Lyell Wealth Management LP Grows Stock Holdings in Quanta Services, Inc. $PWR

Key Points

• Lyell Wealth Management LP increased its holdings in Quanta Services, Inc. by 18.3% in Q2, owning 35,571 shares valued at approximately $13.4 million.
• Quanta Services recently reported Q2 earnings per share of $2.48, surpassing expectations and demonstrating a 21.1% revenue increase year-over-year.
• The stock currently has a consensus rating of "Moderate Buy" with a target price of $410.45, as analysts show varied outlooks on its performance.

Lyell Wealth Management LP grew its holdings in Quanta Services, Inc. (NYSE:PWR - Free Report) by 18.3% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 35,571 shares of the construction company's stock after purchasing an additional 5,490 shares during the quarter. Lyell Wealth Management LP's holdings in Quanta Services were worth $13,449,000 as of its most recent SEC filing.

A number of other institutional investors have also bought and sold shares of PWR. SCP Investment LP purchased a new stake in shares of Quanta Services during the 1st quarter valued at approximately $966,000. Brighton Jones LLC purchased a new stake in shares of Quanta Services during the 4th quarter valued at approximately $298,000. Swedbank AB raised its position in shares of Quanta Services by 50.5% during the 1st quarter. Swedbank AB now owns 1,197,062 shares of the construction company's stock valued at $304,269,000 after buying an additional 401,418 shares during the period. Empirical Financial Services LLC d.b.a. Empirical Wealth Management purchased a new stake in shares of Quanta Services during the 2nd quarter valued at approximately $271,000. Finally, Wealth Enhancement Advisory Services LLC raised 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 valued at $17,480,000 after buying an additional 2,479 shares during the period. 90.49% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research firms have recently commented on PWR. Stifel Nicolaus lifted their price target on shares of Quanta Services from $432.00 to $475.00 and gave the company a "buy" rating in a research report on Thursday, October 9th. Northland Securities lowered shares of Quanta Services from an "outperform" rating to a "market perform" rating and set a $354.00 price target on the stock. in a research report on Wednesday, July 2nd. UBS Group lifted their price target on shares of Quanta Services from $413.00 to $474.00 and gave the company a "buy" rating in a research report on Friday, July 25th. Evercore ISI boosted 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, Northland Capmk lowered Quanta Services from a "strong-buy" rating to a "hold" rating in a research report on Wednesday, July 2nd. Fourteen 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 a consensus rating of "Moderate Buy" and a consensus target price of $410.45.

Quanta Services Stock Down 0.7%

Shares of NYSE PWR opened at $434.65 on Monday. The firm has a market cap of $64.77 billion, a price-to-earnings ratio of 67.28, a PEG ratio of 2.57 and a beta of 1.04. The company has a quick ratio of 1.32, a current ratio of 1.37 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 $446.60. The business's 50 day moving average is $396.43 and its two-hundred day moving average is $362.48.

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, topping the consensus estimate of $2.44 by $0.04. The business had revenue of $6.77 billion during the quarter, compared to the consensus estimate of $6.55 billion. Quanta Services had a net margin of 3.73% and a return on equity of 18.41%. The company's quarterly revenue was up 21.1% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.90 earnings per share. Quanta Services has set its FY 2025 guidance at 10.280-10.880 EPS. Research analysts predict that Quanta Services, Inc. will post 9.34 EPS for the current year.

Quanta Services Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, October 10th. Shareholders of record on Wednesday, October 1st were paid a $0.10 dividend. The ex-dividend date was Wednesday, October 1st. This represents a $0.40 annualized dividend and a dividend yield of 0.1%. Quanta Services's payout ratio is 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.

Want to see what other hedge funds are holding PWR? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Quanta Services, Inc. (NYSE:PWR - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.