Quanta Services, Inc.’s Stock Price Plummets to $292.43, Witnessing a Steep Decline of 18.32%

Quanta Services, Inc. (PWR)

292.43 USD -65.60 (-18.32%) Volume: 4.48M

Quanta Services, Inc.’s stock price stands at 292.43 USD, experiencing a significant fall of -18.32% this trading session with a trading volume of 4.48M. Despite a year-to-date percentage change of -7.47%, PWR continues to be a monitored stock in the market.

Latest developments on Quanta Services, Inc.

Quanta Services Inc. (NYSE:PWR) has been making headlines recently with various developments affecting its stock price. Earnings expectations are high as investors eagerly await the company’s upcoming report. Despite a gap down in shares, analysts warn that getting in cheap on Quanta Services might be a challenge. The stock underperformed compared to competitors on Monday, but it remains a key player on IBD watchlists. Lebenthal Global Advisors LLC and Union Bancaire Privee UBP SA have both made significant investments in the company, with the former holding a stake worth $2.73 million and the latter a $46.36 million position. Exchange Traded Concepts LLC has reduced its stock position, while CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT recently purchased 3,000 shares. With all these recent movements, it’s no wonder why PWR is retreating today.

Quanta Services, Inc. on Smartkarma

Analysts on Smartkarma have mixed opinions on Quanta Services. Value Investors Club sees a bearish outlook, citing a surge in demand benefiting the company but expecting a decrease in 2024. They view Quanta Services as a compelling short opportunity due to limited market potential. On the other hand, Baptista Research leans bullish, highlighting the company’s robust third-quarter results and strong performance despite operational challenges. They focus on factors influencing the company’s price and conduct an independent valuation using a Discounted Cash Flow methodology.

Value Investors Club also published a bullish report on Quanta Services, noting the company’s positioning to benefit from infrastructure expansion and modernization trends. They emphasize Quanta’s specialization in infrastructure solutions for utilities, communications, and energy industries, with a strong focus on Electric Power Infrastructure Solutions. Baptista Research echoes this positive sentiment, highlighting Quanta Services‘ strong financial performance in the second quarter of 2024, driven by ongoing demand for its services in renewable energy and power grid infrastructure development in North America.

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 looking at a promising long-term outlook based on the Smartkarma Smart Scores. With a solid momentum score of 4, the company is showing strong potential for growth and performance in the coming years. Additionally, Quanta Services has received respectable scores for resilience and growth, indicating its ability to withstand challenges and expand its operations. While the value and dividend scores are not as high, the overall outlook for Quanta Services appears positive, especially with its strong momentum score.

Specializing in contracting services for various sectors, including electric utilities and telecommunications, Quanta Services has a diverse portfolio that positions it well for future opportunities. The company’s presence throughout North America further enhances its growth prospects. With a balanced mix of strengths in different areas, Quanta Services is well-positioned to capitalize on its momentum and continue its upward trajectory in the long term.

Disclaimer: This article by Smartkarma is general in nature and based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. Note that our articles may not factor in the latest price-sensitive company announcements or qualitative material.
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