Quanta Services (NYSE:PWR) Earns “Buy” Rating from Truist Financial

Quanta Services (NYSE:PWR)‘s stock had its “buy” rating reissued by analysts at Truist Financial in a research report issued on Monday,Benzinga reports. They presently have a $976.00 price objective on the construction company’s stock, up from their previous price objective of $940.00. Truist Financial’s target price suggests a potential upside of 45.60% from the company’s previous close.

Other analysts have also issued reports about the stock. UBS Group initiated coverage on shares of Quanta Services in a research report on Friday. They issued a “buy” rating on the stock. Mizuho upped their price objective on shares of Quanta Services from $659.00 to $741.00 and gave the company a “neutral” rating in a research report on Monday. Wall Street Zen upgraded shares of Quanta Services from a “hold” rating to a “buy” rating in a research note on Sunday. Stifel Nicolaus set a $784.00 price target on Quanta Services in a research note on Friday, May 1st. Finally, JPMorgan Chase & Co. reaffirmed a “neutral” rating and issued a $714.00 price target on shares of Quanta Services in a report on Tuesday, July 21st. Nineteen research analysts have rated the stock with a Buy rating, nine have given a Hold rating and three have issued a Sell rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $758.96.

Quanta Services Stock Performance

Shares of PWR stock traded up $2.97 during trading hours on Monday, reaching $670.33. 81,625 shares of the company’s stock were exchanged, compared to its average volume of 1,176,645. Quanta Services has a fifty-two week low of $363.01 and a fifty-two week high of $788.75. The company has a quick ratio of 1.05, a current ratio of 1.10 and a debt-to-equity ratio of 0.56. The stock has a market capitalization of $100.78 billion, a P/E ratio of 76.76, a P/E/G ratio of 2.63 and a beta of 1.23. The business has a fifty day moving average price of $680.15 and a 200-day moving average price of $613.49.

Quanta Services (NYSE:PWR) last announced its quarterly earnings data on Thursday, July 30th. The construction company reported $4.24 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.31 by $0.93. Quanta Services had a net margin of 4.03% and a return on equity of 20.55%. The business had revenue of $9.56 billion for the quarter, compared to the consensus estimate of $8.61 billion. During the same quarter last year, the company posted $2.48 earnings per share. Quanta Services’s quarterly revenue was up 41.1% on a year-over-year basis. Quanta Services has set its FY 2026 guidance at 16.450-16.950 EPS. Analysts predict that Quanta Services will post 12.8 EPS for the current fiscal year.

Quanta Services announced that its Board of Directors has authorized a stock repurchase plan on Friday, May 22nd that allows the company to buyback $1.00 billion in outstanding shares. This buyback authorization allows the construction company to repurchase up to 0.9% of its stock through open market purchases. Stock buyback plans are generally an indication that the company’s board believes its shares are undervalued.

Insiders Place Their Bets

In related news, CEO Earl C. Jr. Austin sold 25,992 shares of the company’s stock in a transaction dated Tuesday, May 5th. The shares were sold at an average price of $770.71, for a total value of $20,032,294.32. Following the sale, the chief executive officer owned 16,508 shares of the company’s stock, valued at $12,722,880.68. The trade was a 61.16% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. 0.60% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Quanta Services

A number of institutional investors have recently added to or reduced their stakes in PWR. Boreal Capital Management LLC bought a new position in shares of Quanta Services during the first quarter valued at $27,000. Cedar Mountain Advisors LLC grew its holdings in shares of Quanta Services by 321.4% in the 4th quarter. Cedar Mountain Advisors LLC now owns 59 shares of the construction company’s stock worth $25,000 after purchasing an additional 45 shares during the last quarter. Flagship Harbor Advisors LLC bought a new stake in shares of Quanta Services in the 4th quarter worth about $28,000. Darwin Wealth Management LLC acquired a new stake in shares of Quanta Services during the 2nd quarter worth about $26,000. Finally, MV Capital Management Inc. bought a new position in Quanta Services during the 4th quarter valued at about $30,000. 90.49% of the stock is owned by institutional investors and hedge funds.

Quanta Services Company Profile

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.