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

BMO Capital Markets upgraded shares of Quanta Services (NYSE:PWR) from a market perform rating to an outperform rating in a research report report published on Tuesday, MarketBeat Ratings reports. BMO Capital Markets currently has $316.00 price objective on the construction company’s stock, down from their previous price objective of $338.00.

PWR has been the subject of a number of other reports. Roth Mkm began coverage on Quanta Services in a research note on Friday, February 21st. They issued a “buy” rating and a $350.00 target price for the company. JPMorgan Chase & Co. raised their price objective on shares of Quanta Services from $297.00 to $323.00 and gave the company a “neutral” rating in a research report on Tuesday, January 28th. Roth Capital upgraded shares of Quanta Services to a “strong-buy” rating in a research report on Thursday, February 20th. Stifel Nicolaus lowered their price target on shares of Quanta Services from $388.00 to $323.00 and set a “buy” rating for the company in a report on Monday. Finally, Bank of America assumed coverage on Quanta Services in a report on Friday, January 24th. They set a “buy” rating and a $407.00 price objective on the stock. Six investment analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $326.95.

Quanta Services Price Performance

NYSE:PWR opened at $258.83 on Tuesday. The company has a quick ratio of 1.19, a current ratio of 1.30 and a debt-to-equity ratio of 0.56. The firm has a market cap of $38.36 billion, a PE ratio of 42.92, a price-to-earnings-growth ratio of 1.41 and a beta of 1.05. Quanta Services has a 12 month low of $227.11 and a 12 month high of $365.88. The company’s 50-day moving average price is $310.62 and its two-hundred day moving average price is $305.40.

Quanta Services (NYSE:PWR) last released its quarterly earnings results on Thursday, February 20th. The construction company reported $2.74 EPS for the quarter, topping 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 business had revenue of $6.55 billion for the quarter, compared to analyst estimates of $6.61 billion. On average, equities analysts anticipate that Quanta Services will post 9.34 EPS for the current fiscal year.

Institutional Trading of Quanta Services

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