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

Roth Mkm assumed coverage on shares of Quanta Services (NYSE:PWR) in a research report report published on Friday, Marketbeat Ratings reports. The firm issued a buy rating and a $350.00 price target on the construction company’s stock.

Several other equities analysts have also recently weighed in on PWR. Daiwa America raised shares of Quanta Services to a “strong-buy” rating in a research report on Friday, December 6th. JPMorgan Chase & Co. raised their target price on Quanta Services from $297.00 to $323.00 and gave the company a “neutral” rating in a report on Tuesday, January 28th. Northland Securities reiterated an “outperform” rating and set a $328.00 price target (up previously from $280.00) on shares of Quanta Services in a report on Friday, November 1st. Daiwa Capital Markets began coverage on Quanta Services in a research note on Friday, December 6th. They set an “outperform” rating and a $355.00 price objective on the stock. Finally, Citigroup reduced their target price 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. Four analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $331.53.

Quanta Services Stock Down 4.1 %

Shares of NYSE:PWR opened at $269.75 on Friday. The company has a debt-to-equity ratio of 0.58, a quick ratio of 1.19 and a current ratio of 1.23. Quanta Services has a 52-week low of $221.07 and a 52-week high of $365.88. The business’s 50 day simple moving average is $316.02 and its two-hundred day simple moving average is $305.18. The firm has a market cap of $39.82 billion, a P/E ratio of 49.77, a PEG ratio of 1.46 and a beta of 1.05.

Quanta Services (NYSE:PWR) last posted its quarterly earnings results on Thursday, February 20th. The construction company reported $2.74 earnings per share (EPS) for the quarter, beating 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%. The business had revenue of $6.55 billion during the quarter, compared to the consensus estimate of $6.61 billion. As a group, research analysts forecast that Quanta Services will post 7.91 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the company. Versor Investments LP bought a new position in Quanta Services during the third quarter worth about $406,000. Kestra Private Wealth Services LLC lifted its stake in shares of Quanta Services by 85.0% during the 4th quarter. Kestra Private Wealth Services LLC now owns 4,752 shares of the construction company’s stock valued at $1,502,000 after buying an additional 2,184 shares in the last quarter. Principal Financial Group Inc. boosted its holdings in Quanta Services by 5.6% in the 3rd 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 grew its stake in Quanta Services by 34.0% in the 3rd quarter. Synovus Financial Corp now owns 7,206 shares of the construction company’s stock valued at $2,148,000 after buying an additional 1,830 shares in the last quarter. Finally, Waverton Investment Management Ltd grew its stake in Quanta Services by 6.5% in the 3rd quarter. Waverton Investment Management Ltd now owns 41,963 shares of the construction company’s stock valued at $12,509,000 after buying an additional 2,557 shares in 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.