On July 27, Quanta fell 3.02% in regular trading, trading at $605.4/share, with turnover of $114 million.

On the news front, JPMorgan downgraded Quanta from Overweight to Neutral on July 21, slashing the price target from $805 to $714. Earlier, Jefferies also reduced its target from $857 to $784. Multiple institutions have concentrated their downward revisions, forming sustained pressure on the stock price ahead of the upcoming Q2 earnings release scheduled for July 30 pre-market, with consensus EPS estimated at $3.03.

The broader Construction and Engineering sector also showed broad-based weakness, with Sterling Construction down 5.69%, MasTec down 5.30%, EMCOR Group down 2.36%, and Comfort Systems USA down 3.11%, while Arcosa was the only gainer at 0.12%. The sector-wide downturn compounded the negative sentiment from the rating downgrades.

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