Kovitz Investment Group Partners LLC Buys 7,905 Shares of Quanta Services, Inc. $PWR

Key Points

• Kovitz Investment Group Partners LLC increased its holdings in Quanta Services, Inc. by 229.9%, acquiring an additional 7,905 shares in the first quarter, bringing their total to 11,343 shares valued at $2.88 million.
• Analysts have mixed views on Quanta Services, with ratings ranging from "strong-buy" to "hold"**, and a consensus target price of $392.45.
• Quanta Services reported earnings of $2.48 per share for the most recent quarter, exceeding estimates, with a notable revenue increase of 21.1% year-over-year totaling $6.77 billion.

Kovitz Investment Group Partners LLC boosted its position in Quanta Services, Inc. (NYSE:PWR - Free Report) by 229.9% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 11,343 shares of the construction company's stock after buying an additional 7,905 shares during the period. Kovitz Investment Group Partners LLC's holdings in Quanta Services were worth $2,883,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also bought and sold shares of the company. Oak Ridge Investments LLC lifted its holdings in Quanta Services by 4.2% in the first quarter. Oak Ridge Investments LLC now owns 21,534 shares of the construction company's stock valued at $5,474,000 after buying an additional 859 shares during the period. Vestmark Advisory Solutions Inc. raised its holdings in shares of Quanta Services by 214.0% during the first quarter. Vestmark Advisory Solutions Inc. now owns 3,291 shares of the construction company's stock valued at $837,000 after purchasing an additional 2,243 shares during the period. Ground Swell Capital LLC acquired a new position in shares of Quanta Services during the first quarter valued at about $484,000. Tokio Marine Asset Management Co. Ltd. raised its holdings in shares of Quanta Services by 6.4% during the first quarter. Tokio Marine Asset Management Co. Ltd. now owns 5,122 shares of the construction company's stock valued at $1,302,000 after purchasing an additional 309 shares during the period. Finally, National Pension Service raised its holdings in shares of Quanta Services by 14.0% during the first quarter. National Pension Service now owns 195,382 shares of the construction company's stock valued at $49,662,000 after purchasing an additional 23,991 shares during the period. Institutional investors and hedge funds own 90.49% of the company's stock.

Quanta Services Stock Up 0.4%

PWR stock traded up $1.37 during trading on Friday, reaching $379.58. The stock had a trading volume of 1,037,698 shares, compared to its average volume of 1,257,407. Quanta Services, Inc. has a one year low of $227.08 and a one year high of $424.94. 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 company's 50 day moving average is $385.24 and its two-hundred day moving average is $325.26. The company has a market capitalization of $56.56 billion, a price-to-earnings ratio of 58.76, a P/E/G ratio of 2.26 and a beta of 1.10.

Quanta Services (NYSE:PWR - Get Free Report) last issued its quarterly earnings data on Thursday, July 31st. The construction company reported $2.48 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.44 by $0.04. Quanta Services had a net margin of 3.73% and a return on equity of 18.41%. The business had revenue of $6.77 billion during the quarter, compared to the consensus estimate of $6.55 billion. During the same period in the prior year, the firm posted $1.90 EPS. The firm'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 research analysts forecast that Quanta Services, Inc. will post 9.34 EPS for the current year.

Analysts Set New Price Targets

PWR has been the topic of several research reports. Stifel Nicolaus upped their price objective on shares of Quanta Services from $411.00 to $432.00 and gave the company a "buy" rating in a report on Monday, August 4th. Northland Securities lowered shares of Quanta Services from an "outperform" rating to a "market perform" rating and set a $354.00 price objective on the stock. in a report on Wednesday, July 2nd. DA Davidson upped their price objective on shares of Quanta Services from $305.00 to $395.00 and gave the company a "neutral" rating in a report on Friday, August 1st. Truist Financial boosted their target price on shares of Quanta Services from $375.00 to $472.00 and gave the stock a "buy" rating in a research report on Monday, August 4th. Finally, B. Riley boosted their target price on shares of Quanta Services from $300.00 to $355.00 and gave the stock a "neutral" rating in a research report on Friday, May 2nd. Thirteen investment analysts have rated the stock with a Buy rating and twelve have assigned a Hold rating to the company. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $392.45.

Quanta Services Company 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.