Valued at $51.1 billion by market cap, Houston, Texas-based Quanta Services, Inc. (PWR) operates as a leading contractor of infrastructure construction for electric & gas utilities, renewable energy, communications, and pipeline. The company’s operations span across North America and internationally.

The engineering and construction giant has significantly outpaced the broader market over the past year, PWR stock has soared 28.9% over the past 52 weeks and 9.2% on a YTD basis, compared to the S&P 500 Index’s ($SPX) 11.9% surge over the past year and 1% uptick in 2025.

Narrowing the focus, Quanta has also outperformed the Industrial Select Sector SPDR Fund’s (XLI) 14.5% gains over the past year and 9.1% returns in 2025.

Quanta Services’ stock prices rallied almost 10% after the release of its impressive Q1 results on May 1. Despite volatile and increasing macro uncertainties, the company’s collaborative infrastructure solutions’ demand remained strong during the quarter. Its revenues for the quarter soared by an impressive 23.9% year-over-year to $6.2 billion, exceeding the consensus estimates by 6.1%. Meanwhile, Quanta's adjusted net income to shareholders surged 27.4% year-over-year to $268.6 million, surpassing the consensus estimates by a notable margin.

Furthermore, the company’s total backlog has remained on an uptrend, increasing 2.1% quarter-on-quarter and 17.9% year-over-year to a staggering $35.3 billion, boosting investor confidence.

For the current FY 2025, ending in December, analysts expect PWR to deliver a 15.8% growth in earnings compared to the year-ago quarter to $9.51 per share. The company has a mixed earnings surprise history. While it surpassed the Street’s bottom-line estimates thrice over the past four quarters, it missed the projections on one other occasion.

Among the 24 analysts covering the PWR stock, the consensus rating is a “Strong Buy.” That’s based on 18 “Strong Buys” and six “Holds.”

This configuration is notably more bullish than two months ago, when only 16 analysts gave “Strong Buy” recommendations.

On May 6, Piper Sandler analyst Kashy Harrison reiterated an “Overweight” rating on PWR and raised the price target from $286 to $360.

As of writing, Quanta’s mean price target of $353.91 represents a modest 2.6% premium to current price levels. While the street-high target of $384 suggests a notable 11.3% upside potential.