Quanta Services, Inc. $PWR Stock: Allspring Global Investments Holdings LLC Lowers Holdings

Key Points

• Allspring Global Investments Holdings cut its Quanta Services stake by 4.7% in the third quarter, selling 14,087 shares. It retained 284,743 shares, valued at about $188.7 million.
• Quanta beat quarterly expectations, reporting $6.06 in earnings per share and $12.01 billion in revenue, versus analyst estimates of $5.02 and $11.03 billion. Revenue increased 57.4% year over year.
• Analyst sentiment is broadly positive: the stock carries a consensus “Moderate Buy” rating and an average price target of $763.81, though recent AI-related stock-market weakness has pressured shares.

Allspring Global Investments Holdings LLC cut its stake in Quanta Services, Inc. (NYSE:PWR - Free Report) by 4.7% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 284,743 shares of the construction company's stock after selling 14,087 shares during the quarter. Allspring Global Investments Holdings LLC owned about 0.19% of Quanta Services worth $188,671,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently modified their holdings of the stock. Accuvest Global Advisors acquired a new position in Quanta Services during the 3rd quarter worth approximately $513,000. Bryn Mawr Trust Advisors LLC lifted its position in shares of Quanta Services by 0.7% during the third quarter. Bryn Mawr Trust Advisors LLC now owns 3,746 shares of the construction company's stock worth $2,407,000 after purchasing an additional 27 shares in the last quarter. M Holdings Securities Inc. purchased a new position in shares of Quanta Services in the third quarter valued at $957,000. Brighton Jones LLC boosted its stake in shares of Quanta Services by 0.7% in the third quarter. Brighton Jones LLC now owns 2,515 shares of the construction company's stock valued at $1,616,000 after purchasing an additional 18 shares during the period. Finally, Candriam S.C.A. grew its holdings in Quanta Services by 0.5% during the 3rd quarter. Candriam S.C.A. now owns 81,210 shares of the construction company's stock valued at $52,369,000 after purchasing an additional 442 shares in the last quarter. Institutional investors and hedge funds own 90.49% of the company's stock.

Quanta Services News Summary

Here are the key news stories impacting Quanta Services this week:

• Positive Sentiment: Quanta’s latest reported quarter topped analyst estimates: earnings were $6.06 per share versus $5.02 expected, while revenue reached $12.01 billion versus $11.03 billion expected. The results reinforce demand for the company’s infrastructure work. Quanta Services stock faces a higher execution bar after record quarter
• Positive Sentiment: Bernstein initiated a Buy view on PWR, and Zacks Research upgraded its rating from Hold to Strong Buy, adding to favorable analyst sentiment. Quanta Services gets a Buy from Bernstein Zacks Research upgrade
• Neutral Sentiment: Oppenheimer maintained its Outperform rating after PWR fell, signaling continued confidence but no new upgrade. Oppenheimer maintains Outperform
• Negative Sentiment: A post-election backlash against the AI trade has pressured industrial and AI-infrastructure shares, with Quanta among the stocks singled out in the selloff. Weakness in AI-related stocks could weigh on PWR despite its strong fundamentals. Industrial stocks hit by AI backlash selloff
• Negative Sentiment: Following the record quarter, investors may expect continued exceptional execution, leaving less room for future results to disappoint. Execution bar after record quarter

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on the stock. Raymond James Financial set a $830.00 price target on shares of Quanta Services in a research note on Thursday, October 29th. Citigroup upped their price objective on shares of Quanta Services from $871.00 to $882.00 and gave the company a "buy" rating in a research report on Friday, October 30th. Weiss Ratings upgraded Quanta Services from a "hold (c+)" rating to a "buy (b-)" rating in a research note on Tuesday, October 13th. Zacks Research raised Quanta Services from a "hold" rating to a "strong-buy" rating in a research report on Tuesday, November 3rd. Finally, Cantor Fitzgerald reiterated an "overweight" rating and issued a $862.00 price target on shares of Quanta Services in a research note on Monday, October 5th. One research analyst has rated the stock with a Strong Buy rating, twenty-three have given a Buy rating, six have given a Hold rating and three have given a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $763.81.

Quanta Services Trading Down 0.0%

NYSE PWR opened at $540.88 on Monday. Quanta Services, Inc. has a 12 month low of $408.36 and a 12 month high of $788.75. The company has a debt-to-equity ratio of 0.60, a current ratio of 1.16 and a quick ratio of 1.13. The company has a market capitalization of $81.50 billion, a price-to-earnings ratio of 48.99, a price-to-earnings-growth ratio of 1.38 and a beta of 1.29. The company's fifty day moving average price is $628.83 and its two-hundred day moving average price is $626.39.

Quanta Services (NYSE:PWR - Get Free Report) last announced its quarterly earnings data on Thursday, October 29th. The construction company reported $6.06 earnings per share for the quarter, topping the consensus estimate of $5.02 by $1.04. The company had revenue of $12.01 billion during the quarter, compared to analyst estimates of $11.03 billion. Quanta Services had a net margin of 4.51% and a return on equity of 23.56%. The firm's revenue for the quarter was up 57.4% compared to the same quarter last year. During the same period last year, the business earned $3.33 EPS. As a group, research analysts predict that Quanta Services, Inc. will post 16.61 earnings per share for the current fiscal year.

Quanta Services Announces Dividend

The company also recently declared 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 was Thursday, October 1st. Quanta Services's dividend payout ratio (DPR) is 3.99%.

Quanta Services Company Profile

Quanta Services, Inc provides specialized contracting and infrastructure services to the electric power, energy and communications industries. Its work spans the planning, design, construction, repair and maintenance of essential infrastructure.

The company's services include electric transmission and distribution lines, substations, renewable energy facilities, natural gas and pipeline systems, and communications networks. Quanta supports projects across the infrastructure lifecycle, from initial development and construction to ongoing upgrades and maintenance.

Founded in 1997, Quanta serves customers primarily in North America, with operations also extending to Australia and other international markets.

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