Quanta Services (NYSE:PWR) Upgraded to “Strong-Buy” at Piper Sandler

Quanta Services (NYSE:PWR) was upgraded by stock analysts at Piper Sandler to a “strong-buy” rating in a report released on Monday,Zacks.com reports.

Other research analysts also recently issued reports about the company. Guggenheim assumed coverage on Quanta Services in a research note on Wednesday, January 8th. They set a “neutral” rating on the stock. Roth Capital upgraded Quanta Services to a “strong-buy” rating in a research report on Thursday, February 20th. Stifel Nicolaus dropped their price objective on Quanta Services from $388.00 to $323.00 and set a “buy” rating on the stock in a report on Monday, February 24th. Daiwa America downgraded Quanta Services from a “strong-buy” rating to a “hold” rating in a research report on Monday, February 24th. Finally, Bank of America assumed coverage on Quanta Services in a report on Friday, January 24th. They issued a “buy” rating and a $407.00 price target for the company. Seven analysts have rated the stock with a hold rating, fourteen have issued a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $321.05.

Quanta Services Trading Down 0.2 %

Shares of NYSE PWR opened at $244.76 on Monday. The stock has a market capitalization of $36.27 billion, a P/E ratio of 40.59, a PEG ratio of 1.41 and a beta of 1.04. 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 business’s 50 day moving average is $270.15 and its two-hundred day moving average is $303.38. Quanta Services has a 1-year low of $227.08 and a 1-year high of $365.88.

Quanta Services (NYSE:PWR) last posted 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. The business had revenue of $6.55 billion for the quarter, compared to analysts’ expectations of $6.61 billion. Quanta Services had a net margin of 3.82% and a return on equity of 18.00%. As a group, research analysts expect that Quanta Services will post 9.34 EPS for the current year.

Institutional Trading of Quanta Services

A number of institutional investors have recently modified their holdings of the business. Banque Transatlantique SA purchased a new stake in shares of Quanta Services during the fourth quarter worth about $25,000. Webster Bank N. A. grew its holdings in Quanta Services by 4,050.0% during the fourth quarter. Webster Bank N. A. now owns 83 shares of the construction company’s stock valued at $26,000 after purchasing an additional 81 shares during the period. Quarry LP bought a new stake in shares of Quanta Services during the fourth quarter valued at approximately $26,000. Sierra Ocean LLC purchased a new stake in Quanta Services during the 4th quarter valued at $27,000. Finally, Prestige Wealth Management Group LLC purchased a new position in Quanta Services during the 3rd quarter valued at $30,000. 90.49% of the stock is currently owned by hedge funds and other institutional investors.

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.