JPMorgan Chase & Co. Issues Positive Forecast for Quanta Services (NYSE:PWR) Stock Price

Quanta Services (NYSE:PWR - Get Free Report) had its price target raised by research analysts at JPMorgan Chase & Co. from $297.00 to $323.00 in a research report issued to clients and investors on Tuesday,Benzinga reports. The firm currently has a "neutral" rating on the construction company's stock. JPMorgan Chase & Co.'s target price points to a potential upside of 4.84% from the company's current price.

Other analysts have also issued reports about the company. Stifel Nicolaus raised their price target on Quanta Services from $374.00 to $388.00 and gave the stock a "buy" rating in a research note on Wednesday, January 22nd. Truist Financial decreased their target price on shares of Quanta Services from $399.00 to $398.00 and set a "buy" rating on the stock in a research report on Thursday, January 16th. Citigroup upped their price target on shares of Quanta Services from $348.00 to $394.00 and gave the stock a "buy" rating in a research report on Monday, December 9th. Guggenheim began coverage on shares of Quanta Services in a research note on Wednesday, January 8th. They set a "neutral" rating for the company. Finally, Northland Securities reaffirmed an "outperform" rating and issued a $328.00 target price (up from $280.00) on shares of Quanta Services in a research report on Friday, November 1st. Four analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $330.06.

Quanta Services Trading Down 0.4 %

NYSE PWR traded down $1.19 during mid-day trading on Tuesday, reaching $308.10. 1,162,727 shares of the stock were exchanged, compared to its average volume of 1,353,427. The stock has a market capitalization of $45.48 billion, a PE ratio of 56.85, a PEG ratio of 1.49 and a beta of 1.06. 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 $193.52 and a 1-year high of $365.88. The business's fifty day simple moving average is $328.59 and its 200 day simple moving average is $301.30.

Quanta Services (NYSE:PWR - Get Free Report) last posted its quarterly earnings data on Thursday, October 31st. The construction company reported $2.72 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.46 by $0.26. The business had revenue of $6.49 billion for the quarter, compared to analysts' expectations 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% on a year-over-year basis. During the same quarter last year, the firm earned $2.08 earnings per share. On average, research analysts anticipate that Quanta Services will post 7.9 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Quanta Services

Several hedge funds and other institutional investors have recently added to or reduced their stakes in PWR. State Street Corp boosted its position in Quanta Services by 1.6% in the 3rd quarter. State Street Corp now owns 5,748,637 shares of the construction company's stock valued at $1,713,956,000 after buying an additional 89,975 shares during the last quarter. Geode Capital Management LLC boosted its holdings in Quanta Services by 1.4% in the third quarter. Geode Capital Management LLC now owns 3,459,411 shares of the construction company's stock valued at $1,027,887,000 after purchasing an additional 46,357 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its stake in Quanta Services by 4.3% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,060,052 shares of the construction company's stock valued at $316,055,000 after purchasing an additional 43,715 shares in the last quarter. Swedbank AB increased its holdings in Quanta Services by 4.6% during the 3rd quarter. Swedbank AB now owns 960,081 shares of the construction company's stock worth $286,248,000 after purchasing an additional 42,579 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. raised its position in shares of Quanta Services by 1.4% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 848,776 shares of the construction company's stock valued at $253,063,000 after purchasing an additional 11,565 shares in the last quarter. 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.