Quanta Services (NYSE:PWR) Shares Gap Up – Should You Buy?

Shares of Quanta Services, Inc. (NYSE:PWR) gapped up prior to trading on Wednesday. The stock had previously closed at $578.83, but opened at $600.00. Quanta Services shares last traded at $590.9060, with a volume of 353,424 shares changing hands.

Wall Street Analyst Weigh In

A number of research firms have issued reports on PWR. Guggenheim upgraded Quanta Services from a “neutral” rating to a “buy” rating and set a $800.00 price target for the company in a research note on Friday, July 31st. Benchmark cut shares of Quanta Services to a “sell” rating in a research note on Friday, July 31st. Deutsche Bank Aktiengesellschaft downgraded shares of Quanta Services to a “sell” rating in a report on Friday, July 31st. Cantor Fitzgerald restated an “overweight” rating and set a $862.00 target price on shares of Quanta Services in a research report on Monday, October 5th. Finally, Argus set a $800.00 price target on shares of Quanta Services in a research report on Wednesday, August 5th. Twenty-three analysts have rated the stock with a Buy rating, seven have issued a Hold rating and three have issued a Sell rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $761.84.

Quanta Services Stock Performance

The company has a market capitalization of $90.21 billion, a PE ratio of 68.82 and a beta of 1.27. The company’s fifty day moving average is $636.29 and its 200-day moving average is $620.22.

Quanta Services (NYSE:PWR) last posted its quarterly earnings results on Thursday, July 30th. The construction company reported $4.24 earnings per share for the quarter, topping analysts’ consensus estimates of $3.31 by $0.93. The firm had revenue of $9.56 billion during the quarter, compared to the consensus estimate of $8.61 billion. The business’s revenue for the quarter was up 41.1% compared to the same quarter last year. During the same quarter in the previous year, the company earned $2.48 earnings per share. Quanta Services has set its FY 2026 guidance at 16.450-16.950 EPS. On average, sell-side analysts expect that Quanta Services, Inc. will post 15.37 EPS for the current fiscal year.

Quanta Services Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, October 9th. Investors 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 annualized dividend and a yield of 0.1%. Quanta Services’s dividend payout ratio is currently 5.04%.

Hedge Funds Weigh In On Quanta Services

A number of hedge funds have recently made changes to their positions in PWR. Cetera Investment Advisers raised its stake in Quanta Services by 5.8% during the 1st quarter. Cetera Investment Advisers now owns 74,134 shares of the construction company’s stock valued at $40,701,000 after purchasing an additional 4,087 shares during the period. State Street Corp boosted its stake in Quanta Services by 4.7% in the 2nd quarter. State Street Corp now owns 6,581,807 shares of the construction company’s stock worth $4,739,164,000 after purchasing an additional 296,893 shares during the period. WINTON GROUP Ltd bought a new position in Quanta Services in the 2nd quarter worth approximately $1,066,000. Envestnet Asset Management Inc. grew its holdings in Quanta Services by 11.9% during the 2nd quarter. Envestnet Asset Management Inc. now owns 225,059 shares of the construction company’s stock valued at $162,051,000 after buying an additional 23,850 shares in the last quarter. Finally, Waverly Advisors LLC grew its holdings in Quanta Services by 3,275.5% during the 2nd quarter. Waverly Advisors LLC now owns 62,953 shares of the construction company’s stock valued at $45,329,000 after buying an additional 61,088 shares in the last quarter. Institutional investors own 90.49% of the company’s stock.

About Quanta Services

Quanta Services, Inc is an infrastructure solutions provider headquartered in Houston, Texas. The company designs, installs, repairs, maintains and upgrades essential infrastructure for the electric power, communications, pipeline, industrial and energy industries.

Its services include electric transmission and distribution construction, substation and renewable-energy infrastructure, storm restoration, fiber-optic and wireless communications networks, natural gas and pipeline construction, and related engineering and maintenance work.