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

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

A number of other research firms also recently weighed in on PWR. Robert W. Baird boosted their price target on shares of Quanta Services from $320.00 to $333.00 and gave the stock an “outperform” rating in a research note on Friday, November 1st. JPMorgan Chase & Co. boosted their price objective on shares of Quanta Services from $297.00 to $323.00 and gave the company a “neutral” rating in a report on Tuesday, January 28th. Bank of America initiated coverage on shares of Quanta Services in a report on Friday, January 24th. They set a “buy” rating and a $407.00 price objective for the company. Roth Mkm initiated coverage on shares of Quanta Services in a report on Friday. They set a “buy” rating and a $350.00 price objective for the company. Finally, Daiwa America upgraded shares of Quanta Services to a “strong-buy” rating in a report on Friday, December 6th. Four investment analysts have rated the stock with a hold rating, sixteen have issued a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $331.53.

Quanta Services Trading Down 4.1 %

PWR opened at $269.75 on Thursday. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.30 and a quick ratio of 1.19. The company has a market cap of $39.82 billion, a price-to-earnings ratio of 44.73, a price-to-earnings-growth ratio of 1.41 and a beta of 1.05. The firm has a 50 day simple moving average of $316.02 and a 200 day simple moving average of $305.18. Quanta Services has a fifty-two week low of $221.07 and a fifty-two week high of $365.88.

Quanta Services (NYSE:PWR) last posted its quarterly earnings results on Thursday, February 20th. The construction company reported $2.74 earnings per share for the quarter, topping analysts’ consensus estimates of $2.62 by $0.12. The business had revenue of $6.55 billion during 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%. On average, sell-side analysts anticipate that Quanta Services will post 9.34 earnings per share for the current year.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in PWR. Versor Investments LP acquired a new stake in Quanta Services in the 3rd quarter valued at $406,000. Kestra Private Wealth Services LLC increased its position in shares of Quanta Services by 85.0% during the fourth 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 during the period. Principal Financial Group Inc. increased its position in shares of Quanta Services by 5.6% during the third quarter. Principal Financial Group Inc. now owns 207,720 shares of the construction company’s stock valued at $61,932,000 after buying an additional 11,012 shares during the period. Synovus Financial Corp grew its holdings in shares of Quanta Services by 34.0% during the third quarter. Synovus Financial Corp now owns 7,206 shares of the construction company’s stock worth $2,148,000 after purchasing an additional 1,830 shares in the last quarter. Finally, Waverton Investment Management Ltd boosted its stake in Quanta Services by 6.5% in the third quarter. Waverton Investment Management Ltd now owns 41,963 shares of the construction company’s stock worth $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.