Quanta Services (NYSE:PWR) Downgraded to “Hold” Rating by Zacks Research

Quanta Services (NYSE:PWR) was downgraded by investment analysts at Zacks Research from a “strong-buy” rating to a “hold” rating in a research note issued to investors on Monday,Zacks.com reports.

PWR has been the subject of a number of other research reports. Wall Street Zen upgraded Quanta Services from a “hold” rating to a “buy” rating in a research note on Saturday, May 2nd. Robert W. Baird increased their price target on shares of Quanta Services from $606.00 to $777.00 and gave the company an “outperform” rating in a research report on Friday, May 1st. Jefferies Financial Group lifted their price objective on shares of Quanta Services from $654.00 to $857.00 and gave the stock a “buy” rating in a research report on Monday, May 4th. Mizuho boosted their target price on shares of Quanta Services from $580.00 to $693.00 and gave the company a “neutral” rating in a research note on Friday, May 1st. Finally, Weiss Ratings raised shares of Quanta Services from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Wednesday, May 20th. Nineteen research analysts have rated the stock with a Buy rating and seven have given a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $755.18.

Quanta Services Price Performance

PWR opened at $656.48 on Monday. The firm’s fifty day moving average price is $712.92 and its two-hundred day moving average price is $587.03. The company has a market capitalization of $98.51 billion, a price-to-earnings ratio of 90.05, a P/E/G ratio of 2.65 and a beta of 1.21. The company has a debt-to-equity ratio of 0.57, a current ratio of 1.14 and a quick ratio of 1.09. 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 results on Thursday, April 30th. The construction company reported $2.68 earnings per share for the quarter, beating analysts’ consensus estimates 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 for the quarter, compared to analyst estimates of $7 billion. During the same period last year, the firm earned $1.78 earnings per share. The firm’s 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 12.81 earnings per share for the current fiscal year.

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

Insiders Place Their Bets

In related news, CEO Earl C. Jr. Austin sold 25,992 shares of the business’s stock in a transaction that occurred on Tuesday, May 5th. The shares were sold at an average price of $770.71, for a total transaction of $20,032,294.32. Following the completion of the transaction, the chief executive officer owned 16,508 shares of the company’s stock, valued at approximately $12,722,880.68. The trade was a 61.16% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CAO Paul Nobel sold 4,000 shares of the stock in a transaction that occurred 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 in the company, valued at $6,116,398.40. This represents a 33.11% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last quarter, insiders have sold 159,992 shares of company stock worth $123,244,714. 0.60% of the stock is currently owned by corporate insiders.

Institutional Trading of Quanta Services

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Cedar Mountain Advisors LLC raised its holdings in shares of Quanta Services by 321.4% during the 4th 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 purchased a new stake in Quanta Services in the second quarter worth approximately $26,000. Boreal Capital Management LLC bought a new position in Quanta Services during the first quarter valued at approximately $27,000. Flagship Harbor Advisors LLC purchased a new position in shares of Quanta Services during the fourth quarter worth approximately $28,000. Finally, MV Capital Management Inc. bought a new stake in shares of Quanta Services in the 4th quarter worth approximately $30,000. Hedge funds and other institutional investors own 90.49% of the company’s stock.

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.