Roth Capital Upgrades Quanta Services (NYSE:PWR) to “Strong-Buy”

Quanta Services (NYSE:PWR) was upgraded by equities research analysts at Roth Capital to a “strong-buy” rating in a research report issued on Thursday,Zacks.com reports.

PWR has been the topic of a number of other reports. Daiwa America upgraded shares of Quanta Services to a “strong-buy” rating in a research note on Friday, December 6th. Citigroup reduced their price target on shares of Quanta Services from $394.00 to $371.00 and set a “buy” rating on the stock in a research note on Wednesday, January 29th. Roth Mkm assumed coverage on shares of Quanta Services in a report on Friday. They issued a “buy” rating and a $350.00 price objective for the company. Truist Financial dropped their price objective on shares of Quanta Services from $399.00 to $398.00 and set a “buy” rating for the company in a report on Thursday, January 16th. Finally, Bank of America assumed coverage on shares of Quanta Services in a report on Friday, January 24th. They issued a “buy” rating and a $407.00 price objective for the company. Four investment analysts have rated the stock with a hold rating, sixteen have given a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat, Quanta Services presently has an average rating of “Moderate Buy” and a consensus target price of $331.53.

Quanta Services Trading Down 4.1 %

Shares of Quanta Services stock opened at $269.75 on Thursday. The company has a market capitalization of $39.82 billion, a price-to-earnings ratio of 44.73, a PEG ratio of 1.41 and a beta of 1.05. The company has a quick ratio of 1.19, a current ratio of 1.30 and a debt-to-equity ratio of 0.56. Quanta Services has a 12-month low of $221.07 and a 12-month high of $365.88. The firm’s 50-day moving average price is $316.02 and its two-hundred day moving average price is $305.18.

Quanta Services (NYSE:PWR) last posted its quarterly earnings results 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 net margin of 3.82% and a return on equity of 18.00%. The company had revenue of $6.55 billion for the quarter, compared to the consensus estimate of $6.61 billion. On average, analysts forecast that Quanta Services will post 9.34 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in PWR. Geneos Wealth Management Inc. increased its stake in shares of Quanta Services by 0.7% in the 4th quarter. Geneos Wealth Management Inc. now owns 4,167 shares of the construction company’s stock valued at $1,317,000 after acquiring an additional 29 shares in the last quarter. Commonwealth Financial Services LLC increased its stake in shares of Quanta Services by 2.6% in the 4th quarter. Commonwealth Financial Services LLC now owns 1,152 shares of the construction company’s stock valued at $364,000 after acquiring an additional 29 shares in the last quarter. HB Wealth Management LLC increased its stake in shares of Quanta Services by 0.9% in the 4th quarter. HB Wealth Management LLC now owns 3,323 shares of the construction company’s stock valued at $1,050,000 after acquiring an additional 31 shares in the last quarter. Moody Lynn & Lieberson LLC increased its stake in shares of Quanta Services by 0.5% in the 4th quarter. Moody Lynn & Lieberson LLC now owns 6,141 shares of the construction company’s stock valued at $1,941,000 after acquiring an additional 32 shares in the last quarter. Finally, Resurgent Financial Advisors LLC increased its stake in shares of Quanta Services by 0.7% in the 3rd quarter. Resurgent Financial Advisors LLC now owns 4,773 shares of the construction company’s stock valued at $1,423,000 after acquiring an additional 33 shares in the last quarter. 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.