Quanta Services (NYSE:PWR) Stock Price Down 4% – Here’s What Happened

Quanta Services, Inc. (NYSE:PWR)’s stock price fell 4% on Tuesday. The stock traded as low as $587.23 and last traded at $593.9690. Approximately 668,935 shares changed hands during trading, a decline of 40% from the average daily volume of 1,121,175 shares. The stock had previously closed at $618.41.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on PWR. Mizuho set a $684.00 price target on shares of Quanta Services in a research report on Wednesday, October 7th. UBS Group reissued a “buy” rating on shares of Quanta Services in a research note on Monday, August 17th. Zacks Research downgraded shares of Quanta Services from a “strong-buy” rating to a “hold” rating in a research report on Monday, October 5th. Guggenheim upgraded shares of Quanta Services from a “neutral” rating to a “buy” rating and set a $800.00 target price on the stock in a research note on Friday, July 31st. Finally, Wall Street Zen downgraded shares of Quanta Services from a “buy” rating to a “hold” rating in a report on Saturday, September 12th. Twenty-three equities research analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and three have given a Sell rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $763.04.

Quanta Services Price Performance

The firm has a 50 day moving average of $645.62 and a 200-day moving average of $664.09. The company has a market cap of $90.20 billion, a P/E ratio of 68.72, a P/E/G ratio of 1.76 and a beta of 1.27. 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 (NYSE:PWR) last posted its quarterly earnings results on Thursday, July 30th. The construction company reported $4.24 EPS 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 company had revenue of $9.56 billion for the quarter, compared to analysts’ expectations of $8.61 billion. During the same period in the previous year, the firm earned $2.48 EPS. The firm’s revenue was up 41.1% compared to the same quarter last year. Quanta Services has set its FY 2026 guidance at 16.450-16.950 EPS. On average, equities research analysts predict that Quanta Services, Inc. will post 15.37 EPS for the current year.

Quanta Services Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, October 9th. Stockholders of record on Thursday, October 1st were issued a $0.11 dividend. This represents a $0.44 annualized dividend and a dividend yield of 0.1%. The ex-dividend date of this dividend was Thursday, October 1st. Quanta Services’s payout ratio is 5.04%.

Hedge Funds Weigh In On Quanta Services

A number of hedge funds and other institutional investors have recently modified their holdings of PWR. NBT Bank N.A. bought a new stake in Quanta Services in the 3rd quarter valued at $2,934,000. Marion Wealth Management lifted its stake in Quanta Services by 1.9% in the 3rd quarter. Marion Wealth Management now owns 4,396 shares of the construction company’s stock worth $2,825,000 after purchasing an additional 80 shares in the last quarter. Aire Advisors LLC boosted its holdings in shares of Quanta Services by 67.7% during the 3rd quarter. Aire Advisors LLC now owns 976 shares of the construction company’s stock valued at $627,000 after purchasing an additional 394 shares during the last quarter. Cantor Fitzgerald Investment Advisors L.P. boosted its holdings in shares of Quanta Services by 90.3% during the 3rd quarter. Cantor Fitzgerald Investment Advisors L.P. now owns 8,040 shares of the construction company’s stock valued at $5,166,000 after purchasing an additional 3,815 shares during the last quarter. Finally, Albion Financial Group UT grew its position in shares of Quanta Services by 2.0% during the third quarter. Albion Financial Group UT now owns 26,834 shares of the construction company’s stock valued at $17,241,000 after purchasing an additional 517 shares in the last quarter. Institutional investors own 90.49% of the company’s stock.

About Quanta Services

Quanta Services, Inc is an infrastructure solutions provider headquartered in Houston, Texas. The company designs, installs, repairs, maintains and upgrades essential infrastructure for the electric power, communications, pipeline, industrial and energy industries.

Its services include electric transmission and distribution construction, substation and renewable-energy infrastructure, storm restoration, fiber-optic and wireless communications networks, natural gas and pipeline construction, and related engineering and maintenance work.