Quanta Services (NYSE:PWR) Rating Lowered to “Hold” at Wall Street Zen

Quanta Services (NYSE:PWR) was downgraded by investment analysts at Wall Street Zen from a “buy” rating to a “hold” rating in a research note issued on Saturday.

Several other equities research analysts have also recently commented on PWR. Mizuho set a $645.00 price target on shares of Quanta Services in a research report on Monday. Zacks Research cut Quanta Services from a “strong-buy” rating to a “hold” rating in a research report on Monday, July 6th. UBS Group boosted their price target on Quanta Services from $646.00 to $900.00 and gave the stock a “buy” rating in a research report on Monday, May 4th. TD Cowen raised their target price on shares of Quanta Services from $570.00 to $775.00 and gave the company a “buy” rating in a research note on Monday, May 4th. Finally, B. Riley Financial reaffirmed a “neutral” rating on shares of Quanta Services in a research report on Friday, May 1st. Seventeen investment analysts have rated the stock with a Buy rating and nine have given a Hold rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $745.55.

Quanta Services Trading Down 4.2%

NYSE PWR opened at $626.03 on Friday. Quanta Services has a 52 week low of $363.01 and a 52 week high of $788.75. The company has a debt-to-equity ratio of 0.57, a quick ratio of 1.09 and a current ratio of 1.14. The stock’s 50 day moving average price is $689.96 and its two-hundred day moving average price is $605.59. The stock has a market capitalization of $93.94 billion, a price-to-earnings ratio of 85.88, a PEG ratio of 2.57 and a beta of 1.21.

Quanta Services (NYSE:PWR) last issued its quarterly earnings results on Thursday, April 30th. The construction company reported $2.68 earnings per share for the quarter, topping the consensus estimate of $2.04 by $0.64. Quanta Services had a net margin of 3.67% and a return on equity of 18.64%. The company had revenue of $7.87 billion during the quarter, compared to analysts’ expectations of $7 billion. During the same period last year, the business earned $1.78 EPS. The business’s quarterly revenue was up 26.3% on a year-over-year basis. Quanta Services has set its FY 2026 guidance at 13.550-14.250 EPS. As a group, analysts anticipate that Quanta Services will post 12.8 earnings per share for the current fiscal year.

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

Insider Buying and Selling at Quanta Services

In other news, CAO Paul Nobel sold 4,000 shares of Quanta Services stock in a transaction on 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 sale, the chief accounting officer owned 8,080 shares of the company’s stock, valued at approximately $6,116,398.40. This trade represents a 33.11% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Earl C. Jr. Austin sold 130,000 shares of the business’s stock in a transaction dated Tuesday, May 5th. The shares were sold at an average price of $770.65, for a total transaction of $100,184,500.00. Following the completion of the sale, the chief executive officer directly owned 556,911 shares of the company’s stock, valued at approximately $429,183,462.15. The trade was a 18.93% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 159,992 shares of company stock worth $123,244,714 in the last quarter. Company insiders own 0.60% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in PWR. Cedar Mountain Advisors LLC raised its position in shares of Quanta Services by 321.4% in the fourth quarter. Cedar Mountain Advisors LLC now owns 59 shares of the construction company’s stock valued at $25,000 after buying an additional 45 shares in the last quarter. Darwin Wealth Management LLC bought a new position in Quanta Services during the 2nd quarter worth $26,000. Boreal Capital Management LLC acquired a new position in Quanta Services in the 1st quarter valued at $27,000. Flagship Harbor Advisors LLC acquired a new position in Quanta Services in the 4th quarter valued at $28,000. Finally, MV Capital Management Inc. bought a new stake in shares of Quanta Services during the 4th quarter valued at $30,000. 90.49% of the stock is owned by institutional investors.

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.