Quanta Services (NYSE:PWR) Downgraded by Wall Street Zen to Hold

Wall Street Zen lowered shares of Quanta Services (NYSE:PWR) from a buy rating to a hold rating in a research report report published on Saturday.

A number of other equities analysts have also recently issued reports on the stock. TD Cowen increased their price objective on shares of Quanta Services from $570.00 to $775.00 and gave the stock a “buy” rating in a research report on Monday, May 4th. CICC Research began coverage on Quanta Services in a research report on Thursday, May 21st. They issued an “outperform” rating and a $872.00 target price for the company. Zacks Research downgraded Quanta Services from a “strong-buy” rating to a “hold” rating in a research note on Monday, July 6th. Oppenheimer upgraded Quanta Services from a “market perform” rating to an “outperform” rating and set a $800.00 price target on the stock in a report on Thursday, May 28th. Finally, BNP Paribas Exane began coverage on Quanta Services in a research note on Tuesday, April 14th. They issued a “neutral” rating for the company. Seventeen equities research analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $745.55.

Quanta Services Stock Performance

Shares of PWR stock opened at $626.03 on Friday. The firm has a 50 day moving average of $689.96 and a 200-day moving average of $605.59. The company has a market cap of $93.94 billion, a price-to-earnings ratio of 85.88, a price-to-earnings-growth ratio of 2.46 and a beta of 1.21. The company has a quick ratio of 1.09, a current ratio of 1.14 and a debt-to-equity ratio of 0.57. Quanta Services has a 52 week low of $363.01 and a 52 week high of $788.75.

Quanta Services (NYSE:PWR) last released its earnings results on Thursday, April 30th. The construction company reported $2.68 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.04 by $0.64. The company had revenue of $7.87 billion for the quarter, compared to the consensus estimate of $7 billion. Quanta Services had a net margin of 3.67% and a return on equity of 18.64%. Quanta Services’s quarterly revenue was up 26.3% compared to the same quarter last year. During the same quarter in the previous year, the company earned $1.78 EPS. Quanta Services has set its FY 2026 guidance at 13.550-14.250 EPS. On average, equities analysts forecast that Quanta Services will post 12.8 earnings per share for the current year.

Quanta Services declared that its Board of Directors has authorized a stock buyback plan on Friday, May 22nd that allows the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization allows the construction company to buy up to 0.9% of its shares through open market purchases. Shares repurchase plans are often an indication that the company’s board believes its shares are undervalued.

Quanta Services Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, July 13th. Investors of record on Wednesday, July 1st were issued a $0.11 dividend. This represents a $0.44 dividend on an annualized basis and a dividend yield of 0.1%. The ex-dividend date was Wednesday, July 1st. Quanta Services’s dividend payout ratio is currently 6.04%.

Insider Transactions at Quanta Services

In other Quanta Services news, CAO Paul Nobel sold 4,000 shares of Quanta Services stock in a transaction dated Monday, May 4th. The stock was sold at an average price of $756.98, for a total transaction of $3,027,920.00. Following the completion of the transaction, the chief accounting officer owned 8,080 shares in the company, valued at approximately $6,116,398.40. The trade was a 33.11% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Earl C. Jr. Austin sold 130,000 shares of the business’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 of the company’s stock, valued at $429,183,462.15. This represents a 18.93% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 159,992 shares of company stock valued at $123,244,714 in the last quarter. Company insiders own 0.60% of the company’s stock.

Hedge Funds Weigh In On Quanta Services

Several large investors have recently bought and sold shares of PWR. State Street Corp raised its holdings in shares of Quanta Services by 2.1% in the fourth quarter. State Street Corp now owns 6,206,761 shares of the construction company’s stock valued at $2,619,626,000 after purchasing an additional 126,014 shares during the last quarter. Geode Capital Management LLC boosted its holdings in Quanta Services by 2.8% during the fourth quarter. Geode Capital Management LLC now owns 4,086,544 shares of the construction company’s stock worth $1,718,371,000 after purchasing an additional 110,360 shares during the last quarter. Bank of America Corp DE grew its position in Quanta Services by 5.4% in the 1st quarter. Bank of America Corp DE now owns 3,444,711 shares of the construction company’s stock worth $1,891,215,000 after purchasing an additional 175,184 shares in the last quarter. Victory Capital Management Inc. grew its position 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 worth $1,230,493,000 after purchasing an additional 758,862 shares in the last quarter. Finally, Norges Bank purchased a new stake in Quanta Services in the 4th quarter valued at about $817,285,000. 90.49% of the stock is currently owned by institutional investors.

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.