Quanta Services' (PWR) Buy (B-) Rating Reaffirmed at Weiss Ratings

Key Points

• Quanta Services' stock has received a "buy (B-)" rating reaffirmed by Weiss Ratings, reflecting positive sentiment from multiple analysts amidst varied target price adjustments.
• For the last quarter, Quanta Services reported an EPS of $2.48, surpassing estimates, with a revenue of $6.77 billion, marking a 21.1% year-over-year increase.
• Institutional ownership of Quanta Services stands at 90.49%, indicating strong backing from investment firms, with notable increases in stakes by major players like Vanguard and JPMorgan Chase.

Quanta Services (NYSE:PWR - Get Free Report)'s stock had its "buy (b-)" rating reiterated by Weiss Ratings in a research note issued on Wednesday,Weiss Ratings reports.

Several other equities research analysts have also recently issued reports on PWR. Roth Capital reissued a "buy" rating and set a $450.00 target price (up previously from $350.00) on shares of Quanta Services in a research note on Tuesday, July 29th. Sanford C. Bernstein cut Quanta Services from an "outperform" rating to a "market perform" rating and set a $410.00 target price for the company. in a research note on Monday, July 28th. Jefferies Financial Group raised Quanta Services from a "hold" rating to a "buy" rating and raised their target price for the stock from $398.00 to $469.00 in a research note on Wednesday, September 24th. DA Davidson raised their target price on Quanta Services from $305.00 to $395.00 and gave the stock a "neutral" rating in a research note on Friday, August 1st. Finally, Northland Capmk cut Quanta Services from a "strong-buy" rating to a "hold" rating in a research note on Wednesday, July 2nd. Fourteen research analysts have rated the stock with a Buy rating and twelve have issued a Hold rating to the company. Based on data from MarketBeat, Quanta Services has an average rating of "Moderate Buy" and an average price target of $406.50.

Quanta Services Stock Performance

Shares of Quanta Services stock opened at $443.56 on Wednesday. Quanta Services has a one year low of $227.08 and a one year high of $443.97. The company has a market cap of $66.09 billion, a price-to-earnings ratio of 68.66, a PEG ratio of 2.50 and a beta of 1.04. 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 business's 50 day moving average price is $390.85 and its 200 day moving average price is $352.87.

Quanta Services (NYSE:PWR - Get Free Report) last announced 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. Quanta Services had a return on equity of 18.41% and a net margin of 3.73%.The firm had revenue of $6.77 billion for the quarter, compared to the consensus estimate of $6.55 billion. During the same quarter last year, the business posted $1.90 earnings per share. The firm'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. On average, research analysts predict that Quanta Services will post 9.34 EPS for the current year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Vanguard Group Inc. grew its stake in Quanta Services by 1.9% during the 2nd quarter. Vanguard Group Inc. now owns 17,756,682 shares of the construction company's stock worth $6,713,446,000 after purchasing an additional 339,383 shares in the last quarter. JPMorgan Chase & Co. grew its stake in Quanta Services by 0.7% during the 2nd quarter. JPMorgan Chase & Co. now owns 6,821,962 shares of the construction company's stock worth $2,579,259,000 after purchasing an additional 49,334 shares in the last quarter. State Street Corp lifted its holdings in Quanta Services by 0.4% during the 2nd quarter. State Street Corp now owns 6,007,287 shares of the construction company's stock worth $2,271,235,000 after buying an additional 24,669 shares during the last quarter. Geode Capital Management LLC lifted its holdings in Quanta Services by 4.1% during the 2nd quarter. Geode Capital Management LLC now owns 3,873,293 shares of the construction company's stock worth $1,458,362,000 after buying an additional 152,823 shares during the last quarter. Finally, DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main lifted its holdings in Quanta Services by 57.2% during the 2nd quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 2,425,436 shares of the construction company's stock worth $917,009,000 after buying an additional 882,209 shares during the last quarter. 90.49% of the stock is owned by institutional investors and hedge funds.

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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