Quanta Services (NYSE:PWR) Raised to Buy at Wall Street Zen

Quanta Services (NYSE:PWR - Get Free Report) was upgraded by stock analysts at Wall Street Zen from a "hold" rating to a "buy" rating in a research report issued to clients and investors on Friday.

Other research analysts have also issued reports about the stock. Argus set a $375.00 target price on shares of Quanta Services in a report on Monday, May 5th. B. Riley upped their target price on shares of Quanta Services from $300.00 to $355.00 and gave the company a "neutral" rating in a report on Friday, May 2nd. TD Cowen upped their target price on shares of Quanta Services from $335.00 to $355.00 and gave the company a "buy" rating in a report on Wednesday, May 7th. BMO Capital Markets set a $352.00 target price on shares of Quanta Services in a report on Friday, May 2nd. Finally, Evercore ISI upped their target price on shares of Quanta Services from $331.00 to $360.00 and gave the company an "outperform" rating in a report on Friday, May 2nd. Six investment analysts have rated the stock with a hold rating, fifteen have given a buy rating and two have issued a strong buy rating to the company's stock. According to MarketBeat.com, Quanta Services currently has an average rating of "Moderate Buy" and an average price target of $349.65.

Quanta Services Price Performance

Shares of NYSE PWR traded up $2.21 during trading on Friday, hitting $381.68. 3,687,738 shares of the company were exchanged, compared to its average volume of 972,807. The company has a market cap of $56.59 billion, a price-to-earnings ratio of 61.56, a PEG ratio of 2.95 and a beta of 1.07. Quanta Services has a 1 year low of $227.08 and a 1 year high of $382.79. The firm's fifty day moving average price is $336.76 and its 200 day moving average price is $307.14. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.31 and a quick ratio of 1.26.

Quanta Services (NYSE:PWR - Get Free Report) last released its quarterly earnings data on Thursday, May 1st. The construction company reported $1.78 EPS for the quarter, topping the consensus estimate of $1.72 by $0.06. Quanta Services had a net margin of 3.74% and a return on equity of 18.06%. The business had revenue of $6.23 billion for the quarter, compared to analyst estimates of $5.88 billion. During the same period in the previous year, the firm earned $1.41 EPS. The business's revenue for the quarter was up 23.9% compared to the same quarter last year. On average, sell-side analysts expect that Quanta Services will post 9.34 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Quanta Services

Several large investors have recently bought and sold shares of PWR. Allstate Corp acquired a new position in shares of Quanta Services in the 4th quarter worth approximately $1,357,000. Brighton Jones LLC acquired a new position in shares of Quanta Services in the fourth quarter worth about $298,000. Farther Finance Advisors LLC boosted its holdings in shares of Quanta Services by 60.0% in the first 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 during the period. Wealth Enhancement Advisory Services LLC boosted its holdings in shares of Quanta Services by 3.7% in the first 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 during the period. Finally, Objectivity Squared LLC acquired a new position in shares of Quanta Services in the first quarter worth about $213,000. Institutional investors and hedge funds 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.

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