888 Quanta Services, Inc. $PWR Shares Acquired by Lyell Wealth Management LP

Lyell Wealth Management LP boosted its holdings in shares of Quanta Services, Inc. (NYSE:PWR) by 2.3% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 40,197 shares of the construction company’s stock after acquiring an additional 888 shares during the period. Quanta Services makes up approximately 1.5% of Lyell Wealth Management LP’s investment 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 quarter.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in PWR. State Street Corp increased its holdings in shares of Quanta Services by 4.7% in the second quarter. State Street Corp now owns 6,581,807 shares of the construction company’s stock worth $4,739,164,000 after acquiring an additional 296,893 shares in the last quarter. Healthcare of Ontario Pension Plan Trust Fund lifted its holdings in shares of Quanta Services by 3,657.8% during the 1st quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 221,485 shares of the construction company’s stock valued at $121,600,000 after purchasing an additional 215,591 shares in the last quarter. Corient Private Wealth LP lifted its holdings in shares of Quanta Services by 731.3% during the 2nd quarter. Corient Private Wealth LP now owns 210,091 shares of the construction company’s stock valued at $151,273,000 after purchasing an additional 184,819 shares in the last quarter. Bank of America Corp DE grew its position in shares of Quanta Services by 5.4% in the 1st quarter. Bank of America Corp DE now owns 3,444,711 shares of the construction company’s stock valued at $1,891,215,000 after purchasing an additional 175,184 shares during the period. Finally, First Trust Advisors LP grew its position in shares of Quanta Services by 18.3% in the 1st quarter. First Trust Advisors LP now owns 1,003,917 shares of the construction company’s stock valued at $551,170,000 after purchasing an additional 155,529 shares during the period. 90.49% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on the company. Sanford C. Bernstein raised Quanta Services from a “market perform” rating to an “outperform” rating and increased their target price for the stock from $748.00 to $775.00 in a research note on Thursday, September 24th. Raymond James Financial set a $830.00 price target on shares of Quanta Services in a research note on Thursday, October 29th. Mizuho set a $684.00 price target on shares of Quanta Services in a report on Wednesday, October 7th. The Goldman Sachs Group set a $781.00 price objective on shares of Quanta Services in a research report on Thursday, October 22nd. Finally, Weiss Ratings upgraded shares of Quanta Services from a “hold (c+)” rating to a “buy (b-)” rating in a report on Tuesday, October 13th. Twenty-three equities research analysts have rated the stock with a Buy rating, seven have given a Hold rating and three have issued a Sell rating to the stock. Based on data from MarketBeat, Quanta Services has an average rating of “Moderate Buy” and a consensus target price of $763.81.

Quanta Services Trading Up 5.6%

Quanta Services stock opened at $656.13 on Wednesday. The company has a market cap of $98.87 billion, a price-to-earnings ratio of 59.43, a P/E/G ratio of 1.62 and a beta of 1.29. The firm has a 50-day moving average of $633.15 and a 200-day moving average of $625.14. The company has a debt-to-equity ratio of 0.60, a current ratio of 1.16 and a quick ratio of 1.13. Quanta Services, Inc. has a one year low of $408.36 and a one year high of $788.75.

Quanta Services (NYSE:PWR) last released 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. Quanta Services had a return on equity of 23.56% and a net margin of 4.51%. The business had revenue of $12.01 billion for the quarter, compared to the consensus estimate of $11.03 billion. During the same quarter in the previous year, the business earned $3.33 earnings per share. Quanta Services’s quarterly revenue was up 57.4% on a year-over-year basis. On average, equities analysts expect that Quanta Services, Inc. will post 16.25 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, October 9th. Shareholders 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 was Thursday, October 1st. Quanta Services’s dividend payout ratio (DPR) is currently 3.99%.

Quanta Services 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.