Quanta Services (NYSE:PWR) Coverage Initiated at Roth Mkm

Stock analysts at Roth Mkm began coverage on shares of Quanta Services (NYSE:PWR) in a research note issued on Friday,Briefing.com Automated Import reports. The firm set a “buy” rating and a $350.00 price target on the construction company’s stock. Roth Mkm’s price target suggests a potential upside of 24.60% from the company’s current price.

Several other research analysts also recently weighed in on the stock. Daiwa America upgraded shares of Quanta Services to a “strong-buy” rating in a research report on Friday, December 6th. Guggenheim began coverage on shares of Quanta Services in a research report on Wednesday, January 8th. They issued a “neutral” rating on the stock. Stifel Nicolaus increased their price target on shares of Quanta Services from $374.00 to $388.00 and gave the stock a “buy” rating in a research report on Wednesday, January 22nd. Truist Financial decreased their price objective on shares of Quanta Services from $399.00 to $398.00 and set a “buy” rating on the stock in a research report on Thursday, January 16th. Finally, Daiwa Capital Markets began coverage on shares of Quanta Services in a research report on Friday, December 6th. They set an “outperform” rating and a $355.00 price objective on the stock. Four research analysts have rated the stock with a hold rating, sixteen have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $331.53.

Quanta Services Trading Down 3.8 %

NYSE:PWR opened at $280.89 on Friday. Quanta Services has a 52 week low of $206.58 and a 52 week high of $365.88. The company has a quick ratio of 1.19, a current ratio of 1.23 and a debt-to-equity ratio of 0.58. The company’s 50 day moving average price is $317.38 and its 200-day moving average price is $304.97. The stock has a market cap of $41.46 billion, a price-to-earnings ratio of 51.82, a PEG ratio of 1.46 and a beta of 1.05.

Quanta Services (NYSE:PWR) last issued its earnings results on Thursday, February 20th. The construction company reported $2.74 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.62 by $0.12. Quanta Services had a net margin of 3.54% and a return on equity of 16.71%. On average, equities research analysts forecast that Quanta Services will post 7.91 earnings per share for the current fiscal year.

Institutional Trading of Quanta Services

Large investors have recently modified their holdings of the company. Versor Investments LP purchased a new stake in shares of Quanta Services in the third quarter valued at approximately $406,000. Kestra Private Wealth Services LLC lifted its holdings in Quanta Services by 85.0% during the fourth quarter. Kestra Private Wealth Services LLC now owns 4,752 shares of the construction company’s stock worth $1,502,000 after buying an additional 2,184 shares during the period. Principal Financial Group Inc. lifted its holdings in Quanta Services by 5.6% during the third quarter. Principal Financial Group Inc. now owns 207,720 shares of the construction company’s stock worth $61,932,000 after buying an additional 11,012 shares during the period. Synovus Financial Corp lifted its holdings in Quanta Services by 34.0% during the third quarter. Synovus Financial Corp now owns 7,206 shares of the construction company’s stock worth $2,148,000 after buying an additional 1,830 shares during the period. Finally, Waverton Investment Management Ltd lifted its holdings in Quanta Services by 6.5% during the third quarter. Waverton Investment Management Ltd now owns 41,963 shares of the construction company’s stock worth $12,509,000 after buying an additional 2,557 shares during the period. 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.