Truist Financial Has Lowered Expectations for Quanta Services (NYSE:PWR) Stock Price

Quanta Services (NYSE:PWR - Get Free Report) had its price objective lowered by stock analysts at Truist Financial from $976.00 to $945.00 in a research report issued on Monday, Benzinga reports. The firm presently has a "buy" rating on the construction company's stock. Truist Financial's target price would indicate a potential upside of 37.11% from the stock's current price.

PWR has been the subject of several other reports. Morgan Stanley cut shares of Quanta Services to an "underweight" rating in a report on Monday, August 3rd. TD Cowen boosted their target price 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. JPMorgan Chase & Co. reissued a "neutral" rating and set a $714.00 price target on shares of Quanta Services in a report on Tuesday, July 21st. Citigroup raised their price target on Quanta Services from $837.00 to $871.00 and gave the stock a "buy" rating in a research note on Friday, July 31st. Finally, Cantor Fitzgerald reiterated an "overweight" rating and set a $862.00 price objective on shares of Quanta Services in a research report on Monday. One research analyst has rated the stock with a Strong Buy rating, twenty-two have issued a Buy rating, seven have given a Hold rating and three have given a Sell rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $765.32.

Quanta Services Stock Up 1.9%

PWR stock traded up $12.69 during midday trading on Monday, hitting $689.25. The company's stock had a trading volume of 284,879 shares, compared to its average volume of 1,126,578. The firm's 50-day moving average is $643.17 and its 200-day moving average is $654.72. The company has a current ratio of 1.10, a quick ratio of 1.05 and a debt-to-equity ratio of 0.56. Quanta Services has a 12 month low of $404.51 and a 12 month high of $788.75. The company has a market cap of $103.62 billion, a PE ratio of 78.87, a P/E/G ratio of 2.00 and a beta of 1.27.

Quanta Services (NYSE:PWR - Get Free Report) last posted its quarterly earnings results on Thursday, July 30th. The construction company reported $4.24 earnings per share for the quarter, topping the consensus estimate 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 company's revenue was up 41.1% on a year-over-year basis. During the same quarter in the previous year, the business earned $2.48 earnings per share. Quanta Services has set its FY 2026 guidance at 16.450-16.950 EPS. On average, equities research analysts forecast that Quanta Services will post 15.37 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Quanta Services

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Cetera Investment Advisers boosted its stake in 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 buying an additional 4,087 shares during the last quarter. Vise Technologies Inc. increased its stake in Quanta Services by 20.3% in the 4th 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. Sands Capital Management LLC purchased a new stake in shares of Quanta Services during the 4th quarter worth approximately $243,485,000. State Street Corp raised its holdings in shares of Quanta Services by 4.7% during the 2nd 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. Finally, Aptus Capital Advisors LLC boosted its position in shares of Quanta Services by 9.5% during the 4th quarter. Aptus Capital Advisors LLC now owns 60,643 shares of the construction company's stock valued at $25,595,000 after acquiring 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.

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