Quanta Services (NYSE:PWR) Research Coverage Started at Roth Mkm

Roth Mkm began coverage on shares of Quanta Services (NYSE:PWR) in a research note issued to investors on Friday, MarketBeat Ratings reports. The brokerage issued a buy rating and a $350.00 price objective on the construction company’s stock.

Several other equities research analysts also recently commented on PWR. Bank of America initiated coverage on shares of Quanta Services in a research report on Friday, January 24th. They set a “buy” rating and a $407.00 target price for the company. Guggenheim initiated coverage on Quanta Services in a report on Wednesday, January 8th. They set a “neutral” rating for the company. JPMorgan Chase & Co. raised their target price on Quanta Services from $297.00 to $323.00 and gave the company a “neutral” rating in a report on Tuesday, January 28th. Truist Financial decreased their price target on Quanta Services from $399.00 to $398.00 and set a “buy” rating for the company in a report on Thursday, January 16th. Finally, Daiwa America upgraded Quanta Services to a “strong-buy” rating in a research note on Friday, December 6th. Four investment analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $331.53.

Quanta Services Stock Down 4.1 %

Shares of NYSE:PWR opened at $269.75 on Friday. The firm has a market cap of $39.82 billion, a P/E ratio of 44.73, a PEG ratio of 1.41 and a beta of 1.05. Quanta Services has a 52-week low of $221.07 and a 52-week high of $365.88. The business’s 50 day simple moving average is $316.02 and its two-hundred day simple moving average is $305.98. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.19 and a current ratio of 1.30.

Quanta Services (NYSE:PWR) last issued its earnings results on Thursday, February 20th. The construction company reported $2.74 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.62 by $0.12. The company had revenue of $6.55 billion for the quarter, compared to analysts’ expectations of $6.61 billion. Quanta Services had a return on equity of 18.00% and a net margin of 3.82%. As a group, research analysts forecast that Quanta Services will post 9.34 EPS for the current fiscal year.

Institutional Investors Weigh In On Quanta Services

Hedge funds have recently modified their holdings of the stock. Banque Transatlantique SA purchased a new stake in Quanta Services in the fourth quarter worth $25,000. Webster Bank N. A. increased its holdings in Quanta Services by 4,050.0% in the 4th quarter. Webster Bank N. A. now owns 83 shares of the construction company’s stock worth $26,000 after acquiring an additional 81 shares during the last quarter. Quarry LP purchased a new stake in Quanta Services during the fourth quarter valued at about $26,000. Sierra Ocean LLC bought a new position in Quanta Services during the fourth quarter worth about $27,000. Finally, Prestige Wealth Management Group LLC bought a new stake in shares of Quanta Services in the third quarter valued at approximately $30,000. Institutional investors own 90.49% of the company’s stock.

Quanta Services Company Profile

Quanta Services, Inc provides infrastructure solutions for the electric and gas utility, renewable energy, communications, and pipeline and energy industries in the United States, Canada, Australia, and internationally. The company’s Electric Power Infrastructure Solutions segment engages in the design, procurement, construction, upgrade, repair, and maintenance of electric power transmission and distribution infrastructure and substation facilities; installation, maintenance, and upgrade of electric power infrastructure projects; installation of smart grid technologies on electric power networks; and design, installation, maintenance, and repair of commercial and industrial wirings.