Has Quanta Services (PWR) Outpaced Other Construction Stocks This Year?
The Construction group has plenty of great stocks, but investors should always be looking for companies that are outperforming their peers. Quanta Services (PWR) is a stock that can certainly grab the attention of many investors, but do its recent returns compare favorably to the sector as a whole? One simple way to answer this question is to take a look at the year-to-date performance of PWR and the rest of the Construction group's stocks.
Quanta Services is a member of the Construction sector. This group includes 97 individual stocks and currently holds a Zacks Sector Rank of #11. The Zacks Sector Rank considers 16 different sector groups. The average Zacks Rank of the individual stocks within the groups is measured, and the sectors are listed from best to worst.
The Zacks Rank is a successful stock-picking model that emphasizes earnings estimates and estimate revisions. The system highlights a number of different stocks that could be poised to outperform the broader market over the next one to three months. PWR is currently sporting a Zacks Rank of #2 (Buy).
Over the past 90 days, the Zacks Consensus Estimate for PWR's full-year earnings has moved 8.18% higher. This signals that analyst sentiment is improving and the stock's earnings outlook is more positive.
According to our latest data, PWR has moved about 34.25% on a year-to-date basis. In comparison, Construction companies have returned an average of 23.61%. This means that Quanta Services is outperforming the sector as a whole this year.
Breaking things down more, PWR is a member of the Engineering - R and D Services industry, which includes 16 individual companies and currently sits at #94 in the Zacks Industry Rank. On average, stocks in this group have gained 30.64% this year, meaning that PWR is performing better in terms of year-to-date returns.
Investors in the Construction sector will want to keep a close eye on PWR as it attempts to continue its solid performance.
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.