Quanta Services, Inc. (NYSE:PWR) Receives Consensus Rating of “Moderate Buy” from Analysts

Quanta Services, Inc. (NYSE:PWR) has received an average rating of “Moderate Buy” from the twenty-two ratings firms that are currently covering the firm, Marketbeat.com reports. Six investment analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has given a strong buy rating to the company. The average 1-year price objective among brokers that have issued ratings on the stock in the last year is $326.95.

Several research analysts have recently issued reports on PWR shares. BMO Capital Markets upgraded shares of Quanta Services from a “market perform” rating to an “outperform” rating and dropped their price objective for the stock from $338.00 to $316.00 in a report on Tuesday, February 25th. Truist Financial dropped their price objective on shares of Quanta Services from $399.00 to $398.00 and set a “buy” rating on the stock in a report on Thursday, January 16th. JPMorgan Chase & Co. boosted their price objective on shares of Quanta Services from $297.00 to $323.00 and gave the stock a “neutral” rating in a report on Tuesday, January 28th. Stifel Nicolaus dropped their price objective on shares of Quanta Services from $388.00 to $323.00 and set a “buy” rating on the stock in a report on Monday, February 24th. Finally, Daiwa America cut shares of Quanta Services from a “strong-buy” rating to a “hold” rating in a research note on Monday, February 24th.

Hedge Funds Weigh In On Quanta Services

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Banque Transatlantique SA acquired a new position in Quanta Services in the fourth quarter valued at about $25,000. Quarry LP acquired a new position in shares of Quanta Services during the fourth quarter worth approximately $26,000. Webster Bank N. A. lifted its position in shares of Quanta Services by 4,050.0% during the fourth quarter. Webster Bank N. A. now owns 83 shares of the construction company’s stock worth $26,000 after purchasing an additional 81 shares in the last quarter. Sierra Ocean LLC acquired a new position in shares of Quanta Services during the fourth quarter worth approximately $27,000. Finally, Legacy Investment Solutions LLC acquired a new position in shares of Quanta Services during the third quarter worth approximately $31,000. 90.49% of the stock is currently owned by institutional investors and hedge funds.

Quanta Services Stock Up 2.0 %

Quanta Services stock opened at $245.63 on Wednesday. The firm has a market cap of $36.40 billion, a price-to-earnings ratio of 40.73, a P/E/G ratio of 1.41 and a beta of 1.10. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.30 and a quick ratio of 1.19. Quanta Services has a fifty-two week low of $227.11 and a fifty-two week high of $365.88. The firm has a fifty day moving average price of $301.17 and a two-hundred day moving average price of $305.31.

Quanta Services (NYSE:PWR) last posted its quarterly earnings data 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 3.82% and a return on equity of 18.00%. The company had revenue of $6.55 billion for the quarter, compared to the consensus estimate of $6.61 billion. As a group, analysts forecast that Quanta Services will post 9.34 earnings per share for the current year.

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.