Quanta Services, Inc.’s Stock Price Takes a Dip to $267.28, Marking a -3.13% Decrease

Quanta Services, Inc. (PWR)

267.28 USD -8.65 (-3.13%) Volume: 0.81M

Quanta Services, Inc.’s stock price currently stands at 267.28 USD, experiencing a dip of 3.13% in the latest trading session with a trading volume of 0.81M. Despite the recent downturn, the stock maintains a robust growth trend with a year-to-date increase of 23.86%, highlighting its resilience and potential for investors.

Latest developments on Quanta Services, Inc.

Quanta Services Inc. (NYSE:PWR) saw its stock outperform competitors today, despite some losses throughout the trading day. First Trust Advisors LP sold a significant number of shares, while Capital World Investors acquired more shares. Despite fluctuations, analysts believe that Quanta Services is a strong growth stock, with potential for further gains in the future.

Quanta Services, Inc. on Smartkarma

Analysts at Baptista Research on Smartkarma have published two bullish research reports on Quanta Services. The first report titled “Quanta Services: Will The Increased Demand For Data Centers Continue To Catalyze Top-Line Growth? – Major Drivers” highlights Quanta’s strong performance in Q1 2024 with double-digit growth in revenue, adjusted EBITDA, and earnings per share. The report emphasizes the company’s total backlog of $29.9 billion, driven by the rise in power demand from new technologies and energy transition.

The second report, “Quanta Services: How Long Will The Renewable Growth Story Continue? – Financial Forecasts”, focuses on Quanta’s fourth-quarter and full-year results for 2023, showing double-digit revenue and earnings growth. The report mentions a total year-end backlog of $30.1 billion, record revenue in 6 out of the last 7 years, and consistent growth in adjusted EBITDA and earnings per share. Analysts see Quanta Services as a strong player in the specialized contracting services sector, supported by a dedicated workforce of over 50,000 employees.

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, Inc. is positioned for steady growth and resilience in the long term, according to Smartkarma Smart Scores. With a Growth score of 3 and a Resilience score of 3, the company is expected to continue expanding its specialized contracting services for electric utilities, telecommunication, and governmental entities. This indicates a positive outlook for Quanta Services as it navigates through various market challenges.

Moreover, Quanta Services shows strong momentum with a score of 4, suggesting that the company is on a path towards sustainable development and success. While the Value and Dividend scores are lower at 2, the overall Smart Scores paint a promising picture for Quanta Services as it continues to operate projects across North America, providing essential services for industrial and commercial customers.

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