Quanta Services, Inc. (NYSE:PWR) Receives Average Rating of "Moderate Buy" from Brokerages

Shares of Quanta Services, Inc. (NYSE:PWR - Get Free Report) have been assigned an average recommendation of "Moderate Buy" from the twenty-two research firms that are covering the company, Marketbeat.com reports. Six analysts have rated the stock with a hold recommendation, fifteen have assigned a buy recommendation and one has given a strong buy recommendation to the company. The average twelve-month price target among brokerages that have issued a report on the stock in the last year is $326.95.

A number of research analysts have issued reports on the stock. Roth Mkm began coverage on shares of Quanta Services in a report on Friday, February 21st. They issued a "buy" rating and a $350.00 target price on the stock. Daiwa America lowered shares of Quanta Services from a "strong-buy" rating to a "hold" rating in a research report on Monday, February 24th. Truist Financial dropped their target price on Quanta Services from $399.00 to $398.00 and set a "buy" rating for the company in a research note on Thursday, January 16th. Guggenheim initiated coverage on Quanta Services in a research note on Wednesday, January 8th. They issued a "neutral" rating on the stock. Finally, BMO Capital Markets raised shares of Quanta Services from a "market perform" rating to an "outperform" rating and dropped their price objective for the company from $338.00 to $316.00 in a research note on Tuesday, February 25th.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the company. Vanguard Group Inc. lifted its holdings 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 lifted 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 in the last quarter. State Street Corp boosted its holdings in Quanta Services by 1.6% in the third quarter. State Street Corp now owns 5,748,637 shares of the construction company's stock valued at $1,713,956,000 after purchasing an additional 89,975 shares during the last quarter. Geode Capital Management LLC grew its stake in Quanta Services by 2.9% during the 4th quarter. Geode Capital Management LLC now owns 3,558,827 shares of the construction company's stock valued at $1,121,830,000 after purchasing an additional 99,416 shares in the last quarter. Finally, Invesco Ltd. grew its stake in Quanta Services by 3.7% during the 4th 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 in the last quarter. 90.49% of the stock is currently owned by hedge funds and other institutional investors.

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Quanta Services Price Performance

Shares of PWR traded down $6.77 during mid-day trading on Wednesday, reaching $239.25. 95,091 shares of the company's stock were exchanged, compared to its average volume of 1,715,227. The company has a quick ratio of 1.19, a current ratio of 1.30 and a debt-to-equity ratio of 0.56. Quanta Services has a 52-week low of $227.11 and a 52-week high of $365.88. The company has a market cap of $35.46 billion, a price-to-earnings ratio of 39.68, a PEG ratio of 1.41 and a beta of 1.10. The company has a 50-day simple moving average of $301.17 and a two-hundred day simple moving average of $305.31.

Quanta Services (NYSE:PWR - Get Free Report) last released its quarterly earnings results on Thursday, February 20th. The construction company reported $2.74 earnings per share for the quarter, topping the consensus estimate of $2.62 by $0.12. Quanta Services had a return on equity of 18.00% and a net margin of 3.82%. The company had revenue of $6.55 billion during the quarter, compared to the consensus estimate of $6.61 billion. On average, sell-side analysts predict that Quanta Services will post 9.34 EPS for the current fiscal year.

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.