Quanta Services (NYSE:PWR) Coverage Initiated by Analysts at Daiwa Capital Markets

Equities researchers at Daiwa Capital Markets began coverage on shares of Quanta Services (NYSE:PWR - Get Free Report) in a report released on Friday,Briefing.com Automated Import reports. The firm set an "outperform" rating and a $355.00 price target on the construction company's stock. Daiwa Capital Markets' target price suggests a potential upside of 7.05% from the company's previous close.

Several other equities analysts have also commented on PWR. Truist Financial boosted their price target on Quanta Services from $319.00 to $358.00 and gave the company a "buy" rating in a research note on Wednesday, October 9th. TD Cowen increased their price target on shares of Quanta Services from $280.00 to $335.00 and gave the stock a "buy" rating in a report on Tuesday, October 15th. Northland Securities reaffirmed an "outperform" rating and issued a $328.00 price objective (up from $280.00) on shares of Quanta Services in a report on Friday, November 1st. JPMorgan Chase & Co. started coverage on shares of Quanta Services in a research report on Monday, October 7th. They set a "neutral" rating and a $297.00 target price for the company. Finally, Stifel Nicolaus increased their price target on Quanta Services from $283.00 to $342.00 and gave the stock a "buy" rating in a research report on Thursday, October 10th. Four analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company's stock. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $316.81.

Quanta Services Trading Down 1.0 %

Shares of Quanta Services stock traded down $3.36 during trading on Friday, hitting $331.61. The stock had a trading volume of 483,611 shares, compared to its average volume of 892,146. The firm's fifty day simple moving average is $318.96 and its 200-day simple moving average is $284.83. The stock has a market cap of $48.95 billion, a PE ratio of 61.10 and a beta of 1.03. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.23 and a quick ratio of 1.19. Quanta Services has a 12 month low of $187.27 and a 12 month high of $350.19.

Quanta Services (NYSE:PWR - Get Free Report) last announced its quarterly earnings data on Thursday, October 31st. The construction company reported $2.72 earnings per share for the quarter, beating analysts' consensus estimates of $2.46 by $0.26. Quanta Services had a net margin of 3.54% and a return on equity of 16.71%. The company had revenue of $6.49 billion during the quarter, compared to analyst estimates of $6.56 billion. During the same quarter last year, the business posted $2.08 EPS. The firm's revenue for the quarter was up 15.5% on a year-over-year basis. As a group, sell-side analysts expect that Quanta Services will post 7.9 EPS for the current fiscal year.

Institutional Trading of Quanta Services

Several institutional investors have recently modified their holdings of PWR. Prestige Wealth Management Group LLC acquired a new position in Quanta Services in the 3rd quarter valued at $30,000. Legacy Investment Solutions LLC acquired a new position in Quanta Services in the 3rd quarter valued at $31,000. Valley Wealth Managers Inc. acquired a new position in shares of Quanta Services during the 2nd quarter worth $33,000. Quest Partners LLC purchased a new position in shares of Quanta Services in the 2nd quarter valued at about $35,000. Finally, CarsonAllaria Wealth Management Ltd. acquired a new stake in shares of Quanta Services in the second quarter valued at about $38,000. Hedge funds and other institutional investors 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.

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