Quanta Services (NYSE:PWR) Upgraded by Roth Capital to “Strong-Buy” Rating

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

Other equities analysts also recently issued reports about the stock. Guggenheim initiated coverage on shares of Quanta Services in a report on Wednesday, January 8th. They set a “neutral” rating on the stock. BMO Capital Markets initiated coverage on shares of Quanta Services in a report on Monday, February 3rd. They set an “outperform” rating and a $338.00 price objective on the stock. Robert W. Baird lifted their price objective 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. Roth Mkm initiated coverage on shares of Quanta Services in a report on Friday. They set a “buy” rating and a $350.00 price objective on the stock. Finally, Daiwa America raised shares of Quanta Services to a “strong-buy” rating in a report on Friday, December 6th. Four equities research analysts have rated the stock with a hold rating, sixteen have issued a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $331.53.

Quanta Services Stock Performance

NYSE PWR opened at $269.75 on Thursday. The company has a fifty day simple moving average of $316.02 and a 200 day simple moving average of $305.18. Quanta Services has a 12-month low of $221.07 and a 12-month high of $365.88. The company has a current ratio of 1.30, a quick ratio of 1.19 and a debt-to-equity ratio of 0.56. The company has a market cap of $39.82 billion, a P/E ratio of 44.73, a PEG ratio of 1.41 and a beta of 1.05.

Quanta Services (NYSE:PWR) last posted its quarterly earnings results on Thursday, February 20th. The construction company reported $2.74 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.62 by $0.12. Quanta Services had a net margin of 3.82% and a return on equity of 18.00%. The business had revenue of $6.55 billion during the quarter, compared to the consensus estimate of $6.61 billion. Sell-side analysts predict that Quanta Services will post 9.34 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Quanta Services

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