Quanta Services (NYSE:PWR – Get Free Report) was downgraded by stock analysts at Wall Street Zen from a “buy” rating to a “hold” rating in a note issued to investors on Saturday, Wall Street Zen reports.
Other research analysts have also recently issued research reports about the stock. Benchmark cut shares of Quanta Services to a “sell” rating in a report on Friday, July 31st. CICC Research assumed coverage on Quanta Services in a research note on Thursday, May 21st. They issued an “outperform” rating and a $872.00 price target for the company. Weiss Ratings cut Quanta Services from a “buy (b-)” rating to a “hold (c+)” rating in a report on Friday, August 21st. Morgan Stanley downgraded Quanta Services to an “underweight” rating in a research report on Monday, August 3rd. Finally, Jefferies Financial Group restated a “buy” rating and issued a $833.00 price objective on shares of Quanta Services in a research report on Thursday, August 13th. Two equities research analysts have rated the stock with a Strong Buy rating, twenty-one have issued a Buy rating, seven have given a Hold rating and three have assigned a Sell rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $767.72.
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Quanta Services Price Performance
Quanta Services (NYSE:PWR – Get Free Report) last released its quarterly earnings data 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 for 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 business’s quarterly revenue was up 41.1% compared to the same quarter last year. During the same quarter in the prior year, the business 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 forecast that Quanta Services will post 15.35 EPS for the current year.
Quanta Services announced that its board has initiated a stock buyback program on Friday, May 22nd that permits the company to buyback $1.00 billion in shares. This buyback authorization permits the construction company to purchase 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 shares are undervalued.
Hedge Funds Weigh In On Quanta Services
Institutional investors and hedge funds have recently bought and sold shares of the company. Brighton Jones LLC acquired a new position in Quanta Services in the fourth quarter valued at approximately $298,000. Woodline Partners LP increased its stake in Quanta Services by 40.7% during the first quarter. Woodline Partners LP now owns 12,471 shares of the construction company’s stock worth $3,170,000 after acquiring an additional 3,606 shares during the last quarter. Arrowstreet Capital Limited Partnership purchased a new stake in Quanta Services in the second quarter valued at $4,632,000. Marshall Wace LLP acquired a new position in shares of Quanta Services in the 2nd quarter valued at $996,000. Finally, StoneX Group Inc. acquired a new position in shares of Quanta Services in the 2nd quarter valued at $204,000. 90.49% of the stock is currently owned by institutional investors and hedge funds.
Quanta Services Company Profile
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.
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