Quanta Services (NYSE:PWR) Coverage Initiated by Analysts at Piper Sandler

Analysts at Piper Sandler assumed coverage on shares of Quanta Services (NYSE:PWR - Get Free Report) in a research report issued on Tuesday, Marketbeat Ratings reports. The brokerage set an "overweight" rating and a $286.00 price target on the construction company's stock. Piper Sandler's price target would suggest a potential upside of 5.97% from the stock's current price.

A number of other research analysts have also recently weighed in on the stock. BMO Capital Markets upgraded shares of Quanta Services from a "market perform" rating to an "outperform" rating and dropped their price objective for the company from $338.00 to $316.00 in a report on Tuesday, February 25th. Daiwa America lowered Quanta Services from a "strong-buy" rating to a "hold" rating in a report on Monday, February 24th. Bank of America initiated coverage on Quanta Services in a report on Friday, January 24th. They set a "buy" rating and a $407.00 price target on the stock. Truist Financial decreased their price objective on Quanta Services from $399.00 to $398.00 and set a "buy" rating for the company in a research note on Thursday, January 16th. Finally, Guggenheim began coverage on shares of Quanta Services in a research note on Wednesday, January 8th. They set a "neutral" rating on the stock. Seven equities research analysts have rated the stock with a hold rating, fourteen have given a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $319.25.

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Quanta Services Trading Up 2.7 %

Shares of PWR stock traded up $7.20 during trading hours on Tuesday, hitting $269.90. The company had a trading volume of 1,098,254 shares, compared to its average volume of 1,705,356. Quanta Services has a fifty-two week low of $227.08 and a fifty-two week high of $365.88. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.30 and a quick ratio of 1.19. The company's fifty day moving average is $267.21 and its 200 day moving average is $302.53. The stock has a market capitalization of $40.00 billion, a PE ratio of 44.76, a price-to-earnings-growth ratio of 1.41 and a beta of 1.04.

Quanta Services (NYSE:PWR - Get Free Report) last issued its quarterly earnings data on Thursday, February 20th. The construction company reported $2.74 earnings per share for the quarter, beating analysts' consensus estimates of $2.62 by $0.12. Quanta Services had a return on equity of 18.00% and a net margin of 3.82%. The business had revenue of $6.55 billion during the quarter, compared to analysts' expectations of $6.61 billion. Research analysts expect that Quanta Services will post 9.34 earnings per share for the current fiscal year.

Institutional Trading of Quanta Services

Hedge funds have recently made changes to their positions in the company. Janus Henderson Group PLC grew its stake in shares of Quanta Services by 4.9% during the 3rd quarter. Janus Henderson Group PLC now owns 17,221 shares of the construction company's stock worth $5,134,000 after purchasing an additional 800 shares during the period. EP Wealth Advisors LLC raised its position in shares of Quanta Services by 5.9% in the third quarter. EP Wealth Advisors LLC now owns 7,409 shares of the construction company's stock valued at $2,209,000 after buying an additional 415 shares during the last quarter. MML Investors Services LLC lifted its stake in shares of Quanta Services by 8.0% during the 3rd quarter. MML Investors Services LLC now owns 22,086 shares of the construction company's stock worth $6,585,000 after purchasing an additional 1,643 shares during the period. LRI Investments LLC boosted its stake in Quanta Services by 13.5% in the 3rd quarter. LRI Investments LLC now owns 378 shares of the construction company's stock worth $123,000 after buying an additional 45 shares during the last quarter. Finally, Brophy Wealth Management LLC acquired a new position in Quanta Services during the third quarter worth approximately $888,000. Institutional investors and hedge funds 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.