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

Quanta Services (NYSE:PWR)‘s stock had its “buy” rating reiterated by research analysts at Truist Financial in a research note 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 stock’s current price.

Several other equities analysts have also commented on the company. Wall Street Zen raised Quanta Services from a “hold” rating to a “buy” rating in a report on Sunday. Deutsche Bank Aktiengesellschaft downgraded Quanta Services to a “sell” rating in a report on Friday. Sanford C. Bernstein restated a “market perform” rating and set a $748.00 price objective on shares of Quanta Services in a research note on Friday. BNP Paribas Exane assumed coverage on Quanta Services in a research report on Tuesday, April 14th. They issued a “neutral” rating on the stock. Finally, Raymond James Financial began coverage on Quanta Services in a research note on Friday. They issued an “outperform” rating on the stock. Nineteen investment analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and three have given a Sell rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $758.96.

Quanta Services Stock Performance

Shares of NYSE:PWR traded up $2.97 on Monday, reaching $670.33. 81,625 shares of the company’s stock were exchanged, compared to its average volume of 1,176,645. The business’s 50-day moving average is $680.15 and its two-hundred day moving average is $613.49. The company has a quick ratio of 1.05, a current ratio of 1.10 and a debt-to-equity ratio of 0.56. Quanta Services has a fifty-two week low of $363.01 and a fifty-two week high of $788.75. The firm has a market capitalization of $100.78 billion, a price-to-earnings ratio of 76.76, a PEG ratio of 2.63 and a beta of 1.23.

Quanta Services (NYSE:PWR) last posted its quarterly earnings results on Thursday, July 30th. The construction company reported $4.24 EPS for the quarter, beating the consensus estimate of $3.31 by $0.93. The business had revenue of $9.56 billion during the quarter, compared to analyst estimates of $8.61 billion. Quanta Services had a net margin of 4.03% and a return on equity of 20.55%. The company’s quarterly revenue was up 41.1% on a year-over-year basis. During the same period in the previous year, the business posted $2.48 EPS. Quanta Services has set its FY 2026 guidance at 16.450-16.950 EPS. As a group, equities research analysts forecast that Quanta Services will post 12.8 EPS for the current year.

Quanta Services declared that its Board of Directors has initiated a stock buyback program on Friday, May 22nd that allows the company to buyback $1.00 billion in shares. This buyback authorization allows the construction company to repurchase up to 0.9% of its stock through open market purchases. Stock buyback programs are typically an indication that the company’s management believes its stock is undervalued.

Insider Transactions at Quanta Services

In related news, CEO Earl C. Jr. Austin sold 130,000 shares of the firm’s stock in a transaction that occurred on Tuesday, May 5th. The stock was sold at an average price of $770.65, for a total value of $100,184,500.00. Following the sale, the chief executive officer directly owned 556,911 shares in the company, valued at $429,183,462.15. This trade represents a 18.93% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.60% of the stock is owned by company insiders.

Institutional Trading of Quanta Services

Institutional investors have recently modified their holdings of the company. Norges Bank acquired a new stake in shares of Quanta Services in the fourth quarter worth $817,285,000. Victory Capital Management Inc. grew its stake in Quanta Services by 35.2% in the 4th quarter. Victory Capital Management Inc. now owns 2,915,440 shares of the construction company’s stock valued at $1,230,493,000 after buying an additional 758,862 shares during the last quarter. Corient Private Wealth LLC raised its holdings in Quanta Services by 137.6% in the 4th quarter. Corient Private Wealth LLC now owns 1,151,650 shares of the construction company’s stock worth $486,065,000 after acquiring an additional 667,050 shares during the period. Sands Capital Management LLC bought a new position in Quanta Services in the 4th quarter worth $243,485,000. Finally, Select Equity Group L.P. lifted its position in Quanta Services by 69.3% during the 2nd quarter. Select Equity Group L.P. now owns 1,017,123 shares of the construction company’s stock worth $384,554,000 after acquiring an additional 416,395 shares during the last quarter. Institutional investors and hedge funds own 90.49% of the company’s stock.

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.