Driehaus Capital Management LLC Grows Stock Holdings in Quanta Services, Inc. (NYSE:PWR)

Driehaus Capital Management LLC grew its position in Quanta Services, Inc. (NYSE:PWR) by 3.4% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 105,880 shares of the construction company’s stock after acquiring an additional 3,501 shares during the period. Driehaus Capital Management LLC owned about 0.07% of Quanta Services worth $33,463,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in PWR. Vanguard Group Inc. lifted its holdings in Quanta Services by 1.0% during the 4th quarter. Vanguard Group Inc. now owns 17,009,421 shares of the construction company’s stock worth $5,375,828,000 after buying an additional 161,277 shares during the last quarter. Capital World Investors increased its holdings in shares of Quanta Services by 14.1% in the 4th quarter. Capital World Investors now owns 7,223,471 shares of the construction company’s stock valued at $2,282,978,000 after purchasing an additional 891,977 shares in the last quarter. Geode Capital Management LLC boosted its position in Quanta Services by 2.9% during the fourth quarter. Geode Capital Management LLC now owns 3,558,827 shares of the construction company’s stock worth $1,121,830,000 after purchasing an additional 99,416 shares in the last quarter. Invesco Ltd. grew its position in shares of Quanta Services by 3.7% in the fourth quarter. Invesco Ltd. now owns 1,913,847 shares of the construction company’s stock valued at $604,871,000 after purchasing an additional 68,565 shares during the last quarter. Finally, Norges Bank acquired a new stake in shares of Quanta Services during the 4th quarter worth about $544,937,000. Hedge funds and other institutional investors own 90.49% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on the stock. TD Cowen increased their target price on shares of Quanta Services from $335.00 to $355.00 and gave the stock a “buy” rating in a research report on Wednesday. Piper Sandler set a $360.00 target price on Quanta Services and gave the company an “overweight” rating in a research note on Tuesday. Truist Financial cut their target price on Quanta Services from $398.00 to $324.00 and set a “buy” rating on the stock in a research note on Tuesday, April 8th. Evercore ISI lifted their target price on Quanta Services from $331.00 to $360.00 and gave the stock an “outperform” rating in a report on Friday, May 2nd. Finally, JPMorgan Chase & Co. raised their target price on shares of Quanta Services from $297.00 to $323.00 and gave the stock a “neutral” rating in a report on Tuesday, January 28th. Six investment analysts have rated the stock with a hold rating, fifteen have given a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $344.35.

Quanta Services Stock Up 1.0 %

Shares of PWR stock opened at $326.85 on Friday. Quanta Services, Inc. has a 1-year low of $227.08 and a 1-year high of $365.88. The stock’s fifty day moving average price is $270.01 and its 200 day moving average price is $300.59. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.30 and a quick ratio of 1.19. The company has a market cap of $48.46 billion, a price-to-earnings ratio of 54.20, a price-to-earnings-growth ratio of 1.41 and a beta of 1.02.

Quanta Services (NYSE:PWR) last issued its quarterly earnings data on Thursday, May 1st. The construction company reported $1.78 EPS for the quarter, beating the consensus estimate of $1.72 by $0.06. The company had revenue of $6.23 billion for the quarter, compared to analyst estimates of $5.88 billion. Quanta Services had a return on equity of 18.00% and a net margin of 3.82%. During the same period last year, the company earned $1.41 earnings per share. Quanta Services’s quarterly revenue was up 23.9% compared to the same quarter last year. On average, research analysts expect that Quanta Services, Inc. will post 9.34 earnings per share for the current fiscal year.

Quanta Services Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, April 11th. Shareholders of record on Thursday, April 3rd were paid a $0.10 dividend. The ex-dividend date of this dividend was Thursday, April 3rd. This represents a $0.40 annualized dividend and a yield of 0.12%. Quanta Services’s dividend payout ratio is currently 6.45%.

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.