Kayne Anderson Rudnick Investment Management LLC Lowers Holdings in Quanta Services, Inc. $PWR

Key Points

• Kayne Anderson Rudnick Investment Management LLC reduced its holdings in Quanta Services, Inc. by 13.8%, leading to ownership of 8,498 shares worth approximately $2.16 million.
• Analyst ratings for Quanta Services vary, with thirteen analysts giving a 'Buy' rating and twelve giving a 'Hold' rating, resulting in a consensus target price of $392.45.
• Quanta Services reported a $2.48 EPS in its latest quarterly earnings, exceeding expectations and showing a 21.1% year-over-year revenue growth.

Kayne Anderson Rudnick Investment Management LLC lessened its stake in shares of Quanta Services, Inc. (NYSE:PWR - Free Report) by 13.8% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 8,498 shares of the construction company's stock after selling 1,362 shares during the period. Kayne Anderson Rudnick Investment Management LLC's holdings in Quanta Services were worth $2,160,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Vanguard Group Inc. increased its position in Quanta Services by 2.4% during the 1st quarter. Vanguard Group Inc. now owns 17,417,299 shares of the construction company's stock valued at $4,427,129,000 after buying an additional 407,878 shares in the last quarter. Bank of America Corp DE boosted its stake in Quanta Services by 42.8% during the 4th quarter. Bank of America Corp DE now owns 1,691,652 shares of the construction company's stock valued at $534,647,000 after purchasing an additional 506,722 shares during the last quarter. Nuveen LLC purchased a new stake in Quanta Services during the 1st quarter valued at $404,288,000. Northern Trust Corp boosted its stake in Quanta Services by 3.8% during the 1st quarter. Northern Trust Corp now owns 1,545,514 shares of the construction company's stock valued at $392,839,000 after purchasing an additional 56,081 shares during the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake in Quanta Services by 7.8% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,143,033 shares of the construction company's stock valued at $361,256,000 after purchasing an additional 82,981 shares during the last quarter. Institutional investors own 90.49% of the company's stock.

Analyst Upgrades and Downgrades

Several analysts have commented on PWR shares. Stifel Nicolaus increased their target price on Quanta Services from $411.00 to $432.00 and gave the company a "buy" rating in a research note on Monday, August 4th. Sanford C. Bernstein downgraded Quanta Services from an "outperform" rating to a "market perform" rating and set a $410.00 target price on the stock. in a research note on Monday, July 28th. Citigroup increased their target price on Quanta Services from $432.00 to $492.00 and gave the company a "buy" rating in a research note on Monday, July 28th. BMO Capital Markets downgraded Quanta Services from an "outperform" rating to a "market perform" rating and increased their target price for the company from $352.00 to $400.00 in a research note on Thursday, July 17th. Finally, Northland Securities downgraded Quanta Services from an "outperform" rating to a "market perform" rating and set a $354.00 price target on the stock. in a research note on Wednesday, July 2nd. Thirteen equities research analysts have rated the stock with a Buy rating and twelve have issued a Hold rating to the company's stock. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $392.45.

Quanta Services Price Performance

NYSE:PWR traded down $7.72 on Friday, reaching $378.24. 774,371 shares of the company's stock traded hands, compared to its average volume of 1,012,933. The company has a quick ratio of 1.32, a current ratio of 1.37 and a debt-to-equity ratio of 0.59. The stock has a 50-day simple moving average of $387.37 and a 200-day simple moving average of $327.85. The firm has a market cap of $56.36 billion, a PE ratio of 58.55, a P/E/G ratio of 2.24 and a beta of 1.10. Quanta Services, Inc. has a 12 month low of $227.08 and a 12 month high of $424.94.

Quanta Services (NYSE:PWR - Get Free Report) last posted its quarterly earnings results on Thursday, July 31st. The construction company reported $2.48 EPS for the quarter, beating analysts' consensus estimates 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 for the quarter, compared to analysts' expectations of $6.55 billion. During the same period last year, the firm earned $1.90 earnings per share. The business's quarterly revenue was up 21.1% on a year-over-year basis. Quanta Services has set its FY 2025 guidance at 10.280-10.880 EPS. Equities research analysts forecast that Quanta Services, Inc. will post 9.34 earnings per share for the current year.

Quanta Services Dividend Announcement

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

About Quanta Services

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.