Sanford C. Bernstein Issues Pessimistic Forecast for Quanta Services (NYSE:PWR) Stock Price

Quanta Services (NYSE:PWR) had its price objective dropped by equities researchers at Sanford C. Bernstein from $432.00 to $428.00 in a research note issued on Friday, MarketBeat Ratings reports. The brokerage currently has a “market perform” rating on the construction company’s stock. Sanford C. Bernstein’s price objective indicates a potential upside of 1.62% from the company’s previous close.

Several other brokerages have also weighed in on PWR. JPMorgan Chase & Co. raised Quanta Services from a “neutral” rating to an “overweight” rating and lifted their price objective for the stock from $457.00 to $515.00 in a report on Monday, December 8th. Wall Street Zen lowered shares of Quanta Services from a “buy” rating to a “hold” rating in a research report on Saturday, August 30th. Argus set a $540.00 price target on shares of Quanta Services in a research note on Friday, October 31st. Stifel Nicolaus set a $495.00 price objective on shares of Quanta Services in a research note on Monday, November 3rd. Finally, Jefferies Financial Group raised their price target on Quanta Services from $469.00 to $517.00 and gave the stock a “buy” rating in a report on Monday, November 3rd. Fourteen analysts have rated the stock with a Buy rating and eleven have assigned a Hold rating to the company’s stock. According to MarketBeat.com, Quanta Services currently has a consensus rating of “Moderate Buy” and a consensus price target of $450.10.

Quanta Services Price Performance

Shares of NYSE:PWR opened at $421.16 on Friday. The company has a market capitalization of $62.80 billion, a P/E ratio of 62.39, a price-to-earnings-growth ratio of 2.35 and a beta of 1.14. The company’s 50-day moving average is $443.13 and its 200 day moving average is $405.54. The company has a debt-to-equity ratio of 0.66, a quick ratio of 1.30 and a current ratio of 1.34. Quanta Services has a fifty-two week low of $227.08 and a fifty-two week high of $473.99.

Quanta Services (NYSE:PWR) last released its earnings results on Thursday, October 30th. The construction company reported $3.33 earnings per share for the quarter, beating analysts’ consensus estimates of $3.24 by $0.09. Quanta Services had a net margin of 3.74% and a return on equity of 18.74%. The firm had revenue of $7.63 billion during the quarter, compared to the consensus estimate of $7.41 billion. During the same period in the prior year, the firm earned $2.72 EPS. The company’s revenue was up 17.5% compared to the same quarter last year. Quanta Services has set its FY 2025 guidance at 10.330-10.830 EPS. On average, equities research analysts forecast that Quanta Services will post 9.34 earnings per share for the current year.

Insider Activity

In related news, EVP Donald Wayne sold 14,000 shares of the stock in a transaction on Thursday, November 6th. The stock was sold at an average price of $443.81, for a total value of $6,213,340.00. Following the sale, the executive vice president owned 34,575 shares in the company, valued at approximately $15,344,730.75. This trade represents a 28.82% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Worthing Jackman sold 6,349 shares of Quanta Services stock in a transaction on Wednesday, November 5th. The shares were sold at an average price of $450.45, for a total value of $2,859,907.05. Following the sale, the director directly owned 2,730 shares of the company’s stock, valued at $1,229,728.50. This represents a 69.93% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last three months, insiders sold 32,002 shares of company stock worth $14,295,857. Company insiders own 1.10% of the company’s stock.

Institutional Investors Weigh In On Quanta Services

Institutional investors and hedge funds have recently bought and sold shares of the stock. Copia Wealth Management increased its holdings in shares of Quanta Services by 509.1% in the 2nd quarter. Copia Wealth Management now owns 67 shares of the construction company’s stock worth $25,000 after buying an additional 56 shares during the last quarter. SOA Wealth Advisors LLC. grew its position in Quanta Services by 159.3% in the second quarter. SOA Wealth Advisors LLC. now owns 70 shares of the construction company’s stock worth $26,000 after acquiring an additional 43 shares in the last quarter. Darwin Wealth Management LLC bought a new position in Quanta Services in the second quarter valued at $26,000. Activest Wealth Management raised its position in Quanta Services by 94.1% during the third quarter. Activest Wealth Management now owns 66 shares of the construction company’s stock valued at $27,000 after purchasing an additional 32 shares in the last quarter. Finally, Solstein Capital LLC lifted its stake in Quanta Services by 185.7% during the second quarter. Solstein Capital LLC now owns 80 shares of the construction company’s stock worth $30,000 after purchasing an additional 52 shares during the last quarter. 90.49% of the stock is owned by hedge funds and other institutional investors.

About Quanta Services

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.