Quanta Services (NYSE:PWR) Cut to Hold at Wall Street Zen

Wall Street Zen lowered shares of Quanta Services (NYSE:PWR) from a buy rating to a hold rating in a report issued on Saturday.

Several other analysts also recently weighed in on PWR. B. Riley Financial reiterated a “neutral” rating on shares of Quanta Services in a research report on Friday, May 1st. Jefferies Financial Group decreased their target price on shares of Quanta Services from $857.00 to $784.00 and set a “buy” rating on the stock in a research note on Friday, July 10th. Robert W. Baird upped their price target on shares of Quanta Services from $606.00 to $777.00 and gave the company an “outperform” rating in a report on Friday, May 1st. BNP Paribas Exane assumed coverage on shares of Quanta Services in a research report on Tuesday, April 14th. They set a “neutral” rating for the company. Finally, Citigroup raised their price target on shares of Quanta Services from $640.00 to $733.00 and gave the stock a “buy” rating in a report on Monday, April 27th. Seventeen equities research analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $745.55.

Quanta Services Stock Down 0.9%

Shares of NYSE:PWR opened at $619.98 on Friday. The stock has a market capitalization of $93.03 billion, a P/E ratio of 85.05, a price-to-earnings-growth ratio of 2.46 and a beta of 1.21. The stock’s 50-day moving average price is $687.90 and its 200-day moving average price is $608.07. The company has a current ratio of 1.14, a quick ratio of 1.09 and a debt-to-equity ratio of 0.57. Quanta Services has a 12-month low of $363.01 and a 12-month high of $788.75.

Quanta Services (NYSE:PWR) last released its 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 return on equity of 18.64% and a net margin of 3.67%.The company had revenue of $7.87 billion during the quarter, compared to analyst estimates of $7 billion. During the same quarter in the previous year, the company posted $1.78 EPS. Quanta Services’s revenue for the quarter was up 26.3% on a year-over-year basis. Quanta Services has set its FY 2026 guidance at 13.550-14.250 EPS. On average, equities analysts anticipate that Quanta Services will post 12.8 earnings per share for the current year.

Quanta Services Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, July 13th. Shareholders of record on Wednesday, July 1st were issued a $0.11 dividend. The ex-dividend date was Wednesday, July 1st. This represents a $0.44 dividend on an annualized basis and a yield of 0.1%. Quanta Services’s dividend payout ratio is 6.04%.

Quanta Services declared that its board has initiated a share repurchase program on Friday, May 22nd that permits the company to repurchase $1.00 billion in shares. This repurchase authorization permits the construction company to reacquire up to 0.9% of its stock through open market purchases. Stock repurchase programs are typically an indication that the company’s management believes its shares are undervalued.

Insider Buying and Selling at Quanta Services

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

Hedge Funds Weigh In On Quanta Services

Institutional investors and hedge funds have recently made changes to their positions in the business. State Street Corp boosted its position in shares of Quanta Services by 2.1% in the 4th quarter. State Street Corp now owns 6,206,761 shares of the construction company’s stock worth $2,619,626,000 after purchasing an additional 126,014 shares in the last quarter. Geode Capital Management LLC increased its position in Quanta Services by 2.8% during the 4th quarter. Geode Capital Management LLC now owns 4,086,544 shares of the construction company’s stock valued at $1,718,371,000 after buying an additional 110,360 shares in the last quarter. Bank of America Corp DE raised its stake in Quanta Services by 5.4% during the first quarter. Bank of America Corp DE now owns 3,444,711 shares of the construction company’s stock valued at $1,891,215,000 after buying an additional 175,184 shares during the last quarter. Victory Capital Management Inc. boosted its holdings in Quanta Services by 35.2% in the fourth quarter. Victory Capital Management Inc. now owns 2,915,440 shares of the construction company’s stock worth $1,230,493,000 after acquiring an additional 758,862 shares in the last quarter. Finally, Norges Bank bought a new stake in Quanta Services in the fourth quarter worth $817,285,000. 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.