Quanta Services, IncNYSE: PWR
Industrials · Construction & Engineering
$704.73
-1.42%
Vol: 1.3M
Research Digest
Friday, June 19, 2026
Quanta Services slides on insider selling and valuation concerns despite record $48.5B backlog and AI-energy bull thesis
Quanta Services (PWR) has pulled back about 5% over the past week and roughly 11% over 30 days as investors react to a series of insider stock sales and valuation concerns, even as fundamentals remain strong. The company posted Q1 2026 revenue of $7.87B (up from $6.23B a year ago) and net income of $220.6M, or $1.45 per diluted share, with a record backlog of $48.5B as of March 31, 2026. Zacks named PWR its "Bull of the Day" on June 12, 2026, citing its central role in the AI-driven energy and infrastructure buildout. Analysts remain broadly positive: Oppenheimer upgraded to Outperform with an $800 target in late May, and UBS raised its target to $900. The main near-term risk is stretched valuation after a 90%+ one-year run, leaving the stock vulnerable to insider-selling headlines and momentum reversals.
Previous Market Intelligence
13 daysJun 18Quanta Services rose 3.5% on June 12 on a record $48.5B backlog and a Q1 beat, with Oppenheimer and UBS lifting targets toward $800-$900.Positive▶
Quanta Services gained 3.51% on June 12, 2026, supported by a record $48.5 billion backlog as of March 31, 2026 and a strong Q1 2026 beat: revenue rose to $7.87 billion from $6.23 billion a year earlier and adjusted diluted EPS jumped to $2.68 from $1.78, prompting raised full-year 2026 revenue and EPS guidance. Management is leaning into electrification and AI-driven power demand, and in May announced a new $1 billion stock repurchase program and a quarterly dividend, signaling confidence. Oppenheimer upgraded the stock to Outperform with an $800 target in late May, while UBS raised its target to $900 from $646 in early May; the consensus is Moderate-to-Strong Buy. The bear case flagged by Simply Wall St is recent insider selling and a share-price pullback against an already-elevated valuation.
Jun 17No significant overnight updatesNeutral▶
No material news in the last 48 hours.
Jun 16No significant overnight updatesNeutral▶
No material news in the last 48 hours.
Jun 15No significant overnight updatesNeutral▶
No material news in the last 48 hours.
Jun 14Quanta Services rose 3.51% Friday and was named Zacks 'Bull of the Day' on June 12 amid AI power-demand tailwindsPositive▶
Quanta Services shares rose 3.51% on Friday, June 12, 2026, outperforming the Industrial & Commercial Services sector (up 1.17%), and were designated Zacks Equity Research's 'Bull of the Day' the same day. The move builds on strong Q1 2026 results that beat expectations, with revenue of $7.87 billion (up from $6.23 billion a year earlier), adjusted diluted EPS gains, a record backlog of $48.5 billion as of March 31, and raised full-year 2026 guidance. The company also announced a $1 billion stock repurchase program and a dividend. The bull case is durable demand from electrification and AI/data-center power buildout driving a ~20% earnings growth forecast for 2026. The bear case centers on a premium valuation, execution and permitting risks, and a recent series of insider stock sales that have weighed on sentiment, with some analysts maintaining a Hold on valuation concerns.
May 21Quanta Services holds Annual Meeting May 21 amid 6.1% pullback to $723 despite analyst PTs raised toward $900Mixed▶
Quanta Services holds its Annual Meeting of Stockholders on May 21, 2026 at 8:30 a.m. CDT, the same day as today's research. The meeting follows a 6.1% share-price drop to $723.03 on May 18 despite a string of bullish analyst actions on the back of strong Q1 results - revenue of $7.87B (up 26.3% YoY), adjusted EPS of $2.68 vs. $2.03 consensus, and a record $48.5B backlog up 37% YoY. Recent PT increases include UBS to $900 (from $646), BofA to $800 (from $610), TD Cowen to $775 (from $570), and Citi to $733 (from $640). Management will hit the KeyBanc and Bernstein conferences May 27-28. Insider selling of ~$123M over three months is a watch-item.
May 20Quanta Services shares fell 6.1% to $723.03 on May 18 after the company announced plans to nearly double its modular data center manufacturing footprint and unveiled a roadshow at six May-June investor conferences.Mixed▶
Quanta Services shares declined 6.1% on May 18, 2026 to $723.03 despite a strong fundamental backdrop. Q1 2026 revenue reached $7.87B with net income of $220.6M and adjusted diluted EPS of $2.68 beating expectations, with total backlog growing 37% YoY to $48.5B. The company raised its full-year 2026 revenue and earnings guidance and outlined plans to nearly double its manufacturing, fabrication, and logistics footprint to push deeper into modular data center infrastructure for hyperscale clients. Quanta announced participation in six institutional investor conferences May 27-28 and June 16-17, 2026, including KeyBanc, Bernstein Strategic Decisions, Truist, and TD Cowen events. UBS raised its price target to $900 from $646 and TD Cowen raised its target to $775 from $570. Average analyst rating is Buy.
May 19Quanta Services stock falls 4.91% on May 18 on insider selling and valuation concerns despite record $48.5B backlogMixed▶
Quanta Services shares dropped 4.91% on May 18, 2026 to $731.04 as insider selling and perceived overvaluation pressured the stock despite a record $48.5 billion backlog (up 37% YoY) and Q1 2026 revenue of $7.87B versus $6.23B a year earlier. Adjusted diluted EPS of $2.68 beat $1.78 in Q1 2025, and management raised full-year 2026 guidance citing improved visibility on power, renewable, and pipeline infrastructure demand. The board also approved a $0.11 quarterly dividend, ~10% above the prior level. UBS recently raised its price target to $900 from $646 and TD Cowen lifted its target to $775 from $570, both reflecting bullish power-grid capex tailwinds. The bear case is that valuation is stretched after a strong run, and insider sales plus broader risk-off sentiment have triggered profit-taking.
May 18Quanta Services raised FY2026 EPS guidance to $13.55-$14.25 after Q1 revenue surged 26.3% to $7.87B with record $48.5B backlog up 37% YoYPositive▶
Quanta Services reported strong Q1 2026 results in early May with revenue up 26.3% YoY to $7.87 billion (vs. $6.99B consensus) and adjusted EPS of $2.68 (vs. $2.03 consensus), with organic revenue rising nearly 14% and total backlog growing 37% YoY to a record $48.5 billion. Management raised FY2026 adjusted EPS guidance to $13.55-$14.25 from $12.65-$13.35 and revenue to $34.7B-$35.2B from $33.25B-$33.75B, driven by data center power demand, grid hardening, and renewable energy projects. The company also outlined plans to nearly double manufacturing, fabrication, and logistics footprint for modular data center infrastructure. Multiple analysts including UBS, TD Cowen, Stifel, Bank of America, Baird, Truist, JPMorgan, and Citi raised price targets. Bear case: CEO Earl Austin sold 155,992 shares totaling roughly $120.2 million on May 7, signaling potential valuation concerns; the data-center thesis is sensitive to hyperscaler capex pullback.
May 15Quanta Services Q1 revenue surges 26.3% to $7.87B as PWR rides AI data-center and grid-modernization demand; UBS lifts PT to $900Positive▶
Quanta Services reported a blockbuster Q1 2026 with revenue of $7.87B (up 26.3% YoY) and adjusted EPS of $2.68 (up from $1.78), beating consensus EPS of $2.04 by 31.5%. The company raised full-year 2026 revenue and adjusted diluted EPS guidance. Growth is driven by electric transmission and distribution upgrades, renewable energy installation and maintenance, and surging demand from AI/data-center build-out. Management reiterated mid-to-high-teens earnings growth or better through at least the end of the decade, citing grid modernization, electrification, renewables transition, industrial reshoring and communications upgrades. Analyst price target hikes followed: UBS raised PT to $900, TD Cowen to $775, with Cantor Fitzgerald maintaining Buy. Shares closed at $773.72 on May 13, up 31.71% over the past month and 127.32% over 52 weeks. Risk: extended valuation leaves the stock exposed to any moderation in data-center capex.
May 14Quanta Services CEO Earl Austin sold 155,992 shares worth $120.2 million in an insider transaction disclosed this week, as shares set an all-time high of $788.75 on a 65.9% six-month gain.Mixed▶
Quanta Services CEO Earl Austin executed a major stock sale of 155,992 shares for a total value of $120,216,530, disclosed in recent insider-trading filings. PWR set an all-time high of $788.75 on May 6 and was trading at $781.38 with valuation models flagging the stock as significantly overvalued versus a GF Value of $386.32. The backdrop is Q1 2026 results showing revenue up 26.3% to $7.87 billion versus $6.99B expected, adjusted EPS of $2.68 vs. $2.03 consensus, and FY26 EPS guidance raised to $13.55-$14.25 from $12.65-$13.35 with a record $48.5 billion backlog. On May 4, TD Cowen raised its price target to $775 from $570 (Buy). This matters because the CEO's $120M sale, combined with stretched valuation, raises questions about near-term upside despite strong fundamentals. The risk is a sentiment-driven pullback if more insiders sell or if data-center capex expectations begin to moderate.
May 13Quanta Services CEO sold 2,992 shares for ~$2.3M on May 5 as stock approaches all-time highs after Q1 beat and raised FY guidance.Positive▶
Quanta Services trades near its all-time high ($788.75 on May 6) after a strong Q1 beat (EPS $2.68 vs est., revenue +26% to $7.87B) and raised FY 2026 guidance to $13.55-$14.25 EPS and $34.7-$35.2B revenue. CEO Earl C. Austin Jr. sold ~$2.3M in shares on May 5, which can be a near-term overhang. The company also raised its quarterly dividend ~10% to $0.11/share. Risk: stock has rallied ~30% in the past month and ~140% YoY, leaving little room for execution missteps amid lofty grid-modernization and data-center expectations. Backlog of $48.5B grew 37% YoY, supporting the bullish electrification thesis.
May 12Quanta Services jumped 4.9% on May 11 to $781.38 after Q1 revenue of $7.87B (+26.3%), EPS of $2.68, record $48.5B backlog and raised FY26 guidance.Positive▶
On May 11, Quanta Services posted Q1 2026 revenue of $7.87 billion (up 26.3% YoY) versus $6.99 billion expected and adjusted EPS of $2.68 versus $2.03 consensus, driving shares up 4.9% to $781.38. The company raised FY26 adjusted EPS guidance to $13.55-$14.25 (from $12.65-$13.35), revenue guidance to $34.7-$35.2 billion (from $33.25-$33.75 billion), and adjusted EBITDA to $3.49-$3.65 billion. Backlog reached a record $48.5 billion. Quanta also outlined plans to nearly double its manufacturing, fabrication, and logistics footprint to support modular data center infrastructure for hyperscalers. Shares are up 128% over the past year and 69% YTD.
Sector Peers
| Company | Price | Day | 1M | Fwd P/E | Beta | Mkt Cap |
|---|---|---|---|---|---|---|
| PWRQUANTA | $704.73 | -1.42% | -1.1% | 42.7x | 1.22 | $105.4B |
| FIXCOMFORT | $1,974.07 | +2.19% | +7.2% | 36.8x | 1.67 | $69.2B |
| EMEEMCOR | $840.11 | +1.52% | -1.9% | 25.6x | 1.12 | $37.3B |
| JJACOBS | $121.22 | -1.33% | +6.3% | 14.6x | 0.68 | $14.3B |
| CATCATERPILLAR | $991.23 | +3.69% | +13.0% | 32.8x | 1.60 | $454.1B |
| GEGENERAL | $359.14 | +0.59% | +19.1% | 41.2x | 1.38 | $373.7B |
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Price above both MAs — bullish structure.