Quanta Services (NYSE:PWR) Earns Neutral Rating from Analysts at Mizuho

Key Points

• Mizuho has initiated coverage on Quanta Services with a "neutral" rating and a price target of $360.00, suggesting a potential downside of 3.73% from its current price.
• Other analysts have a more optimistic view, with multiple firms including Goldman Sachs and TD Cowen issuing buy ratings and price targets significantly higher than Mizuho's, reflecting a consensus rating of "Moderate Buy."
• Quanta Services reported a strong quarterly earnings result of $2.48 per share, surpassing estimates, and saw a 21.1% increase in revenue compared to the same quarter last year.

Equities researchers at Mizuho began coverage on shares of Quanta Services (NYSE:PWR - Get Free Report) in a research note issued to investors on Thursday, Marketbeat.com reports. The brokerage set a "neutral" rating and a $360.00 price target on the construction company's stock. Mizuho's target price points to a potential downside of 3.37% from the stock's current price.

Several other research firms have also recently commented on PWR. TD Cowen boosted their price target on Quanta Services from $355.00 to $425.00 and gave the stock a "buy" rating in a research note on Tuesday, August 5th. Evercore ISI boosted their price target on Quanta Services from $360.00 to $410.00 and gave the stock an "outperform" rating in a research note on Friday, August 8th. Wall Street Zen cut Quanta Services from a "buy" rating to a "hold" rating in a research note on Saturday, August 30th. Daiwa America cut Quanta Services from a "strong-buy" rating to a "hold" rating in a research note on Friday, August 1st. Finally, BMO Capital Markets cut Quanta Services from an "outperform" rating to a "market perform" rating and upped their price objective for the company from $352.00 to $400.00 in a research note on Thursday, July 17th. Thirteen investment analysts have rated the stock with a Buy rating and twelve have assigned a Hold rating to the company's stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $397.18.

Quanta Services Stock Down 0.9%

Shares of PWR traded down $3.53 during midday trading on Thursday, reaching $372.56. 1,128,430 shares of the company were exchanged, compared to its average volume of 846,491. The stock has a 50-day moving average price of $387.38 and a 200-day moving average price of $330.88. The company has a market cap of $55.52 billion, a price-to-earnings ratio of 57.67, a P/E/G ratio of 2.21 and a beta of 1.01. Quanta Services has a 1-year low of $227.08 and a 1-year high of $424.94. The company has a current ratio of 1.37, a quick ratio of 1.32 and a debt-to-equity ratio of 0.59.

Quanta Services (NYSE:PWR - Get Free Report) last released its quarterly earnings results on Thursday, July 31st. The construction company reported $2.48 EPS for the quarter, topping 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 for the quarter, compared to analysts' expectations of $6.55 billion. During the same quarter in the previous year, the firm posted $1.90 earnings per share. The company's revenue was up 21.1% compared to the same quarter last year. Quanta Services has set its FY 2025 guidance at 10.280-10.880 EPS. Research analysts expect that Quanta Services will post 9.34 earnings per share for the current year.

Hedge Funds Weigh In On Quanta Services

Institutional investors have recently made changes to their positions in the stock. SCP Investment LP bought a new position in shares of Quanta Services during the first quarter valued at approximately $966,000. Brighton Jones LLC bought a new position in Quanta Services in the 4th quarter worth approximately $298,000. Wealth Enhancement Advisory Services LLC grew its holdings in Quanta Services by 3.7% in the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 68,770 shares of the construction company's stock worth $17,480,000 after buying an additional 2,479 shares in the last quarter. Farther Finance Advisors LLC grew its holdings in Quanta Services by 60.0% in the 1st quarter. Farther Finance Advisors LLC now owns 1,568 shares of the construction company's stock worth $404,000 after buying an additional 588 shares in the last quarter. Finally, Objectivity Squared LLC bought a new position in Quanta Services in the 1st quarter worth approximately $213,000. 90.49% of the stock is 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.