Quanta Services (NYSE:PWR) Upgraded at Roth Capital

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

Several other research analysts have also weighed in on PWR. Guggenheim began coverage on Quanta Services in a research report on Wednesday, January 8th. They issued a “neutral” rating on the stock. Daiwa Capital Markets assumed coverage on shares of Quanta Services in a research report on Friday, December 6th. They set an “outperform” rating and a $355.00 price objective on the stock. Northland Securities reissued an “outperform” rating and issued a $328.00 target price (up from $280.00) on shares of Quanta Services in a research report on Friday, November 1st. Stifel Nicolaus raised their price target on shares of Quanta Services from $374.00 to $388.00 and gave the company a “buy” rating in a report on Wednesday, January 22nd. Finally, BMO Capital Markets started coverage on shares of Quanta Services in a research note on Monday, February 3rd. They issued an “outperform” rating and a $338.00 price objective for the company. Four equities research analysts have rated the stock with a hold rating, sixteen have issued a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $331.53.

Quanta Services Trading Down 4.1 %

NYSE:PWR opened at $269.75 on Thursday. The stock’s 50-day moving average is $316.02 and its two-hundred day moving average is $305.58. 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 stock has a market cap of $39.82 billion, a PE ratio of 44.73, a price-to-earnings-growth ratio of 1.41 and a beta of 1.05. 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 released its quarterly earnings data on Thursday, February 20th. The construction company reported $2.74 earnings per share for the quarter, beating the consensus estimate of $2.62 by $0.12. The firm had revenue of $6.55 billion for the quarter, compared to analyst estimates of $6.61 billion. Quanta Services had a net margin of 3.82% and a return on equity of 18.00%. As a group, equities research analysts forecast that Quanta Services will post 9.34 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Quanta Services

Several large investors have recently bought and sold shares of the stock. Versor Investments LP acquired a new position in shares of Quanta Services during the third quarter valued at about $406,000. Kestra Private Wealth Services LLC raised its holdings in Quanta Services by 85.0% in the 4th quarter. Kestra Private Wealth Services LLC now owns 4,752 shares of the construction company’s stock valued at $1,502,000 after acquiring an additional 2,184 shares in the last quarter. Principal Financial Group Inc. lifted its position in shares of Quanta Services by 5.6% in the 3rd quarter. Principal Financial Group Inc. now owns 207,720 shares of the construction company’s stock worth $61,932,000 after acquiring an additional 11,012 shares during the period. Synovus Financial Corp grew its holdings in shares of Quanta Services by 34.0% during the 3rd 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 increased its position in shares of Quanta Services by 6.5% during the third quarter. Waverton Investment Management Ltd now owns 41,963 shares of the construction company’s stock valued at $12,509,000 after purchasing an additional 2,557 shares during the period. 90.49% of the stock is currently owned by institutional investors and hedge funds.

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.