MAI Capital Management Has $4.31 Million Stake in Quanta Services, Inc. $PWR

Key Points

• MAI Capital Management increased its stake in Quanta Services, Inc. by 7.9%, resulting in ownership of 16,937 shares worth approximately $4.31 million.
• The recent performance of Quanta Services has led analysts to raise price targets, with TD Cowen increasing theirs from $355 to $425, while UBS raised theirs from $413 to $474.
• Quanta Services will pay a quarterly dividend of $0.10 per share on October 10th, reflecting a dividend yield of 0.1%.

MAI Capital Management boosted its stake in Quanta Services, Inc. (NYSE:PWR - Free Report) by 7.9% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 16,937 shares of the construction company's stock after acquiring an additional 1,238 shares during the quarter. MAI Capital Management's holdings in Quanta Services were worth $4,305,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Nuveen LLC acquired a new position in shares of Quanta Services during the first quarter worth about $404,288,000. GAMMA Investing LLC lifted its stake 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 in the last quarter. Bank of America Corp DE boosted its position 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 worth $534,647,000 after acquiring an additional 506,722 shares during the last quarter. Jennison Associates LLC grew its stake in shares of 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 acquiring an additional 504,540 shares in the last quarter. Finally, Vanguard Group Inc. raised its holdings in shares of Quanta Services by 2.4% in the first quarter. Vanguard Group Inc. now owns 17,417,299 shares of the construction company's stock valued at $4,427,129,000 after purchasing an additional 407,878 shares during the last quarter. Institutional investors and hedge funds own 90.49% of the company's stock.

Wall Street Analysts Forecast Growth

PWR has been the topic of several recent research reports. TD Cowen lifted their price target on shares of Quanta Services from $355.00 to $425.00 and gave the company a "buy" rating in a research note on Tuesday, August 5th. UBS Group lifted their target price on Quanta Services from $413.00 to $474.00 and gave the company a "buy" rating in a research report on Friday, July 25th. BMO Capital Markets cut Quanta Services from an "outperform" rating to a "market perform" rating and increased their price target for the company from $352.00 to $400.00 in a research report on Thursday, July 17th. Argus set a $375.00 price target on Quanta Services in a research report on Monday, May 5th. Finally, JPMorgan Chase & Co. increased their price objective on Quanta Services from $345.00 to $392.00 and gave the company a "neutral" rating in a report on Tuesday, July 22nd. Thirteen research analysts have rated the stock with a Buy rating and twelve have given a Hold rating to the stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $392.45.

Quanta Services Price Performance

NYSE:PWR opened at $378.24 on Tuesday. Quanta Services, Inc. has a 12-month low of $227.08 and a 12-month high of $424.94. The firm has a market capitalization of $56.36 billion, a price-to-earnings ratio of 58.55, a P/E/G ratio of 2.24 and a beta of 1.01. The stock's 50 day moving average price is $387.61 and its two-hundred day moving average price is $328.76. 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 (NYSE:PWR - Get Free Report) last posted 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 business had revenue of $6.77 billion for the quarter, compared to analyst estimates of $6.55 billion. During the same period in the previous year, the firm earned $1.90 EPS. The firm's 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. On average, analysts anticipate that Quanta Services, Inc. will post 9.34 earnings per share for the current year.

Quanta Services Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, October 10th. Stockholders of record on Wednesday, October 1st will be paid a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a dividend yield of 0.1%. The ex-dividend date is Wednesday, October 1st. 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.

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.