Quanta Services (NYSE:PWR) Now Covered by Analysts at Guggenheim

Equities research analysts at Guggenheim initiated coverage on shares of Quanta Services (NYSE:PWR - Get Free Report) in a research report issued to clients and investors on Wednesday, Marketbeat.com reports. The brokerage set a "neutral" rating on the construction company's stock.

A number of other equities analysts have also issued reports on the company. Citigroup increased their price objective on Quanta Services from $348.00 to $394.00 and gave the stock a "buy" rating in a report on Monday, December 9th. Daiwa Capital Markets began coverage on Quanta Services in a report on Friday, December 6th. They set an "outperform" rating and a $355.00 price target on the stock. Robert W. Baird upped their price objective on shares of Quanta Services from $320.00 to $333.00 and gave the stock an "outperform" rating in a report on Friday, November 1st. Wolfe Research began coverage on shares of Quanta Services in a research note on Thursday, September 19th. They set an "outperform" rating and a $313.00 target price on the stock. Finally, UBS Group upped their price target on shares of Quanta Services from $313.00 to $367.00 and gave the stock a "buy" rating in a research note on Wednesday, October 23rd. Five analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $324.25.

Quanta Services Stock Performance

Shares of NYSE PWR traded down $7.84 during midday trading on Wednesday, hitting $311.97. The company's stock had a trading volume of 1,165,803 shares, compared to its average volume of 937,781. The company has a debt-to-equity ratio of 0.58, a quick ratio of 1.19 and a current ratio of 1.23. Quanta Services has a 1-year low of $187.27 and a 1-year high of $350.19. The firm's fifty day moving average price is $327.84 and its 200-day moving average price is $293.33. The firm has a market cap of $46.05 billion, a P/E ratio of 57.56 and a beta of 1.06.

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

Institutional Investors Weigh In On Quanta Services

Several hedge funds have recently bought and sold shares of PWR. Prestige Wealth Management Group LLC bought a new stake in shares of Quanta Services during the 3rd quarter worth approximately $30,000. Legacy Investment Solutions LLC bought a new position in shares of 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 acquired a new stake in Quanta Services in the second quarter valued at about $35,000. Finally, Versant Capital Management Inc grew its position in Quanta Services by 62.5% in the fourth quarter. Versant Capital Management Inc now owns 117 shares of the construction company's stock valued at $37,000 after acquiring an additional 45 shares during the last quarter. 90.49% of the stock is currently owned by institutional investors and hedge funds.

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.