Quanta Services (NYSE:PWR) Upgraded to Strong-Buy at Roth Capital

Roth Capital upgraded shares of Quanta Services (NYSE:PWR) to a strong-buy rating in a research note released on Thursday,Zacks.com reports.

A number of other research firms have also issued reports on PWR. Daiwa America upgraded shares of Quanta Services to a “strong-buy” rating in a research note on Friday, December 6th. Roth Mkm initiated coverage on shares of Quanta Services in a research note on Friday. They issued a “buy” rating and a $350.00 target price on the stock. Truist Financial lowered their target price on shares of Quanta Services from $399.00 to $398.00 and set a “buy” rating on the stock in a research note on Thursday, January 16th. Guggenheim initiated coverage on shares of Quanta Services in a research note on Wednesday, January 8th. They issued a “neutral” rating on the stock. Finally, Bank of America initiated coverage on shares of Quanta Services in a research note on Friday, January 24th. They issued a “buy” rating and a $407.00 target price on the stock. Four research analysts have rated the stock with a hold rating, sixteen have given a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $331.53.

Quanta Services Stock Down 4.1 %

Quanta Services stock opened at $269.75 on Thursday. The company has a market capitalization of $39.82 billion, a P/E ratio of 44.73, a P/E/G ratio of 1.41 and a beta of 1.05. The firm’s fifty day simple moving average is $316.02 and its 200-day simple moving average is $305.18. The company has a current ratio of 1.30, a quick ratio of 1.19 and a debt-to-equity ratio of 0.56. Quanta Services has a 1-year low of $221.07 and a 1-year high of $365.88.

Quanta Services (NYSE:PWR) last released its quarterly earnings results on Thursday, February 20th. The construction company reported $2.74 earnings per share for the quarter, beating analysts’ consensus estimates of $2.62 by $0.12. The business had revenue of $6.55 billion for the quarter, compared to the consensus estimate of $6.61 billion. Quanta Services had a net margin of 3.82% and a return on equity of 18.00%. Sell-side analysts forecast that Quanta Services will post 9.34 earnings per share for the current fiscal year.

Institutional Trading of Quanta Services

Institutional investors have recently made changes to their positions in the business. Banque Transatlantique SA acquired a new stake in shares of Quanta Services during the 4th quarter valued at about $25,000. Quarry LP acquired a new stake in shares of Quanta Services during the 4th quarter valued at about $26,000. Webster Bank N. A. boosted its position in shares of Quanta Services by 4,050.0% during the 4th quarter. Webster Bank N. A. now owns 83 shares of the construction company’s stock valued at $26,000 after acquiring an additional 81 shares in the last quarter. Sierra Ocean LLC acquired a new stake in shares of Quanta Services during the 4th quarter valued at about $27,000. Finally, Legacy Investment Solutions LLC bought a new position in Quanta Services during the 3rd quarter valued at about $31,000. 90.49% of the stock is currently owned by institutional investors and hedge funds.

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.