Quanta Services (NYSE:PWR) Now Covered by Daiwa Capital Markets

Research analysts at Daiwa Capital Markets started coverage on shares of Quanta Services (NYSE:PWR) in a report released on Friday, MarketBeat Ratings reports. The firm set an “outperform” rating and a $355.00 price target on the construction company’s stock. Daiwa Capital Markets’ price target indicates a potential upside of 6.78% from the stock’s current price.

A number of other research analysts also recently weighed in on the stock. Citigroup upped their price objective on shares of Quanta Services from $302.00 to $348.00 and gave the stock a “buy” rating in a research report on Friday, October 4th. TD Cowen increased their price target on Quanta Services from $280.00 to $335.00 and gave the stock a “buy” rating in a research report on Tuesday, October 15th. Wolfe Research initiated coverage on Quanta Services in a research report on Thursday, September 19th. They issued an “outperform” rating and a $313.00 price objective for the company. Robert W. Baird increased their target price on Quanta Services from $320.00 to $333.00 and gave the company an “outperform” rating in a research report on Friday, November 1st. Finally, Stifel Nicolaus boosted their price target on shares of Quanta Services from $283.00 to $342.00 and gave the stock a “buy” rating in a report on Thursday, October 10th. Four investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $316.81.

Quanta Services Stock Performance

NYSE PWR opened at $332.47 on Friday. Quanta Services has a fifty-two week low of $187.27 and a fifty-two week high of $350.19. The company has a debt-to-equity ratio of 0.58, a quick ratio of 1.19 and a current ratio of 1.23. The firm has a market capitalization of $49.08 billion, a P/E ratio of 61.34 and a beta of 1.03. The stock has a 50-day simple moving average of $319.67 and a two-hundred day simple moving average of $285.37.

Quanta Services (NYSE:PWR) last released its quarterly earnings data on Thursday, October 31st. The construction company reported $2.72 EPS for the quarter, topping the consensus estimate of $2.46 by $0.26. Quanta Services had a return on equity of 16.71% and a net margin of 3.54%. The business had revenue of $6.49 billion for the quarter, compared to analyst estimates of $6.56 billion. During the same quarter in the prior year, the firm posted $2.08 EPS. The business’s quarterly revenue was up 15.5% compared to the same quarter last year. On average, equities analysts forecast that Quanta Services will post 7.9 earnings per share for the current year.

Institutional Trading of Quanta Services

Hedge funds and other institutional investors have recently modified their holdings of the stock. Prestige Wealth Management Group LLC acquired a new stake in Quanta Services during the third quarter worth about $30,000. Legacy Investment Solutions LLC purchased a new stake in shares of Quanta Services during the 3rd quarter valued at approximately $31,000. Valley Wealth Managers Inc. acquired a new position in Quanta Services in the second quarter valued at approximately $33,000. Quest Partners LLC purchased a new position in Quanta Services in the second quarter worth approximately $35,000. Finally, CarsonAllaria Wealth Management Ltd. acquired a new stake in Quanta Services during the second quarter worth $38,000. 90.49% of the stock is owned by institutional investors and hedge funds.

About Quanta Services

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.