Zevenbergen Capital Investments LLC Has $27.65 Million Holdings in Quanta Services, Inc. (NYSE:PWR)

Key Points

• Zevenbergen Capital Investments LLC increased its stake in Quanta Services by 11.3%, acquiring an additional 11,031 shares, bringing its total ownership to 108,796 shares valued at $27.65 million.
• Quanta Services reported earnings per share (EPS) of $2.48 for the latest quarter, exceeding analysts' expectations of $2.44, with revenue up by 21.1% year-over-year.
• The company declared a quarterly dividend of $0.10 per share, resulting in a modest annualized yield of 0.1%.

Zevenbergen Capital Investments LLC increased its stake in Quanta Services, Inc. (NYSE:PWR - Free Report) by 11.3% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 108,796 shares of the construction company's stock after purchasing an additional 11,031 shares during the period. Zevenbergen Capital Investments LLC owned 0.07% of Quanta Services worth $27,654,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. Banque Transatlantique SA acquired a new position in shares of Quanta Services in the 4th quarter worth approximately $25,000. Quarry LP acquired a new position in shares of Quanta Services in the 4th quarter worth approximately $26,000. Cullen Frost Bankers Inc. acquired a new position in shares of Quanta Services in the 1st quarter worth approximately $25,000. Zions Bancorporation National Association UT acquired a new position in shares of Quanta Services in the 1st quarter worth approximately $40,000. Finally, OLD Second National Bank of Aurora acquired a new position in shares of Quanta Services in the 1st quarter worth approximately $42,000. 90.49% of the stock is currently owned by institutional investors and hedge funds.

Quanta Services Stock Performance

PWR stock traded down $11.32 on Wednesday, reaching $380.25. 1,728,025 shares of the company were exchanged, compared to its average volume of 1,428,020. Quanta Services, Inc. has a 12 month low of $227.08 and a 12 month high of $424.94. The stock's fifty day moving average price is $381.71 and its 200 day moving average price is $320.88. The firm has a market capitalization of $56.66 billion, a PE ratio of 58.86, a PEG ratio of 2.28 and a beta of 1.10. The company has a debt-to-equity ratio of 0.59, a current ratio of 1.37 and a quick ratio of 1.32.

Quanta Services (NYSE:PWR - Get Free Report) last issued its earnings results on Thursday, July 31st. The construction company reported $2.48 EPS for the quarter, beating analysts' consensus estimates of $2.44 by $0.04. The business had revenue of $6.77 billion during the quarter, compared to analyst estimates of $6.55 billion. Quanta Services had a return on equity of 18.41% and a net margin of 3.73%. Quanta Services's revenue was up 21.1% on a year-over-year basis. During the same period in the prior year, the company posted $1.90 earnings per share. On average, research analysts anticipate that Quanta Services, Inc. will post 9.34 EPS for the current fiscal year.

Quanta Services Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, July 11th. Investors of record on Tuesday, July 1st were given a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a dividend yield of 0.1%. The ex-dividend date was Tuesday, July 1st. Quanta Services's dividend payout ratio (DPR) is 6.19%.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on PWR shares. Argus set a $375.00 price objective on shares of Quanta Services in a research note on Monday, May 5th. Sanford C. Bernstein lowered shares of Quanta Services from an "outperform" rating to a "market perform" rating and set a $410.00 price objective for the company. in a research note on Monday, July 28th. Citigroup upped their price objective on shares of Quanta Services from $432.00 to $492.00 and gave the company a "buy" rating in a research note on Monday, July 28th. Truist Financial upped their price objective on shares of Quanta Services from $375.00 to $472.00 and gave the company a "buy" rating in a research note on Monday, August 4th. Finally, BMO Capital Markets lowered shares of Quanta Services from an "outperform" rating to a "market perform" rating and upped their price objective for the company from $352.00 to $400.00 in a research note on Thursday, July 17th. Twelve research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price 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.