Quanta Services, Inc.
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Range $650 – $940
Price Chart
About the company
Quanta Services, Inc. is a global provider of specialized contracting solutions. The company operates through three main business segments: The Electric Power Infrastructure Solutions division is dedicated to designing, procuring, constructing, upgrading, repairing, and maintaining critical infrastructure for electric power transmission, distribution networks, and substation facilities.
- CEO
- Earl C. Austin Jr.
- IPO
- 1998
- Employees
- 69,500
- HQ
- Houston, TX, US
AI snapshot
Six angles, distilled from the data.
The stock remains in a long-term uptrend, holding well above its 200-day average of 571.08 and still trading in the upper half of its 52-week range. That keeps the regime constructive, though the move has cooled from the highs near 788.75 and now looks more like a mature advance than a breakout.
Street sentiment stays favorable: consensus is Buy with a 742.65 target, above the current share price. Recent action is mixed but constructive, with Jefferies lifting its target to 833 and KeyBanc upgrading to Overweight, even as a few firms trimmed targets or turned more cautious.
Quanta has a clean beat streak, going 8-for-8 with the last quarter topping estimates by 29.7%. Next-year EPS estimates still point higher, with 2027 consensus at 18.17 versus 2026’s 8.72 TTM base, so shareholders should watch whether margin and backlog execution keep pace with that step-up.
Recent insider activity leans to net selling, but most of the filings are exempt award-related entries rather than discretionary trades. The only clear open-market signal is a director sale of 196 shares, which is modest relative to the company’s size and does not change the broader ownership picture.
Profitability is solid for an engineering and construction name, with a 15.5% gross margin, 7.22% operating margin, and 4.03% net margin. Growth is strong too, with revenue up 41.1% year over year and earnings up 94.7%, while free cash flow reached $2.84 billion in fiscal 2025.
Quanta stands out on scale, utility exposure, and execution in electrification and infrastructure buildout. The valuation is rich versus the broader industrials group, with a 57.74 P/E, so the setup favors continued growth delivery to justify the premium.
Similar companies
Peers in the same neighborhood.
- Market Cap
- $100.17B
- P/E
- 75.37
- Fwd P/E
- 39.83
- PEG
- 2.17
- P/S
- 3.06
- P/B
- 10.38
- EV/EBITDA
- 35.00
- Div Yield
- 0.06%
- Gross Margin
- 14.42%
- Op Margin
- 6.20%
- Net Margin
- 4.08%
- ROE
- 14.86%
- ROIC
- 8.43%
Latest fiscal year · YoY change
- Revenue
- $28.35B+19.8%
- Gross Profit
- $3.69B+18.1%
- Op Income
- $1.64B
- Net Income
- $1.03B+13.7%
- EPS
- $6.87+11.5%
- OCF Growth
- +7.1%
- FCF Growth
- +9.7%
- 52W High
- $788.75
- 52W Low
- $363.01
- 50D MA
- $672.58
- 200D MA
- $577.23
- Beta
- 1.22
- RSI (14)
- 49
- Avg Volume
- 1.22M
Earnings call summaries
Pick a quarter — each call distilled into takeaways, results, and a bull vs bear read.
Quanta said Q2 results beat expectations with record backlog, and it raised full-year 2026 guidance across revenue, EBITDA, EPS and free cash flow.· July 30, 2026
- Q2 revenue was $9.6 billion, net income was $451 million, adjusted EPS was $4.24 and adjusted EBITDA was $1.1 billion, with about $11 million of adjusted EBITDA from acquisitions closed in the quarter.
- Management said second-quarter results meaningfully exceeded expectations on broad-based organic strength, not just acquisitions, and backlog hit a record $53 billion.
- Full-year 2026 guidance was raised to revenue of $39.3 billion-$39.7 billion, adjusted EBITDA of $4.1 billion-$4.2 billion, adjusted EPS of $16.45-$16.95 and free cash flow of $2 billion-$2.5 billion.
- The company said it closed four acquisitions for about $1.24 billion upfront net of cash acquired, plus about $242 million of contingent consideration, and expects $1.2 billion-$1.4 billion of revenue and $120 million-$140 million of adjusted EBITDA from them.
- Management remained bullish on long-cycle utility transmission, generation, data center and fabrication opportunities, saying the bigger projects are still early and should stack over the coming years.
Quanta reported second-quarter 2026 revenue of $9.6 billion, net income attributable to common stock of $451 million, or $2.96 per diluted share, adjusted diluted EPS of $4.24, and adjusted EBITDA of $1.1 billion. The quarter included about $11 million of adjusted EBITDA from acquisitions closed during the quarter. Management said results were historically strong and included record backlog of $53 billion, but the transcript did not provide year-over-year percentages for the reported financial metrics. For full-year 2026, Quanta raised guidance to revenue of $39.3 billion-$39.7 billion, adjusted EBITDA of $4.1 billion-$4.2 billion, adjusted EPS of $16.45-$16.95 and free cash flow of $2 billion-$2.5 billion. The company also guided to $1.2 billion-$1.4 billion of revenue and $120 million-$140 million of adjusted EBITDA from the recently acquired businesses.
Duke Austin said Quanta’s quarter reflected broad-based organic strength, disciplined execution and the payoff from years of investment in craft labor, self-perform capability and customer relationships. He emphasized that the company is early in several large utility generation, transmission and technology/load-center programs, and that the recent acquisitions expand Quanta’s platform in high-growth, high-complexity work. His tone was highly confident and forward-looking, repeatedly framing the business as just getting started.
Jayshree Desai highlighted Q2 revenue of $9.6 billion, net income of $451 million, adjusted EPS of $4.24 and adjusted EBITDA of $1.1 billion, and said the first half exceeded initial expectations. She raised full-year guidance to revenue of $39.3 billion-$39.7 billion, adjusted EBITDA of $4.1 billion-$4.2 billion, adjusted EPS of $16.45-$16.95 and free cash flow of $2 billion-$2.5 billion. She also said the four acquisitions were done for about $1.24 billion of upfront consideration net of cash acquired, plus about $242 million of contingent consideration, and that leverage improved to 1.7 from 1.95 at the end of 2025 with total liquidity of about $2.8 billion.
Analysts focused on margin upside, utility self-perform trends in generation, data center growth, modular/fabrication, free cash flow conversion, backlog quality and the risk of data center permitting or state pauses. Management said margins have room to improve because the business mix is changing, synergies are showing up and more self-perform work is coming through, while still keeping guidance prudent. On data centers, Quanta said it only books backlog when it has a limited authorization to proceed, so the backlog is conservative; on free cash flow, Desai said favorable contracting terms and growth in MEP, EPC and renewables should support strong conversion, though utility growth can still pressure working capital.
The positive case is that Quanta is seeing broad-based demand across utility T&D, generation, data centers, fabrication and renewables, while backlog is already at a record $53 billion. Management also said the bigger projects are still early and should create a multi-year stacking effect, which could support continued growth and margin expansion.
The main risks discussed were project timing, execution on large generation and transmission builds, and the fact that some of the biggest opportunities are still not in backlog. Management also acknowledged that utility-side working capital can pressure free cash flow, that some states could add friction around data centers, and that margins depend on mix and risk management rather than being guaranteed to expand.
AI summary of the company's earnings call · Paraphrased · Not investment advice
- Free Float
- 99.1%
- Shares Outstanding
- 150.34M
- Float Shares
- 148.94M
of shares held by institutions
1,800 13F filers
Buy/sell ratio 0.00. Sells can include pre-scheduled 10b5-1 plan sales, not just discretionary selling.
Congressional trading
Senate and House stock disclosures for PWR, newest first.
| Member | Type | Traded | |
|---|---|---|---|
| Alan ArmstrongSenate | Buy | Mar 27, 26 | Filing → |
| April DelaneyHouse · MD06 | Sell | May 14, 26 | Filing → |
| April DelaneyHouse · MD06 | Sell | May 13, 26 | Filing → |
| Dwight EvansHouse · PA03 | Sell | May 7, 26 | Filing → |
| Lizzie FletcherHouse | Sell | Apr 8, 26 | Filing → |
| Gilbert CisnerosHouse · CA31 | Buy | Jan 30, 26 | Filing → |
| Gilbert CisnerosHouse · CA31 | Sell | Dec 24, 25 | Filing → |
| Gilbert CisnerosHouse · CA31 | Sell | Dec 19, 25 | Filing → |
| April DelaneyHouse · MD06 | Sell | Dec 2, 25 | Filing → |
| Gilbert CisnerosHouse · CA31 | Buy | Nov 18, 25 | Filing → |
| April DelaneyHouse · MD06 | Sell | Nov 17, 25 | Filing → |
| Gilbert CisnerosHouse · CA31 | Buy | Oct 17, 25 | Filing → |
| Gilbert CisnerosHouse · CA31 | Buy | Sep 12, 25 | Filing → |
| Valerie HoyleHouse · OR04 | Sell | Sep 23, 25 | Filing → |
Source: public STOCK Act disclosures. Filed weeks after the trade — a lagging signal, not a real-time one.
Top institutional holders
Largest 13F positions, with quarter-over-quarter change.
| Holder | Shares | Δ Quarter |
|---|---|---|
| Vanguard Group Inc | 18.08M | ▼ 58.63K |
| Blackrock, Inc. | 13.06M | ▼ 989.28K |
| Vanguard Capital Management LLC | 9.80M | ▲ 96.50K |
| State Street Corp | 6.58M | ▲ 296.89K |
| Jpmorgan Chase & Co | 5.31M | ▼ 764.32K |
| Peconic Partners LLC | 4.72M | ▼ 286.99K |
| Geode Capital Management, LLC | 3.52M | ▼ 667.24K |
| Fmr LLC | 3.51M | ▼ 620.65K |
| Bank Of America Corp | 3.17M | ▼ 272.03K |
| Morgan Stanley | 2.31M | ▲ 164.90K |
| Capital World Investors | 2.01M | ▼ 64.84K |
| First Trust Advisors LP | 1.95M | ▲ 941.31K |
Held by 1,764 ETFs
Biggest fund positions in PWR by dollar value.
Recent insider transactions
Who's buying, who's selling, and how much.
| Date | Insider | Type | Shares |
|---|---|---|---|
| Jun 1, 26 | BAXTER WARNER L | other | 559 |
| Jun 1, 26 | BAXTER WARNER L | other | 559 |
| Jun 1, 26 | Beneby Doyle N | other | 870 |
| Jun 1, 26 | Beneby Doyle N | other | 870 |
| Jun 1, 26 | FRIED BERNARD | other | 559 |
| Jun 1, 26 | FRIED BERNARD | other | 559 |
| Jun 1, 26 | Ladhani Holli C. | other | 559 |
| Jun 1, 26 | Ladhani Holli C. | sell | 196 |
| Jun 1, 26 | Ladhani Holli C. | other | 559 |
| Jun 1, 26 | Rowe Robert Scott | other | 559 |
A “Sell” may be a pre-scheduled 10b5-1 plan sale rather than a discretionary decision — read insider selling with that in mind.
Our PWR coverage
Recent articles, reports, and earnings notes.

Quanta Services (PWR): Record Backlog, Rich Valuation
Quanta Services is executing at a high level, with record backlog, strong revenue growth, and raised guidance. The stock’s premium valuation keeps the rating at Hold despite a powerful long-term infrastructure thesis.

The next AI infrastructure trade is the grid, not another nuclear moonshot
AI data-center demand is exposing an immediate bottleneck in transformers, switchgear, transmission and generation capacity, while nuclear remains a longer-dated option. The cleaner trade is the grid equipment already converting that shortage into orders and earnings, not another speculative reactor story.

AI’s next bottleneck is electricity, not chips
The AI infrastructure race is becoming a power-and-grid race, as AMD’s 2.5 GW agreement and a proposed $100 billion data-center campus show. That favors electrical equipment, engineering, storage, and reliable generation over the latest chip headline alone.
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AI analysis · Last refreshed August 13, 2026 · Live quote · Not investment advice