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

Wall Street Zen downgraded shares of Quanta Services (NYSE:PWR) from a buy rating to a hold rating in a report released on Saturday morning,Wall Street Zen reports.

A number of other research firms have also recently issued reports on PWR. JPMorgan Chase & Co. reaffirmed a “neutral” rating and issued a $714.00 price target on shares of Quanta Services in a report on Tuesday, July 21st. Guggenheim upgraded shares of Quanta Services from a “neutral” rating to a “buy” rating and set a $800.00 price objective for the company in a research report on Friday, July 31st. Sanford C. Bernstein reaffirmed a “market perform” rating and issued a $748.00 target price on shares of Quanta Services in a research note on Friday, July 31st. TD Cowen increased their price target on shares of Quanta Services from $775.00 to $785.00 and gave the company a “buy” rating in a research note on Monday, August 3rd. Finally, Piper Sandler began coverage on shares of Quanta Services in a report on Tuesday, September 8th. They issued an “overweight” rating and a $731.00 price target for the company. Two equities research analysts have rated the stock with a Strong Buy rating, twenty-one have given a Buy rating, seven have issued a Hold rating and three have issued a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $767.72.

Quanta Services Stock Down 4.4%

Shares of PWR opened at $621.92 on Friday. The company has a market capitalization of $93.50 billion, a P/E ratio of 71.24, a PEG ratio of 2.13 and a beta of 1.20. Quanta Services has a one year low of $373.39 and a one year high of $788.75. The business’s 50 day simple moving average is $644.74 and its 200-day simple moving average is $647.04. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.10 and a quick ratio of 1.05.

Quanta Services (NYSE:PWR) last released its quarterly earnings results 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 firm had revenue of $9.56 billion during the quarter, compared to analysts’ expectations of $8.61 billion. Quanta Services had a return on equity of 20.55% and a net margin of 4.03%.The business’s revenue was up 41.1% on a year-over-year basis. During the same period last year, the firm posted $2.48 EPS. Quanta Services has set its FY 2026 guidance at 16.450-16.950 EPS. As a group, sell-side analysts predict that Quanta Services will post 15.35 EPS for the current fiscal year.

Quanta Services Announces Dividend

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

Quanta Services announced that its board has authorized a share buyback program on Friday, May 22nd that allows the company to buyback $1.00 billion in shares. This buyback authorization allows the construction company to purchase up to 0.9% of its shares through open market purchases. Shares buyback programs are usually an indication that the company’s board of directors believes its stock is undervalued.

Institutional Trading of Quanta Services

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

Quanta Services Company Profile

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.