Analysts Set Quanta Services, Inc. (NYSE:PWR) Target Price at $326.95

Quanta Services, Inc. (NYSE:PWR) has been assigned an average recommendation of “Moderate Buy” from the twenty-two analysts that are presently covering the firm, MarketBeat reports. Six analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has assigned a strong buy rating to the company. The average twelve-month target price among analysts that have covered the stock in the last year is $326.95.

A number of equities analysts have issued reports on the company. Roth Capital upgraded Quanta Services to a “strong-buy” rating in a report on Thursday, February 20th. Citigroup decreased their price objective on Quanta Services from $394.00 to $371.00 and set a “buy” rating for the company in a report on Wednesday, January 29th. Truist Financial decreased their price objective on Quanta Services from $399.00 to $398.00 and set a “buy” rating for the company in a report on Thursday, January 16th. JPMorgan Chase & Co. increased their price objective on Quanta Services from $297.00 to $323.00 and gave the stock a “neutral” rating in a report on Tuesday, January 28th. Finally, Bank of America assumed coverage on Quanta Services in a report on Friday, January 24th. They issued a “buy” rating and a $407.00 price objective for the company.

Quanta Services Stock Performance

Shares of PWR stock opened at $246.48 on Wednesday. The stock has a fifty day moving average of $299.51 and a 200 day moving average of $305.08. Quanta Services has a 52 week low of $227.11 and a 52 week high of $365.88. The firm has a market capitalization of $36.53 billion, a price-to-earnings ratio of 40.88, a PEG ratio of 1.41 and a beta of 1.10. The company has a quick ratio of 1.19, a current ratio of 1.30 and a debt-to-equity ratio of 0.56.

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

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of the business. Old North State Trust LLC boosted its stake in shares of Quanta Services by 18.6% during the 4th quarter. Old North State Trust LLC now owns 1,730 shares of the construction company’s stock worth $547,000 after acquiring an additional 271 shares during the last quarter. Mattson Financial Services LLC boosted its stake in shares of Quanta Services by 6.2% during the 4th quarter. Mattson Financial Services LLC now owns 5,954 shares of the construction company’s stock worth $1,775,000 after acquiring an additional 348 shares during the last quarter. TFR Capital LLC. purchased a new position in shares of Quanta Services during the 4th quarter worth $1,229,000. Siemens Fonds Invest GmbH boosted its stake in shares of Quanta Services by 468.6% during the 4th quarter. Siemens Fonds Invest GmbH now owns 23,669 shares of the construction company’s stock worth $7,481,000 after acquiring an additional 19,506 shares during the last quarter. Finally, Park Square Financial Group LLC purchased a new position in shares of Quanta Services during the 4th quarter worth $71,000. Hedge funds and other 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.