Quanta Services (NYSE:PWR) Coverage Initiated at Guggenheim

Stock analysts at Guggenheim assumed coverage on shares of Quanta Services (NYSE:PWR) in a report issued on Wednesday, MarketBeat Ratings reports. The firm set a “neutral” rating on the construction company’s stock.

A number of other research firms have also recently commented on PWR. Citigroup increased their price target on Quanta Services from $348.00 to $394.00 and gave the company a “buy” rating in a research note on Monday, December 9th. JPMorgan Chase & Co. initiated coverage on shares of Quanta Services in a research report on Monday, October 7th. They issued a “neutral” rating and a $297.00 price objective for the company. Wolfe Research assumed coverage on shares of Quanta Services in a research report on Thursday, September 19th. They set an “outperform” rating and a $313.00 target price on the stock. UBS Group raised their price target on shares of Quanta Services from $313.00 to $367.00 and gave the stock a “buy” rating in a report on Wednesday, October 23rd. Finally, TD Cowen upped their target price on Quanta Services from $280.00 to $335.00 and gave the company a “buy” rating in a research report on Tuesday, October 15th. Five investment analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $324.25.

Quanta Services Stock Down 2.5 %

NYSE:PWR opened at $311.97 on Wednesday. The company’s 50-day simple moving average is $327.84 and its 200-day simple moving average is $293.46. 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 fifty-two week low of $187.27 and a fifty-two week high of $350.19. The stock has a market capitalization of $46.05 billion, a P/E ratio of 57.56 and a beta of 1.06.

Quanta Services (NYSE:PWR) last announced its earnings results on Thursday, October 31st. The construction company reported $2.72 earnings per share for the quarter, beating the consensus estimate of $2.46 by $0.26. The company had revenue of $6.49 billion during the quarter, compared to the consensus estimate of $6.56 billion. Quanta Services had a net margin of 3.54% and a return on equity of 16.71%. Quanta Services’s revenue was up 15.5% compared to the same quarter last year. During the same period last year, the firm earned $2.08 earnings per share. On average, equities analysts anticipate that Quanta Services will post 7.9 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Legacy Investment Solutions LLC acquired a new stake in shares of Quanta Services during the 3rd quarter valued at about $31,000. Prestige Wealth Management Group LLC purchased a new stake in shares of Quanta Services in the third quarter valued at approximately $30,000. Versant Capital Management Inc lifted its position in shares of Quanta Services by 62.5% during the 4th quarter. Versant Capital Management Inc now owns 117 shares of the construction company’s stock valued at $37,000 after buying an additional 45 shares in the last quarter. Valley Wealth Managers Inc. acquired a new stake in Quanta Services in the 2nd quarter valued at $33,000. Finally, Quest Partners LLC acquired a new stake in shares of Quanta Services in the second quarter valued at about $35,000. 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.