Quanta Services, Inc. $PWR Stock Sold by Parallel Advisors LLC

Key Points

• Parallel Advisors cut its Quanta Services stake by 10.9% in the third quarter, selling 2,177 shares and retaining 17,869 shares valued at about $11.5 million.
• Quanta reported quarterly EPS of $6.06 versus analysts’ $5.02 estimate, while revenue of $12.01 billion also beat expectations and rose 57.4% year over year.
• Analyst sentiment remains broadly positive: MarketBeat cited a “Moderate Buy” consensus and an average price target of $763.81, though AI-related stock-market weakness and elevated expectations after the strong quarter pose risks.

Parallel Advisors LLC lowered its stake in Quanta Services, Inc. (NYSE:PWR - Free Report) by 10.9% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 17,869 shares of the construction company's stock after selling 2,177 shares during the period. Parallel Advisors LLC's holdings in Quanta Services were worth $11,481,000 as of its most recent SEC filing.

Several other large investors also recently made changes to their positions in PWR. Flagship Wealth Advisors LLC boosted its position in Quanta Services by 12.6% during the third quarter. Flagship Wealth Advisors LLC now owns 1,271 shares of the construction company's stock worth $817,000 after purchasing an additional 142 shares during the period. Tamar Securities LLC raised its position in shares of Quanta Services by 2.3% in the third quarter. Tamar Securities LLC now owns 33,999 shares of the construction company's stock valued at $21,845,000 after purchasing an additional 755 shares during the period. Plancorp LLC bought a new position in shares of Quanta Services in the third quarter valued at approximately $326,000. Alps Advisors Inc. lifted its stake in shares of Quanta Services by 7.2% in the third quarter. Alps Advisors Inc. now owns 4,432 shares of the construction company's stock worth $2,848,000 after buying an additional 299 shares during the last quarter. Finally, CenterBook Partners LP lifted its stake in shares of Quanta Services by 493.3% in the third quarter. CenterBook Partners LP now owns 8,757 shares of the construction company's stock worth $5,626,000 after buying an additional 7,281 shares during the last quarter. Institutional investors own 90.49% of the company's stock.

Key Stories Impacting Quanta Services

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

Quanta Services Stock Performance

Shares of PWR stock traded up $31.82 during trading hours on Friday, reaching $540.88. 2,775,356 shares of the company's stock were exchanged, compared to its average volume of 1,301,242. Quanta Services, Inc. has a fifty-two week low of $408.36 and a fifty-two week high of $788.75. The stock has a market capitalization of $81.50 billion, a P/E ratio of 48.99, a P/E/G ratio of 1.62 and a beta of 1.29. The business has a fifty day moving average price of $628.83 and a 200-day moving average price of $626.39. The company has a quick ratio of 1.13, a current ratio of 1.16 and a debt-to-equity ratio of 0.60.

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 (EPS) for the quarter, topping the consensus estimate of $5.02 by $1.04. The business had revenue of $12.01 billion for the quarter, compared to the consensus estimate 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 last year, the company posted $3.33 earnings per share. Analysts predict that Quanta Services, Inc. will post 16.61 EPS for the current fiscal year.

Quanta Services Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, October 9th. Shareholders of record on Thursday, October 1st were issued a $0.11 dividend. The ex-dividend date of this dividend was Thursday, October 1st. This represents a $0.44 dividend on an annualized basis and a yield of 0.1%. Quanta Services's dividend payout ratio is 3.99%.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on PWR shares. Citigroup upped their price objective on shares of Quanta Services from $871.00 to $882.00 and gave the stock a "buy" rating in a report on Friday, October 30th. Weiss Ratings upgraded shares of Quanta Services from a "hold (c+)" rating to a "buy (b-)" rating in a report on Tuesday, October 13th. Morgan Stanley lowered shares of Quanta Services to an "underweight" rating in a research report on Monday, August 3rd. Truist Financial boosted their target price on shares of Quanta Services from $945.00 to $960.00 and gave the stock a "buy" rating in a research report on Tuesday, October 27th. Finally, Robert W. Baird set a $728.00 price target on shares of Quanta Services in a report on Friday, July 31st. One analyst has rated the stock with a Strong Buy rating, twenty-three have issued a Buy rating, six have given a Hold rating and three have assigned a Sell rating to the company's stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $763.81.

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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