Track market-moving stories before they get noisy

Let me be clear up front: GE Vernova (GEV 0.03%) is a terrific business. Its power-generation and grid equipment sit at the heart of the electrification boom, and its record backlog is real. But the stock has become overvalued, and I am officially sounding the alarm. If you want exposure to the same powerful trend without the sky-high risk, I would buy Quanta Services (PWR +1.05%) instead.

Why I'm alarmed on GE Vernova Here's the specific problem: the price. GE Vernova trades near $1,071 a share (as of July 20), and against the average analyst forecast for 2027 earnings of about $24.40 per share, that works out to roughly 44 times forward earnings. The stock has soared more than 60% this year alone, and that kind of run leaves a valuation priced for perfection. When expectations get that stretched, even good news can fail to move the stock, while any disappointment tends to hit hard.

Image source: Getty Images.

And there's a concrete reason disappointment is a real risk. GE Vernova's headline number is its enormous order backlog, but a backlog is only a promise until it converts into actual revenue. That conversion is running into genuine obstacles: The U.S. electric grid is congested and slow to upgrade, supply chains for heavy power equipment are bottlenecked, and building and connecting new capacity takes years. If those data center and grid projects slip, or if artificial intelligence (AI)-driven power demand cools even slightly, the revenue the market is counting on could arrive later and messier than expected. At 44 times earnings, the market is already assuming years of flawless execution, which leaves very little cushion. There is simply very little buffer if anything goes wrong.

To be fair, GE Vernova could keep climbing if the build-out stays red-hot. I'm not saying the business is broken. I am saying the risk-reward at this price is badly skewed against new buyers.

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What to buy instead: Quanta Services Quanta Services offers a smarter way to play the identical trend. It's the picks-and-shovels company of electrification, providing the crews, transmission lines, substations, and interconnections that physically link power plants and data centers to the grid. Put simply, you can't deploy all of GE Vernova's turbines without a company like Quanta to wire everything together.

The setup is compelling. Quanta carries a record backlog of its own, near $48.5 billion, and management frames its opportunity as a $2.4 trillion addressable market through the end of the decade. It also owns a rare competitive edge: It trains its own skilled workers through its line worker schools, which matters enormously when labor is the true bottleneck in the entire build-out. At about $630 a share and a 2027 earnings forecast near $16.50, Quanta trades at roughly 38 times forward earnings. That is cheaper than GE Vernova, which means you're paying a more reasonable price for a business that's just as essential to the electrification story.

Quanta isn't risk-free either. Labor shortages could cap its growth, big projects can be delayed, and its stock isn't exactly cheap after its own strong run.

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The takeaway for investors Both companies win if electricity demand keeps surging, so this is not a bet against the theme. It is a bet on risk and reward at today's prices. GE Vernova is a great business whose stock has gotten ahead of itself, while Quanta Services offers the same tailwind at a somewhat lower multiple, with recurring revenue and a genuine labor moat. My honest advice is to resist chasing GE Vernova here and favor the grid builder that makes the whole boom possible.

Another underappreciated detail: A large share of Quanta's work comes through recurring master service agreements rather than one-off projects, giving it steadier, more predictable revenue than a typical contractor. It's also become one of the largest builders of renewable-energy infrastructure, from solar farms to battery storage, so it profits no matter which type of power generation wins.

Quanta Services, Inc. PWR is strengthening its competitive position by focusing on execution certainty as customers undertake increasingly large and complex infrastructure projects. Utilities are expanding capital programs to meet growing electricity demand, while technology customers require faster project delivery at scale.

BTQ and TIDAL PWR to develop a repeatable architecture for quantum-enabled data centers, trusted supply chains, procurement standards, and secure deployment models for large-scale AI and advanced computing infrastructure

, /PRNewswire/ -- BTQ Technologies Corp. ("BTQ" or the "Company") (Nasdaq: BTQ) (CBOE CA: BTQ), a global technology company building the trust infrastructure for the quantum era, is pleased to announce a strategic collaboration with TIDAL PWR, a Texas-based developer of power generation and data center infrastructure for AI and advanced computing.

TIDAL PWR is focused on one of the most important constraints in AI infrastructure: reliable power and scalable data center buildout. As AI, high-performance computing, and quantum systems begin to converge around the same facilities, BTQ believes data center operators will need a clearer framework for deciding what to deploy, how to secure it, which vendors and devices to trust, and how to prepare facilities for quantum systems without treating quantum as an open-ended research project.

The collaboration is intended to develop a trusted quantum data center reference architecture that can be applied across future large-scale facilities. The initial scope is expected to include quantum data center design principles, trusted supply chain requirements, vendor and device procurement standards, post-quantum cryptographic security considerations, and a repeatable deployment model for facilities seeking to integrate quantum systems into AI, high-performance computing, and enterprise data center environments.

For BTQ, Building Trusted Quantum Technologies means helping operators move from interest in quantum to practical deployment. In the context of data centers, that means answering the operational questions that sit between research and real infrastructure: what systems should be deployed, how they should be secured, which vendors and devices can be trusted, how procurement standards should be written, and how quantum infrastructure can be built into facilities with defined technical and commercial outcomes.

"Building trusted quantum infrastructure is not just about the technology itself. It is about giving operators a clear path to deploy it," said Olivier Roussy Newton, CEO of BTQ Technologies. "TIDAL PWR is focused on one of the most important constraints in AI infrastructure: reliable power and data center buildout. By combining that focus with BTQ's work across post-quantum security, quantum systems architecture, and trusted deployment models, we believe there is an opportunity to help define what a quantum data center should look like before the market standard is set."

The collaboration is expected to focus on several workstreams, including:

A trusted quantum data center reference architecture for AI, HPC, and future quantum workloads A technical roadmap for integrating quantum systems into large-scale data center facilities Procurement standards for devices, chips, and infrastructure components that may require post-quantum security or crypto-agile design Supply chain and vendor assessment criteria for trusted quantum infrastructure Security frameworks for protecting AI workloads, model weights, training systems, inference traffic, enterprise data, and privileged access A repeatable deployment model for hyperscale, enterprise, and managed service provider customers "TIDAL PWR is building power and data center infrastructure for the next wave of AI demand, and we see quantum as a natural extension of where advanced computing is going," said Chad Swensen, President and CEO of TIDAL PWR. "BTQ brings a practical framework for trusted quantum deployment, from security and procurement to architecture and vendor alignment. We believe this collaboration can help position TIDAL PWR among the first infrastructure developers planning for the quantum requirements of future data centers."

BTQ's role is expected to center on solutions architecture, post-quantum security guidance, trusted procurement frameworks, and vendor mapping across the quantum infrastructure stack. The objective is to create a practical blueprint that data center operators can use to evaluate, procure, secure, and deploy quantum-related infrastructure with defined technical and commercial outcomes.

"Quantum, AI, and data center infrastructure are moving toward the same physical footprint," added Roussy Newton. "The companies that build the data centers will need a trusted way to decide what to deploy, what to secure, what to buy, and how to make those systems useful. That is what Building Trusted Quantum Technologies means in practice."

The parties intend to begin with an initial planning and architecture track, with the potential to expand the relationship into deeper technical, commercial, and project-specific opportunities.

About TIDAL PWR
TIDAL PWR is developing power generation and data center infrastructure to support the growing demands of AI and advanced computing. Based in Texas, TIDAL PWR focuses on reliable, scalable power infrastructure for large-scale data center deployment.

For more information, visit www.tidalpwr.com.

About BTQ
BTQ Technologies Corp. (Nasdaq: BTQ | Cboe CA: BTQ) is a quantum technology company focused on accelerating the transition from classical networks to the quantum internet. Backed by a broad patent portfolio and deep technical expertise, BTQ is developing a full-stack, neutral-atom quantum computing platform spanning hardware, middleware, and post-quantum security solutions for finance, telecommunications, logistics, life sciences, and defense.

Connect with BTQ: Website | LinkedIn | X/Twitter

ON BEHALF OF THE BOARD OF DIRECTORS
Olivier Roussy Newton
CEO, Chairman

Neither Cboe Canada nor its Regulation Services Provider accepts responsibility for the adequacy or accuracy of this release.

Forward Looking Information

Certain statements herein contain forward-looking statements and forward-looking information within the meaning of applicable securities laws. Such forward-looking statements or information include but are not limited to statements or information with respect to: the Company's strategic collaboration with TIDAL PWR including the anticipated scope, focus, workstreams, objectives, deliverables, results and potential expansion thereof; the future needs and requirements of data center operators, customers and capital markets in respect of AI, high-performance computing, advanced computing and quantum-enabled infrastructure; the potential integration of quantum systems into AI, high-performance computing, enterprise and other data center environments; the business plans of TIDAL PWR; Building Trusted Quantum Technologies; the future of AI, data centers, AI infrastructure, advanced computing, and quantum technologies; the business plans of the Company, including with respect to its research partnerships, and anticipated markets in which the Company may be listing its common shares. Forward-looking statements or information often can be identified by the use of words such as "anticipate", "intend", "expect", "plan" or "may" and the variations of these words are intended to identify forward-looking statements and information.

The Company has made numerous assumptions including among other things, assumptions about general business and economic conditions, the development of post-quantum algorithms and quantum vulnerabilities, the continued development and adoption of AI, high-performance computing, advanced computing and quantum technologies; the future demand for reliable power, scalable data center infrastructure, trusted procurement standards, post-quantum security solutions and quantum-enabled deployment models; the ability of BTQ and TIDAL PWR to identify and develop appropriate technical architectures, standards, frameworks and commercial opportunities; the availability of necessary technical, commercial, financial and other resources; and the continued interest of data center operators, customers, vendors and capital markets participants in quantum-enabled data center infrastructure, and the AI, data center, and quantum computing industry generally. The foregoing list of assumptions is not exhaustive.

Although management of the Company believes that the assumptions made and the expectations represented by such statements or information are reasonable, there can be no assurance that forward-looking statements or information herein will prove to be accurate. Forward-looking statements and information are based on assumptions and involve known and unknown risks which may cause actual results to be materially different from any future results, expressed or implied, by such forward-looking statements or information. These factors include risks relating to: TIDAL PWR; the AI and data center industries; risks that the collaboration may not result in the development of any reference architecture, technical roadmap, procurement standard, security framework, deployment model, commercial opportunity or project-specific opportunity; that the parties may not expand the relationship beyond the initial planning and architecture track; that anticipated customer, data center operator, vendor or capital markets demand for quantum-enabled infrastructure may not develop as expected or at all; that AI, high-performance computing, advanced computing and quantum technologies may not converge in the manner or within the timelines currently anticipated; that technical, commercial, financing, regulatory, market or operational challenges may delay, limit or prevent the implementation of the contemplated workstreams; and that any anticipated technical, commercial, strategic or market benefits may not be realized; the availability of financing for the Company; business and economic conditions in the post-quantum and encryption computing industries generally; the speculative nature of the Company's research and development programs; the supply and demand for labour and technological post-quantum and encryption technology; unanticipated events related to regulatory and licensing matters and environmental matters; changes in general economic conditions or conditions in the financial markets; changes in laws (including regulations respecting blockchains); risks related to the direct and indirect impact of COVID-19 including, but not limited to, its impact on general economic conditions, the ability to obtain financing as required, and causing potential delays to research and development activities; and other risk factors as detailed from time to time. The Company does not undertake to update any forward-looking information, except in accordance with applicable securities laws.

SOURCE BTQ Technologies Corp.

Key Takeaways EMCOR emerges as the better buy on valuation, profitability, execution and earnings momentum.EMCOR trades at 24.01X forward earnings and posts a 27.62% ROIC, outperforming key peers.Record obligations of $15.62B and raised guidance provide EMCOR with strong revenue visibility. AI infrastructure, grid modernization and critical infrastructure investments continue to create significant opportunities for engineering and specialty contractors. Quanta Services (PWR - Free Report) and EMCOR Group (EME - Free Report) have emerged as key beneficiaries, with record backlogs, healthy project pipelines and improved full-year outlooks supporting their growth prospects.

While Quanta has built its leadership around electric transmission, utility infrastructure and integrated energy solutions, EMCOR has established itself as a premier mechanical and electrical contractor serving data centers, healthcare, manufacturing and commercial facilities.

While both companies are benefiting from the same long-term infrastructure trends, they differ in business mix, growth outlook, profitability and valuation. 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 has built one of the strongest franchises in North American energy infrastructure. Its operations span electric transmission and distribution, renewable energy integration, communications networks, underground utility infrastructure and pipeline services. More recently, the company has expanded its role in supporting AI data centers and advanced manufacturing projects, positioning itself at the center of several powerful infrastructure trends.

The company's long-term growth outlook remains attractive. Utilities continue investing heavily to modernize aging electric grids, improve system reliability and connect renewable generation. At the same time, accelerating investments in AI infrastructure are creating new opportunities across substations, transmission, power generation and data center-related electrical work.

Quanta also differentiates itself through its integrated solutions model. Rather than acting solely as a contractor, it provides engineering, design, fabrication, logistics and supply-chain capabilities. The company is investing $500-$700 million to expand transformer manufacturing and nearly double its fabrication footprint, helping customers overcome supply bottlenecks while strengthening its competitive position. Management believes these investments, combined with its skilled workforce, provide the execution certainty customers increasingly demand on large, complex projects.

The financial outlook remains equally encouraging. Following stronger-than-expected execution, Quanta raised its 2026 guidance and now expects revenues of $34.7-$35.2 billion and adjusted EPS of $13.55-$14.25. The company also exited the latest quarter with a record backlog of $48.5 billion, providing excellent revenue visibility over the coming years.

However, Quanta's premium valuation leaves less room for execution missteps. The company remains exposed to permitting delays, weather disruptions, labor availability and project timing on large utility programs. Management also continues to monitor macroeconomic uncertainty, trade policy changes and supply-chain risks, even though customer demand remains healthy.

Overall, Quanta offers one of the industry's strongest long-term growth platforms, supported by its unmatched exposure to electrification, utility modernization and AI-driven infrastructure investment.

The Case for EMCOR StockEMCOR has established itself as one of the leading specialty construction companies in the United States through its expertise in mechanical and electrical construction, industrial services and building services. Its diversified operations serve high-growth end markets, including AI data centers, semiconductor manufacturing, healthcare, institutional facilities and water infrastructure.

The company's biggest strength is its diversified business model. While data centers remain its fastest-growing vertical, EMCOR also generates meaningful revenues from manufacturing, healthcare, institutional buildings, commercial facilities and industrial projects. This broad exposure reduces dependence on any single market while allowing the company to benefit from multiple infrastructure investment themes simultaneously.

AI-related infrastructure continues to provide a significant tailwind. Management noted that demand for data centers remains exceptionally strong as cloud computing, artificial intelligence and digital transformation continue driving customer investments. EMCOR is also benefiting from rising cooling requirements, liquid cooling systems and increasingly sophisticated mechanical installations associated with next-generation AI facilities. Meanwhile, growth across healthcare, water and wastewater, manufacturing and institutional construction continues supporting record project bookings.

Execution remains another major strength. EMCOR continues to leverage prefabrication, virtual design capabilities, disciplined project selection and efficient labor management to deliver healthy margins. Record remaining performance obligations of $15.62 billion provide strong revenue visibility, while management raised full-year guidance to revenues of $18.5-$19.25 billion and EPS of $28.25-$29.75.

The primary risks relate to project mix and broader industry conditions. Mechanical construction margins could fluctuate as larger data center projects account for a greater share of revenues. The company also faces labor shortages, inflation, tariffs and supply-chain disruptions that could pressure project costs and execution.

Nevertheless, EMCOR combines diversified growth drivers, consistent execution and strong financial discipline, making it one of the highest-quality companies in the specialty construction industry.

PWR vs EME: Price Performance Depicts Solid Industry MomentumInfrastructure-related stocks have significantly outperformed the broader market in 2026 as investors continue rewarding companies exposed to AI infrastructure, grid modernization and industrial construction.

Quanta shares have gained 49.5% year to date (YTD), while EMCOR has advanced 22.6%. Both have comfortably outperformed the Zacks Construction sector's 11% return and the S&P 500's 10.9% gain.

PWR vs. EME Price Performance (YTD)

Image Source: Zacks Investment Research

Among peers, Sterling Infrastructure (STRL - Free Report) has been the standout performer with a 109.4% YTD rally, driven by exceptional growth in data center and advanced manufacturing projects. Comfort Systems USA (FIX - Free Report) has also climbed 80.1% this year, benefiting from robust demand for mechanical and electrical construction services. Although Quanta has delivered a stronger stock performance than EMCOR in 2026, both remain well-positioned to benefit from favorable long-term infrastructure spending.

Valuation and Capital Efficiency Favor EMCORValuation paints a noticeably different picture. Quanta trades at 41.08X forward 12-month earnings, making it the most expensive stock among this peer group. FIX stock trades at 34.84X, while STRL stock trades at 28.18X. EMCOR trades at just 24.01X, only modestly above the Zacks Construction sector average of 20.83X.

PWR vs. EME Valuation (P/E F12M)

Image Source: Zacks Investment Research

Quanta's premium valuation reflects its leadership in utility infrastructure, electrification and long-term earnings potential. However, much of that optimism already appears priced into the stock. By comparison, EMCOR offers investors exposure to many of the same secular growth drivers, including AI data centers, advanced manufacturing and mission-critical infrastructure, at a significantly lower earnings multiple. Even relative to FIX and STRL, EMCOR remains the most attractively valued among high-quality infrastructure contractors.

Profitability further strengthens EMCOR's investment case. Despite trading at the lowest valuation multiple among the four companies, EMCOR generates the highest return on invested capital (ROIC). Its current ROIC of 27.62% is more than double Quanta's 11.43% and also reflects consistently strong capital efficiency over the past several quarters. Quanta's ROIC has improved steadily from around 9.75% in late 2023 to its current level, indicating that its long-term investments are beginning to generate better returns. However, EMCOR continues to produce substantially higher profits for every dollar of capital invested. The combination of a lower valuation and superior capital efficiency gives EMCOR a clear edge from a quality-adjusted valuation perspective.

PWR vs EME ROIC (TTM%)

Image Source: Zacks Investment Research

Earnings Estimate Trends Favor EMCORAnalysts' estimate revisions remain constructive for both companies, although EMCOR currently enjoys stronger momentum.

Over the past 60 days, the Zacks Consensus Estimate for Quanta's 2026 EPS has edged down to $14.03, while the 2027 estimate has increased to $16.49. Analysts currently project 30.5% EPS growth on 22% revenue growth in 2026, followed by 17.5% EPS growth and 13% revenue growth in 2027.

PWR Estimate Revision Trend

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Meanwhile, analysts have raised EMCOR's 2026 and 2027 EPS estimates to $29.37 and $32.83, respectively, during the same period. Current estimates call for 13.5% EPS growth on 12% revenue growth in 2026, followed by 11.8% EPS growth on 7.8% revenue growth in 2027.

EME Estimate Revision Trend

Image Source: Zacks Investment Research

Although Quanta is expected to deliver faster long-term earnings growth, EMCOR's positive estimate revisions indicate improving analyst confidence and stronger near-term earnings momentum.

Which Stock Is a Buy Now?Quanta and EMCOR are both high-quality infrastructure companies benefiting from long-term investment in AI data centers, grid modernization, electrification and advanced manufacturing. Quanta offers unmatched exposure to electric infrastructure and arguably the stronger long-term growth runway, supported by a record backlog and continued investment in integrated solutions and supply-chain capabilities.

However, EMCOR stands out as the better investment today. The company combines diversified exposure to multiple high-growth infrastructure markets with consistent execution, record project visibility, rising earnings estimates and a substantially more attractive valuation. Its significantly higher return on invested capital further demonstrates superior capital allocation and operating efficiency.

This advantage is also reflected in the Zacks Rank. EMCOR currently sports a Zacks Rank #1 (Strong Buy), while Quanta carries a Zacks Rank #3 (Hold). Given its compelling combination of reasonable valuation, stronger profitability, positive estimate revisions and solid execution, EMCOR appears to offer better upside potential for investors at current levels. You can see the complete list of today’s Zacks #1 Rank stocks here.

AI spending by U.S. hyperscalers could reach $1 trillion in 2027, according to S&P Global. That spending spree would squeeze the margins of top hyperscalers, but it would also generate strong tailwinds for many industrial companies. Let's take a closer look at two industrial stocks that could soar much higher as the AI market expands: Vertiv Holdings (VRT 0.74%) and Quanta Services (PWR +2.26%).

Image source: Getty Images.

Vertiv Holdings Vertiv provides thermal management, liquid cooling, and uninterruptible power supply (UPS) systems. It's also partnered with Nvidia (NVDA +4.08%) to co-develop 800-volt DC power architectures for the chipmaker's top-tier GPUs.

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Nvidia's latest AI chips consume so much power and run so hot that data centers must upgrade their infrastructure with Vertiv's products to stay online. That's why its revenue more than doubled from $5.0 billion in 2021 to $10.2 billion in 2025. Its adjusted earnings before interest, taxes, depreciation, and amortization (EBITDA) more than tripled from $698 million to $2.2 billion.

Vertiv's backlog more than doubled year over year to $15 billion at the end of 2025, and it's still expanding its global manufacturing facilities to meet that demand.

From 2025 to 2028, analysts expect Vertiv's revenue and adjusted EBITDA to grow at CAGRs of 28% and 38%, respectively. With an enterprise value of $117 billion, it isn't a bargain at 34 times this year's adjusted EBITDA -- but it remains one of the best industrial plays on the AI boom.

Quanta Services Quanta builds high-voltage transmission lines, substations, renewable energy facilities, and data center power systems for utilities and energy companies. It expanded by acquiring more than 200 companies across North America and Australia over the past three decades.

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From 2021 to 2025, its year-end backlog more than doubled from $19.3 billion to $44 billion. Most of that growth was driven by the rapid expansion of the power-hungry cloud infrastructure and AI markets.

That revolution is forcing many utilities in the United States to upgrade their aging electrical grids and build new infrastructure for transmitting wind and solar energy.

From 2025 to 2028, analysts expect Quanta's revenue and adjusted EBITDA to grow at CAGRs of 17% and 19%, respectively, as it transmits more power to those data centers. With an enterprise value of $103 billion, it still looks reasonably valued at 29 times this year's adjusted EBITDA. So if you're looking for a simple way to profit from the soaring energy demands of the AI market, Quanta checks all the right boxes.

Leo Sun has no position in any of the stocks mentioned. The Motley Fool has positions in and recommends Nvidia, Quanta Services, S&P Global, and Vertiv. The Motley Fool has a disclosure policy.

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 Services Announces Second Quarter 2026 Earnings Release and Webcast Schedule PR Newswire HOUSTON, July 10,

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.

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)

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PWR's Technical Trend

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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

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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.

In the latest trading session, Quanta Services (PWR - Free Report) closed at $691.40, marking a -3.98% move from the previous day. The stock's change was less than the S&P 500's daily loss of 0.22%. Meanwhile, the Dow lost 0.03%, and the Nasdaq, a tech-heavy index, lost 0.66%.

The specialty contractor for utility and energy companies's stock has climbed by 1.98% in the past month, falling short of the Construction sector's gain of 5.89% and outpacing the S&P 500's loss of 1.21%.

The upcoming earnings release of Quanta Services will be of great interest to investors. On that day, Quanta Services is projected to report earnings of $3.29 per share, which would represent year-over-year growth of 32.66%. Our most recent consensus estimate is calling for quarterly revenue of $8.53 billion, up 25.87% from the year-ago period.

For the entire fiscal year, the Zacks Consensus Estimates are projecting earnings of $14.03 per share and a revenue of $34.77 billion, representing changes of +30.51% and +22.07%, respectively, from the prior year.

Investors should also note any recent changes to analyst estimates for Quanta Services. Such recent modifications usually signify the changing landscape of near-term business trends. Therefore, positive revisions in estimates convey analysts' confidence in the business performance and profit potential.

Our research shows that these estimate changes are directly correlated with near-term stock prices. To take advantage of this, we've established the Zacks Rank, an exclusive model that considers these estimated changes and delivers an operational rating system.

The Zacks Rank system, ranging from #1 (Strong Buy) to #5 (Strong Sell), possesses a remarkable history of outdoing, externally audited, with #1 stocks returning an average annual gain of +25% since 1988. The Zacks Consensus EPS estimate remained stagnant within the past month. Right now, Quanta Services possesses a Zacks Rank of #2 (Buy).

In the context of valuation, Quanta Services is at present trading with a Forward P/E ratio of 51.31. This indicates a premium in contrast to its industry's Forward P/E of 38.44.

Also, we should mention that PWR has a PEG ratio of 2.59. This popular metric is similar to the widely-known P/E ratio, with the difference being that the PEG ratio also takes into account the company's expected earnings growth rate. As the market closed yesterday, the Engineering - R and D Services industry was having an average PEG ratio of 2.05.

The Engineering - R and D Services industry is part of the Construction sector. At present, this industry carries a Zacks Industry Rank of 159, placing it within the bottom 36% of over 250 industries.

The Zacks Industry Rank assesses the strength of our separate industry groups by calculating the average Zacks Rank of the individual stocks contained within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.

Keep in mind to rely on Zacks.com to watch all these stock-impacting metrics, and more, in the succeeding trading sessions.

Quanta Services, Inc. PWR is significantly increasing capital investments to capitalize on one of the strongest infrastructure spending cycles in decades. While its aggressive capital expenditure strategy may pressure near-term cash flows, it could also strengthen its competitive position for years to come.

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)

Image Source: Zacks Investment Research

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

Image Source: Zacks Investment Research

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

Image Source: Zacks Investment Research

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.

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
Image Source: Zacks Investment Research

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
Image Source: Zacks Investment Research

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.

Image Source: Zacks Investment Research

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.

On June 22, 2026, Quanta Services Inc PWR shares rose 5.4% to a current price of $740.14. This increase comes amidst a 52-week range of $358.38 to $788.75, reflecting a significant year-to-date gain of 75.4% and a remarkable one-year increase of 105.3%.

GF Value™ verdict: Current price is $740.14 vs GF Value™ of $398.44, indicating the stock is 85.8% overvalued.GF Score™ of 89/100 suggests the company is strong across multiple metrics, positioning it favorably for long-term returns.Most notable signal: Insiders sold $123.2 million worth of stock in the last three months, indicating potential caution among company leadership. Is PWR Overvalued or Undervalued? Quanta Services Inc's current share price of $740.14 is significantly above the GF Value™ estimate of $398.44, marking the stock as 85.8% overvalued. This valuation raises concerns regarding the margin of safety for potential investors, as the market price does not reflect a favorable risk-reward scenario. The GF Valuation label categorizes the stock as "Significantly Overvalued," suggesting that investors may be paying a premium that does not correspond to the company’s intrinsic value.

If Quanta Services were to return to its GF Value™, there would be a substantial downside risk for current shareholders. This discrepancy highlights the importance of assessing not only current price movements but also the underlying financial health and future growth potential of the company. GF Value™ is GuruFocus' proprietary measure of intrinsic value, calculated from historical trading multiples, past business growth, and future performance estimates.

How Does PWR's Valuation Compare to Its History? Metric Current Historical P/E (TTM) 101.5x 49.0x Forward P/E 52.9x N/A Quanta Services' current P/E ratio of 101.5x is significantly above its 5-year median of 49.0x, indicating that the stock is trading at a premium compared to its historical valuation. The forward P/E of 52.9x also supports the notion that the stock remains overvalued relative to its past trading multiples. This P/E analysis aligns with the GF Value™ verdict, reinforcing the conclusion that Quanta Services is currently overvalued.

What Does PWR's GF Score™ Tell Us? Metric Rating GF Score™ 89/100 Financial Strength 6/10 Profitability 9/10 Growth 10/10 Valuation 3/10 Momentum 9/10 The GF Score™ of 89/100 suggests that Quanta Services has strong fundamentals, particularly in Growth (10/10) and Profitability (9/10). However, the Valuation score of 3/10 indicates significant concerns regarding its current price level. The Financial Strength score of 6/10 reflects a moderate level of stability, while the Momentum score of 9/10 suggests positive price trends. Overall, while Quanta Services demonstrates strong growth and profitability metrics, its valuation remains a significant area of concern.

What Are Insiders Doing with PWR Stock? Recent insider activity reveals that Quanta Services executives sold $123.2 million worth of shares in the last three months, with no recorded purchases during this time. This pattern of selling suggests potential caution or lack of confidence among insiders about the company's current valuation or future prospects. Such selling activity can be a signal for external investors to proceed with caution, weighing the implications of insider sentiment on the stock's future performance.

What This Means for Investors Based on the GF Value™ assessment, Quanta Services Inc PWR appears to be significantly overvalued at its current price of $740.14, compared to the estimated fair value of $398.44. The elevated valuation, combined with recent insider selling, suggests potential risks for current shareholders and those considering investment in the company.

For the complete analysis, visit the Quanta Services Inc PWR stock page. You can also explore the GF Value™ page for detailed valuation methodology, or use the GuruFocus Stock Screener to find similar opportunities.

Frequently Asked Questions What is PWR's GF Score™?

PWR has a GF Score™ of 89/100, indicating strong fundamentals and potential for higher long-term returns based on historical performance.

Is PWR overvalued or undervalued?

PWR is considered overvalued, with a GF Value™ of $398.44 compared to the current price of $740.14, suggesting significant downside risk.

What is PWR's P/E ratio?

PWR's P/E ratio is 101.5x, which is significantly above its historical 5-year median of 49.0x, indicating that the stock is trading at a premium relative to its past valuations.

This stock alert was generated using automated technology and GuruFocus financial data to provide readers with timely and accurate market reporting. This content was reviewed by GuruFocus editorial team prior to publication. Please send any questions or comments about this story to [email protected].

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Focus List Spotlight: Quanta Services (PWR - Free Report) Quanta Services, Inc. is a leading provider of specialty contracting and infrastructure solutions for the electric and gas utility, power generation, large load center, manufacturing, communications, pipeline and energy industries. Quanta has operations in the United States, Canada, Australia and other selected international markets.

PWR, a #1 (Strong Buy) stock, was added to the Focus List on December 23, 2021 at $111.52 per share. Since then, shares have increased 541.01% to $714.85.

For fiscal 2026, eight analysts revised their earnings estimate upwards in the last 60 days, and the Zacks Consensus Estimate has increased $0.79 to $13.94. PWR boasts an average earnings surprise of 10.3%.

Additionally, PWR's earnings are expected to grow 29.7% for the current fiscal year.

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Key Takeaways PWR has rallied 66.3% year to date, backed by record first-quarter results and strong momentum.PWR's record $48.5B backlog reflects demand in transmission, utilities, power generation and AI data centers.PWR trades at a premium valuation, making project execution, margins and backlog growth crucial. Quanta Services (PWR - Free Report) has been one of the strongest performers in the engineering and infrastructure space in 2026. The stock has rallied 66.3% year to date, outperforming the Zacks Engineering - R&D Services industry, the broader Zacks Construction sector and the S&P 500, as shown below. The stock is also trading above both its 50-day and 200-day moving averages, reflecting strong technical momentum.

PWR Price Performance (YTD)

Image Source: Zacks Investment Research

PWR's Technical Trend Remains Bullish

Image Source: Zacks Investment Research

The rally has been supported by solid business execution. Quanta delivered record first-quarter 2026 results, raised its full-year outlook and continues to benefit from rising investments in electric grid modernization, power generation and AI-related infrastructure.

The key question is whether the stock still has room to appreciate after such a strong run.

Quanta Is Riding Powerful Industry TailwindsQuanta reported an impressive first quarter, with revenues increasing 26.3% year over year to a record $7.87 billion. Adjusted earnings per share rose to $2.68 from $1.78 a year ago, while adjusted EBITDA reached a record $686 million. The company also generated $392 million in operating cash flow.

Equally encouraging was management's confidence in future demand. Total backlog climbed to a record $48.5 billion, driven by strength across transmission, utility infrastructure, power generation and large-load facilities such as AI data centers. Management raised its 2026 guidance and now expects revenues between $34.7 billion and $35.2 billion, with adjusted earnings per share (EPS) of $13.55-$14.25.

Management also reaffirmed its long-term strategy of more than doubling earnings power by 2030 through investments in transformer manufacturing, off-site fabrication and integrated supply-chain capabilities. These investments should strengthen Quanta's ability to execute large and complex infrastructure projects.

AI Infrastructure Continues to Expand PWR's OpportunityArtificial intelligence remains one of Quanta's biggest growth drivers. The rapid construction of hyperscale data centers is increasing demand for transmission lines, substations, transformers and power generation infrastructure.

Management believes customers increasingly value execution certainty, which plays to Quanta's strengths. The company combines engineering, construction, manufacturing and supply-chain capabilities under one platform, allowing it to complete projects faster and more efficiently than many competitors.

Quanta is also benefiting from investments across transmission, natural gas generation, renewable energy, battery storage and communications infrastructure. During the earnings call, management indicated that demand extends well beyond 2030 as utilities continue expanding the power grid to support electrification and AI-driven electricity consumption.

Earnings Estimates Continue Moving Higher for PWR StockAnalysts have become increasingly optimistic about Quanta's outlook. Over the past 60 days, the Zacks Consensus Estimate for 2026 EPS has increased to $13.94 from $13.15, implying nearly 30% earnings growth from 2025. Revenues are expected to increase 21.5% this year.

Growth is expected to remain healthy in 2027, with consensus estimates calling for 17.5% EPS growth and 12.6% revenue growth.

PWR Estimate Revision Trend

Image Source: Zacks Investment Research

Wall Street sentiment is equally encouraging. Of the 26 analysts covering the stock, 21 rate it a Strong Buy, resulting in an Average Brokerage Recommendation of 1.38. The average price target of $804.13 implies roughly 12.5% upside from current levels.

Image Source: Zacks Investment Research

PWR Stock’s Premium Valuation Raises ExpectationsQuanta's strong fundamentals come at a price. The stock trades at 47.45X forward 12-month earnings, well above the industry average of 31.87X and its three-year median valuation of 33.26X. While still below its three-year peak multiple of 61.73X, the valuation suggests investors already expect sustained double-digit earnings growth.

PWR Valuation

Image Source: Zacks Investment Research

To justify this premium, Quanta must continue executing large projects successfully while maintaining strong margins and backlog growth. Any slowdown in project awards or customer spending could pressure the valuation.

Execution Risks RemainAlthough Quanta's long-term outlook is favorable, investors should keep several risks in mind. Large infrastructure projects remain exposed to permitting delays, labor shortages, adverse weather and supply-chain challenges. While Quanta's integrated operating model helps reduce these risks, execution remains critical.

The company is also investing heavily in manufacturing capacity and supply-chain expansion. These investments should support future growth but require disciplined execution before generating attractive returns. Utility spending and AI infrastructure investments also remain important drivers of future growth, making project timing an important factor for investors.

How PWR Compares With CompetitorsQuanta competes with EMCOR Group (EME - Free Report) , Sterling Infrastructure (STRL - Free Report) and Comfort Systems USA (FIX - Free Report) across several infrastructure markets.

EMCOR continues to benefit from strong demand across data centers, manufacturing facilities and commercial construction. EMCOR has consistently expanded margins through disciplined project execution, making EMCOR one of Quanta's strongest competitors.

Sterling has expanded beyond transportation projects into higher-margin semiconductor, manufacturing and data center construction. Sterling Infrastructure continues to improve profitability, while its growing exposure to AI infrastructure makes it an increasingly important competitor.

Comfort Systems is another major beneficiary of AI-driven infrastructure spending. Comfort Systems specializes in mechanical, electrical and HVAC systems for mission-critical facilities. Comfort Systems continues reporting strong earnings growth, while its expanding backlog reflects healthy demand from technology and industrial customers.

Is PWR Stock Still a Buy?Quanta enters the second half of 2026 with strong momentum. Record backlog, rising earnings estimates, expanding AI infrastructure opportunities and continued grid modernization provide a favorable long-term outlook. Management's higher guidance reinforces confidence that these trends remain intact.

The stock's premium valuation could lead to periods of volatility if project execution slows or infrastructure spending becomes uneven. However, Quanta's industry leadership, improving earnings outlook and long-term growth opportunities continue to support the investment thesis.

With positive estimate revisions, strong operating momentum and a Zacks Rank #1 (Strong Buy), Quanta still appears well positioned for long-term investors despite its impressive rally. You can see the complete list of today’s Zacks #1 Rank stocks here.

In this episode of Motley Fool Hidden Gems Investing, Motley Fool contributors Tyler Crowe, Matt Frankel, and Lou Whiteman discuss:

Apple’s fight with the E.U. over Siri AIWhat happens to big tech when Europe wants its own tech?What’s the CAPE ratio, and why is it flashing warning signals?In highly valued markets, should investors look at defensive stocks?The best place to park your cash “on the sidelines”To catch full episodes of all The Motley Fool's free podcasts, check out our podcast center. When you're ready to invest, check out this top 10 list of stocks to buy.

A full transcript is below.

This podcast was recorded on June 9, 2026.

Tyler Crowe: We're talking opportunities in Europe's digital sovereignty on Motley Fool Hidden Gems Investing. Welcome to Motley Fool Hidden Gems Investing. I'm your host, Tyler Crowe, and today I'm joined by longtime Fool contributors, Lou Whiteman and Matt Frankel. Today, we're going to hit a couple of listener questions as we like to do here on Tuesdays, and it's been a slow news week, at least from companies issuing press releases. We're going to do two whole segments based dedicated to listener questions. We're going to talk about valuation. We're going to talk about how we use our cash and our dry powder, our investing strategies.

But we wanted to start today with a couple of news articles that I'm going to string together into a theme that we're going to call Europe's digital sovereignty. We'll start off with a big story that came out today related to Apple, who's in a bit of a, to use the British parlance, a row with the European Union about its digital privacy rules and its Siri AI assistance. Basically, Apple's not looking to get an extension or a waiver or an exemption, and E.U. is like, no, follow our rules. Basically, it's going back and forth, and it's not pretty.

But the bigger theme here, because this is one story of many that we've seen recently around Europe, and it's this theme of digital sovereignty — I want to say nationalism. That isn't quite the right word. But basically, Europe is looking like they want to make a more concerted effort to own things, to be a bigger player in a lot of the discussions that we have around things like AI, semiconductor manufacturing, payment rails, social media, and they're looking to build their own products.

This isn't just Europe either; this is a worldwide thing. China announced earlier that it's deploying a $250 billion fund to build data centers nationwide for its, we'll call it, its home-cooked AI instead of relying on the Anthropics or the OpenAIs of the world. Now, the Chinese digital market has always been a walled garden, with the BYDs and the Alibabas not necessarily playing as well with U.S. companies, so that's not much of a game changer when we talk about AI and digital development here. But does the emergence of these rules and these European initiatives to put, I wouldn't say full-on gates, but screen doors, I guess, if you will, around European markets alter the thesis on big tech companies or AI deployment or anything that you've been seeing recently? What do you say, Matt?

Matt Frankel: It's not surprising that Apple is not thrilled by this. I mean, Apple Intelligence and several of its newer features have been either delayed or limited in the E.U. in recent years. Google, Meta, Amazon are also dealing with all this; it's not just Apple. It's also not surprising, on the other hand, that Europe wants more digital sovereignty. We're doing the same thing. For example, when it comes to the chipmakers, the investments we're making in Intel's foundry and things like that. Nations are realizing that depending on foreign suppliers for critical infrastructure and technology needs, it's a national security concern. But as to the question of does this change the thesis, my short answer is yes, but not as much as you might think. All the companies I just mentioned — Apple, Google, Meta, Amazon — they all depend on Europe for somewhere 20-30% of their revenue. If we see their sales declined by 10-20%, or their margins declined by 10-20%, which I view as the worst-case scenario by this news, it wouldn't completely change my thesis. Smart investors, like you said, already assume that China is essentially a closed market when it comes to evaluating these stocks, but I don't think the same thing is needed with the E.U. here. I'm not rethinking any of my big tech investments on this news.

Lou Whiteman: I don't know if you have to rethink your investments, but I'm not sure that just looking at today's profit-and-loss statement and extrapolating off of that is really the way to look at this because I think there could be less foreseen, if not consequences. Part of what makes Apple Apple is iOS is just everywhere. It's ubiquitous. It feeds into the Apple Store development, and it feeds into the network effect that it's enjoyed. To the extent that this trend towards regionalism, instead of globalism, causes a Balkanization of tech, I think it makes every company, including Apple's products, just less powerful, maybe less profitable over time.

This isn't just a tech story; it's playing out all over the place. Automotive is a real one where it's definitely happening; you just have the U.S. market and the global market going in separate directions. The big picture here is the ‘80s and ‘90s vision of globally dominant companies is getting overhauled by just geopolitics about what's going on. U.S. companies can evolve and survive. I don't think it again; I'm not sure I'm going to change investments right now, but I'm watching this because, make no mistake, the status quo that has been in place over the years was highly favorable to the U.S. tech champions, to U.S. companies. I am doubtful that whatever replaces the status quo will be as favorable to the U.S. brand, the U.S. companies. I do think it could have really hard to predict or hard to quantify right now changes. I do think it could change the thesis for some of these companies over time.

Tyler Crowe: To that point, too, obviously, it changes the thesis and not necessarily good way for the big companies, but if I were to flip the script a little bit here, it does seem like there would be some opportunities. Because if Europe wants to build out the capacity for the things that we're talking about here, chipmakers, AI tools, things like that, there should be an opportunity for the building in the infrastructure and a lot of the, you could call them the champions of this build-out in Europe, similar to what we've had in the United States. Perhaps they haven't quite emerged yet, but I'm just thinking along the lines of it is such a nascent market relative to what we see globally. I saw a quote from ASML, the builder of the lithiography machines that basically etch chips, and they're the sole maker in the world, and he said, 80% of my sales are to Asia, 1% of them are to Europe, so clearly, this is a very small market, and that leaves us an opportunity.

If you were to start looking at the tea leaves, maybe thinking about companies, perhaps, opportunities where Europe is building out this, it doesn't necessarily have to be American companies either, but opportunities where this redundancy or this European digital sovereignty, digital infrastructure, national, regional infrastructure, where do you see some potential opportunities?

Matt Frankel: Yeah, well, I mean, the one thing I would say is that digital sovereignty means that there's going to be a lot of duplicate infrastructure throughout the world. We're seeing this in the U.S. I mentioned the chip foundries are being built here, data centers, other things like that, so there are a few types of winners that I see. There are some companies that produce equipment and software and things like that that is so unique that there's literally no equivalent; Applied Materials comes to mind. You already mentioned ASML is a company that I think is just an opportunity just in itself, no matter what. Data Center infrastructure: companies like Vertiv, ticker symbol VRT, Quanta Services (PWR) that do the electrical work for data centers. They're more obvious beneficiaries: hundreds of billions of dollars in new data centers, networking companies like Cisco, European infrastructure. If the digital sovereignty trend continues, it'll still need switches and routers, no matter what, so I see a lot of opportunities throughout the market, but those are just some that I can think of off the top of my head.

Lou Whiteman: I think there are opportunities. I mean, for some of these the infrastructure companies that are in the U.S., they only have so much capacity, and they may not have that capacity in Europe; they're unlikely to fly all their workers over to do Europe. I do think look at the European champions. Schneider Electric is a great company that is doing a lot of business in the U.S. because there isn't this business in Europe. I think you can see them switch, Lerand, which I think does the electrical cabinets that all these things go in. That is, again, a European champion that could benefit. We're not going to see Comfort Systems get a boost because they need more air conditioners in Europe. That's just not going to go to them. I think all in, selectively, this should end up with more spending, but also less efficiency. The bigger picture thing is to think about where a company sits on the value chain, whether or not it's going to be good or bad, whether they will be less efficient or have more opportunity and make decisions based on that. 

Tyler Crowe: Might have to do some real follow-up deep dives on the European, actually, companies that are traded on the European markets here, because this could be an interesting story to follow in the coming months and years. Coming up after the break, we're gonna jump into listener questions.

Hey, everyone, as we get into our questions here, just a quick reminder: if you want your question asked on air, go ahead and email us at [email protected]. It's podcasts with an "S" @fool.com. We'll try to answer it as best as we can. Our three request is always, keep it Foolish. Keep it short enough. We can read it on air, and we can't give out any personalized advice. Try to ask it in a sense of, like, what would an investor do in this sort of situation.

With those rules in mind, our question to start out today is from Nowina Wikrmhinga. I hope I said that right; I apologize if I got it wrong. Her question is, the current Shiller CAPE ratio in national debt has made me a bit nervous, and I want to know what your thoughts on about adjusting a portfolio’s equaling. This is a sign to start increasing cash or rotate investments into defensive companies. Some of the ones that you mentioned here, we have Waste Management, NextEra Energy, Berkshire Hathaway, and doing this rotation, despite strong earnings in the S&P 500, thanks. Before we get started on this, Matt, I don't know if everyone's necessarily familiar with the Shiller CAPE ratio. Just give us a quick rundown of what that is before you get into the thoughts on valuation related to it.

Matt Frankel: If you're not familiar, CAPE stands for “cyclically adjusted price-to-earnings” ratio. Essentially, it takes the market's collective P/E ratio, which is one of the most common valuation metric used. But instead of using the trailing 12-month earnings, it uses 10 years of inflation-adjusted earnings. The idea here is that you're comparing current valuations against what we would consider normalized earnings across many market environments, not just earnings that result from recent trends, like the AI infrastructure boom, for example. The listener is right: the Shiller CAPE is very high right now. It's about 38; that's more than twice its long-term average, which is 16-17, depending on what time period exactly you're looking at. In the dot-com bubble, it peaked at 44, just for reference.

My short answer is that this is not a reason to be worried all by itself. For most of recent history, meaning my investing lifetime, and I'm in my 40s, the Shiller CAPE has been above its long-term historical averages, and if you had become defensive every time it crossed, say, 25 or 30, you would have missed out on a ton of upward moves. Having said that, I use an elevated CAPE as a sign that I should expect more moderate returns over, say, the next five to 10 years. But on a short-term basis, we've seen time and time again that an elevated ratio doesn't really predict much.

Lou Whiteman: I push back a bit. I think it is a reason to be worried, but I think what Matt’s saying, and I agree with it, it's just not actionable. I really worry about the market today. I think we are more likely than not near a top and probably closer to the end than the beginning, all of those cliches. The thing is, though, the CAPE was at 37 a year ago, and so I had just as much reason to be worried then. In fact, I did think, wow, how long this could go on then? It would have been a mistake for me a year ago to adjust my portfolio due to those worries; in hindsight, and maybe now is the time to take action, or maybe we'll be having the same conversation another six months to a year. I think the listener is correct to be noticing this, and we can talk about maybe how you think about this in terms of what you do with your money. But also, I don't think it's time to throw all my money under a mattress because these things can remain this way for a lot longer than I would think.

Tyler Crowe: Thought we're going to list off as many clichés: end of the line of questioning, ninth inning end of the line, riding off into the sunset, we'll just throw them all out there to make sure that we covered all our bases here. We talked about the valuation thing, but now, talking about the idea of rotating into defensive companies or maybe businesses that aren't necessarily as exposed to a lot of the trends that we're seeing in the S&P 500, which is, let's be honest here, the AI infrastructure build-out, the Mag Seven, and a lot of those companies. To the companies that we're asked here, we got Waste Management, NextEra Energy, Berkshire Hathaway, companies like that. Is that the move that you would do when you see these elevated valuations, or is that just a milquetoast way of doing it? It's like, “Yeah, we're getting into these, they're overvalued, but they're safer.” Is this the rotation you would do, or is there something else that you'd normally do in these situations?

Matt Frankel: Yes. First of all, defensive companies aren't immune to valuation-related concerns. The stocks mentioned in the listener's question, companies like Waste Management and NextEra, they actually trade for somewhat high multiples compared to their own history right now, so they could actually be a little compressed, as well. I'm going to give a more financial planner-type answer to the question. Ask yourself a few questions. No. 1, ask yourself if your asset allocation right now makes sense for your investment goals, your time horizon, and your willingness to withstand an occasional 30% drawdown. If it doesn't, then move a little bit more defensively regardless of what the CAPE ratio or any other market indicator is doing. Second, ask yourself if you're confident in the businesses that you own in terms of their ability to survive a recession. Finally, I would say, if you're investing consistently, regardless of what the market is doing, because averaging into stocks over time, it's a great defensive mechanism against valuation risk, because you're going to end up buying more of your shares at cheaper prices over time, regardless.

Lou Whiteman: My answer for this is, I'm always defensive, and it's just like my philosophy on investing. I'm always trying to find the opportunities that I think are out of favor or at least not fully appreciated by the market. Not to use the term “hidden gems,” so to speak. I don't want to chase momentum. Over the past year, I've been buying a lot more financial services companies; I've been buying industrial companies that just don't have the multiple. It's not because I think that the tech is going to crash; it's just I don't want to chase momentum. I want to go where I see value. I can't time the market, but I can try and avoid getting caught up in the market's current mania. It doesn't insulate me because, as Matt says, when a downturn comes, everybody tends to feel it; it's not like you escape things going down, but I feel like it can help avoid total wipeout. So yes, I am looking at the case; I am looking at where rech is valued, and I am investing elsewhere. It's not really because I think the sky is falling, or that things are going to come down right now. It's because I just don't find a lot of value in things when they are, say, fully loved by the market.

Tyler Crowe: Investing optimistically, but underwriting pessimistically in the sense of, Yeah, of course, I want my things to go up, but I'm going to make my investments based on the idea that they could go down and trying to build as using Seth Klarman's Margin safety built into the valuation that you use, can be pretty effective in at least helping to ease some of those valuation concerns. Coming up next, we'll talk about how cash and the dry powder our investments actually also included in valuation and how we use that first strategy.

It's Tuesday. We're going to do two investor questions here. Our second one comes from Matt Popek, and this is related to basically your cash position. Now, the question is, I know that there's some discussion of money market funds recently and how much cash is available, as he quotes, on the sidelines. Is there any downside to using a money market fund? And he gives the example of Vanguard's money market fund. Basically, most brokerages have their own some money market fund, either Vanguard, Fidelity, you name it. Is there a place to park the vast majority of savings, or in this case, cash for a brokerage?

Lou and you, Matt, specifically, where are you keeping your dry powder for future investments these days? Money markets don't quite like the stock market, at least to Matt here, even if it isn't a brokerage. Before you guys answer, I just want to give a little bit of context to Matt, and hopefully, he’ll better understand this. When you hear the term “money on the sidelines,” either here or I think I hear it all the time on CNBC, I think it's one of their most commonly use terms. That is money actually in money markets funds; it is actually what the Federal Reserve Bank of St. Louis tracks. Now, it might not necessarily reflect all available money to invest in the stock market because maybe some people are using certificates of deposit or longer-dated treasuries, but money market is a decent approximation. According to the Federal Reserve Bank of St. Louis, about $8 trillion worth of money is in money market accounts today, and $2.2 trillion of that is actually in retail investors — you, me, Lou, Matt, all of us — that is in those accounts. After that little long background, guys, do you use money market accounts? Is this the best way to do it? What are some of the other strategies?

Matt Frankel: If I'm being honest, most of the time I'm fully invested or at least pretty close to it. I like to contribute money to my brokerage account pretty much every time I get paid and allocate it where I see the best opportunities, and there always are some; there's always cheap stocks somewhere. But in times where there's either a lack of attractive opportunities or just nothing that's getting me excited, or elevated uncertainty in the market, I do often let my cash accumulate for a little while. Right now, I have 7% of my portfolio in cash; I sold a couple of stocks not that long ago, and that's a lot for me. My cash management strategy isn't that different from money market accounts. My broker happens to also offer a high-yield savings account, and I can easily transfer money between those two. That's where I put any of my uninvested cash. Right now, I get a little more than 3%, and I'm fine with that at times when I want a little bit more financial flexibility to save for opportunities I really want.

Lou Whiteman: First off, Tyler, I'm glad you gave that explanation. This question shows why that statistic that CNBC loves to cite is so imperfect because people do use money market funds for a lot of things, including cash savings that they might not be looking to deploy; some do, though. For me, I consider cash cash and investments investments and never they shall meet. In a way, I guess I am always fully invested because I don't think of my cash position as headed towards the market. I try and keep a significant amount of cash for upcoming expenses, emergency funds. I'm a believer in that nothing in the market you might need in the five years, so I do need to park cash in a lot of places.

For me, it's spread between treasury bills, and I have three online savings accounts with three different banks. I don't use money markets simply because treasuries just pay better, and there's no expenses. The Vanguard fund that Matt mentioned, it's currently yielding 3.5%. I can get a little over 3.7% in a six-month treasury, and I don't have any expense ratio on that. So that's just a personal preference. I do think there's nothing wrong with money market funds. They do tend to pay better than most online savings accounts; you don't have all of the protections, but you have a lot of protections. Just for me, treasuries are the go-to choice because you do get maybe 20 basis points better yield.

Tyler Crowe: When it comes to effort, Lou’s cash management, certainly much more than mine because I'm definitely the lazy investor who says, Yeah, park it in the money market. That tends to be my strategy, at least, although I have been accused at times from being a little bit of a lazy investor and doing things like. To Matt's point, Matt, the listener, the question. Yes, money markets, technically, they're not FDIC insured, but they tend to be invested in things like very short-term treasuries. At least that's what your broker does, and then they transfer a decent amount of that yield to you. They're getting a little bit of the spread by investing your cash, and then they pass on a significantly, I wouldn't say all of it, but enough of it that they're giving it back to you, and so those rates for money markets will tend to fluctuate over time based on Federal Reserve interest rates. I think we can all really remember in the 2010s, money market rates were maybe 0.05% or something like that. It was definitely not the attractive option that it has been in the past couple of years, where it has been at 3% range. Do keep that in mind. If we go back to the 2010s again, everyone's going to be looking at their cash and be like, This is doing absolutely nothing for me. Money markets can be effective when they're doing in a higher interest rate environment, but they can also cut both ways.

As always, people on the program may have interest in the stock they talk about, and The Motley Fool may have formal recommendations for or against, so don't buy or sell stocks based solely on what you hear. All personal finance content follows Motley Fool editorial standards, and it's not approved by advertisers. Advertisements are sponsored content provided for informational purposes only. To see our Fool advertising disclosure, please check out our show notes. Thanks to our producer Dan Boyd and the rest of the Motley Fool team. For Lou and Matt and myself, thanks for listening, and we'll chat again soon.

Growth investors focus on stocks that are seeing above-average financial growth, as this feature helps these securities garner the market's attention and deliver solid returns. But finding a growth stock that can live up to its true potential can be a tough task.

In addition to volatility, these stocks carry above-average risk by their very nature. Also, one could end up losing from a stock whose growth story is actually over or nearing its end.

However, the task of finding cutting-edge growth stocks is made easy with the help of the Zacks Growth Style Score (part of the Zacks Style Scores system), which looks beyond the traditional growth attributes to analyze a company's real growth prospects.

Quanta Services (PWR - Free Report) is on the list of such stocks currently recommended by our proprietary system. In addition to a favorable Growth Score, it carries a top Zacks Rank.

Studies have shown that stocks with the best growth features consistently outperform the market. And for stocks that have a combination of a Growth Score of A or B and a Zacks Rank #1 (Strong Buy) or 2 (Buy), returns are even better.

While there are numerous reasons why the stock of this specialty contractor for utility and energy companies is a great growth pick right now, we have highlighted three of the most important factors below:

Earnings GrowthEarnings growth is arguably the most important factor, as stocks exhibiting exceptionally surging profit levels tend to attract the attention of most investors. For growth investors, double-digit earnings growth is highly preferable, as it is often perceived as an indication of strong prospects (and stock price gains) for the company under consideration.

While the historical EPS growth rate for Quanta Services is 21.4%, investors should actually focus on the projected growth. The company's EPS is expected to grow 29.7% this year, crushing the industry average, which calls for EPS growth of 13.4%.

Cash Flow GrowthWhile cash is the lifeblood of any business, higher-than-average cash flow growth is more important and beneficial for growth-oriented companies than for mature companies. That's because, growth in cash flow enables these companies to expand their businesses without depending on expensive outside funds.

Right now, year-over-year cash flow growth for Quanta Services is 21.2%, which is higher than many of its peers. In fact, the rate compares to the industry average of -3.7%.

While investors should actually consider the current cash flow growth, it's worth taking a look at the historical rate too for putting the current reading into proper perspective. The company's annualized cash flow growth rate has been 24.8% over the past 3-5 years versus the industry average of 11.4%.

Promising Earnings Estimate RevisionsSuperiority of a stock in terms of the metrics outlined above can be further validated by looking at the trend in earnings estimate revisions. A positive trend is of course favorable here. Empirical research shows that there is a strong correlation between trends in earnings estimate revisions and near-term stock price movements.

There have been upward revisions in current-year earnings estimates for Quanta Services. The Zacks Consensus Estimate for the current year has surged 7.3% over the past month.

Bottom LineQuanta Services has not only earned a Growth Score of B based on a number of factors, including the ones discussed above, but it also carries a Zacks Rank #1 because of the positive earnings estimate revisions.

You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here.

This combination positions Quanta Services well for outperformance, so growth investors may want to bet on it.

The recommendations of Wall Street analysts are often relied on by investors when deciding whether to buy, sell, or hold a stock. Media reports about these brokerage-firm-employed (or sell-side) analysts changing their ratings often affect a stock's price. Do they really matter, though?

Let's take a look at what these Wall Street heavyweights have to say about Quanta Services (PWR - Free Report) before we discuss the reliability of brokerage recommendations and how to use them to your advantage.

Quanta Services currently has an average brokerage recommendation (ABR) of 1.40, on a scale of 1 to 5 (Strong Buy to Strong Sell), calculated based on the actual recommendations (Buy, Hold, Sell, etc.) made by 25 brokerage firms. An ABR of 1.40 approximates between Strong Buy and Buy.

Of the 25 recommendations that derive the current ABR, 20 are Strong Buy, representing 80% of all recommendations.

Brokerage Recommendation Trends for PWR

Check price target & stock forecast for Quanta Services here>>>

While the ABR calls for buying Quanta Services, it may not be wise to make an investment decision solely based on this information. Several studies have shown limited to no success of brokerage recommendations in guiding investors to pick stocks with the best price increase potential.

Do you wonder why? As a result of the vested interest of brokerage firms in a stock they cover, their analysts tend to rate it with a strong positive bias. According to our research, brokerage firms assign five "Strong Buy" recommendations for every "Strong Sell" recommendation.

In other words, their interests aren't always aligned with retail investors, rarely indicating where the price of a stock could actually be heading. Therefore, the best use of this information could be validating your own research or an indicator that has proven to be highly successful in predicting a stock's price movement.

Zacks Rank, our proprietary stock rating tool with an impressive externally audited track record, categorizes stocks into five groups, ranging from Zacks Rank #1 (Strong Buy) to Zacks Rank #5 (Strong Sell), and is an effective indicator of a stock's price performance in the near future. Therefore, using the ABR to validate the Zacks Rank could be an efficient way of making a profitable investment decision.

Zacks Rank Should Not Be Confused With ABRAlthough both Zacks Rank and ABR are displayed in a range of 1--5, they are different measures altogether.

The ABR is calculated solely based on brokerage recommendations and is typically displayed with decimals (example: 1.28). In contrast, the Zacks Rank is a quantitative model allowing investors to harness the power of earnings estimate revisions. It is displayed in whole numbers -- 1 to 5.

It has been and continues to be the case that analysts employed by brokerage firms are overly optimistic with their recommendations. Because of their employers' vested interests, these analysts issue more favorable ratings than their research would support, misguiding investors far more often than helping them.

In contrast, the Zacks Rank is driven by earnings estimate revisions. And near-term stock price movements are strongly correlated with trends in earnings estimate revisions, according to empirical research.

Furthermore, the different grades of the Zacks Rank are applied proportionately across all stocks for which brokerage analysts provide earnings estimates for the current year. In other words, at all times, this tool maintains a balance among the five ranks it assigns.

Another key difference between the ABR and Zacks Rank is freshness. The ABR is not necessarily up-to-date when you look at it. But, since brokerage analysts keep revising their earnings estimates to account for a company's changing business trends, and their actions get reflected in the Zacks Rank quickly enough, it is always timely in indicating future price movements.

Should You Invest in PWR?Looking at the earnings estimate revisions for Quanta Services, the Zacks Consensus Estimate for the current year has increased 7.3% over the past month to $13.95.

Analysts' growing optimism over the company's earnings prospects, as indicated by strong agreement among them in revising EPS estimates higher, could be a legitimate reason for the stock to soar in the near term.

The size of the recent change in the consensus estimate, along with three other factors related to earnings estimates, has resulted in a Zacks Rank #1 (Strong Buy) for Quanta Services. You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>>

Therefore, the Buy-equivalent ABR for Quanta Services may serve as a useful guide for investors.

Quanta Services, Inc. (PWR) Presents at Bernstein 42nd Annual Strategic Decisions Conference Transcript

Key Takeaways Quanta Q1 revenues rose 26.3% while adjusted EPS increased more than 50% year over year.The company ended the first quarter of 2026 with a record backlog of about $48.5 billion.PWR raised 2026 revenue and adjusted EPS guidance following strong Q1 2026 execution. Quanta Services, Inc. (PWR - Free Report) has built a leading position in mission-critical infrastructure markets, providing engineering, construction and maintenance services for electric transmission, substations, power generation and large-load facilities. As hyperscalers race to expand AI computing capacity, demand for reliable power infrastructure has surged, creating a significant tailwind for the company.

The momentum is already visible in the numbers. PWR reported first-quarter 2026 revenues of $7.87 billion, up 26.3% year over year, while adjusted earnings per share jumped more than 50%. It also ended the first quarter of 2026 with a record backlog of approximately $48.5 billion, reflecting strong demand across utility, transmission and large-load infrastructure markets. Management continues to highlight data centers as a major growth engine. AI-related facilities require enormous amounts of power, driving investments in transmission networks, substations, grid modernization and power generation projects.

Notably, Quanta’s integrated capabilities across these areas position it as a key partner for utilities, developers and hyperscale customers seeking to accelerate project deployment. The company’s confidence is reflected in its updated 2026 outlook. Following strong first-quarter 2026 execution, PWR raised its full-year 2026 guidance and now expects revenues of $34.7-$35.2 billion (compared with the prior expectations of $33.25-$33.75 billion) and adjusted EPS of $13.55-$14.25 (compared with the earlier projection of $12.65-$13.35).

While permitting challenges, inflation and supply-chain risks remain potential hurdles, the secular growth drivers behind AI infrastructure appear robust. With utilities and technology companies investing heavily to meet soaring electricity demand, Quanta’s growing exposure to data center-related projects could become one of its most significant catalysts for revenue, backlog and earnings growth in the years ahead.

Quanta, MasTec & EMCOR: AI Buildout Battle Heats UpQuanta remains a leading beneficiary of the AI-driven data-center infrastructure boom, leveraging its expertise in power transmission, substations and grid modernization. Despite this edge, the company competes with big names like MasTec, Inc. (MTZ - Free Report) and EMCOR Group, Inc. (EME - Free Report) .

MasTec is also capitalizing on rising demand through its electrical transmission, clean-energy and communications businesses. Its strong backlog growth reflects increasing investments in power infrastructure needed to support data centers, renewable integration and electrification trends. MTZ continues to see significant opportunities tied to utility upgrades and digital infrastructure expansion. Meanwhile, EMCOR is emerging as a key player in mission-critical construction, benefiting from robust demand for mechanical and electrical systems in data centers. EME’s strong project pipeline and exposure to high-tech facilities provide a direct avenue to participate in the AI infrastructure buildout.

Across the sector, accelerating AI adoption, utility spending and power-capacity constraints are creating a multiyear opportunity, supporting backlog growth, revenue visibility and future earnings expansion for MasTec and EMCOR, besides Quanta.

PWR Stock’s Price Performance & Valuation TrendPWR stock has surged 68.6% year to date, outperforming the Zacks Engineering - R and D Services industry, the Zacks Construction sector and the S&P 500 index.

Image Source: Zacks Investment Research

PWR stock is currently trading at a premium compared with the industry peers, with a forward 12-month price-to-earnings (P/E) ratio of 47.57, as evidenced by the chart below.

Image Source: Zacks Investment Research

Earnings Estimate Revision of PWRPWR’s earnings estimates for 2026 and 2027 have trended upward in the past 30 days to $13.95 per share and $16.39 per share, respectively. The estimates for 2026 and 2027 imply year-over-year growth of 29.8% and 17.5%, respectively.

Image Source: Zacks Investment Research

Quanta currently sports a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.

Vancouver, British Columbia--(Newsfile Corp. - June 2, 2026) - Aegis Critical Energy Defence Corp. (CSE: QESS) (OTCQB: QESSF) (FSE: JG6) ("Aegis" or the "Company"), together with its Indigenous majority-owned partner, Malahat Energy Systems Inc. ("Malahat"), is pleased to announce the completion of a comprehensive third-party certification and engineering validation package for the PWR-Flex 261Q energy storage platform. The milestone builds upon the Company's previously announced commercialization activities and further strengthens the platform's readiness for commercial, industrial, utility, telecommunications, mining, marine, Indigenous community, defence, remote, and critical infrastructure deployments throughout North America.

The PWR-Flex 261Q certification and engineering package, completed by CSA Group and independent engineering specialists and commissioned through the platform's manufacturing partners, includes UL 9540, UL 9540A, UL 1973, UL 1741 SB, CSA C22.2 No. 107.1, Functional Safety, NFPA 68, and NFPA 69 evaluations supporting commercial, industrial, utility, telecommunications, mining, marine, Indigenous community, defence, remote, and critical infrastructure applications. (www.malahatenergysystems.ca/cx261-spec/)

The PWR-Flex 261Q is a fully integrated, plug and play 261 kWh / 135 kW outdoor Battery Energy Storage System ("BESS") combining Lithium Iron Phosphate ("LFP") battery technology, liquid-cooled thermal management, intelligent controls, integrated fire suppression, advanced monitoring systems, and optional quantum-secure control architecture within a compact factory-tested enclosure.

"The completion of this certification and engineering validation program represents an important milestone in our strategy to deliver secure, resilient, and commercially deployable energy storage solutions for critical infrastructure customers," said Ramtin Rasoulinezhad, Chief Executive Officer of Aegis Critical Energy Defence Corp.

"The PWR-Flex 261Q combines advanced energy storage technology, comprehensive third-party safety validation, intelligent controls, and optional quantum-secure communications architecture into a highly scalable platform suitable for a broad range of industrial, utility, and critical infrastructure applications."

Built for Critical Infrastructure

Engineered for demanding operating environments, the PWR-Flex 261Q utilizes liquid-cooled LFP battery technology and is designed to operate in temperatures ranging from -30°C to +50°C. The platform incorporates IP67 battery packs housed within an IP55 outdoor enclosure and includes integrated aerosol fire suppression, intelligent battery management, advanced monitoring systems, and flexible communications protocols suitable for deployment in commercial facilities, industrial operations, telecommunications networks, microgrids, remote energy systems, mining operations, marine applications, and critical infrastructure projects.

The PWR-Flex 261Q platform is available with Quantum-Secure Controller architecture utilising Quantum eMotion Corp's., (NYSE American: QNC) (TSXV: QNC) (FSE: 34Q0), hardware-based Quantum Random Number Generation ("QRNG") technology that enables cryptographic signing of commands, telemetry, and firmware updates using quantum-derived entropy, supporting advanced cybersecurity requirements for utilities, telecommunications networks, defence infrastructure, and other mission-critical applications. The integration of QRNG technology will strengthen security through enhanced cryptographic key generation and supporting secure communications across distributed energy infrastructure and critical energy systems.

Supporting the ToughBhoy Platform

The certified PWR-Flex 261Q platform also serves as the foundational energy-storage building block within the Company's ToughBhoy mobile energy platform. Designed for defence, Arctic, mining, remote operations, emergency response, and critical infrastructure applications, ToughBhoy utilizes the same certified 261 kWh LFP energy modules combined with ruggedized deployment configurations, −50 °C to +55 °C operating envelope, advanced controls, and optional quantum-secure communications architecture.

(www.malahatenergysystems.ca/specs/MBT_Tough_Bhoy.pdf)

By leveraging a common certified energy architecture across both fixed and mobile deployments, Aegis and Malahat Energy Systems are positioned to support a broad range of applications ranging from commercial and industrial installations to mission-critical energy systems operating in some of the world's most demanding environments.

Canadian-Led Platform Development

The PWR-Flex 261Q is delivered through a collaborative ecosystem led by Aegis Critical Energy Defence Corp. and Malahat Energy Systems Inc., combining Canadian system integration, Indigenous project leadership, advanced energy storage manufacturing, and next-generation quantum cybersecurity technologies into a unified energy platform designed to address the growing demand for secure and resilient energy infrastructure.

The Company believes the completion of the certification and engineering package strengthens its ability to pursue product qualification, procurement and deployment opportunities across telecommunications, mining, industrial, provincial and municipal, Indigenous community, critical infrastructure and utility market throughout Canada and North America, including potential participation in BC Hydro energy storage initiatives and other utility programs, where applicable.

About Malahat Energy Systems Inc.

Malahat Energy Systems Inc. is an Indigenous majority-owned energy technology company focused on delivering advanced energy storage, hybrid power generation, and microgrid solutions for Indigenous communities, utilities, industrial operators, remote sites, and critical infrastructure applications across Canada and North America. For more information, visit www.malahatenergysystems.ca.

About Aegis Critical Energy Defence Corp.

Aegis Critical Energy Defence Corp. (CSE: QESS) (OTCQB: QESSF) (FFSE: JG6) is a Canadian-based energy technology company focused on the development of secure and resilient energy systems for critical infrastructure. The Company's integrated platform combines advanced energy storage, hybrid and distributed generation systems, intelligent control architectures and cybersecurity to deliver high-reliability solutions for applications across defence, marine, remote and industrial sectors. For more information, visit www.aegiscriticalenergy.com.

Forward-Looking Statements

This news release contains statements that constitute "forward-looking statements." Such forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause Aegis Critical Energy Defence Corp.'s actual results, performance or achievements, or developments in the industry to differ materially from the anticipated results, performance or achievements expressed or implied by such forward-looking statements. Forward-looking statements are statements that are not historical facts and are generally, but not always, identified by the words "expects," "plans," "anticipates," "believes," "intends," "estimates," "projects," "potential" and similar expressions, or that events or conditions "will," "would," "may," "could" or "should" occur.

Neither the Canadian Securities Exchange nor its Market Regulator (as that term is defined in the policies of the Canadian Securities Exchange) accepts responsibility for the adequacy or accuracy of this release.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/299786

Source: Aegis Critical Energy Defence Corp.

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On June 11, 2026, Quanta Services Inc (PWR) shares rose 5.0% to a current price of $683.29, although the stock has experienced a decline of 5.0% over the past w