Quanta Services (NYSE:PWR) Upgraded by Wall Street Zen to "Buy" Rating

Key Points

• Quanta Services has received a significant upgrade from Wall Street Zen, moving from a "hold" to a "buy" rating, reflecting positive confidence in the company's performance.
• Multiple analysts, including Goldman Sachs and UBS, have set aggressive price targets for Quanta Services, with expectations reaching up to $474.00.
• The company's recent earnings report showed a strong revenue increase of 21.1% year-over-year, reflecting robust growth in demand for its infrastructure solutions.

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

A number of other equities analysts also recently commented on the company. Argus set a $375.00 price objective on Quanta Services in a research report on Monday, May 5th. The Goldman Sachs Group reiterated a "buy" rating and set a $414.00 price target (up previously from $364.00) on shares of Quanta Services in a report on Wednesday, June 4th. UBS Group lifted their price objective on shares of Quanta Services from $413.00 to $474.00 and gave the stock a "buy" rating in a research report on Friday, July 25th. BMO Capital Markets lowered Quanta Services from an "outperform" rating to a "market perform" rating and increased their target price for the company from $352.00 to $400.00 in a report on Thursday, July 17th. Finally, DA Davidson lifted their price target on Quanta Services from $305.00 to $395.00 and gave the stock a "neutral" rating in a report on Friday, August 1st. Thirteen analysts have rated the stock with a Buy rating and twelve have given a Hold rating to the company's stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $392.45.

Quanta Services Stock Performance

NYSE PWR opened at $379.58 on Friday. The stock has a fifty day simple moving average of $385.24 and a 200-day simple moving average of $325.07. The company has a current ratio of 1.37, a quick ratio of 1.32 and a debt-to-equity ratio of 0.59. The stock has a market cap of $56.56 billion, a PE ratio of 58.76, a P/E/G ratio of 2.25 and a beta of 1.10. Quanta Services has a twelve month low of $227.08 and a twelve month high of $424.94.

Quanta Services (NYSE:PWR - Get Free Report) last posted its earnings results on Thursday, July 31st. The construction company reported $2.48 EPS for the quarter, beating analysts' consensus estimates of $2.44 by $0.04. Quanta Services had a net margin of 3.73% and a return on equity of 18.41%. The company had revenue of $6.77 billion for the quarter, compared to analysts' expectations of $6.55 billion. During the same quarter in the prior year, the company posted $1.90 earnings per share. Quanta Services's revenue for the quarter 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. Equities analysts anticipate that Quanta Services will post 9.34 earnings per share for the current year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Banque Transatlantique SA acquired a new position in Quanta Services during the 4th quarter worth approximately $25,000. Cullen Frost Bankers Inc. acquired a new position in shares of Quanta Services during the first quarter worth $25,000. Copia Wealth Management lifted its position in shares of Quanta Services by 509.1% during the second quarter. Copia Wealth Management now owns 67 shares of the construction company's stock worth $25,000 after purchasing an additional 56 shares in the last quarter. Quarry LP acquired a new stake in Quanta Services during the 4th quarter valued at $26,000. Finally, SOA Wealth Advisors LLC. increased its stake in Quanta Services by 159.3% during the 2nd quarter. SOA Wealth Advisors LLC. now owns 70 shares of the construction company's stock worth $26,000 after buying an additional 43 shares during the period. 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.

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