Quanta Services (NYSE:PWR) Earns Neutral Rating from Analysts at Guggenheim

Stock analysts at Guggenheim initiated coverage on shares of Quanta Services (NYSE:PWR) in a research report issued to clients and investors on Wednesday,Briefing.com Automated Import reports. The brokerage set a “neutral” rating on the construction company’s stock.

A number of other research analysts have also commented on the company. Wolfe Research began coverage on Quanta Services in a research report on Thursday, September 19th. They set an “outperform” rating and a $313.00 price target for the company. Stifel Nicolaus upped their target price on Quanta Services from $343.00 to $374.00 and gave the company a “buy” rating in a report on Wednesday, December 11th. TD Cowen lifted their price target on shares of Quanta Services from $280.00 to $335.00 and gave the company a “buy” rating in a report on Tuesday, October 15th. Citigroup upped their price objective on shares of Quanta Services from $348.00 to $394.00 and gave the stock a “buy” rating in a report on Monday, December 9th. Finally, Daiwa Capital Markets started coverage on shares of Quanta Services in a research note on Friday, December 6th. They set an “outperform” rating and a $355.00 target price on the stock. Five equities research analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $324.25.

Quanta Services Price Performance

Shares of Quanta Services stock opened at $319.96 on Wednesday. The stock has a market capitalization of $47.23 billion, a P/E ratio of 59.03 and a beta of 1.06. Quanta Services has a one year low of $187.27 and a one year high of $350.19. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.23 and a quick ratio of 1.19. The business’s 50 day simple moving average is $327.84 and its two-hundred day simple moving average is $293.33.

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

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in PWR. Prestige Wealth Management Group LLC bought a new position in shares of Quanta Services during the third quarter valued at $30,000. Legacy Investment Solutions LLC bought a new stake in Quanta Services during the 3rd quarter valued at about $31,000. Valley Wealth Managers Inc. purchased a new position in Quanta Services in the second quarter worth about $33,000. Quest Partners LLC bought a new position in shares of Quanta Services in the second quarter worth approximately $35,000. Finally, Versant Capital Management Inc grew its holdings in shares of Quanta Services by 62.5% during the fourth quarter. Versant Capital Management Inc now owns 117 shares of the construction company’s stock valued at $37,000 after buying an additional 45 shares during the last quarter. Hedge funds and other 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.