Quanta Services’ (PWR) Neutral Rating Reiterated at JPMorgan Chase & Co.

JPMorgan Chase & Co. reiterated their neutral rating on shares of Quanta Services (NYSE:PWR) in a report released on Tuesday morning,Benzinga reports. The brokerage currently has a $714.00 target price on the construction company’s stock.

Several other equities research analysts have also recently weighed in on the company. Evercore increased their price objective on Quanta Services from $635.00 to $800.00 and gave the stock an “outperform” rating in a report on Friday, May 1st. BMO Capital Markets upped their target price on Quanta Services from $650.00 to $800.00 and gave the company an “outperform” rating in a report on Friday, May 1st. Zacks Research lowered Quanta Services from a “strong-buy” rating to a “hold” rating in a research note on Monday, July 6th. Oppenheimer raised shares of Quanta Services from a “market perform” rating to an “outperform” rating and set a $800.00 price objective on the stock in a research report on Thursday, May 28th. Finally, Stifel Nicolaus set a $784.00 price objective on shares of Quanta Services in a report on Friday, May 1st. Seventeen research analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $745.55.

Quanta Services Trading Up 1.6%

NYSE:PWR opened at $653.25 on Tuesday. The firm has a market capitalization of $98.03 billion, a P/E ratio of 89.61, a P/E/G ratio of 2.53 and a beta of 1.21. The company has a quick ratio of 1.09, a current ratio of 1.14 and a debt-to-equity ratio of 0.57. The company has a fifty day moving average of $692.83 and a 200 day moving average of $605.45. Quanta Services has a 52 week low of $363.01 and a 52 week high of $788.75.

Quanta Services (NYSE:PWR) last announced its quarterly earnings results on Thursday, April 30th. The construction company reported $2.68 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.04 by $0.64. The business had revenue of $7.87 billion for the quarter, compared to analyst estimates of $7 billion. Quanta Services had a net margin of 3.67% and a return on equity of 18.64%. The company’s revenue was up 26.3% on a year-over-year basis. During the same quarter last year, the firm earned $1.78 EPS. Quanta Services has set its FY 2026 guidance at 13.550-14.250 EPS. On average, research analysts predict that Quanta Services will post 12.8 earnings per share for the current year.

Quanta Services declared that its Board of Directors has initiated a stock 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 purchase up to 0.9% of its shares through open market purchases. Shares repurchase programs are typically a sign that the company’s board believes its shares are undervalued.

Quanta Services Announces Dividend

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

Insider Activity at Quanta Services

In related news, CAO Paul Nobel sold 4,000 shares of the company’s stock in a transaction that occurred on Monday, May 4th. The stock was sold at an average price of $756.98, for a total value of $3,027,920.00. Following the transaction, the chief accounting officer directly owned 8,080 shares of the company’s stock, valued at approximately $6,116,398.40. This represents a 33.11% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CEO Earl C. Jr. Austin sold 25,992 shares of the business’s stock in a transaction on Tuesday, May 5th. The stock was sold at an average price of $770.71, for a total value 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 $12,722,880.68. This represents a 61.16% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 159,992 shares of company stock valued at $123,244,714 in the last three months. 0.60% of the stock is owned by insiders.

Institutional Investors Weigh In On Quanta Services

A number of hedge funds have recently added to or reduced their stakes in the stock. Boreal Capital Management LLC purchased a new stake in Quanta Services during the first quarter valued at $27,000. Cedar Mountain Advisors LLC boosted its position in Quanta Services by 321.4% in the fourth quarter. Cedar Mountain Advisors LLC now owns 59 shares of the construction company’s stock worth $25,000 after purchasing an additional 45 shares during the last quarter. Flagship Harbor Advisors LLC bought a new stake in shares of Quanta Services during the 4th quarter valued at about $28,000. Darwin Wealth Management LLC bought a new stake in shares of Quanta Services during the 2nd quarter valued at about $26,000. Finally, MV Capital Management Inc. purchased a new stake in shares of Quanta Services during the 4th quarter valued at about $30,000. 90.49% of the stock is currently owned by hedge funds and other institutional investors.

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.