Piper Sandler Upgrades Quanta Services (NYSE:PWR) to “Strong-Buy”

Quanta Services (NYSE:PWR) was upgraded by equities research analysts at Piper Sandler to a “strong-buy” rating in a research note issued to investors on Tuesday, Zacks reports.

Other research analysts have also issued reports about the company. Raymond James Financial started coverage on Quanta Services in a research report on Friday, July 31st. They set an “outperform” rating on the stock. TD Cowen lifted their price objective 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. Truist Financial reissued a “buy” rating and issued a $976.00 price objective (up from $940.00) on shares of Quanta Services in a report on Monday, August 3rd. Zacks Research upgraded shares of Quanta Services from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, August 5th. Finally, Deutsche Bank Aktiengesellschaft downgraded Quanta Services to a “sell” rating in a research note on Friday, July 31st. Two equities research analysts have rated the stock with a Strong Buy rating, twenty have issued a Buy rating, eight have given a Hold rating and three have given a Sell rating to the company’s stock. According to data from MarketBeat, Quanta Services has a consensus rating of “Moderate Buy” and a consensus target price of $767.72.

Quanta Services Trading Down 1.8%

PWR opened at $627.62 on Tuesday. Quanta Services has a 52 week low of $373.39 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. The stock’s fifty day moving average is $647.11 and its two-hundred day moving average is $645.49. The company has a market capitalization of $94.36 billion, a P/E ratio of 71.89, a PEG ratio of 2.09 and a beta of 1.20.

Quanta Services (NYSE:PWR) last issued its earnings results on Thursday, July 30th. The construction company reported $4.24 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.31 by $0.93. The company had revenue of $9.56 billion for the quarter, compared to analysts’ expectations of $8.61 billion. Quanta Services had a net margin of 4.03% and a return on equity of 20.55%. The firm’s quarterly revenue was up 41.1% on a year-over-year basis. During the same period in the prior year, the business earned $2.48 EPS. Quanta Services has set its FY 2026 guidance at 16.450-16.950 EPS. Analysts forecast that Quanta Services will post 15.35 earnings per share for the current year.

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

Hedge Funds Weigh In On Quanta Services

A number of large investors have recently bought and sold shares of the company. Cetera Investment Advisers raised its holdings in shares of Quanta Services by 5.8% during the first quarter. Cetera Investment Advisers now owns 74,134 shares of the construction company’s stock valued at $40,701,000 after acquiring an additional 4,087 shares during the last quarter. Evoke Wealth LLC purchased a new stake in shares of Quanta Services in the fourth quarter valued at approximately $368,000. North Dakota State Investment Board acquired a new stake in shares of Quanta Services in the 4th quarter worth $2,131,000. Brighton Jones LLC acquired a new stake in Quanta Services during the fourth quarter worth about $298,000. Finally, Leonteq Securities AG acquired a new position in Quanta Services in the fourth quarter valued at approximately $1,040,000. Hedge funds and other institutional investors 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.