Ieq Capital LLC Reduces Holdings in Quanta Services, Inc. $PWR

Key Points

• Ieq Capital LLC has reduced its holdings in Quanta Services, Inc. by 50.7%, resulting in the ownership of 855 shares valued at $217,000 as of the most recent SEC filing.
• During the first quarter, other institutional investors such as Vanguard Group and Nuveen LLC significantly increased their stakes in Quanta Services, which is now over 90% owned by institutional investors.
• Quanta Services reported a quarterly revenue of $6.77 billion and EPS of $2.48, surpassing analysts' expectations, indicating strong performance with a year-over-year revenue increase of 21.1%.

Ieq Capital LLC cut its holdings in Quanta Services, Inc. (NYSE:PWR - Free Report) by 50.7% during the first quarter, according to its most recent Form 13F filing with the SEC. The fund owned 855 shares of the construction company's stock after selling 880 shares during the period. Ieq Capital LLC's holdings in Quanta Services were worth $217,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in PWR. Brighton Jones LLC acquired a new position in Quanta Services in the fourth quarter valued at approximately $298,000. Benjamin Edwards Inc. lifted its stake in Quanta Services by 24.7% during the fourth quarter. Benjamin Edwards Inc. now owns 2,138 shares of the construction company's stock worth $676,000 after purchasing an additional 423 shares in the last quarter. Captrust Financial Advisors lifted its stake in Quanta Services by 35.0% during the fourth quarter. Captrust Financial Advisors now owns 8,406 shares of the construction company's stock worth $2,657,000 after purchasing an additional 2,181 shares in the last quarter. Clark Capital Management Group Inc. lifted its stake in Quanta Services by 3.1% during the fourth quarter. Clark Capital Management Group Inc. now owns 10,397 shares of the construction company's stock worth $3,286,000 after purchasing an additional 309 shares in the last quarter. Finally, Fiduciary Trust Co lifted its stake in Quanta Services by 3.1% during the fourth quarter. Fiduciary Trust Co now owns 8,023 shares of the construction company's stock worth $2,536,000 after purchasing an additional 239 shares in the last quarter. 90.49% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research analysts have commented on PWR shares. Seaport Res Ptn upgraded Quanta Services to a "hold" rating in a research note on Thursday, July 10th. Evercore ISI upped their price target on Quanta Services from $360.00 to $410.00 and gave the stock an "outperform" rating in a research note on Friday, August 8th. Citigroup increased their price objective on Quanta Services from $432.00 to $492.00 and gave the company a "buy" rating in a research note on Monday, July 28th. TD Cowen increased their price objective on Quanta Services from $355.00 to $425.00 and gave the company a "buy" rating in a research note on Tuesday, August 5th. Finally, Piper Sandler reiterated an "overweight" rating and issued a $370.00 price objective (up from $360.00) on shares of Quanta Services in a research note on Tuesday, May 27th. Thirteen investment analysts have rated the stock with a Buy rating and twelve have given a Hold rating to the company's stock. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $397.18.

Quanta Services Stock Down 1.8%

NYSE:PWR traded down $7.14 during trading hours on Friday, hitting $382.50. The company's stock had a trading volume of 833,428 shares, compared to its average volume of 837,370. The stock has a market capitalization of $57.00 billion, a P/E ratio of 59.21, a price-to-earnings-growth ratio of 2.31 and a beta of 1.01. The stock has a fifty day moving average of $387.66 and a 200-day moving average of $334.36. The company has a current ratio of 1.37, a quick ratio of 1.32 and a debt-to-equity ratio of 0.59. Quanta Services, Inc. has a 52-week low of $227.08 and a 52-week high of $424.94.

Quanta Services (NYSE:PWR - Get Free Report) last posted its earnings results on Thursday, July 31st. The construction company reported $2.48 EPS for the quarter, beating the consensus estimate of $2.44 by $0.04. The firm had revenue of $6.77 billion for the quarter, compared to analyst estimates of $6.55 billion. Quanta Services had a return on equity of 18.41% and a net margin of 3.73%.Quanta Services's revenue for the quarter was up 21.1% compared to the same quarter last year. During the same quarter in the prior year, the company posted $1.90 earnings per share. Quanta Services has set its FY 2025 guidance at 10.280-10.880 EPS. On average, equities analysts forecast that Quanta Services, Inc. will post 9.34 earnings per share for the current year.

Quanta Services Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, October 10th. Investors of record on Wednesday, October 1st will be issued a $0.10 dividend. This represents a $0.40 annualized dividend and a yield of 0.1%. The ex-dividend date of this dividend is Wednesday, October 1st. Quanta Services's dividend payout ratio is 6.19%.

Quanta Services Profile

Quanta Services, Inc provides infrastructure solutions for the electric and gas utility, renewable energy, communications, and pipeline and energy industries in the United States, Canada, Australia, and internationally. The company's Electric Power Infrastructure Solutions segment engages in the design, procurement, construction, upgrade, repair, and maintenance of electric power transmission and distribution infrastructure and substation facilities; installation, maintenance, and upgrade of electric power infrastructure projects; installation of smart grid technologies on electric power networks; and design, installation, maintenance, and repair of commercial and industrial wirings.