Quanta Services, Inc. $PWR Position Increased by Lyell Wealth Management LP

Lyell Wealth Management LP grew its position in Quanta Services, Inc. (NYSE:PWR) by 2.3% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 40,197 shares of the construction company’s stock after acquiring an additional 888 shares during the period. Quanta Services comprises about 1.5% of Lyell Wealth Management LP’s portfolio, making the stock its 17th largest holding. Lyell Wealth Management LP’s holdings in Quanta Services were worth $25,827,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of the company. Bartlett & CO. Wealth Management LLC raised its holdings in shares of Quanta Services by 2.6% in the 1st quarter. Bartlett & CO. Wealth Management LLC now owns 513 shares of the construction company’s stock valued at $282,000 after purchasing an additional 13 shares during the period. Pincus Capital Management LP grew its holdings in Quanta Services by 0.4% during the first quarter. Pincus Capital Management LP now owns 3,690 shares of the construction company’s stock worth $2,026,000 after purchasing an additional 15 shares during the period. SouthState Bank Corp grew its holdings in Quanta Services by 23.5% during the first quarter. SouthState Bank Corp now owns 84 shares of the construction company’s stock worth $46,000 after purchasing an additional 16 shares during the period. Stiles Financial Services Inc increased its position in Quanta Services by 1.8% during the first quarter. Stiles Financial Services Inc now owns 987 shares of the construction company’s stock worth $542,000 after buying an additional 17 shares during the last quarter. Finally, Ethos Financial Group LLC increased its position in Quanta Services by 1.8% during the first quarter. Ethos Financial Group LLC now owns 1,064 shares of the construction company’s stock worth $584,000 after buying an additional 19 shares during the last quarter. 90.49% of the stock is currently owned by institutional investors and hedge funds.

Quanta Services Price Performance

Quanta Services stock opened at $656.13 on Wednesday. The company has a market capitalization of $98.87 billion, a price-to-earnings ratio of 59.43, a PEG ratio of 1.62 and a beta of 1.29. The company has a current ratio of 1.16, a quick ratio of 1.13 and a debt-to-equity ratio of 0.60. Quanta Services, Inc. has a 12 month low of $408.36 and a 12 month high of $788.75. The stock’s 50 day moving average is $633.15 and its 200-day moving average is $625.14.

Quanta Services (NYSE:PWR) last announced its earnings results on Thursday, October 29th. The construction company reported $6.06 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $5.02 by $1.04. The company had revenue of $12.01 billion during the quarter, compared to analysts’ expectations of $11.03 billion. Quanta Services had a net margin of 4.51% and a return on equity of 23.56%. Quanta Services’s quarterly revenue was up 57.4% on a year-over-year basis. During the same quarter in the previous year, the business posted $3.33 earnings per share. Equities research analysts expect that Quanta Services, Inc. will post 16.25 EPS for the current year.

Quanta Services Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, October 9th. Investors of record on Thursday, October 1st were paid a $0.11 dividend. This represents a $0.44 dividend on an annualized basis and a yield of 0.1%. The ex-dividend date of this dividend was Thursday, October 1st. Quanta Services’s dividend payout ratio (DPR) is 3.99%.

Analyst Ratings Changes

Several analysts have issued reports on the company. Mizuho set a $684.00 price objective on Quanta Services in a research note on Wednesday, October 7th. Piper Sandler reduced their target price on Quanta Services from $731.00 to $714.00 and set an “overweight” rating for the company in a research note on Monday, September 28th. Robert W. Baird set a $728.00 target price on Quanta Services in a research note on Friday, July 31st. UBS Group reissued a “buy” rating on shares of Quanta Services in a report on Monday, August 17th. Finally, BTIG Research cut Quanta Services to a “hold” rating in a research note on Friday, July 31st. Twenty-three analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and three have issued a Sell rating to the company. According to MarketBeat.com, Quanta Services currently has a consensus rating of “Moderate Buy” and a consensus target price of $763.81.

Quanta Services Company Profile

Quanta Services, Inc is an infrastructure solutions provider headquartered in Houston, Texas. The company designs, installs, repairs, maintains and upgrades essential infrastructure for the electric power, communications, pipeline, industrial and energy industries.

Its services include electric transmission and distribution construction, substation and renewable-energy infrastructure, storm restoration, fiber-optic and wireless communications networks, natural gas and pipeline construction, and related engineering and maintenance work.