Quanta Services (NYSE:PWR) Raised to “Strong-Buy” at Piper Sandler

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

Several other research firms also recently weighed in on PWR. Morgan Stanley downgraded Quanta Services to an “underweight” rating in a research report on Monday, August 3rd. Deutsche Bank Aktiengesellschaft cut Quanta Services to a “sell” rating in a research report on Friday, July 31st. Truist Financial reissued a “buy” rating and issued a $976.00 price objective (up from $940.00) on shares of Quanta Services in a research note on Monday, August 3rd. Cantor Fitzgerald began coverage on Quanta Services in a report on Friday, July 31st. They issued an “outperform” rating on the stock. Finally, Citigroup lifted their target price on shares of Quanta Services from $837.00 to $871.00 and gave the stock a “buy” rating in a research note on Friday, July 31st. Two 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 assigned a Sell rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $767.72.

Quanta Services Stock Performance

PWR opened at $627.62 on Tuesday. The firm’s fifty day simple moving average is $647.11 and its two-hundred day simple moving average is $645.49. Quanta Services has a 52-week low of $373.39 and a 52-week high of $788.75. The company has a market cap of $94.36 billion, a price-to-earnings ratio of 71.89, a PEG ratio of 2.09 and a beta of 1.20. The company has a quick ratio of 1.05, a current ratio of 1.10 and a debt-to-equity ratio of 0.56.

Quanta Services (NYSE:PWR) last released its earnings results on Thursday, July 30th. The construction company reported $4.24 EPS for the quarter, topping analysts’ consensus estimates of $3.31 by $0.93. The business had revenue of $9.56 billion during the quarter, compared to analysts’ expectations of $8.61 billion. Quanta Services had a net margin of 4.03% and a return on equity of 20.55%. The company’s quarterly revenue was up 41.1% on a year-over-year basis. 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. Equities analysts anticipate that Quanta Services will post 15.35 earnings per share for the current fiscal year.

Quanta Services announced that its board has approved a stock repurchase plan 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 plans are usually an indication that the company’s board believes its shares are undervalued.

Hedge Funds Weigh In On Quanta Services

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Brighton Jones LLC acquired a new stake in shares of Quanta Services in the 4th quarter worth $298,000. Woodline Partners LP boosted its position in shares of Quanta Services by 40.7% during the 1st quarter. Woodline Partners LP now owns 12,471 shares of the construction company’s stock valued at $3,170,000 after acquiring an additional 3,606 shares during the last quarter. Arrowstreet Capital Limited Partnership purchased a new stake in shares of Quanta Services in the second quarter valued at about $4,632,000. Marshall Wace LLP acquired a new stake in Quanta Services during the second quarter worth about $996,000. Finally, StoneX Group Inc. acquired a new stake in Quanta Services during the second quarter worth about $204,000. Institutional investors and hedge funds own 90.49% of the company’s stock.

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.