Quanta Services (NYSE:PWR) Shares Down 3.8% – What’s Next?

Quanta Services, Inc. (NYSE:PWR)’s share price traded down 3.8% during trading on Friday . The stock traded as low as $635.57 and last traded at $637.35. 500,566 shares traded hands during trading, a decline of 57% from the average daily volume of 1,166,032 shares. The stock had previously closed at $662.47.

Analyst Ratings Changes

Several analysts have issued reports on PWR shares. TD Cowen increased their price objective on shares of Quanta Services from $775.00 to $785.00 and gave the company a “buy” rating in a research report on Monday, August 3rd. BTIG Research cut shares of Quanta Services to a “hold” rating in a research report on Friday, July 31st. CICC Research assumed coverage on shares of Quanta Services in a research note on Thursday, May 21st. They issued an “outperform” rating and a $872.00 target price for the company. Stifel Nicolaus set a $784.00 price target on shares of Quanta Services in a report on Friday, May 1st. Finally, Oppenheimer raised shares of Quanta Services from a “market perform” rating to an “outperform” rating and set a $800.00 price target on the stock in a research note on Thursday, May 28th. One research analyst has rated the stock with a Strong Buy rating, twenty have given a Buy rating, eight have issued a Hold rating and three have assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $769.25.

Quanta Services Stock Performance

The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.05 and a current ratio of 1.10. The company has a market capitalization of $96.45 billion, a PE ratio of 73.48, a PEG ratio of 2.10 and a beta of 1.23. The company has a 50 day moving average price of $671.56 and a 200 day moving average price of $634.66.

Quanta Services (NYSE:PWR) last issued its quarterly earnings results on Thursday, July 30th. The construction company reported $4.24 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 during the quarter, compared to analyst estimates of $8.61 billion. During the same quarter in the previous year, the firm earned $2.48 earnings per share. The business’s revenue was up 41.1% compared to the same quarter last year. Quanta Services has set its FY 2026 guidance at 16.450-16.950 EPS. Equities analysts forecast that Quanta Services, Inc. will post 15.35 EPS for the current year.

Quanta Services announced that its board has authorized a stock buyback program on Friday, May 22nd that authorizes the company to repurchase $1.00 billion in shares. This repurchase authorization authorizes the construction company to reacquire up to 0.9% of its shares through open market purchases. Shares repurchase programs are often a sign that the company’s board believes its shares are undervalued.

Hedge Funds Weigh In On Quanta Services

Several large investors have recently modified their holdings of the stock. Saudi Central Bank increased its holdings in Quanta Services by 90.8% in the second quarter. Saudi Central Bank now owns 10,504 shares of the construction company’s stock valued at $7,563,000 after buying an additional 5,000 shares during the last quarter. Hutchens & Kramer Investment Management Group LLC bought a new position in Quanta Services during the 2nd quarter worth approximately $713,000. Fortitude Advisory Group L.L.C. grew its position in shares of Quanta Services by 0.9% in the 2nd quarter. Fortitude Advisory Group L.L.C. now owns 3,114 shares of the construction company’s stock worth $2,242,000 after acquiring an additional 29 shares in the last quarter. Compass Financial Management LLC acquired a new position in shares of Quanta Services in the 2nd quarter worth approximately $555,000. Finally, NBH Bank bought a new stake in shares of Quanta Services in the 2nd quarter valued at approximately $84,000. Institutional investors own 90.49% of the company’s stock.

About Quanta Services

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.