Speaking of Class: Quanta Services Trades To All-Time High, Extends Gains After Hours (PWR)

The class reference in the headline is to yesterday's "30 Most Important AI Stocks According to BlackRock" intro:

This type of list is quite a bit different from our basic investment philosophy which is: attempt to identify the class of the field and get to know it.

In horse racing the class horse is the one all the other contending horses are aware of and wary of. Horses know.

In business and investing, listen to who the competitors hate and fear. A bit of the 'ol oderint dum metuant goes a long way toward finding winners.

And today we see at The Fly's newsfeed (via TipRanks):

Quanta Services initiated with an Outperform at Wolfe Research

Wolfe Research initiated coverage of Quanta Services with an Outperform rating and $313 price target. Quanta is a “best in-class” infrastructure solutions provider to the electric and gas utilities, renewable energy, and energy sectors, levered to current megatrends that includes data centers, electrification, energy transition, and climate risk, the analyst tells investors. Quanta “hits on all key thematics across our coverage,” the analyst added.

TheFly newsfeed home. 

And at Investing.com:

Quanta Services stock soars to all-time high of $287.03

That story is written by an algo and reads like it but the headline gets the point across.

Here's today's action in PWR: $289.73up $17.67 (+6.49%) and after trading above $300 AH the stock was last at $290.00 up $0.27 (+0.09%) in after-hours.

Some of our more recent posts on Quanta:

May 8— Goldman Sachs' Picks For Data Center Electricity Demand Growth

February 23—The Infrastructure Theme Is For Real (PWR)

 

Here's a January 8 post:
"There’s a Shortage of Electrical Wires, Transformers. That’s Good for These Stocks."

Over the next twenty years the entire U.S. electrical grid will have to be replaced.

Fifteen years ago when President Obama and Vice President Biden were talking Recovery Summer and "shovel ready jobs" the go-to stock for transmission infrastructure was Quanta Services (PWR). Unfortunately the The American Recovery and Reinvestment Act of 2009 ended up shoveling money to political constituencies other than the grid.*

PWR is still the contractor that utilities think of first when stringing lines but here's a slightly different approach. From Barron's, January 7....

Here's the chart for PWR since the 1st of the year:

BigCharts

Currently changing hands at  $232.115 down $0.815 (-0.35%)

The jump was in response to "Quanta Services (PWR) Q4 Earnings and Revenues Surpass Estimates"—Zacks via Yahoo Finance, February 22

Here's the earnings call transcript.