ABN Amro Investment Solutions trimmed its position in shares of Quanta Services, Inc. (NYSE:PWR – Free Report) by 6.2% in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 47,353 shares of the construction company’s stock after selling 3,106 shares during the quarter. ABN Amro Investment Solutions’ holdings in Quanta Services were worth $25,998,000 as of its most recent filing with the Securities & Exchange Commission.
Several other hedge funds and other institutional investors have also made changes to their positions in the company. Brighton Jones LLC bought a new stake in shares of Quanta Services in the 4th quarter worth about $298,000. Woodline Partners LP raised its position in Quanta Services by 40.7% in the 1st quarter. Woodline Partners LP now owns 12,471 shares of the construction company’s stock worth $3,170,000 after purchasing an additional 3,606 shares during the period. Arrowstreet Capital Limited Partnership bought a new stake in Quanta Services in the second quarter worth about $4,632,000. Marshall Wace LLP purchased a new position in shares of Quanta Services during the second quarter valued at approximately $996,000. Finally, StoneX Group Inc. bought a new position in shares of Quanta Services during the second quarter valued at approximately $204,000. Hedge funds and other institutional investors own 90.49% of the company’s stock.
Quanta Services Price Performance PWR opened at $638.74 on Wednesday. The company has a market capitalization of $95.85 billion, a price-to-earnings ratio of 87.62, a PEG ratio of 2.49 and a beta of 1.21. The company has a current ratio of 1.14, a quick ratio of 1.09 and a debt-to-equity ratio of 0.57. Quanta Services, Inc. has a 12-month low of $363.01 and a 12-month high of $788.75. The business’s fifty day simple moving average is $698.00 and its 200-day simple moving average is $602.38.
Quanta Services (NYSE:PWR – Get Free Report) last released its quarterly earnings data on Thursday, April 30th. The construction company reported $2.68 earnings per share for the quarter, beating the consensus estimate of $2.04 by $0.64. Quanta Services had a return on equity of 18.64% and a net margin of 3.67%.The firm had revenue of $7.87 billion during the quarter, compared to the consensus estimate of $7 billion. During the same period in the previous year, the company posted $1.78 earnings per share. The firm’s quarterly revenue was up 26.3% on a year-over-year basis. Quanta Services has set its FY 2026 guidance at 13.550-14.250 EPS. On average, equities research analysts anticipate that Quanta Services, Inc. will post 12.8 earnings per share for the current fiscal year.
Quanta Services Dividend Announcement The firm also recently declared a quarterly dividend, which was paid on Monday, July 13th. Stockholders of record on Wednesday, July 1st were given a $0.11 dividend. This represents a $0.44 annualized dividend and a dividend yield of 0.1%. The ex-dividend date of this dividend was Wednesday, July 1st. Quanta Services’s dividend payout ratio is presently 6.04%.
Quanta Services announced that its board has authorized a share buyback program on Friday, May 22nd that allows the company to repurchase $1.00 billion in shares. This repurchase authorization allows the construction company to buy up to 0.9% of its shares through open market purchases. Shares repurchase programs are often a sign that the company’s board of directors believes its shares are undervalued.
Wall Street Analyst Weigh In A number of equities research analysts recently issued reports on PWR shares. UBS Group raised their price target on Quanta Services from $646.00 to $900.00 and gave the stock a “buy” rating in a research note on Monday, May 4th. B. Riley Financial reiterated a “neutral” rating on shares of Quanta Services in a research note on Friday, May 1st. Zacks Research lowered shares of Quanta Services from a “strong-buy” rating to a “hold” rating in a research note on Monday, July 6th. Truist Financial upped their price target on shares of Quanta Services from $851.00 to $940.00 and gave the stock a “buy” rating in a report on Thursday, July 2nd. Finally, CICC Research began coverage on shares of Quanta Services in a research note on Thursday, May 21st. They issued an “outperform” rating and a $872.00 price target on the stock. Seventeen equities research analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the company. Based on data from MarketBeat.com, Quanta Services currently has a consensus rating of “Moderate Buy” and an average price target of $745.55.
Check Out Our Latest Research Report on PWR
Insider Activity at Quanta Services In other Quanta Services news, CAO Paul Nobel sold 4,000 shares of the company’s stock in a transaction on Monday, May 4th. The stock was sold at an average price of $756.98, for a total transaction of $3,027,920.00. Following the completion of the sale, the chief accounting officer owned 8,080 shares in the company, valued at $6,116,398.40. This represents a 33.11% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Earl C. Jr. Austin sold 25,992 shares of the company’s stock in a transaction on Tuesday, May 5th. The stock was sold at an average price of $770.71, for a total value of $20,032,294.32. Following the sale, the chief executive officer owned 16,508 shares of the company’s stock, valued at $12,722,880.68. This trade represents a 61.16% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 159,992 shares of company stock valued at $123,244,714 in the last ninety days. Corporate insiders own 0.60% of the company’s stock.
Key Stories Impacting Quanta Services Here are the key news stories impacting Quanta Services this week:
Positive Sentiment: Quanta was named the 2026 Top U.S. Solar Solutions Provider by Solar Power World for the third time in four years, highlighting its leadership in solar project execution and its ability to win large renewable-energy contracts. Quanta Services Named 2026 Top U.S. Solar Solutions Provider by Solar Power World Positive Sentiment: Analysts and investors are pointing to Quanta’s execution certainty as a competitive advantage, especially as utilities and technology customers ramp up spending on large, complex infrastructure projects. Can Quanta’s Execution Certainty Strengthen Its Competitive Position? Positive Sentiment: JPMorgan reaffirmed a Neutral rating but set a $714 price target, which is above the current share price and suggests upside if execution remains strong. JPMorgan rating update via Benzinga Neutral Sentiment: Market commentary noted that PWR has outpaced the broader market in the latest session, reflecting continued investor interest but not a new fundamental catalyst. Quanta Services (PWR) Outpaces Stock Market Gains: What You Should Know Neutral Sentiment: One article argued the stock may look pricey on cash flow and earnings, which could limit near-term upside if valuation concerns gain traction. Quanta Services (PWR) Stock Looks Pricey On Cash Flow And Earnings Neutral Sentiment: NZS Capital said it strengthened its position in Quanta in a quarterly letter, but the note was broader portfolio commentary rather than a company-specific catalyst. NZS Capital Quanta Services position update Quanta Services Profile (Free Report)
Quanta Services, Inc is a leading specialty contractor that provides comprehensive infrastructure solutions for the electric power, pipeline and energy, and communications markets. Headquartered in Houston, Texas, the company delivers engineering, procurement, construction, installation, maintenance and repair services that support the development, modernization and ongoing operation of critical energy and communications networks.
In the electric power sector, Quanta works on transmission and distribution systems, substation construction and grid modernization projects that include integration of renewable generation and energy storage.
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Quanta těží z rostoucích investic utilit do přenosových sítí a uzavírá víceleté dohody na infrastrukturních programech. Na konci 1. čtvrtletí měla rekordní backlog 48,5 mld. USD, z toho 12měsíční 28,2 mld. USD, meziročně o 45,4 %.
Key Takeaways Quanta is benefiting as utilities expand transmission networks and increase long-term capital spending.PWR is working with utilities on multiyear capital planning and integrated infrastructure solutions.Quanta ended Q1 with a record $48.5B backlog, including a 12-month backlog of $28.2B, up 45.4%. Quanta Services, Inc. (PWR - Free Report) is well positioned to benefit from rising utility infrastructure spending as power companies expand their networks to support growing electricity demand. Utilities are increasing long-term capital investments as transmission systems grow in scale and technology-driven power demand accelerates, creating favorable conditions for infrastructure providers with broad execution capabilities. This environment aligns well with Quanta's integrated business model and expanding role in large utility infrastructure programs.
Quanta has strengthened its position by becoming more deeply involved in customers' long-term capital planning rather than participating only at the project bidding stage. The company is increasingly working alongside utilities as they develop multiyear capital programs, allowing it to provide integrated engineering, procurement, construction and supply-chain solutions across large and complex infrastructure projects. This approach also supports greater execution certainty, helping customers manage labor availability, project schedules and supply-chain challenges more effectively.
The company's expanding role in utility infrastructure programs is also improving long-term project visibility. Management indicated that customer relationships have evolved into broader strategic partnerships, with a growing share of work being negotiated directly as infrastructure programs become larger and more complex. Quanta ended the first quarter with a record backlog of $48.5 billion, up from $35.3 billion a year ago, including a 12-month backlog of $28.2 billion, up 45.4%, reinforcing strong multiyear revenue visibility.
As utilities continue investing in transmission networks and broader capital programs, Quanta's integrated service offering, long-standing customer relationships and growing participation in multiyear infrastructure planning position it to benefit from sustained utility infrastructure spending.
How Does Quanta Compare With Infrastructure Peers?Quanta has established a leading position in North America's power infrastructure market, benefiting from growing investments in grid modernization, transmission expansion and electrification. As investors assess whether the company can sustain the long-term growth, comparisons with EMCOR Group, Inc. (EME - Free Report) and MasTec, Inc. (MTZ - Free Report) highlight its differentiated exposure to the evolving utility infrastructure landscape.
EMCOR is also benefiting from robust demand across electrical and mechanical construction, supported by data centers, manufacturing, health care and institutional projects. The company ended the first quarter with remaining performance obligations of $15.62 billion, reflecting strong project visibility. However, EMCOR’s growth remains more closely tied to building construction and facility-related services than utility transmission infrastructure.
MasTec is a closer peer, with exposure to power delivery, telecom, clean energy, pipeline and data center infrastructure. The company reported a record backlog of $20.3 billion and continues to benefit from investments in grid reliability, transmission expansion and AI-driven electricity demand. However, Quanta's integrated solutions platform, manufacturing investments and strong backlog position it to capture a broader share of North America's multiyear grid modernization opportunity.
PWR’s Price Performance, Valuation & EstimatesPWR stock has rallied 53.2% in the year-to-date (“YTD”) period, outperforming the Zacks Engineering - R and D Services industry, the broader Construction sector and the S&P 500 index.
PWR YTD Share Price Performance
Image Source: Zacks Investment Research
From a valuation standpoint, PWR trades at a forward 12-month price-to-earnings ratio of 42.16X, well above the industry’s 28.47X, as shown below.
PWR Valuation
Image Source: Zacks Investment Research
The Zacks Consensus Estimate for Quanta’s 2026 earnings per share has remained unchanged at $14.03 in the past 30 days. This indicates expected earnings growth of 30.5% year over year.
Image Source: Zacks Investment Research
PWR’s Zacks RankQuanta currently has a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Quanta Services oznámila rekordní zakázkovou knihu 48,5 mld. USD, což potvrzuje silnou poptávku po výstavbě infrastruktury pro AI. Firma navíc školí vlastní pracovní sílu, což jí dává výhodu v době nedostatku kvalifikovaných lidí.
For a while now, Nvidia (NVDA +3.90%) CEO Jensen Huang has been making a point that runs counter to the usual AI hype. The bottleneck in building out artificial intelligence, he argues, isn't just chips, it's the electricians, pipefitters, and grid crews needed to raise the data centers, fabs, and power lines those chips depend on. He's gone so far as to suggest skilled tradespeople could become a new class of high earners. That thesis has a very real corporate beneficiary, and its backlog just told the story.
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Why Quanta Services sits at the center of the build-out Quanta Services (PWR 1.52%) is a specialty contractor that strings transmission lines, builds substations, and wires interconnections that enable a hyperscaler to power a new campus. When Quanta reported earlier this year, its total backlog, essentially the work already signed and waiting to be done, reached a record of $48.5 billion. Management frames the longer-term opportunity as a $2.4 trillion addressable market through 2030, driven by aging grids, new power generation, and the enormous electricity loads that AI facilities represent.
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The moat most investors overlook: Quanta trains its own workforce Here's the angle I find more interesting than the backlog figure itself. If labor is the true constraint on the AI build-out, then the company that controls its own labor supply holds a quiet advantage. Quanta does exactly that. It owns Northwest Lineman College, which trains thousands of pre-apprentices, apprentices, and journey-level line workers every year, and it runs its own advanced training centers to develop crews across its service lines.
Image source: Getty Images.
That matters because you cannot conjure a journeyman lineworker overnight; the training takes years. While competitors bid against each other for the same scarce workers, Quanta is busy manufacturing them, then deploying them on its own projects. In a market where nearly every contractor tells investors the limit is people rather than demand, owning the pipeline of skilled hands is a genuine, durable edge.
None of this makes Quanta a sure thing. The same labor shortage that helps it can also cap how fast it grows, since even Quanta can only train and retain so many workers at once. Large infrastructure projects can slip or be delayed, backlog is a signal of future work rather than guaranteed profit, and heavy reliance on utility and data-center customers ties Quanta's fortunes to their spending plans. The stock has also climbed sharply, which leaves less room for error if results ever disappoint.
The takeaway for investors Quanta Services is one of the clearest ways to invest in the physical side of the AI story -- the concrete, copper, and cooling behind Huang's vision -- without betting on which chipmaker wins. The record backlog confirms that demand is real, and the company's control over its skilled workforce is the kind of advantage that's hard for rivals to quickly replicate. For investors who believe the trades are about to have their moment, this is a name worth studying, provided you're comfortable buying after a strong run.
Quanta očekává, že tržby z technologických koncových trhů vzrostou mezi roky 2025 a 2030 o více než 110 % díky poptávce po AI infrastruktuře. Na konci 1. čtvrtletí 2026 činil backlog 48,5 mld. USD.
Key Takeaways Quanta expects tech-related revenues to more than double from 2025 to 2030 on AI infrastructure demand.Quanta plans $500M-$700M to double transformer capacity and expand off-site facilities to 6.7M sq ft.Quanta's backlog reached $48.5B in Q1 2026, with Electric Infrastructure Solutions above $40B. Quanta Services, Inc. (PWR - Free Report) is positioning itself to capitalize on one of the fastest-growing infrastructure opportunities: the rapid expansion of AI-driven data centers and advanced manufacturing facilities. While the company has historically been known for its utility and energy infrastructure business, management now expects technology-related revenues to more than double over the next several years, highlighting data center infrastructure as an increasingly important long-term growth driver.
Quanta projected that revenues from technology-related end markets would grow by more than 110% between 2025 and 2030. The company believes accelerating investments in hyperscale data centers, AI infrastructure, semiconductor manufacturing and other large-load facilities will create a significant new avenue for growth alongside its traditional utility business.
To support this massive influx of demand, particularly from data center customers, Quanta has launched aggressive vertical supply chain initiatives. This includes an investment of $500 million to $700 million to double its power transformer manufacturing capacity and plans to nearly double its off-site manufacturing, fabrication and logistics facilities to approximately 6.7 million square feet.
PWR's technology ambitions are supported by a record project backlog. At the end of the first quarter of 2026, total backlog reached $48.5 billion, while remaining performance obligations increased to $26.2 billion, providing significant revenue visibility across future periods. The Electric Infrastructure Solutions segment accounted for more than $40 billion of backlog, underscoring continued customer demand across transmission, grid modernization and large-load infrastructure projects.
Quanta's record backlog, higher 2026 guidance and expectation for more than 110% growth in technology-related revenues through 2030 indicate that management views this market as becoming an increasingly important contributor to future growth. Although project timing remains subject to permitting, supply chain, regulatory and macroeconomic risks, the combination of expanding AI infrastructure investment and ongoing grid modernization provides a favorable backdrop for sustained long-term expansion.
Peers Also Capitalizing on AI Infrastructure DemandQuanta is not alone in benefiting from the rapid buildout of AI infrastructure and data centers. Industry peers such as MasTec, Inc. (MTZ - Free Report) and Comfort Systems USA, Inc. (FIX - Free Report) are also expanding their capabilities to capture growing investment across mission-critical infrastructure, power delivery and data center construction.
MasTec continues to see AI and data centers as a major long-term growth driver across multiple business segments. Management highlighted accelerating demand for data center interconnectivity, power infrastructure and turnkey data center construction while noting that its recent turnkey data center project is progressing well. The company believes its integrated capabilities across civil construction, power, telecommunications and maintenance position it to significantly expand this business as customers increasingly seek full-service infrastructure partners.
Comfort Systems is also benefiting from sustained investment in advanced technology projects. During the first quarter of 2026, advanced technology, led primarily by data center work, accounted for 56% of revenues and remained the company's largest source of backlog growth. To support rising demand, Comfort Systems continues to expand its modular manufacturing capacity, targeting 4 million square feet by the end of 2026 while investing in automation and electrical capabilities to serve large-scale technology customers.
PWR’s Price Performance, Valuation & EstimatesPWR stock has rallied 57.8% in the year-to-date (YTD) period, outperforming the Zacks Engineering - R and D Services industry, the broader Construction sector and the S&P 500 index.
PWR YTD Share Price Performance
Image Source: Zacks Investment Research
From a valuation standpoint, PWR trades at a forward 12-month price-to-earnings ratio of 47.37X, well above the industry’s 29.16X, as shown below.
PWR Valuation
Image Source: Zacks Investment Research
Quanta’s earnings estimates for 2026 and 2027 have decreased in the past 60 days. However, the revised estimates for 2026 and 2027 imply year-over-year growth of 30.5% and 17.3%, respectively.
Image Source: Zacks Investment Research
PWR’s Zacks RankQuanta currently has a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Quanta Services zvýšila výhled na rok 2026 po rekordních tržbách za 1. čtvrtletí a backlogu 48,5 miliardy USD. Akcie za rok vzrostly o 78,6 % a obchodují se na 44,11násobku očekávaných zisků.
Key Takeaways Quanta has surged 78.6% in a year, outpacing its industry, sector and the S&P 500.PWR trades at 44.11X forward earnings, well above the industry average of 29.8X.Quanta raised 2026 guidance after record Q1 revenue and backlog reached $48.5 billion. Quanta Services (PWR - Free Report) has been one of the biggest winners in the infrastructure sector over the past year, with its stock soaring 78.6%. The rally has comfortably outpaced the Zacks Engineering - R&D Services industry's 36.8% gain, the Zacks Construction sector's 18.9% advance and the S&P 500's 23.9% rise. Investors have rewarded the company for consistently delivering strong earnings, expanding its backlog and positioning itself at the center of several long-term infrastructure trends.
PWR Price Performance (1 Year)
Image Source: Zacks Investment Research
PWR's Technical Trend
Image Source: Zacks Investment Research
The stock's impressive performance, however, has come with a higher price tag. Quanta now trades at a forward 12-month price-to-earnings (P/E) multiple of 44.11X, significantly above the industry average of 29.8X. While Wall Street remains optimistic about the company's long-term prospects, investors now face an important question: Does Quanta's business outlook justify paying such a premium, or has much of its future growth already been priced into the stock?
PWR Valuation (P/E F12M) vs Industry
Image Source: Zacks Investment Research
The answer depends on whether Quanta can continue converting its industry-leading project pipeline into sustained earnings growth while maintaining strong execution. Let's take a closer look at what continues to support the investment case and the factors that could limit further upside.
Quanta's Growth Drivers Remain StrongQuanta continues to benefit from one of the most attractive infrastructure spending environments in decades. Rising electricity demand, AI-driven data center construction, renewable energy integration, transmission expansion and electric grid modernization are creating significant opportunities across its end markets.
The company has evolved beyond being a traditional contractor into a provider of integrated infrastructure solutions. Its engineering expertise, skilled workforce, fabrication capabilities and supply-chain investments allow it to execute increasingly complex projects for utilities, hyperscalers and industrial customers. This integrated approach has strengthened customer relationships and enabled Quanta to participate earlier in customers' multiyear capital planning cycles.
Management also continues investing to support future demand. The company is expanding transformer manufacturing capacity and nearly doubling its off-site fabrication and logistics footprint, positioning itself to capitalize on accelerating investments in power infrastructure and AI-related projects. These investments should strengthen Quanta's competitive advantage as customers increasingly prioritize execution certainty and supply-chain reliability.
Strong Execution Supports Higher Earnings Outlook for PWRQuanta's first-quarter 2026 results reinforced confidence in its long-term growth strategy. Revenues increased 26.3% year over year to a record $7.87 billion, while adjusted earnings per share (EPS) climbed to $2.68 from $1.78 in the prior-year quarter. Both the Electric Infrastructure Solutions and Underground & Infrastructure Solutions segments delivered margin expansion, highlighting disciplined project execution and favorable work mix. The company also ended the quarter with a record total backlog of $48.5 billion, providing excellent revenue visibility over the coming years.
Following the strong start to the year, management raised its full-year 2026 outlook. Quanta now expects revenues between $34.7 billion and $35.2 billion and adjusted EPS between $13.55 and $14.25, reflecting improved visibility across its utility, power generation and large-load infrastructure businesses.
Management remains equally optimistic about the longer term. At its recent Investor Day, Quanta outlined a strategy to more than double adjusted earnings power by 2030, supported by an estimated $2.4 trillion addressable market spanning utilities, power generation and large-load infrastructure.
Analysts also remain constructive. Over the past 60 days, the Zacks Consensus Estimate for 2026 EPS has increased from $13.87 to $14.03, representing expected growth of 30.5% from 2025. Revenue estimates point to 22.1% growth in 2026, followed by continued double-digit growth in 2027.
PWR EPS Estimate
Image Source: Zacks Investment Research
PWR Stock’s Premium Valuation Demands Continued ExecutionQuanta's biggest challenge today is not demand but valuation. Despite trading below its 50-day moving average, the stock still commands a forward P/E multiple of 44.11X, substantially above the industry average of 29.8X. Such a premium reflects investor confidence that Quanta can sustain above-average earnings growth for several years.
Wall Street's optimism remains evident. The stock carries an Average Brokerage Recommendation (ABR) of 1.37, with 22 of the 27 analysts rating it a Strong Buy. Analysts' average price target of $808.00 also implies roughly 20% upside from current levels.
Image Source: Zacks Investment Research
Nevertheless, premium valuations leave little room for disappointment. Any slowdown in backlog growth, project execution or margin expansion could pressure the stock more than lower-valued peers.
Macro Risks Could Create Near-Term VolatilityAlthough Quanta's long-term outlook remains favorable, several external factors could influence future performance.
Large infrastructure projects are often subject to permitting delays, regulatory approvals, adverse weather, supply-chain disruptions and changing customer schedules. Inflation, tariffs, labor shortages and higher interest rates may also increase project costs or delay customer capital spending.
Management acknowledged that weather, permitting, regulatory issues, trade policy, supply-chain conditions and broader macroeconomic uncertainty remain important variables affecting project timing and financial performance, even as underlying demand remains robust.
How Quanta Stacks Up Against CompetitorsQuanta competes with EMCOR Group (EME - Free Report) , Sterling Infrastructure (STRL - Free Report) and Comfort Systems USA (FIX - Free Report) across several infrastructure and mission-critical construction markets.
From a share price perspective, Comfort Systems has delivered the strongest performance, with shares rising roughly 240% over the past year. Sterling Infrastructure follows closely with a gain of 215.9%, while Quanta has advanced 78.6%. Although Quanta has significantly outperformed EMCOR, whose shares have gained 45.5%, it has lagged the exceptional rallies posted by Comfort Systems and Sterling Infrastructure.
Valuation paints a different picture. EMCOR trades at the lowest forward P/E multiple of 25.27X, suggesting a more modest growth premium. Sterling Infrastructure trades at 31.76X, while Comfort Systems commands 37.37X. Quanta's forward P/E of 44.11X is the highest among the four companies, indicating that investors assign the greatest premium to Quanta's earnings visibility, diversified business model and long-term infrastructure opportunities.
Should Investors Buy PWR Stock Now?Quanta continues to execute at a high level. Record backlog, improving financial guidance, rising earnings estimates and strong demand across electric infrastructure, AI data centers and power generation provide a solid foundation for long-term growth. Management's investments in manufacturing capacity, supply-chain capabilities and integrated solutions further strengthen its competitive position for the coming decade.
However, the stock's premium valuation cannot be ignored. After nearly an 80% gain over the past year, investors are paying a substantial premium for Quanta's quality and growth prospects. While the business fundamentals continue to justify optimism, the current valuation reduces the margin of safety and makes flawless execution increasingly important.
Considering the company's attractive long-term outlook alongside its elevated valuation, the current Zacks Rank #3 (Hold) appears appropriate. Existing investors can remain confident in Quanta's multiyear growth story, while new investors may benefit from waiting for either a more attractive entry point or further earnings growth to better support the premium multiple. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Quanta i MasTec oznámily rekordní výsledky za 1. čtvrtletí, zvýšily celoroční výhled a hlásí rekordní backlog. Quanta má backlog 48,5 mld. USD a silnější dlouhodobou viditelnost, zatímco MasTec čeká rychlejší růst EPS v roce 2026.
Key Takeaways Quanta and MasTec posted record Q1 results, raised 2026 guidance and reported record backlogs.MasTec leads on near-term earnings growth, with 2026 EPS expected to rise 35.9% on 22.5% revenue growth.Quanta stands out for its $48.5B backlog, integrated model and more durable long-term visibility. The U.S. infrastructure spending cycle remains firmly intact, supported by accelerating investments in electric grid modernization, data centers, AI infrastructure, broadband expansion and energy projects. As utilities, hyperscalers and governments increase capital expenditures, engineering and construction companies with diversified capabilities are positioned to benefit from years of sustained demand. Quanta Services (PWR - Free Report) and MasTec (MTZ - Free Report) stand out as two of the industry's strongest players.
Both delivered exceptional first-quarter 2026 results, raised full-year guidance and highlighted record backlogs, reflecting robust customer demand across multiple end markets. Yet, despite serving similar markets, their growth strategies, profitability drivers and valuation profiles differ meaningfully.
Let's dive deep and closely compare the fundamentals of the two stocks to determine which one is a better investment now.
The Case for Quanta StockQuanta continues to strengthen its position as the premier provider of mission-critical infrastructure solutions by capitalizing on long-duration investments in electric transmission, grid modernization, renewable energy, communications, and rapidly expanding data center infrastructure. The company reported record first-quarter revenues of $7.87 billion, up 26% year over year, while adjusted earnings per share (EPS) jumped to $2.68 from $1.78. Total backlog reached an all-time high of $48.5 billion, providing excellent revenue visibility. Encouraged by strong execution and improving visibility, management raised substantially all full-year financial guidance.
Perhaps the biggest differentiator for Quanta is its integrated solutions model. Rather than serving only as an engineering contractor, the company increasingly provides customers with comprehensive infrastructure solutions, including engineering, procurement, manufacturing, fabrication, logistics and construction. This integrated approach has made Quanta an indispensable partner for utilities and hyperscale customers that require execution certainty on increasingly complex projects.
AI-driven electricity demand is emerging as another major growth catalyst. Management believes utilities could effectively double in size over time as power demand from AI data centers accelerates. To support this opportunity, Quanta is investing $500-$700 million to double transformer manufacturing capacity while significantly expanding its fabrication and supply-chain capabilities. The company believes these investments position it to benefit from an estimated $2.4 trillion addressable market through 2030.
Quanta also benefits from exceptional operational discipline. Management continues targeting 15%-20% annual adjusted EPS growth through 2030 while simultaneously expanding margins and maintaining an investment-grade balance sheet. The company's diversified exposure across electric infrastructure, communications, renewable energy and large-load facilities reduces dependence on any single end market.
Challenges remain. Quanta trades at a premium valuation, raising expectations for flawless execution. Large fixed-price infrastructure projects always carry execution risks, while permitting delays, supply-chain disruptions, labor shortages and higher project costs could affect project timing. Nevertheless, Quanta's scale, vertical integration and longstanding customer relationships help mitigate many of these risks.
The Case for MasTec StockMasTec has emerged as one of the fastest-growing infrastructure contractors, benefiting from accelerating investments across communications, power delivery, pipeline infrastructure and clean energy. First-quarter revenues surged 34% year over year to a record $3.83 billion, while adjusted EBITDA increased 73% and adjusted EPS jumped 174%. The company also reported a record 18-month backlog of $20.3 billion and raised its full-year 2026 guidance.
One of MasTec's biggest strengths is its broad exposure to multiple high-growth infrastructure themes. AI is boosting demand for data center construction, fiber connectivity and electric transmission simultaneously. Management highlighted growing opportunities in turnkey data center construction, utility transmission projects and telecom interconnectivity as AI workloads continue expanding. Power Delivery backlog reached record levels after posting a 1.6x book-to-bill ratio, while Clean Energy and Infrastructure backlog continued growing at an impressive pace.
Pipeline Infrastructure has become another important growth engine. Revenues nearly doubled year over year as growing LNG exports and rising natural gas-fired generation support long-term pipeline investments. Management also noted that project visibility remains stronger than reflected in the reported backlog because many awards are still under negotiation.
Operational execution has improved significantly as well. Margin expansion across Power Delivery, Pipeline Infrastructure and Clean Energy demonstrates improving project selection, better productivity and greater operating leverage. Customers increasingly prefer MasTec for alliance agreements, sole-source contracts and turnkey infrastructure delivery, strengthening future growth prospects.
However, MasTec faces its own challenges. Pipeline activity remains somewhat dependent on regulatory approvals and customer timing. Communications margins continue facing pressure from certain legacy businesses, while acquisitions and expansion into new markets create integration risks. Compared with Quanta, MasTec also has relatively greater exposure to project timing within pipeline and renewable energy markets, making quarterly results somewhat more cyclical.
PWR vs MTZ: Market Momentum Favors Both Infrastructure LeadersBoth stocks have dramatically outperformed the broader market in 2026. MasTec has gained an impressive 97.4% year to date (YTD), while Quanta has climbed 69.2%. These gains far exceed the Zacks Construction sector's 17.8% advance and the S&P 500's 7.3% rise, reflecting investors' confidence in AI-driven infrastructure spending.
PWR vs MTZ Price Performance (YTD)
Image Source: Zacks Investment Research
Among other infrastructure peers, Comfort Systems USA (FIX - Free Report) and EMCOR Group (EME - Free Report) have also benefited from data center and electrification investments, reinforcing the industry's favorable backdrop, gaining 108.8% and 33.1% YTD, respectively. However, MasTec's stronger share price appreciation suggests investors are rewarding its faster earnings acceleration, while Quanta continues attracting premium-quality investors because of its superior execution consistency and long-duration growth profile.
PWR vs MTZ: Premium Multiples Reflect Strong Growth ExpectationsNeither stock appears inexpensive. Quanta trades at 46.89X forward 12-month earnings, while MasTec trades at 41.03X. Both command substantial premiums over the Zacks Construction sector average of 22.22X.
PWR vs MTZ Valuation (P/E F12M)
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Compared with EMCOR (26.2X) and Comfort Systems (40.9X), both companies also trade at elevated valuations because investors expect sustained earnings growth from AI infrastructure, grid modernization and power demand.
Although MasTec offers the lower multiple, Quanta arguably deserves its premium due to its larger backlog, integrated business model, stronger balance sheet, expanding manufacturing capabilities and exceptional long-term visibility.
Earnings Revisions Continue Moving HigherAnalysts have become increasingly optimistic about both companies following their first-quarter results. Over the past 60 days, the Zacks Consensus Estimate for Quanta's 2026 EPS increased to $14.03 from $13.16. Earnings are expected to grow 30.5% on 22.1% revenue growth this year, followed by another 17.3% EPS increase on 12.5% revenue growth in 2027.
PWR EPS Estimate Revision
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MasTec's earnings revisions have also moved higher. The Zacks Consensus Estimate for 2026 EPS increased to $8.90 from $8.56 during the past 60 days, implying 35.9% annual growth on 22.5% revenue growth. For 2027, analysts expect another impressive 35.3% EPS increase alongside 11.1% revenue growth.
MasTec clearly enjoys the faster near-term earnings growth outlook. However, Quanta's earnings trajectory appears more balanced and supported by longer-duration opportunities, making its growth profile arguably more sustainable.
MTZ EPS Estimate Revision
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Which Stock Looks Like the Better Buy?Both companies remain exceptionally well-positioned to benefit from the multiyear infrastructure investment cycle fueled by AI, electrification, grid modernization and energy security. MasTec offers faster earnings growth, strong operational momentum and broader exposure to several rapidly expanding infrastructure markets. Its lower valuation also provides some relative appeal.
However, Quanta, sporting a Zacks Rank #1 (Strong Buy), stands out because of its unmatched execution capabilities, record $48.5 billion backlog, vertically integrated operating model, expanding manufacturing footprint and superior long-term visibility. Its investments in transformer manufacturing, fabrication capacity and integrated supply-chain solutions further strengthen its competitive advantage as customers increasingly prioritize execution certainty on complex infrastructure projects. MasTec currently carries a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank stocks here.
Overall, Quanta appears better positioned to deliver more durable long-term shareholder returns, making it the more attractive infrastructure stock for investors seeking a combination of growth, execution consistency and earnings visibility.
Quanta Services plánuje investovat 500–700 milionů USD do rozšíření kapacity transformátorů a výrobní stopy. Firma zároveň oznámila rekordní backlog 48,5 miliardy USD.
Key Takeaways PWR is expanding beyond construction to support utilities across engineering, manufacturing and supply chains.PWR plans to invest $500-$700 million to expand transformer capacity and manufacturing footprint.Quanta ended Q1 with a record $48.5 billion backlog, strengthening multiyear revenue visibility. Quanta Services, Inc. (PWR - Free Report) is increasingly aligning its business with one of the largest infrastructure opportunities in North America as utilities modernize aging power grids to meet rising electricity demand. The expansion of artificial intelligence, data centers, advanced manufacturing and electrification is placing greater pressure on transmission networks, making grid upgrades a long-term investment priority. This creates a favorable backdrop for companies with the expertise and scale to deliver complex infrastructure projects.
Grid modernization is becoming a key growth driver for Quanta because it has expanded well beyond traditional construction services. PWR now supports customers across engineering, procurement, construction, manufacturing and supply-chain solutions, allowing utilities to execute larger and more complex capital programs with greater certainty. The company is also working alongside customers much earlier in the planning process, strengthening its role in multiyear infrastructure investments.
Quanta is reinforcing this position through targeted manufacturing investments. The company plans to invest $500-$700 million over the next several years to double the power transformer manufacturing capacity while nearly doubling its off-site manufacturing, fabrication and logistics footprint to approximately 6.7 million square feet. These investments are designed to reduce equipment constraints, improve project execution and accelerate grid expansion as transmission demand grows.
The strategy is already translating into greater project visibility. Quanta ended the first quarter with a record backlog of $48.5 billion, up from $35.3 billion a year ago, including a 12-month backlog of $28.2 billion, up 45.4%, reinforcing strong multiyear revenue visibility. With utilities expected to invest heavily in transmission infrastructure for years to come, grid modernization has the potential to become one of Quanta's most durable long-term growth drivers.
How Does Quanta Compare With Infrastructure Peers?Quanta has established a leading position in North America's power infrastructure market, benefiting from growing investments in grid modernization, transmission expansion and electrification. As investors assess whether the company can sustain the long-term growth, comparisons with EMCOR Group, Inc. (EME - Free Report) and MasTec, Inc. (MTZ - Free Report) highlight its differentiated exposure to the evolving utility infrastructure landscape.
EMCOR is also benefiting from robust demand across electrical and mechanical construction, supported by data centers, manufacturing, health care and institutional projects. The company ended the first quarter with remaining performance obligations of $15.62 billion, reflecting strong project visibility. However, its growth remains more closely tied to building construction and facility-related services than utility transmission infrastructure.
MasTec is a closer peer, with exposure to power delivery, telecom, clean energy, pipeline and data center infrastructure. The company reported a record backlog of $20.3 billion and continues to benefit from investments in grid reliability, transmission expansion and AI-driven electricity demand. However, Quanta's integrated solutions platform, manufacturing investments and larger $48.5 billion backlog position it to capture a broader share of North America's multiyear grid modernization opportunity.
PWR’s Price Performance, Valuation & EstimatesPWR stock has surged 70.2% in the year-to-date (“YTD”) period, outperforming the Zacks Engineering - R and D Services industry, the broader Construction sector and the S&P 500 index.
PWR YTD Share Price Performance
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From a valuation standpoint, PWR trades at a forward 12-month price-to-earnings ratio of 47.53X, well above the industry’s 32.03X, as shown below.
PWR Valuation
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Quanta’s earnings estimates for 2026 and 2027 have decreased in the past 30 days. However, the revised estimates for 2026 and 2027 imply year-over-year growth of 30.5% and 17.3%, respectively.
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PWR’s Zacks RankQuanta currently flaunts a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
Dycom v 1. čtvrtletí fiskálního roku 2027 zvýšil tržby o 56,1 % a backlog dosáhl rekordních 11,9 miliardy USD. Firma tak podle článku působí lépe než Quanta díky rychlejšímu růstu a nižšímu ocenění.
Key Takeaways Dycom posted 56.1% revenue growth and a record $11.9 billion backlog in fiscal Q1 2027.Quanta reported 26.3% revenue growth and a record $48.5 billion backlog in first-quarter 2026.Dycom is highlighted for faster growth, rising EPS estimates and a lower valuation than Quanta. The U.S. digital infrastructure landscape continues to benefit from rising demand for connectivity, fiber expansion, data center development and broader network modernization initiatives. As customers pursue larger and more complex infrastructure programs, the need for execution certainty, skilled labor, integrated solutions and long-term project delivery capabilities has become increasingly important. Within this backdrop, Dycom Industries, Inc. (DY - Free Report) and Quanta Services, Inc. (PWR - Free Report) have emerged as two well-positioned infrastructure companies, each benefiting from expanding project pipelines, deep customer relationships and growing opportunities tied to digital infrastructure investment, communications networks and mission-critical development.
While Dycom is focused on fiber infrastructure, network deployment and building systems that connect businesses, communities and data centers, Quanta leverages its integrated solutions model, craft workforce and supply-chain capabilities to support utility, communications and large-load infrastructure projects. Both companies continue to emphasize workforce development, disciplined execution, scalability and their ability to serve as strategic partners on multi-year capital programs, positioning them to capitalize on durable infrastructure spending trends and increasing demand across converging end markets.
Let's dive deep and closely compare the fundamentals of the two stocks to determine which one is a better investment now.
The Case for Dycom StockThis North America-based specialty contracting firm is benefiting from strong demand across fiber infrastructure, digital infrastructure and data center-related markets. In the first quarter of fiscal 2027, contract revenues increased 56.1% year over year as the company capitalized on expanding fiber-to-the-home deployments, long-haul and middle-mile fiber builds, and growing activity across its Building Systems segment. The company also reported record backlog levels, providing greater visibility into future work and reinforcing confidence in the durability of current demand trends.
In the first quarter of fiscal 2027, total backlog reached a record $11.9 billion, up 46.5% year over year and 25% sequentially. The company noted that awards continued to diversify across customers, geographies and demand drivers, while some customers extended contract durations to secure access to skilled labor. These longer-term commitments support workforce planning, investment decisions and the execution of multi-year infrastructure programs. Communications revenues grew 24.7% organically during the quarter, supported primarily by fiber-to-the-home activity as well as increasing long-haul and middle-mile opportunities.
However, sustaining this growth requires continued investment in workforce expansion, operational scaling and strategic acquisitions. The company is also dependent on the pace of customer deployments and project timing across large infrastructure programs, while portions of the long-haul fiber opportunity and BEAD-related activity are still in relatively early stages of development.
The company continues to broaden its digital infrastructure platform through Power Solutions and the planned acquisition of National Technology Integrators, creating a more comprehensive offering spanning electrical infrastructure, structured cabling and fiber connectivity. Combined with expanding data center activity, increasing cross-selling opportunities and the expected progression of BEAD-funded projects, Dycom appears well positioned to capitalize on growing infrastructure investment and evolving connectivity requirements across the United States.
The Case for Quanta StockThis infrastructure solutions provider is benefiting from rising investment across utility, power, communications and large-load infrastructure markets. The company’s diversified business model, integrated solutions approach and expanding role in mission-critical infrastructure projects continue to support strong demand. In the first quarter of 2026, revenues increased 26.3% year over year, while record backlog levels reflected growing customer commitments and increasing visibility into future capital programs.
Demand visibility remains one of Quanta’s biggest strengths. The company ended the first quarter with a record backlog of $48.5 billion, up from $35.3 billion a year ago, including a 12-month backlog of $28.2 billion, up 45.4%. The company emphasized that utilities, technology customers and large-load developers continue to pursue multi-year infrastructure investments, creating opportunities across transmission, generation, communications and data center-related projects. Investments in craft workforce development, fabrication capabilities and supply-chain solutions are further strengthening its ability to deliver execution certainty and support customers at scale.
However, some of the company’s largest opportunities remain tied to long-cycle infrastructure projects that can be influenced by permitting timelines, contract negotiations, interconnection processes and broader regulatory developments. Quanta also continues to invest heavily in manufacturing capacity, supply-chain initiatives and operational expansion to support future demand, which requires disciplined execution across a rapidly growing project portfolio.
The company continues to see strong momentum across transmission infrastructure, generation projects, data centers and technology-driven load growth. Expanding relationships with utilities and large customers, growing demand for integrated infrastructure solutions and increasing opportunities tied to electrification, grid modernization and digital infrastructure position Quanta to benefit from durable infrastructure spending trends over the coming years.
Stock Performance & ValuationBoth stocks have significantly outperformed the broader market in 2026. Quanta has surged 75.4% year to date, substantially outperforming Dycom’s still-impressive 38.5% gain. Both have also comfortably exceeded the Zacks Construction sector's 17.9% advance and the S&P 500's 8.9% rise.
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Valuation Reflects Different Growth ProfilesQuanta commands a notably higher valuation than Dycom, trading at 49.02X forward 12-month earnings compared with the latter's 26.97X. While both stocks trade above the Construction sector average of 22.01X, investors are assigning a substantial premium to Quanta's exposure to utility infrastructure, grid modernization, power generation and large-scale electrification projects.
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Meanwhile, Dycom trades at a more modest multiple despite benefiting from strong demand across fiber infrastructure, digital infrastructure and data center-related markets. As a result, investors must weigh whether Quanta's broader infrastructure platform and long-duration growth opportunities justify its premium valuation or whether Dycom offers a more attractive risk-reward profile at current levels.
Comparing EPS Estimate Trends of DY & PWRThe Zacks Consensus Estimate for Dycom’s fiscal 2027 earnings per share has increased to $16.01 in the past 30 days, as shown below. The revised estimates for fiscal 2027 imply year-over-year growth of 33.8%.
DY’s EPS Trend
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PWR’s earnings estimates for 2026 have decreased in the past 30 days to $13.96 per share. This indicates expected earnings growth of 29.9% year over year.
PWR’s EPS Trend
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Dycom vs. Quanta: Which Stock Looks Better Positioned?Both companies are benefiting from powerful long-term infrastructure trends and continue to execute at a high level. Quanta offers unmatched scale, a diversified infrastructure platform, record backlog levels and significant opportunities tied to electrification, grid modernization and large-load development. Its integrated solutions model and deep customer relationships provide substantial visibility into growth.
However, Dycom appears to offer the more compelling investment case today. The company is delivering faster revenue growth, stronger earnings momentum and accelerating demand across fiber infrastructure, digital infrastructure and data center-related markets. Record backlog levels, expanding Building Systems capabilities and growing opportunities tied to long-haul fiber and BEAD-funded projects further strengthen its growth outlook.
Importantly, Dycom's growth profile comes at a considerably lower valuation. While Quanta trades at a significant premium reflecting its broader infrastructure exposure, Dycom combines robust backlog growth, rising earnings expectations and multiple long-term growth drivers at a more attractive earnings multiple.
Both DY and PWR currently sport a Zacks Rank #1 (Strong Buy). However, for investors seeking the best combination of growth, earnings momentum and valuation, Dycom appears better positioned to deliver superior risk-adjusted returns at current levels. You can see the complete list of today’s Zacks #1 Rank stocks here.
