Quanta Services (NYSE:PWR) Upgraded at BMO Capital Markets

Quanta Services (NYSE:PWR) was upgraded by stock analysts at BMO Capital Markets from a “market perform” rating to an “outperform” rating in a report issued on Tuesday,Briefing.com Automated Import reports. The firm currently has a $316.00 price objective on the construction company’s stock, down from their prior price objective of $338.00. BMO Capital Markets’ target price would suggest a potential upside of 21.64% from the company’s previous close.

Other analysts also recently issued reports about the company. JPMorgan Chase & Co. upped their price objective on Quanta Services from $297.00 to $323.00 and gave the stock a “neutral” rating in a research report on Tuesday, January 28th. Daiwa America upgraded Quanta Services to a “strong-buy” rating in a research report on Friday, December 6th. Northland Securities restated an “outperform” rating and set a $328.00 price objective (up from $280.00) on shares of Quanta Services in a research report on Friday, November 1st. Daiwa Capital Markets downgraded Quanta Services from an “outperform” rating to a “neutral” rating in a research report on Monday. Finally, Guggenheim began coverage on Quanta Services in a report on Wednesday, January 8th. They issued a “neutral” rating for the company. Five research analysts have rated the stock with a hold rating, fifteen have issued a buy rating and two have 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 price target of $326.95.

Quanta Services Stock Performance

NYSE:PWR opened at $259.79 on Tuesday. The stock has a fifty day moving average price of $314.37 and a 200-day moving average price of $305.96. The company has a market cap of $38.35 billion, a price-to-earnings ratio of 43.08, a PEG ratio of 1.41 and a beta of 1.05. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.19 and a current ratio of 1.30. Quanta Services has a fifty-two week low of $227.11 and a fifty-two week high of $365.88.

Quanta Services (NYSE:PWR) last released its 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. Quanta Services had a return on equity of 18.00% and a net margin of 3.82%. The firm had revenue of $6.55 billion during the quarter, compared to the consensus estimate of $6.61 billion. As a group, equities analysts anticipate that Quanta Services will post 9.34 EPS for the current fiscal year.

Hedge Funds Weigh In On Quanta Services

A number of large investors have recently modified their holdings of the company. United Advisor Group LLC bought a new position in shares of Quanta Services in the 4th quarter worth $279,000. Challenger Wealth Management purchased a new stake in Quanta Services in the 4th quarter valued at $610,000. Mackenzie Financial Corp raised its position in Quanta Services by 5.4% in the 4th quarter. Mackenzie Financial Corp now owns 13,242 shares of the construction company’s stock valued at $4,185,000 after buying an additional 677 shares during the last quarter. Forum Financial Management LP raised its position in Quanta Services by 8.7% in the 4th quarter. Forum Financial Management LP now owns 3,839 shares of the construction company’s stock valued at $1,213,000 after buying an additional 307 shares during the last quarter. Finally, Castlekeep Investment Advisors LLC purchased a new stake in Quanta Services in the 4th quarter valued at $306,000. 90.49% of the stock is currently owned by institutional investors.

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.