Quanta Services (NYSE:PWR) Rating Increased to Strong-Buy at Roth Capital

Quanta Services (NYSE:PWR) was upgraded by Roth Capital to a “strong-buy” rating in a research report issued to clients and investors on Thursday,Zacks.com reports.

A number of other equities research analysts have also recently issued reports on PWR. Bank of America began 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. Citigroup lowered 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 report on Wednesday, January 29th. Roth Mkm initiated coverage on shares of Quanta Services in a research report on Friday. They issued a “buy” rating and a $350.00 price objective for the company. Truist Financial lowered their price objective on shares of Quanta Services from $399.00 to $398.00 and set a “buy” rating for the company in a research report on Thursday, January 16th. Finally, JPMorgan Chase & Co. raised their price objective on shares of Quanta Services from $297.00 to $323.00 and gave the company a “neutral” rating in a research report on Tuesday, January 28th. Four analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $331.53.

Quanta Services Trading Down 4.1 %

Shares of Quanta Services stock opened at $269.75 on Thursday. The stock has a market capitalization of $39.82 billion, a P/E ratio of 44.73, a price-to-earnings-growth ratio of 1.41 and a beta of 1.05. The company has a quick ratio of 1.19, a current ratio of 1.30 and a debt-to-equity ratio of 0.56. The company has a 50-day simple moving average of $316.02 and a 200 day simple moving average of $305.18. Quanta Services has a 12-month low of $221.07 and a 12-month high of $365.88.

Quanta Services (NYSE:PWR) last announced 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 business 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%. Research analysts expect that Quanta Services will post 9.34 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of PWR. Norges Bank bought a new position in Quanta Services during the 4th quarter worth approximately $544,937,000. Capital World Investors boosted its stake in Quanta Services by 14.1% during the 4th quarter. Capital World Investors now owns 7,223,471 shares of the construction company’s stock worth $2,282,978,000 after acquiring an additional 891,977 shares during the last quarter. Raymond James Financial Inc. bought a new position in Quanta Services during the 4th quarter worth approximately $203,068,000. Bank of America Corp DE boosted its stake in Quanta Services by 42.8% during the 4th quarter. Bank of America Corp DE now owns 1,691,652 shares of the construction company’s stock worth $534,647,000 after acquiring an additional 506,722 shares during the last quarter. Finally, Voya Investment Management LLC boosted its stake in Quanta Services by 210.8% during the 4th quarter. Voya Investment Management LLC now owns 550,598 shares of the construction company’s stock worth $174,016,000 after acquiring an additional 373,429 shares during the last quarter. Institutional investors own 90.49% of the company’s stock.

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.