Quanta Services, Inc.’s Stock Price Soars to $269.50, Marking a Significant 5.14% Uptick

Quanta Services, Inc. (PWR)

269.50 USD +13.17 (+5.14%) Volume: 1.38M

Quanta Services, Inc.’s stock price soared to 269.50 USD, marking an impressive trading session gain of +5.14% on a volume of 1.38M shares, reflecting a robust YTD performance with a significant increase of +24.88%, highlighting the strong market confidence in PWR’s growth potential.

Latest developments on Quanta Services, Inc.

Quanta Services, Inc. (NYSE:PWR) has been making significant strides in the stock market, particularly following its strong start in 2024. The company’s stock received a buy rating reaffirmation from Truist Financial and an upgrade from Baird, which praised Quanta’s unmatched competence. The company has been meeting Q3 earnings estimates and even exceeded Q1 earnings and revenue estimates, which has attracted new investments from entities like First Trust Direct Indexing L.P., Retirement Systems of Alabama, and International Assets Investment Management LLC. These key events have led to Quanta Services setting a new 12-month high in stock price, solidifying its position as a top stock for long-term investment.

Quanta Services, Inc. on Smartkarma

Analysts at Baptista Research have been closely monitoring Quanta Services, a specialized contracting services provider. In their report titled “Quanta Services: How Long Will The Renewable Growth Story Continue? – Financial Forecasts,” they highlight the company’s robust performance in 2023, with double-digit growth in revenues and earnings. Quanta Services‘ total year-end backlog of $30.1 billion reflects strong client relationships and momentum for 2024. The company has achieved record revenue for 6 out of the last 7 years, along with consecutive years of record-adjusted EBITDA and earnings per share, showcasing its operational and financial strength.

Furthermore, Baptista Research‘s analysis in “Quanta Services Inc.: Power Grid Expansion & Renewable Energy Projects Providing A Strategic Edge? – Major Drivers” emphasizes Quanta Services‘ success in the previous quarter, driven by strong revenue growth and financial metrics. The Electric Power Infrastructure Solutions and Renewable Energy Infrastructure Solutions segments led the revenue and profit surge, indicating sustained investment in grid modernization and renewable energy projects. The Renewable Infrastructure Solutions segment saw a significant revenue increase due to heightened construction activities in solar, wind, and battery storage projects, positioning Quanta Services strategically in the market.

A look at Quanta Services, Inc. Smart Scores

Smart Score is a compound score for the Company indicating its overall outlook. It is derived by taking an equally weighted average of underlying Factor scores computed by Smartkarma

Quanta Services, a company that provides specialized contracting services to various industries, has received mixed scores in terms of its long-term outlook. While it scored a 3 in both Growth and Resilience, indicating moderate positive prospects in these areas, it only received a 2 in both Value and Dividend, suggesting weaker performance in terms of these factors. However, the company scored a solid 4 in Momentum, indicating strong positive momentum in its operations. Overall, Quanta Services seems to have a decent outlook for the future, with room for improvement in certain areas.

Quanta Services, Inc. operates projects across North America and offers a range of services to electric utilities, telecommunication companies, and governmental entities. With a focus on providing specialty electric power and communication services to industrial and commercial customers, the company plays a crucial role in supporting infrastructure development. Despite some mixed scores in the Smartkarma Smart Scores, Quanta Services‘ overall outlook appears positive, with a strong momentum score indicating potential for growth and success in the long run.

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