Quanta Services (NYSE:PWR) Rating Lowered to "Hold" at Wall Street Zen

Key Points

• Wall Street Zen has downgraded Quanta Services from a "buy" to a "hold" rating, reflecting changing analyst sentiment towards the stock.
• Quanta Services reported strong quarterly earnings, beating consensus estimates with an EPS of $2.48 and a revenue of $6.77 billion, demonstrating a 21.1% increase year-over-year.
• Despite the downgrade, the company maintains a consensus target price of $392.45 with a majority of analysts still rating it a "buy."

Quanta Services (NYSE:PWR - Get Free Report) was downgraded by equities researchers at Wall Street Zen from a "buy" rating to a "hold" rating in a report issued on Saturday.

Several other research analysts have also recently issued reports on the company. UBS Group upped their price objective on Quanta Services from $413.00 to $474.00 and gave the stock a "buy" rating in a research report on Friday, July 25th. Seaport Res Ptn raised Quanta Services to a "hold" rating in a report on Thursday, July 10th. B. Riley increased their price target on shares of Quanta Services from $300.00 to $355.00 and gave the company a "neutral" rating in a research note on Friday, May 2nd. Stifel Nicolaus boosted their price objective on shares of Quanta Services from $411.00 to $432.00 and gave the stock a "buy" rating in a research report on Monday, August 4th. Finally, Evercore ISI upped their target price on shares of Quanta Services from $360.00 to $410.00 and gave the company an "outperform" rating in a report on Friday, August 8th. Thirteen investment analysts have rated the stock with a Buy rating and twelve have given a Hold rating to the stock. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $397.18.

Quanta Services Stock Down 0.5%

NYSE PWR traded down $1.89 on Friday, hitting $372.52. 123,675 shares of the stock were exchanged, compared to its average volume of 1,371,226. Quanta Services has a fifty-two week low of $227.08 and a fifty-two week high of $424.94. The company has a 50-day moving average price of $387.65 and a 200-day moving average price of $329.39. The company has a market cap of $55.51 billion, a PE ratio of 57.67, a PEG ratio of 2.24 and a beta of 1.01. The company has a quick ratio of 1.32, a current ratio of 1.37 and a debt-to-equity ratio of 0.59.

Quanta Services (NYSE:PWR - Get Free Report) last released its quarterly earnings data on Thursday, July 31st. The construction company reported $2.48 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.44 by $0.04. The business had revenue of $6.77 billion during the quarter, compared to analysts' expectations of $6.55 billion. Quanta Services had a net margin of 3.73% and a return on equity of 18.41%. The company's revenue for the quarter was up 21.1% on a year-over-year basis. During the same period in the previous year, the company earned $1.90 EPS. Quanta Services has set its FY 2025 guidance at 10.280-10.880 EPS. Sell-side analysts anticipate that Quanta Services will post 9.34 EPS for the current fiscal year.

Institutional Trading of Quanta Services

Several institutional investors and hedge funds have recently bought and sold shares of the business. Banque Transatlantique SA acquired a new position in Quanta Services in the fourth quarter valued at $25,000. Cullen Frost Bankers Inc. acquired a new stake in shares of Quanta Services during the first quarter worth about $25,000. Copia Wealth Management grew its holdings in shares of Quanta Services by 509.1% during the second quarter. Copia Wealth Management now owns 67 shares of the construction company's stock worth $25,000 after buying an additional 56 shares during the last quarter. Quarry LP acquired a new position in Quanta Services in the 4th quarter valued at about $26,000. Finally, SOA Wealth Advisors LLC. raised its stake in Quanta Services by 159.3% during the 2nd quarter. SOA Wealth Advisors LLC. now owns 70 shares of the construction company's stock valued at $26,000 after acquiring an additional 43 shares during the last quarter. Hedge funds and other institutional investors own 90.49% of the company's stock.

About Quanta Services

Quanta Services, Inc provides infrastructure solutions for the electric and gas utility, renewable energy, communications, and pipeline and energy industries in the United States, Canada, Australia, and internationally. The company's Electric Power Infrastructure Solutions segment engages in the design, procurement, construction, upgrade, repair, and maintenance of electric power transmission and distribution infrastructure and substation facilities; installation, maintenance, and upgrade of electric power infrastructure projects; installation of smart grid technologies on electric power networks; and design, installation, maintenance, and repair of commercial and industrial wirings.