Quanta Services' (PWR) "Overweight" Rating Reaffirmed at Piper Sandler

Quanta Services (NYSE:PWR - Get Free Report)'s stock had its "overweight" rating restated by equities researchers at Piper Sandler in a research note issued to investors on Tuesday, Marketbeat Ratings reports. They currently have a $370.00 price target on the construction company's stock, up from their prior price target of $360.00. Piper Sandler's price objective points to a potential upside of 9.30% from the company's previous close.

PWR has been the subject of several other research reports. TD Cowen lifted their price target on Quanta Services from $335.00 to $355.00 and gave the company a "buy" rating in a research note on Wednesday, May 7th. BMO Capital Markets set a $352.00 price objective on Quanta Services in a research note on Friday, May 2nd. Daiwa America upgraded Quanta Services from a "hold" rating to a "strong-buy" rating in a research report on Friday, April 11th. JPMorgan Chase & Co. boosted their price target on shares of Quanta Services from $297.00 to $323.00 and gave the stock a "neutral" rating in a research note on Tuesday, January 28th. Finally, Daiwa Capital Markets lowered shares of Quanta Services from an "outperform" rating to a "neutral" rating in a research report on Monday, February 24th. Six investment analysts have rated the stock with a hold rating, fifteen have issued a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $344.85.

Quanta Services Stock Performance

Shares of PWR traded down $1.80 during trading hours on Tuesday, hitting $338.52. The stock had a trading volume of 60,075 shares, compared to its average volume of 1,554,136. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.30 and a quick ratio of 1.19. Quanta Services has a 12 month low of $227.08 and a 12 month high of $365.88. The firm has a market capitalization of $50.19 billion, a PE ratio of 56.14, a PEG ratio of 1.41 and a beta of 1.02. The stock has a fifty day moving average price of $293.45 and a 200 day moving average price of $303.24.

Quanta Services (NYSE:PWR - Get Free Report) last issued its quarterly earnings data on Thursday, May 1st. The construction company reported $1.78 earnings per share for the quarter, topping the consensus estimate of $1.72 by $0.06. Quanta Services had a return on equity of 18.00% and a net margin of 3.82%. The company had revenue of $6.23 billion for the quarter, compared to analysts' expectations of $5.88 billion. During the same period in the previous year, the firm posted $1.41 earnings per share. The firm's revenue for the quarter was up 23.9% on a year-over-year basis. Analysts anticipate that Quanta Services will post 9.34 EPS for the current year.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of PWR. Banque Transatlantique SA acquired a new position in shares of Quanta Services during the 4th quarter valued at $25,000. Cullen Frost Bankers Inc. acquired a new position in shares of Quanta Services during the first quarter valued at approximately $25,000. Webster Bank N. A. boosted its holdings in Quanta Services by 4,050.0% during the fourth quarter. Webster Bank N. A. now owns 83 shares of the construction company's stock worth $26,000 after buying an additional 81 shares in the last quarter. Quarry LP purchased a new position in shares of Quanta Services in the fourth quarter worth approximately $26,000. Finally, Sierra Ocean LLC acquired a new position in Quanta Services in the 4th quarter worth approximately $27,000. 90.49% of the stock is owned by hedge funds and other 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.