Quanta Services (NYSE:PWR) Stock Rating Upgraded by Piper Sandler

Quanta Services (NYSE:PWR) was upgraded by investment analysts at Piper Sandler to a “strong-buy” rating in a research report issued on Tuesday, Zacks reports.

A number of other research analysts have also recently commented on the stock. UBS Group reaffirmed a “buy” rating on shares of Quanta Services in a research report on Monday, August 17th. Wall Street Zen upgraded shares of Quanta Services from a “hold” rating to a “buy” rating in a research report on Sunday, August 2nd. 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. Cantor Fitzgerald began coverage on shares of Quanta Services in a report on Friday, July 31st. They issued an “outperform” rating on the stock. Finally, KeyCorp raised shares of Quanta Services from a “sector weight” rating to an “overweight” rating and set a $807.00 price objective for the company in a research report on Friday, August 7th. Two investment analysts have rated the stock with a Strong Buy rating, twenty have given a Buy rating, eight have assigned a Hold rating and three have given a Sell rating to the company’s stock. Based on data from MarketBeat, Quanta Services currently has a consensus rating of “Moderate Buy” and a consensus target price of $767.72.

Quanta Services Price Performance

PWR stock opened at $627.62 on Tuesday. Quanta Services has a 52-week low of $373.39 and a 52-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 cap of $94.36 billion, a price-to-earnings ratio of 71.89, a price-to-earnings-growth ratio of 2.09 and a beta of 1.20. The business has a fifty day moving average of $647.11 and a two-hundred day moving average of $645.49.

Quanta Services (NYSE:PWR) last announced 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 for the quarter, compared to analyst estimates of $8.61 billion. Quanta Services had a return on equity of 20.55% and a net margin of 4.03%.The company’s quarterly revenue was up 41.1% on a year-over-year basis. During the same quarter in the prior year, the company posted $2.48 EPS. Quanta Services has set its FY 2026 guidance at 16.450-16.950 EPS. As a group, research analysts anticipate that Quanta Services will post 15.35 earnings per share for the current year.

Quanta Services announced that its Board of Directors has initiated a share buyback program 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 programs are usually a sign that the company’s board of directors believes its shares are undervalued.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in PWR. Cedar Mountain Advisors LLC grew its holdings in shares of Quanta Services by 321.4% in the fourth quarter. Cedar Mountain Advisors LLC now owns 59 shares of the construction company’s stock valued at $25,000 after purchasing an additional 45 shares in the last quarter. Darwin Wealth Management LLC acquired a new stake in Quanta Services during the 2nd quarter worth approximately $26,000. Boreal Capital Management LLC purchased a new position in Quanta Services in the 1st quarter valued at approximately $27,000. MV Capital Management Inc. acquired a new position in shares of Quanta Services in the fourth quarter worth $30,000. Finally, Meeder Asset Management Inc. grew its stake in shares of Quanta Services by 221.7% in the fourth quarter. Meeder Asset Management Inc. now owns 74 shares of the construction company’s stock worth $31,000 after acquiring an additional 51 shares in the last quarter. Hedge funds and other institutional investors own 90.49% of the company’s stock.

About Quanta Services

Quanta Services, Inc is an infrastructure solutions provider serving the electric power, communications, pipeline, industrial and renewable energy industries. The company designs, installs, repairs and maintains infrastructure used to generate, transmit and distribute electricity, as well as systems that support telecommunications, natural gas and other energy-related activities.

Its services include engineering, procurement and construction; utility and substation work; transmission and distribution projects; storm restoration; fiber-optic and wireless network deployment; pipeline construction and maintenance; and development of renewable energy and energy storage infrastructure.