Alliancebernstein L.P. Sells 38,248 Shares of Quanta Services, Inc. $PWR

Alliancebernstein L.P. reduced its stake in Quanta Services, Inc. (NYSE:PWR - Free Report) by 15.6% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 206,621 shares of the construction company's stock after selling 38,248 shares during the quarter. Alliancebernstein L.P. owned about 0.14% of Quanta Services worth $52,519,000 at the end of the most recent reporting period.

Several other large investors have also recently bought and sold shares of the stock. SCP Investment LP bought a new position in shares of Quanta Services during the first quarter worth approximately $966,000. Brighton Jones LLC bought a new position in Quanta Services during the 4th quarter worth $298,000. Wealth Enhancement Advisory Services LLC increased its position in Quanta Services by 3.7% during the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 68,770 shares of the construction company's stock worth $17,480,000 after buying an additional 2,479 shares during the period. Farther Finance Advisors LLC increased its position in Quanta Services by 60.0% during the 1st quarter. Farther Finance Advisors LLC now owns 1,568 shares of the construction company's stock worth $404,000 after buying an additional 588 shares during the period. Finally, Objectivity Squared LLC bought a new position in Quanta Services during the first quarter worth about $213,000. 90.49% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of research firms recently commented on PWR. Citigroup raised their price target on shares of Quanta Services from $432.00 to $492.00 and gave the stock a "buy" rating in a research report on Monday, July 28th. Truist Financial raised their target price on shares of Quanta Services from $375.00 to $472.00 and gave the stock a "buy" rating in a report on Monday, August 4th. UBS Group raised their price objective on Quanta Services from $413.00 to $474.00 and gave the stock a "buy" rating in a research note on Friday, July 25th. JPMorgan Chase & Co. raised their price objective on Quanta Services from $345.00 to $392.00 and gave the stock a "neutral" rating in a research note on Tuesday, July 22nd. Finally, Piper Sandler restated an "overweight" rating and issued a $370.00 price target (up previously from $360.00) on shares of Quanta Services in a research report on Tuesday, May 27th. Thirteen analysts have rated the stock with a Buy rating and twelve have issued a Hold rating to the stock. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $397.18.

Quanta Services Price Performance

Shares of PWR traded down $3.17 during midday trading on Friday, hitting $386.47. The company's stock had a trading volume of 322,147 shares, compared to its average volume of 1,358,864. Quanta Services, Inc. has a one year low of $227.08 and a one year high of $424.94. The company's fifty day simple moving average is $387.74 and its two-hundred day simple moving average is $333.55. The company has a quick ratio of 1.32, a current ratio of 1.37 and a debt-to-equity ratio of 0.59. The stock has a market capitalization of $57.59 billion, a price-to-earnings ratio of 59.83, a price-to-earnings-growth ratio of 2.32 and a beta of 1.01.

Quanta Services (NYSE:PWR - Get Free Report) last issued its quarterly earnings results on Thursday, July 31st. The construction company reported $2.48 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.44 by $0.04. The company had revenue of $6.77 billion for 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%.The company's revenue for the quarter was up 21.1% compared to the same quarter last year. During the same quarter last year, the company posted $1.90 EPS. Quanta Services has set its FY 2025 guidance at 10.280-10.880 EPS. As a group, equities analysts expect that Quanta Services, Inc. will post 9.34 earnings per share for the current fiscal year.

Quanta Services Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 10th. Investors of record on Wednesday, October 1st will be given a dividend of $0.10 per share. The ex-dividend date is Wednesday, October 1st. This represents a $0.40 dividend on an annualized basis and a yield of 0.1%. Quanta Services's payout ratio is currently 6.19%.

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.