Quanta Services’ (PWR) Buy (B-) Rating Reaffirmed at Weiss Ratings

Quanta Services (NYSE:PWR)‘s stock had its “buy (b-)” rating restated by equities research analysts at Weiss Ratings in a report issued on Wednesday,Weiss Ratings reports.

Several other research firms also recently weighed in on PWR. BMO Capital Markets downgraded Quanta Services from an “outperform” rating to a “market perform” rating and boosted their target price for the company from $352.00 to $400.00 in a report on Thursday, July 17th. DA Davidson boosted their target price on Quanta Services from $305.00 to $395.00 and gave the company a “neutral” rating in a report on Friday, August 1st. Roth Capital reissued a “buy” rating and issued a $450.00 target price (up from $350.00) on shares of Quanta Services in a report on Tuesday, July 29th. Daiwa America cut Quanta Services from a “strong-buy” rating to a “hold” rating in a research report on Friday, August 1st. Finally, Truist Financial boosted their price target on Quanta Services from $472.00 to $521.00 and gave the company a “buy” rating in a research report on Wednesday. Fourteen analysts have rated the stock with a Buy rating and twelve have assigned a Hold rating to the company’s stock. According to MarketBeat, Quanta Services has a consensus rating of “Moderate Buy” and an average price target of $406.50.

Quanta Services Stock Up 5.2%

Shares of NYSE PWR opened at $443.56 on Wednesday. Quanta Services has a 1 year low of $227.08 and a 1 year high of $443.97. The company has a debt-to-equity ratio of 0.59, a current ratio of 1.37 and a quick ratio of 1.32. The company has a market capitalization of $66.09 billion, a price-to-earnings ratio of 68.66, a price-to-earnings-growth ratio of 2.50 and a beta of 1.04. The business has a 50-day moving average of $390.85 and a two-hundred day moving average of $352.87.

Quanta Services (NYSE:PWR) last posted its earnings results on Thursday, July 31st. The construction company reported $2.48 earnings per share for the quarter, beating the consensus estimate of $2.44 by $0.04. Quanta Services had a return on equity of 18.41% and a net margin of 3.73%.The business had revenue of $6.77 billion during the quarter, compared to the consensus estimate of $6.55 billion. During the same period in the previous year, the business earned $1.90 EPS. The business’s quarterly revenue was up 21.1% on a year-over-year basis. Quanta Services has set its FY 2025 guidance at 10.280-10.880 EPS. On average, analysts forecast that Quanta Services will post 9.34 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Quanta Services

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Cullen Frost Bankers Inc. acquired a new stake in shares of Quanta Services in the 1st quarter worth approximately $25,000. Copia Wealth Management grew its holdings in shares of Quanta Services by 509.1% in the 2nd quarter. Copia Wealth Management now owns 67 shares of the construction company’s stock worth $25,000 after acquiring an additional 56 shares during the period. SOA Wealth Advisors LLC. grew its holdings in shares of Quanta Services by 159.3% in the 2nd quarter. SOA Wealth Advisors LLC. now owns 70 shares of the construction company’s stock worth $26,000 after acquiring an additional 43 shares during the period. Darwin Wealth Management LLC acquired a new stake in shares of Quanta Services in the 2nd quarter worth approximately $26,000. Finally, Solstein Capital LLC grew its holdings in shares of Quanta Services by 185.7% in the 2nd quarter. Solstein Capital LLC now owns 80 shares of the construction company’s stock worth $30,000 after acquiring an additional 52 shares during the period. 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.