Quanta Services (NYSE:PWR) Upgraded to "Buy" at Jefferies Financial Group

Key Points

• Quanta Services was upgraded to a "Buy" rating by Jefferies Financial Group, with a new price target of $469.00, representing a 20.30% potential upside from its previous close.
• Despite the upgrade, other analysts have mixed opinions, with Northland Capital Markets downgrading the stock to "hold", while Roth Capital maintained a "buy" rating with a target of $450.00.
• The company reported a quarterly earnings per share of $2.48, which surpassed analysts' expectations, alongside a 21.1% increase in revenue year-over-year, reaching $6.77 billion.

Quanta Services (NYSE:PWR - Get Free Report) was upgraded by equities research analysts at Jefferies Financial Group from a "hold" rating to a "buy" rating in a research report issued to clients and investors on Wednesday, MarketBeat.com reports. The firm currently has a $469.00 price objective on the construction company's stock, up from their prior price objective of $398.00. Jefferies Financial Group's price objective indicates a potential upside of 20.30% from the stock's previous close.

A number of other analysts also recently commented on PWR. Northland Capmk downgraded shares of Quanta Services from a "strong-buy" rating to a "hold" rating in a report on Wednesday, July 2nd. Roth Capital reiterated a "buy" rating and set a $450.00 price target (up from $350.00) on shares of Quanta Services in a research note on Tuesday, July 29th. BMO Capital Markets downgraded shares of Quanta Services from an "outperform" rating to a "market perform" rating and raised their price objective for the stock from $352.00 to $400.00 in a research report on Thursday, July 17th. The Goldman Sachs Group reissued a "buy" rating and set a $414.00 price objective (up previously from $364.00) on shares of Quanta Services in a report on Wednesday, June 4th. Finally, UBS Group boosted their price objective on shares of Quanta Services from $413.00 to $474.00 and gave the company a "buy" rating in a research report on Friday, July 25th. Thirteen analysts have rated the stock with a Buy rating and twelve have assigned a Hold rating to the company's stock. According to MarketBeat, Quanta Services has a consensus rating of "Moderate Buy" and an average price target of $404.27.

Quanta Services Stock Performance

Quanta Services stock opened at $389.85 on Wednesday. The company has a market capitalization of $58.09 billion, a PE ratio of 60.35, a P/E/G ratio of 2.35 and a beta of 1.01. Quanta Services has a fifty-two week low of $227.08 and a fifty-two week high of $424.94. The company has a debt-to-equity ratio of 0.59, a quick ratio of 1.32 and a current ratio of 1.37. The company has a 50 day moving average price of $388.14 and a 200-day moving average price of $341.41.

Quanta Services (NYSE:PWR - Get Free Report) last issued its quarterly earnings data on Thursday, July 31st. The construction company reported $2.48 EPS for the quarter, topping analysts' consensus estimates of $2.44 by $0.04. The company had revenue of $6.77 billion during the quarter, compared to the consensus estimate of $6.55 billion. Quanta Services had a net margin of 3.73% and a return on equity of 18.41%. Quanta Services's revenue for the quarter was up 21.1% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.90 earnings per share. Quanta Services has set its FY 2025 guidance at 10.280-10.880 EPS. As a group, equities analysts forecast that Quanta Services will post 9.34 earnings per share for the current year.

Hedge Funds Weigh In On Quanta Services

A number of large investors have recently bought and sold shares of the company. SCP Investment LP acquired a new stake in shares of Quanta Services in the 1st quarter valued at approximately $966,000. Brighton Jones LLC acquired a new stake in shares of Quanta Services in the 4th quarter valued at approximately $298,000. Swedbank AB boosted its holdings in shares of Quanta Services by 50.5% in the 1st quarter. Swedbank AB now owns 1,197,062 shares of the construction company's stock valued at $304,269,000 after buying an additional 401,418 shares during the last quarter. Wealth Enhancement Advisory Services LLC lifted its holdings in Quanta Services by 3.7% during the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 68,770 shares of the construction company's stock valued at $17,480,000 after purchasing an additional 2,479 shares during the last quarter. Finally, Farther Finance Advisors LLC lifted its holdings in Quanta Services by 60.0% during the 1st quarter. Farther Finance Advisors LLC now owns 1,568 shares of the construction company's stock valued at $404,000 after purchasing an additional 588 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.

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