Quanta Services, Inc. (NYSE:PWR) Receives Consensus Recommendation of “Moderate Buy” from Analysts

Quanta Services, Inc. (NYSE:PWR) has earned a consensus recommendation of “Moderate Buy” from the twenty-two brokerages that are currently covering the company, Marketbeat Ratings reports. Six investment analysts have rated the stock with a hold recommendation, fifteen have issued a buy recommendation and one has issued a strong buy recommendation on the company. The average 12 month price target among analysts that have updated their coverage on the stock in the last year is $326.95.

Several research analysts recently commented on PWR shares. Citigroup reduced their price objective on shares of Quanta Services from $394.00 to $371.00 and set a “buy” rating for the company in a research note on Wednesday, January 29th. Truist Financial lowered their price objective on Quanta Services from $399.00 to $398.00 and set a “buy” rating for the company in a research report on Thursday, January 16th. Roth Capital raised Quanta Services to a “strong-buy” rating in a research report on Thursday, February 20th. JPMorgan Chase & Co. boosted their price target on Quanta Services from $297.00 to $323.00 and gave the stock a “neutral” rating in a research note on Tuesday, January 28th. Finally, BMO Capital Markets raised shares of Quanta Services from a “market perform” rating to an “outperform” rating and decreased their price objective for the company from $338.00 to $316.00 in a research report on Tuesday, February 25th.

Quanta Services Stock Down 0.7 %

NYSE:PWR opened at $249.27 on Wednesday. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.30 and a quick ratio of 1.19. Quanta Services has a 1-year low of $227.11 and a 1-year high of $365.88. The company has a 50-day moving average of $307.70 and a 200 day moving average of $305.88. The firm has a market cap of $36.94 billion, a PE ratio of 41.34, a price-to-earnings-growth ratio of 1.41 and a beta of 1.05.

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

Institutional Investors Weigh In On Quanta Services

Several hedge funds and other institutional investors have recently added to or reduced their stakes in PWR. Banque Transatlantique SA purchased a new stake in shares of Quanta Services in the fourth quarter worth about $25,000. Webster Bank N. A. raised its position in Quanta Services by 4,050.0% during the fourth quarter. Webster Bank N. A. now owns 83 shares of the construction company’s stock valued at $26,000 after acquiring an additional 81 shares in the last quarter. Quarry LP acquired a new position in Quanta Services in the fourth quarter valued at approximately $26,000. Sierra Ocean LLC purchased a new stake in Quanta Services in the 4th quarter worth approximately $27,000. Finally, Prestige Wealth Management Group LLC acquired a new stake in shares of Quanta Services during the 3rd quarter worth approximately $30,000. 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.