Quanta Services (NYSE:PWR) Now Covered by Piper Sandler

Stock analysts at Piper Sandler initiated coverage on shares of Quanta Services (NYSE:PWR) in a research report issued on Tuesday,Benzinga reports. The brokerage set an “overweight” rating and a $286.00 price target on the construction company’s stock. Piper Sandler’s price objective suggests a potential upside of 16.70% from the company’s previous close.

Several other brokerages have also weighed in on PWR. B. Riley reaffirmed a “neutral” rating and issued a $300.00 target price (down from $343.00) on shares of Quanta Services in a research report on Wednesday, March 19th. Bank of America began coverage on shares of Quanta Services in a research report on Friday, January 24th. They set a “buy” rating and a $407.00 target price for the company. BMO Capital Markets raised shares of Quanta Services from a “market perform” rating to an “outperform” rating and reduced their price target for the company from $338.00 to $316.00 in a research report on Tuesday, February 25th. Daiwa Capital Markets lowered shares of Quanta Services from an “outperform” rating to a “neutral” rating in a research report on Monday, February 24th. Finally, Guggenheim initiated coverage on shares of Quanta Services in a report on Wednesday, January 8th. They set a “neutral” rating on the stock. Seven research 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 stock. According to MarketBeat.com, Quanta Services presently has an average rating of “Moderate Buy” and a consensus target price of $324.75.

Quanta Services Stock Performance

Quanta Services stock opened at $245.07 on Tuesday. The stock has a fifty day moving average price of $272.20 and a 200 day moving average price of $304.12. The company has a current ratio of 1.30, a quick ratio of 1.19 and a debt-to-equity ratio of 0.56. Quanta Services has a 52 week low of $227.08 and a 52 week high of $365.88. The firm has a market capitalization of $36.32 billion, a P/E ratio of 40.64, a PEG ratio of 1.41 and a beta of 1.04.

Quanta Services (NYSE:PWR) last released its earnings results on Thursday, February 20th. The construction company reported $2.74 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.62 by $0.12. Quanta Services had a net margin of 3.82% and a return on equity of 18.00%. The business had revenue of $6.55 billion for the quarter, compared to analysts’ expectations of $6.61 billion. Equities research analysts anticipate that Quanta Services will post 9.34 earnings per share for the current year.

Institutional Trading of Quanta Services

Institutional investors have recently made changes to their positions in the stock. Vanguard Group Inc. lifted its position in Quanta Services by 1.0% in the 4th quarter. Vanguard Group Inc. now owns 17,009,421 shares of the construction company’s stock worth $5,375,828,000 after buying an additional 161,277 shares in the last quarter. Capital World Investors increased its stake in shares of Quanta Services by 14.1% in the fourth quarter. Capital World Investors now owns 7,223,471 shares of the construction company’s stock worth $2,282,978,000 after acquiring an additional 891,977 shares during the last quarter. Geode Capital Management LLC raised its holdings in shares of Quanta Services by 2.9% during the fourth quarter. Geode Capital Management LLC now owns 3,558,827 shares of the construction company’s stock worth $1,121,830,000 after acquiring an additional 99,416 shares in the last quarter. Invesco Ltd. boosted its position in Quanta Services by 3.7% during the fourth quarter. Invesco Ltd. now owns 1,913,847 shares of the construction company’s stock valued at $604,871,000 after purchasing an additional 68,565 shares during the last quarter. Finally, Norges Bank purchased a new position in Quanta Services in the fourth quarter valued at about $544,937,000. 90.49% of the stock is currently owned by institutional investors and hedge funds.

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.