Quanta Services (NYSE:PWR) Rating Increased to Strong-Buy at Piper Sandler

Piper Sandler upgraded shares of Quanta Services (NYSE:PWR) to a strong-buy rating in a research report sent to investors on Tuesday morning,Zacks reports.

PWR has been the subject of a number of other reports. BTIG Research cut shares of Quanta Services to a “hold” rating in a research report on Friday, July 31st. TD Cowen lifted their target price on Quanta Services from $775.00 to $785.00 and gave the stock a “buy” rating in a research report on Monday, August 3rd. Jefferies Financial Group reissued a “buy” rating and issued a $833.00 target price on shares of Quanta Services in a research report on Thursday, August 13th. Weiss Ratings downgraded Quanta Services from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Friday, August 21st. Finally, Truist Financial reaffirmed a “buy” rating and set a $976.00 price target (up from $940.00) on shares of Quanta Services in a research report on Monday, August 3rd. Two analysts have rated the stock with a Strong Buy rating, twenty have assigned a Buy rating, eight have assigned a Hold rating and three have issued a Sell rating to the company’s stock. Based on data from MarketBeat, Quanta Services currently has a consensus rating of “Moderate Buy” and an average price target of $767.72.

Quanta Services Stock Performance

Shares of Quanta Services stock opened at $627.62 on Tuesday. The firm has a market capitalization of $94.36 billion, a P/E ratio of 71.89, a P/E/G ratio of 2.09 and a beta of 1.20. 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 firm’s 50 day moving average is $647.11 and its two-hundred day moving average is $645.49.

Quanta Services (NYSE:PWR) last issued its quarterly earnings data on Thursday, July 30th. The construction company reported $4.24 earnings per share for the quarter, topping the consensus estimate of $3.31 by $0.93. The business had revenue of $9.56 billion during the quarter, compared to the consensus estimate of $8.61 billion. Quanta Services had a net margin of 4.03% and a return on equity of 20.55%. The company’s revenue was up 41.1% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $2.48 EPS. Quanta Services has set its FY 2026 guidance at 16.450-16.950 EPS. Research analysts forecast that Quanta Services will post 15.35 EPS for the current fiscal year.

Quanta Services Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, October 9th. Investors of record on Thursday, October 1st will be given a $0.11 dividend. This represents a $0.44 annualized dividend and a yield of 0.1%. The ex-dividend date is Thursday, October 1st. Quanta Services’s payout ratio is 5.04%.

Quanta Services declared that its Board of Directors has initiated a stock buyback plan on Friday, May 22nd that authorizes the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization authorizes the construction company to buy up to 0.9% of its stock through open market purchases. Stock repurchase plans are generally a sign that the company’s leadership believes its stock is undervalued.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of PWR. Bartlett & CO. Wealth Management LLC lifted its holdings in shares of Quanta Services by 2.6% during the first quarter. Bartlett & CO. Wealth Management LLC now owns 513 shares of the construction company’s stock worth $282,000 after purchasing an additional 13 shares during the period. Pincus Capital Management LP lifted its stake in shares of Quanta Services by 0.4% in the 1st quarter. Pincus Capital Management LP now owns 3,690 shares of the construction company’s stock worth $2,026,000 after acquiring an additional 15 shares during the period. SouthState Bank Corp boosted its holdings in shares of Quanta Services by 23.5% in the first quarter. SouthState Bank Corp now owns 84 shares of the construction company’s stock valued at $46,000 after acquiring an additional 16 shares in the last quarter. Lewis Asset Management LLC increased its stake in shares of Quanta Services by 2.5% during the first quarter. Lewis Asset Management LLC now owns 692 shares of the construction company’s stock worth $380,000 after acquiring an additional 17 shares during the period. Finally, Stiles Financial Services Inc raised its holdings in Quanta Services by 1.8% during the first quarter. Stiles Financial Services Inc now owns 987 shares of the construction company’s stock worth $542,000 after purchasing an additional 17 shares in the last quarter. 90.49% of the stock is currently owned by hedge funds and other institutional investors.

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.