Truist Financial Cuts Quanta Services (NYSE:PWR) Price Target to $945.00

Quanta Services (NYSE:PWR) had its target price lowered by Truist Financial from $976.00 to $945.00 in a report released on Monday,Benzinga reports. The firm currently has a buy rating on the construction company’s stock.

Other equities analysts also recently issued research reports about the stock. Guggenheim raised shares of Quanta Services from a “neutral” rating to a “buy” rating and set a $800.00 price target for the company in a report on Friday, July 31st. JPMorgan Chase & Co. reaffirmed a “neutral” rating and issued a $714.00 price objective on shares of Quanta Services in a report on Tuesday, July 21st. Cantor Fitzgerald reiterated an “overweight” rating and issued a $862.00 price objective on shares of Quanta Services in a research report on Monday. Jefferies Financial Group reissued a “buy” rating and set a $833.00 target price on shares of Quanta Services in a research note on Thursday, August 13th. Finally, Citigroup upped their target price on shares of Quanta Services from $837.00 to $871.00 and gave the stock a “buy” rating in a research report on Friday, July 31st. Twenty-two equities research analysts have rated the stock with a Buy rating, eight have given a Hold rating and three have given a Sell rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $763.04.

Quanta Services Stock Performance

Shares of PWR stock opened at $701.09 on Monday. The company has a market cap of $105.40 billion, a P/E ratio of 80.31, a PEG ratio of 2.13 and a beta of 1.27. The business has a 50 day moving average of $649.88 and a two-hundred day moving average of $657.42. Quanta Services has a 52 week low of $404.51 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.

Quanta Services (NYSE:PWR) last announced its quarterly earnings results on Thursday, July 30th. The construction company reported $4.24 earnings per share for the quarter, topping analysts’ consensus estimates of $3.31 by $0.93. Quanta Services had a return on equity of 20.55% and a net margin of 4.03%.The business had revenue of $9.56 billion for the quarter, compared to analysts’ expectations of $8.61 billion. During the same period in the prior year, the firm earned $2.48 EPS. The business’s quarterly revenue was up 41.1% on a year-over-year basis. Quanta Services has set its FY 2026 guidance at 16.450-16.950 EPS. As a group, analysts anticipate that Quanta Services will post 15.37 EPS for the current year.

Quanta Services Announces Dividend

The business also recently disclosed 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 is Thursday, October 1st. Quanta Services’s payout ratio is currently 5.04%.

Hedge Funds Weigh In On Quanta Services

Institutional investors and hedge funds have recently bought and sold shares of the stock. Cetera Investment Advisers boosted its stake in shares of Quanta Services by 5.8% during the 1st quarter. Cetera Investment Advisers now owns 74,134 shares of the construction company’s stock valued at $40,701,000 after buying an additional 4,087 shares during the period. Vise Technologies Inc. increased its stake in shares of Quanta Services by 20.3% in the fourth quarter. Vise Technologies Inc. now owns 5,128 shares of the construction company’s stock worth $2,164,000 after acquiring an additional 866 shares during the last quarter. State Street Corp raised its holdings in shares of Quanta Services by 4.7% during the second quarter. State Street Corp now owns 6,581,807 shares of the construction company’s stock worth $4,739,164,000 after acquiring an additional 296,893 shares in the last quarter. Sands Capital Management LLC acquired a new stake in Quanta Services during the fourth quarter valued at $243,485,000. Finally, Aptus Capital Advisors LLC boosted its position in Quanta Services by 9.5% during the fourth quarter. Aptus Capital Advisors LLC now owns 60,643 shares of the construction company’s stock valued at $25,595,000 after purchasing an additional 5,245 shares during the last quarter. Institutional investors own 90.49% of the company’s stock.

Quanta Services Company Profile

Quanta Services, Inc is an infrastructure solutions provider headquartered in Houston, Texas. The company delivers design, engineering, procurement, construction, repair and maintenance services for critical infrastructure across the electric power, energy and communications industries.

Quanta’s electric power operations support transmission and distribution networks, substations, renewable energy projects and related grid infrastructure. Its energy services include work on natural gas and other pipeline systems, utility infrastructure, industrial facilities and energy transition projects.