Quanta Services, Inc. $PWR Stake Decreased by Joho Capital LLC

Key Points

• Joho Capital LLC has reduced its stake in Quanta Services, Inc. by 7.5%, now holding 229,193 shares, which represents about 10.1% of its portfolio.
• Various institutional investors, including OMERS ADMINISTRATION Corp and B. Metzler seel. Sohn & Co. AG, have increased their holdings in Quanta Services, highlighting significant interest from hedge funds in the company.
• Analysts offer a mixed outlook, with a consensus rating of "Moderate Buy" and an average target price of $392.45, while some have lowered their ratings or adjusted target prices recently.

Joho Capital LLC lessened its position in shares of Quanta Services, Inc. (NYSE:PWR - Free Report) by 7.5% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 229,193 shares of the construction company's stock after selling 18,450 shares during the period. Quanta Services comprises 10.1% of Joho Capital LLC's investment portfolio, making the stock its 5th biggest holding. Joho Capital LLC owned about 0.15% of Quanta Services worth $58,233,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. SCP Investment LP acquired a new position in shares of Quanta Services during the first quarter worth $966,000. Brighton Jones LLC purchased a new stake in Quanta Services during the 4th quarter worth about $298,000. Wealth Enhancement Advisory Services LLC boosted its position in shares of Quanta Services by 3.7% during the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 68,770 shares of the construction company's stock worth $17,480,000 after acquiring an additional 2,479 shares in the last quarter. Farther Finance Advisors LLC increased its holdings in shares of Quanta Services by 60.0% in the 1st quarter. Farther Finance Advisors LLC now owns 1,568 shares of the construction company's stock valued at $404,000 after acquiring an additional 588 shares during the last quarter. Finally, Objectivity Squared LLC acquired a new stake in shares of Quanta Services during the 1st quarter worth about $213,000. 90.49% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

PWR has been the topic of several recent analyst reports. Truist Financial increased their price target on shares of Quanta Services from $375.00 to $472.00 and gave the company a "buy" rating in a research note on Monday, August 4th. Piper Sandler reaffirmed an "overweight" rating and issued a $370.00 target price (up from $360.00) on shares of Quanta Services in a research report on Tuesday, May 27th. UBS Group lifted their price target on shares of Quanta Services from $413.00 to $474.00 and gave the stock a "buy" rating in a research note on Friday, July 25th. B. Riley boosted their price target on shares of Quanta Services from $300.00 to $355.00 and gave the company a "neutral" rating in a research report on Friday, May 2nd. Finally, Wall Street Zen lowered Quanta Services from a "buy" rating to a "hold" rating in a report on Saturday. Thirteen 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 stock presently has a consensus rating of "Moderate Buy" and an average price target of $392.45.

Quanta Services Stock Performance

Quanta Services stock traded down $7.72 during mid-day trading on Friday, reaching $378.24. 774,371 shares of the company were exchanged, compared to its average volume of 1,012,933. The firm's 50-day simple moving average is $387.37 and its two-hundred day simple moving average is $327.85. Quanta Services, Inc. has a twelve month low of $227.08 and a twelve month high of $424.94. The firm has a market cap of $56.36 billion, a PE ratio of 58.55, a price-to-earnings-growth ratio of 2.24 and a beta of 1.10. The company has a debt-to-equity ratio of 0.59, a quick ratio of 1.32 and a current ratio of 1.37.

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

Quanta Services Announces Dividend

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