Quanta Services’ (PWR) Buy Rating Reiterated at Truist Financial

Truist Financial reissued their buy rating on shares of Quanta Services (NYSE:PWR) in a report issued on Monday,Benzinga reports. They currently have a $976.00 price target on the construction company’s stock, up from their prior price target of $940.00.

Other equities analysts also recently issued research reports about the company. Wall Street Zen upgraded Quanta Services from a “hold” rating to a “buy” rating in a research report on Sunday. BNP Paribas Exane assumed coverage on shares of Quanta Services in a research note on Tuesday, April 14th. They issued a “neutral” rating on the stock. Sanford C. Bernstein reiterated a “market perform” rating and issued a $748.00 target price on shares of Quanta Services in a research report on Friday, July 31st. Stifel Nicolaus set a $784.00 price target on shares of Quanta Services in a research note on Friday, May 1st. Finally, JPMorgan Chase & Co. reiterated a “neutral” rating and set a $714.00 price objective on shares of Quanta Services in a research note on Tuesday, July 21st. Twenty equities research analysts have rated the stock with a Buy rating, eight have issued a Hold rating and three have given a Sell rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $765.48.

Quanta Services Stock Performance

Shares of NYSE PWR opened at $683.96 on Monday. The company has a market capitalization of $102.83 billion, a PE ratio of 78.35, a price-to-earnings-growth ratio of 2.27 and a beta of 1.23. 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’s fifty day moving average price is $677.36 and its 200 day moving average price is $618.63. Quanta Services has a 1 year low of $363.01 and a 1 year high of $788.75.

Quanta Services (NYSE:PWR) last released its quarterly earnings data on Thursday, July 30th. The construction company reported $4.24 earnings per share for the quarter, beating analysts’ consensus estimates of $3.31 by $0.93. The company 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 firm’s revenue for the quarter 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. On average, research analysts predict that Quanta Services will post 15.4 earnings per share for the current year.

Quanta Services announced that its board has initiated a share 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 purchase up to 0.9% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s board of directors believes its shares are undervalued.

Quanta Services Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, July 13th. Stockholders of record on Wednesday, July 1st were given a $0.11 dividend. The ex-dividend date was Wednesday, July 1st. This represents a $0.44 dividend on an annualized basis and a dividend yield of 0.1%. Quanta Services’s dividend payout ratio is 5.04%.

Institutional Trading of Quanta Services

Hedge funds and other institutional investors have recently modified their holdings of the stock. Cetera Investment Advisers lifted its stake in Quanta Services by 5.8% during the first quarter. Cetera Investment Advisers now owns 74,134 shares of the construction company’s stock worth $40,701,000 after purchasing an additional 4,087 shares in the last quarter. Evoke Wealth LLC purchased a new stake in shares of Quanta Services in the 4th quarter valued at $368,000. Sequoia Financial Advisors LLC lifted its stake in Quanta Services by 3.1% during the 4th quarter. Sequoia Financial Advisors LLC now owns 130,436 shares of the construction company’s stock worth $55,052,000 after acquiring an additional 3,966 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. boosted its holdings in Quanta Services by 9.9% during the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 50,602 shares of the construction company’s stock valued at $21,357,000 after acquiring an additional 4,568 shares during the period. Finally, Lebenthal Global Advisors LLC grew its position in Quanta Services by 9.8% in the 4th quarter. Lebenthal Global Advisors LLC now owns 9,277 shares of the construction company’s stock valued at $3,915,000 after acquiring an additional 830 shares in the last quarter. 90.49% of the stock is owned by institutional investors and hedge funds.

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.