Quanta Services (NYSE:PWR) Rating Increased to Strong-Buy at Piper Sandler

Quanta Services (NYSE:PWR - Get Free Report) was upgraded by analysts at Piper Sandler to a "strong-buy" rating in a research note issued on Monday, April 7th,Zacks.com reports.

Other analysts have also recently issued reports about the company. Daiwa Capital Markets cut Quanta Services from an "outperform" rating to a "neutral" rating in a research report on Monday, February 24th. Citigroup reduced their price objective on shares of Quanta Services from $394.00 to $371.00 and set a "buy" rating for the company in a report on Wednesday, January 29th. JPMorgan Chase & Co. boosted their price target on shares of Quanta Services from $297.00 to $323.00 and gave the stock a "neutral" rating in a research report on Tuesday, January 28th. Guggenheim began coverage on shares of Quanta Services in a report on Wednesday, January 8th. They issued a "neutral" rating for the company. Finally, BMO Capital Markets raised Quanta Services from a "market perform" rating to an "outperform" rating and dropped their target price for the stock from $338.00 to $316.00 in a report on Tuesday, February 25th. Seven research analysts have rated the stock with a hold rating, fourteen have issued a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $319.25.

Quanta Services Stock Up 0.7 %

Shares of Quanta Services stock traded up $1.90 during trading hours on Monday, hitting $271.47. 402,114 shares of the company's stock traded hands, compared to its average volume of 1,686,137. 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 twelve month low of $227.08 and a twelve month high of $365.88. The stock has a 50 day simple moving average of $267.21 and a 200-day simple moving average of $302.57. The company has a market cap of $40.23 billion, a PE ratio of 45.02, a PEG ratio of 1.41 and a beta of 1.04.

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Quanta Services (NYSE:PWR - Get Free Report) last announced its quarterly earnings data 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 net margin of 3.82% and a return on equity of 18.00%. The company had revenue of $6.55 billion during the quarter, compared to analyst estimates of $6.61 billion. Equities research analysts anticipate that Quanta Services will post 9.34 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in PWR. Geneos Wealth Management Inc. lifted its stake in Quanta Services by 0.7% in the 4th quarter. Geneos Wealth Management Inc. now owns 4,167 shares of the construction company's stock valued at $1,317,000 after acquiring an additional 29 shares in the last quarter. Commonwealth Financial Services LLC boosted its stake in shares of Quanta Services by 2.6% during the 4th quarter. Commonwealth Financial Services LLC now owns 1,152 shares of the construction company's stock worth $364,000 after acquiring an additional 29 shares during the period. HB Wealth Management LLC raised its position in shares of Quanta Services by 0.9% in the fourth quarter. HB Wealth Management LLC now owns 3,323 shares of the construction company's stock valued at $1,050,000 after purchasing an additional 31 shares during the period. Moody Lynn & Lieberson LLC lifted its holdings in Quanta Services by 0.5% during the 4th quarter. Moody Lynn & Lieberson LLC now owns 6,141 shares of the construction company's stock worth $1,941,000 after purchasing an additional 32 shares during the last quarter. Finally, Larson Financial Group LLC boosted its position in shares of Quanta Services by 7.8% in the fourth quarter. Larson Financial Group LLC now owns 456 shares of the construction company's stock valued at $144,000 after acquiring an additional 33 shares during the period. 90.49% of the stock is owned by hedge funds and other institutional investors.

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.