Quanta Services (NYSE:PWR) Coverage Initiated at Roth Mkm

Roth Mkm assumed coverage on shares of Quanta Services (NYSE:PWR) in a note issued to investors on Friday,Briefing.com Automated Import reports. The firm set a “buy” rating and a $350.00 price target on the construction company’s stock. Roth Mkm’s price objective would suggest a potential upside of 24.60% from the company’s current price.

PWR has been the topic of several other reports. Guggenheim assumed coverage on Quanta Services in a research report on Wednesday, January 8th. They set a “neutral” rating on the stock. Robert W. Baird increased their price target on Quanta Services from $320.00 to $333.00 and gave the stock an “outperform” rating in a research report on Friday, November 1st. Daiwa Capital Markets assumed coverage on Quanta Services in a research report on Friday, December 6th. They set an “outperform” rating and a $355.00 price target on the stock. Daiwa America raised Quanta Services to a “strong-buy” rating in a research report on Friday, December 6th. Finally, JPMorgan Chase & Co. raised their target price on Quanta Services from $297.00 to $323.00 and gave the company a “neutral” rating in a research report on Tuesday, January 28th. Four equities research analysts have rated the stock with a hold rating, sixteen have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $331.53.

Quanta Services Stock Performance

Shares of PWR opened at $280.89 on Friday. Quanta Services has a 12 month low of $206.58 and a 12 month high of $365.88. The stock has a fifty day moving average price of $317.38 and a 200-day moving average price of $304.97. The company has a current ratio of 1.23, a quick ratio of 1.19 and a debt-to-equity ratio of 0.58. The firm has a market cap of $41.46 billion, a PE ratio of 51.82, a P/E/G ratio of 1.46 and a beta of 1.05.

Quanta Services (NYSE:PWR) last released its 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 return on equity of 16.71% and a net margin of 3.54%. Equities research analysts predict that Quanta Services will post 7.91 earnings per share for the current fiscal year.

Institutional Trading of Quanta Services

Institutional investors have recently added to or reduced their stakes in the stock. Versor Investments LP acquired a new stake in Quanta Services in the 3rd quarter valued at approximately $406,000. Kestra Private Wealth Services LLC increased its holdings in Quanta Services by 85.0% in the 4th quarter. Kestra Private Wealth Services LLC now owns 4,752 shares of the construction company’s stock valued at $1,502,000 after purchasing an additional 2,184 shares during the last quarter. Principal Financial Group Inc. increased its holdings in Quanta Services by 5.6% in the 3rd quarter. Principal Financial Group Inc. now owns 207,720 shares of the construction company’s stock valued at $61,932,000 after purchasing an additional 11,012 shares during the last quarter. Synovus Financial Corp increased its holdings in Quanta Services by 34.0% in the 3rd quarter. Synovus Financial Corp now owns 7,206 shares of the construction company’s stock valued at $2,148,000 after purchasing an additional 1,830 shares during the last quarter. Finally, Waverton Investment Management Ltd increased its holdings in Quanta Services by 6.5% in the 3rd quarter. Waverton Investment Management Ltd now owns 41,963 shares of the construction company’s stock valued at $12,509,000 after purchasing an additional 2,557 shares during the last quarter. Institutional investors and hedge funds own 90.49% of the company’s stock.

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.