Comerica Bank Lowers Stock Position in Quanta Services, Inc. $PWR

Comerica Bank cut its position in shares of Quanta Services, Inc. (NYSE:PWR - Free Report) by 34.0% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 32,501 shares of the construction company's stock after selling 16,758 shares during the period. Comerica Bank's holdings in Quanta Services were worth $13,717,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. Anchyra Partners LLC purchased a new position in Quanta Services during the fourth quarter valued at $270,000. Aprio Wealth Management LLC lifted its holdings in Quanta Services by 6.0% during the fourth quarter. Aprio Wealth Management LLC now owns 741 shares of the construction company's stock valued at $313,000 after purchasing an additional 42 shares in the last quarter. Kestra Private Wealth Services LLC lifted its holdings in Quanta Services by 11.6% during the fourth quarter. Kestra Private Wealth Services LLC now owns 14,409 shares of the construction company's stock valued at $6,082,000 after purchasing an additional 1,502 shares in the last quarter. J. Team Financial Inc. lifted its holdings in Quanta Services by 10.0% during the fourth quarter. J. Team Financial Inc. now owns 551 shares of the construction company's stock valued at $232,000 after purchasing an additional 50 shares in the last quarter. Finally, Capital Investment Services of America Inc. lifted its holdings in Quanta Services by 59.1% during the fourth quarter. Capital Investment Services of America Inc. now owns 24,794 shares of the construction company's stock valued at $10,465,000 after purchasing an additional 9,212 shares in the last quarter. 90.49% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities analysts have issued reports on the stock. B. Riley Financial increased their price objective on shares of Quanta Services from $450.00 to $565.00 and gave the company a "neutral" rating in a report on Friday, February 20th. Weiss Ratings reissued a "buy (b-)" rating on shares of Quanta Services in a research note on Friday, April 10th. Truist Financial raised their price target on shares of Quanta Services from $643.00 to $713.00 and gave the stock a "buy" rating in a research note on Monday, April 20th. Robert W. Baird raised their price target on shares of Quanta Services from $490.00 to $606.00 and gave the stock an "outperform" rating in a research note on Friday, February 20th. Finally, The Goldman Sachs Group raised their price target on shares of Quanta Services from $495.00 to $685.00 and gave the stock a "buy" rating in a research note on Tuesday, February 24th. Eighteen equities research analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company's stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $603.23.

Quanta Services Price Performance

Shares of PWR opened at $631.67 on Wednesday. Quanta Services, Inc. has a 1-year low of $281.17 and a 1-year high of $640.61. The stock has a market cap of $94.79 billion, a PE ratio of 92.89, a P/E/G ratio of 2.89 and a beta of 1.10. The firm has a 50-day simple moving average of $573.35 and a two-hundred day simple moving average of $495.07. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.14 and a quick ratio of 1.09.

Quanta Services (NYSE:PWR - Get Free Report) last announced its quarterly earnings results on Thursday, February 19th. The construction company reported $3.16 earnings per share for the quarter, beating analysts' consensus estimates of $3.02 by $0.14. Quanta Services had a net margin of 3.61% and a return on equity of 18.10%. The business had revenue of $7.84 billion during the quarter, compared to analysts' expectations of $7.38 billion. During the same period last year, the business earned $2.94 earnings per share. The business's revenue for the quarter was up 19.7% on a year-over-year basis. Quanta Services has set its FY 2026 guidance at 12.650-13.350 EPS. As a group, analysts forecast that Quanta Services, Inc. will post 11.97 EPS for the current year.

Quanta Services Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, April 10th. Shareholders of record on Thursday, April 2nd were given a dividend of $0.11 per share. The ex-dividend date was Thursday, April 2nd. This represents a $0.44 dividend on an annualized basis and a dividend yield of 0.1%. Quanta Services's dividend payout ratio (DPR) is currently 6.47%.

About Quanta Services

Quanta Services, Inc is a leading specialty contractor that provides comprehensive infrastructure solutions for the electric power, pipeline and energy, and communications markets. Headquartered in Houston, Texas, the company delivers engineering, procurement, construction, installation, maintenance and repair services that support the development, modernization and ongoing operation of critical energy and communications networks.

In the electric power sector, Quanta works on transmission and distribution systems, substation construction and grid modernization projects that include integration of renewable generation and energy storage.

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