Laffer Tengler Investments Inc. Has $3.25 Million Position in Quanta Services, Inc. $PWR

Key Points

• Laffer Tengler Investments Inc. has decreased its stake in Quanta Services by 6.0%, holding $3.25 million worth of shares after selling 808 during the first quarter.
• Institutional investors own a significant 90.49% of Quanta Services, with notable increases from firms like Nuveen LLC and while Bank of America Corp DE increased its holdings by 42.8%.
• Quanta Services reported $2.48 earnings per share for the last quarter, exceeding expectations, and set FY 2025 guidance between 10.280-10.880 EPS.

Laffer Tengler Investments Inc. decreased its stake in Quanta Services, Inc. (NYSE:PWR - Free Report) by 6.0% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 12,769 shares of the construction company's stock after selling 808 shares during the period. Laffer Tengler Investments Inc.'s holdings in Quanta Services were worth $3,246,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the stock. Nuveen LLC acquired a new position in Quanta Services in the 1st quarter worth about $404,288,000. GAMMA Investing LLC increased its position in Quanta Services by 22,475.0% in the 1st quarter. GAMMA Investing LLC now owns 815,409 shares of the construction company's stock valued at $207,261,000 after acquiring an additional 811,797 shares during the period. Bank of America Corp DE lifted its holdings in shares of Quanta Services by 42.8% during the fourth quarter. Bank of America Corp DE now owns 1,691,652 shares of the construction company's stock worth $534,647,000 after purchasing an additional 506,722 shares during the period. Jennison Associates LLC raised its position in Quanta Services by 433.3% during the 1st quarter. Jennison Associates LLC now owns 620,973 shares of the construction company's stock worth $157,839,000 after purchasing an additional 504,540 shares during the last quarter. Finally, Vanguard Group Inc. lifted its holdings 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 worth $4,427,129,000 after buying an additional 407,878 shares during the period. Institutional investors own 90.49% of the company's stock.

Quanta Services Stock Up 0.6%

Shares of NYSE:PWR opened at $378.11 on Friday. 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, Inc. has a 52-week low of $227.08 and a 52-week high of $424.94. The business's 50 day simple moving average is $384.80 and its two-hundred day simple moving average is $324.52. The firm has a market cap of $56.34 billion, a P/E ratio of 58.53, a PEG ratio of 2.24 and a beta of 1.10.

Quanta Services (NYSE:PWR - Get Free Report) last issued its earnings results on Thursday, July 31st. The construction company reported $2.48 earnings per share for the quarter, topping 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 company had revenue of $6.77 billion for the quarter, compared to analyst estimates of $6.55 billion. During the same period in the prior year, the firm earned $1.90 earnings per share. Quanta Services's revenue for the quarter was up 21.1% on a year-over-year basis. Quanta Services has set its FY 2025 guidance at 10.280-10.880 EPS. As a group, research analysts forecast that Quanta Services, Inc. will post 9.34 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on the stock. Citigroup increased their target price on shares of Quanta Services from $432.00 to $492.00 and gave the company a "buy" rating in a research report on Monday, July 28th. Northland Capmk cut shares of Quanta Services from a "strong-buy" rating to a "hold" rating in a research report on Wednesday, July 2nd. Piper Sandler reissued an "overweight" rating and issued a $370.00 price objective (up from $360.00) on shares of Quanta Services in a research report on Tuesday, May 27th. Evercore ISI upped their target price on Quanta Services from $360.00 to $410.00 and gave the company an "outperform" rating in a research report on Friday, August 8th. Finally, Argus set a $375.00 target price on Quanta Services in a report on Monday, May 5th. Thirteen investment analysts have rated the stock with a Buy rating and twelve have given a Hold rating to the company's stock. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $392.45.

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.

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