JPMorgan Chase & Co. Raises Quanta Services (NYSE:PWR) Price Target to $323.00

Quanta Services (NYSE:PWR) had its price objective hoisted by JPMorgan Chase & Co. from $297.00 to $323.00 in a research note issued on Tuesday,Benzinga reports. The firm currently has a “neutral” rating on the construction company’s stock. JPMorgan Chase & Co.‘s price objective would indicate a potential upside of 8.12% from the stock’s current price.

Several other analysts have also weighed in on PWR. Northland Securities reissued an “outperform” rating and issued a $328.00 target price (up previously from $280.00) on shares of Quanta Services in a report on Friday, November 1st. Guggenheim began coverage on shares of Quanta Services in a research note on Wednesday, January 8th. They issued a “neutral” rating on the stock. Truist Financial cut their target price on shares of Quanta Services from $399.00 to $398.00 and set a “buy” rating for the company in a research report on Thursday, January 16th. Stifel Nicolaus raised their price objective on shares of Quanta Services from $374.00 to $388.00 and gave the stock a “buy” rating in a research note on Wednesday, January 22nd. 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 note on Tuesday, October 15th. Four investment analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, Quanta Services currently has a consensus rating of “Moderate Buy” and a consensus target price of $330.06.

Quanta Services Stock Up 1.6 %

Shares of NYSE PWR opened at $298.73 on Tuesday. The company has a quick ratio of 1.19, a current ratio of 1.23 and a debt-to-equity ratio of 0.58. The firm has a 50-day moving average price of $329.88 and a 200 day moving average price of $300.59. Quanta Services has a 52 week low of $193.52 and a 52 week high of $365.88. The stock has a market capitalization of $44.10 billion, a price-to-earnings ratio of 55.12 and a beta of 1.06.

Quanta Services (NYSE:PWR) last announced its quarterly earnings results on Thursday, October 31st. The construction company reported $2.72 EPS for the quarter, topping the consensus estimate of $2.46 by $0.26. Quanta Services had a return on equity of 16.71% and a net margin of 3.54%. The business had revenue of $6.49 billion for the quarter, compared to analyst estimates of $6.56 billion. During the same quarter in the previous year, the company earned $2.08 EPS. The company’s quarterly revenue was up 15.5% on a year-over-year basis. Equities research analysts anticipate that Quanta Services will post 7.9 EPS for the current fiscal year.

Hedge Funds Weigh In On Quanta Services

A number of hedge funds have recently made changes to their positions in the stock. Avestar Capital LLC raised its position in shares of Quanta Services by 8.0% in the 4th quarter. Avestar Capital LLC now owns 2,934 shares of the construction company’s stock worth $927,000 after buying an additional 218 shares during the period. One Plus One Wealth Management LLC raised its holdings in shares of Quanta Services by 16.4% in the 4th quarter. One Plus One Wealth Management LLC now owns 1,386 shares of the construction company’s stock worth $438,000 after purchasing an additional 195 shares during the period. Gladstone Institutional Advisory LLC lifted its stake in shares of Quanta Services by 2.2% in the 4th quarter. Gladstone Institutional Advisory LLC now owns 8,143 shares of the construction company’s stock valued at $2,574,000 after purchasing an additional 178 shares in the last quarter. Certuity LLC purchased a new stake in shares of Quanta Services during the 4th quarter worth about $346,000. Finally, Leavell Investment Management Inc. increased its position in Quanta Services by 11.7% during the 4th quarter. Leavell Investment Management Inc. now owns 13,332 shares of the construction company’s stock worth $4,214,000 after purchasing an additional 1,400 shares in the last quarter. Institutional investors and hedge funds own 90.49% of the company’s stock.

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.