Zevenbergen Capital Investments LLC Increases Stock Position in Quanta Services, Inc. $PWR

Key Points

• Zevenbergen Capital Investments LLC increased its stake in Quanta Services by 2.4%, now owning over 111,000 shares valued at approximately $42.1 million.
• Quanta Services has seen a series of upward adjustments in target price ratings from multiple analysts, with Citigroup setting a new target at $492.00.
• The company reported a quarterly earnings increase, with earnings per share at $2.48, surpassing estimates, and a revenue of $6.77 billion.

Zevenbergen Capital Investments LLC boosted its stake in Quanta Services, Inc. (NYSE:PWR - Free Report) by 2.4% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 111,354 shares of the construction company's stock after acquiring an additional 2,558 shares during the period. Zevenbergen Capital Investments LLC owned about 0.08% of Quanta Services worth $42,101,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. Thurston Springer Miller Herd & Titak Inc. lifted its position in Quanta Services by 37.1% in the second quarter. Thurston Springer Miller Herd & Titak Inc. now owns 4,630 shares of the construction company's stock valued at $1,750,000 after acquiring an additional 1,254 shares during the last quarter. TruWealth Advisors LLC lifted its position in Quanta Services by 2.7% in the second quarter. TruWealth Advisors LLC now owns 50,799 shares of the construction company's stock valued at $19,206,000 after acquiring an additional 1,314 shares during the last quarter. HBW Advisory Services LLC lifted its position in Quanta Services by 51.8% in the second quarter. HBW Advisory Services LLC now owns 2,101 shares of the construction company's stock valued at $794,000 after acquiring an additional 717 shares during the last quarter. Central Pacific Bank Trust Division lifted its position in Quanta Services by 26.6% in the second quarter. Central Pacific Bank Trust Division now owns 2,590 shares of the construction company's stock valued at $979,000 after acquiring an additional 544 shares during the last quarter. Finally, AG2R LA Mondiale Gestion D Actifs purchased a new stake in shares of Quanta Services in the first quarter valued at about $1,842,000. 90.49% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

PWR has been the subject of a number of research reports. JPMorgan Chase & Co. upped their target price on shares of Quanta Services from $345.00 to $392.00 and gave the company a "neutral" rating in a report on Tuesday, July 22nd. The Goldman Sachs Group reaffirmed a "buy" rating and issued a $414.00 target price (up from $364.00) on shares of Quanta Services in a report on Wednesday, June 4th. Evercore ISI upped their target price on shares of Quanta Services from $360.00 to $410.00 and gave the company an "outperform" rating in a report on Friday, August 8th. Stifel Nicolaus upped their target price 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. Finally, Citigroup upped their target price on shares of Quanta Services from $432.00 to $492.00 and gave the company a "buy" rating in a report on Monday, July 28th. Thirteen equities research 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 currently has an average rating of "Moderate Buy" and a consensus target price of $397.18.

Quanta Services Trading Down 1.8%

Shares of PWR opened at $382.50 on Friday. The company has a current ratio of 1.37, a quick ratio of 1.32 and a debt-to-equity ratio of 0.59. The firm's 50-day moving average is $387.66 and its two-hundred day moving average is $334.82. Quanta Services, Inc. has a twelve month low of $227.08 and a twelve month high of $424.94. The firm has a market capitalization of $57.00 billion, a P/E ratio of 59.21, a PEG ratio of 2.31 and a beta of 1.01.

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 the consensus estimate of $2.44 by $0.04. Quanta Services had a net margin of 3.73% and a return on equity of 18.41%. 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 business posted $1.90 earnings per share. The firm's revenue for the quarter 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, research analysts predict that Quanta Services, Inc. will post 9.34 earnings per share for the current fiscal year.

Quanta Services Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, October 10th. Stockholders 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 dividend yield of 0.1%. Quanta Services's dividend payout ratio is currently 6.19%.

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.

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