Quanta Services (NYSE:PWR) Now Covered by BMO Capital Markets

Analysts at BMO Capital Markets initiated coverage on shares of Quanta Services (NYSE:PWR - Get Free Report) in a research note issued on Monday,Briefing.com Automated Import reports. The brokerage set an "outperform" rating and a $338.00 price target on the construction company's stock. BMO Capital Markets' price target would indicate a potential upside of 9.70% from the stock's current price.

PWR has been the subject of a number of other research reports. Robert W. Baird raised their price target 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. JPMorgan Chase & Co. raised their target price on Quanta Services from $297.00 to $323.00 and gave the stock a "neutral" rating in a research note on Tuesday, January 28th. Daiwa America raised Quanta Services to a "strong-buy" rating in a report on Friday, December 6th. TD Cowen lifted their target price on Quanta Services from $280.00 to $335.00 and gave the stock a "buy" rating in a report on Tuesday, October 15th. Finally, Daiwa Capital Markets began coverage on shares of Quanta Services in a research report on Friday, December 6th. They set an "outperform" rating and a $355.00 price target for the company. Four equities research analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat, Quanta Services currently has a consensus rating of "Moderate Buy" and an average price target of $330.50.

Quanta Services Stock Down 0.4 %

Shares of PWR stock opened at $308.10 on Monday. The stock's fifty day moving average price is $328.59 and its 200 day moving average price is $301.69. 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 1-year low of $193.52 and a 1-year high of $365.88. The company has a market cap of $45.48 billion, a price-to-earnings ratio of 56.85, a price-to-earnings-growth ratio of 1.54 and a beta of 1.05.

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, beating the consensus estimate of $2.46 by $0.26. The firm had revenue of $6.49 billion for the quarter, compared to the consensus estimate of $6.56 billion. Quanta Services had a net margin of 3.54% and a return on equity of 16.71%. The company's revenue for the quarter was up 15.5% compared to the same quarter last year. During the same quarter in the prior year, the company posted $2.08 earnings per share. On average, research analysts expect that Quanta Services will post 7.9 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Quanta Services

A number of institutional investors have recently added to or reduced their stakes in PWR. State Street Corp raised its position in Quanta Services by 1.6% during the third quarter. State Street Corp now owns 5,748,637 shares of the construction company's stock worth $1,713,956,000 after acquiring an additional 89,975 shares during the period. Geode Capital Management LLC raised its position in shares of Quanta Services by 1.4% during the 3rd quarter. Geode Capital Management LLC now owns 3,459,411 shares of the construction company's stock worth $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 lifted its stake in Quanta Services by 4.3% in 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 buying an additional 43,715 shares in the last quarter. Swedbank AB boosted its holdings in Quanta Services by 4.6% in the 3rd quarter. Swedbank AB now owns 960,081 shares of the construction company's stock worth $286,248,000 after buying an additional 42,579 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. increased its stake in Quanta Services by 1.4% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 848,776 shares of the construction company's stock worth $253,063,000 after buying an additional 11,565 shares in the last quarter. Institutional investors and hedge funds own 90.49% of the company's stock.

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.

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