Quanta Services (NYSE:PWR) Now Covered by BMO Capital Markets

Research analysts at BMO Capital Markets began coverage on shares of Quanta Services (NYSE:PWR) in a research note issued to investors on Monday,Briefing.com Automated Import reports. The firm set an “outperform” rating and a $338.00 price target on the construction company’s stock. BMO Capital Markets’ target price indicates a potential upside of 9.70% from the stock’s current price.

A number of other research analysts have also recently commented on PWR. Stifel Nicolaus upped their price objective on Quanta Services from $374.00 to $388.00 and gave the company a “buy” rating in a report on Wednesday, January 22nd. Bank of America initiated coverage on Quanta Services in a report on Friday, January 24th. They set a “buy” rating and a $407.00 price target for the company. Citigroup reduced their price objective on shares of Quanta Services from $394.00 to $371.00 and set a “buy” rating on the stock in a report on Wednesday, January 29th. Daiwa Capital Markets assumed coverage on shares of Quanta Services in a research report on Friday, December 6th. They set an “outperform” rating and a $355.00 price target for the company. Finally, Guggenheim assumed coverage on shares of Quanta Services in a report on Wednesday, January 8th. They issued a “neutral” rating on the stock. Four investment analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, Quanta Services has a consensus rating of “Moderate Buy” and an average target price of $330.50.

Quanta Services Stock Down 0.4 %

Shares of NYSE:PWR opened at $308.10 on Monday. Quanta Services has a 52-week low of $193.52 and a 52-week high of $365.88. The company has a quick ratio of 1.19, a current ratio of 1.23 and a debt-to-equity ratio of 0.58. The business has a fifty day moving average of $328.59 and a two-hundred day moving average of $301.69. The stock has a market cap of $45.48 billion, a P/E ratio of 56.85, a PEG ratio of 1.54 and a beta of 1.05.

Quanta Services (NYSE:PWR) last issued its earnings results on Thursday, October 31st. The construction company reported $2.72 EPS for the quarter, topping analysts’ consensus estimates of $2.46 by $0.26. Quanta Services had a net margin of 3.54% and a return on equity of 16.71%. The company had revenue of $6.49 billion for the quarter, compared to the consensus estimate of $6.56 billion. During the same period in the previous year, the firm earned $2.08 earnings per share. Quanta Services’s quarterly revenue was up 15.5% compared to the same quarter last year. On average, research analysts expect that Quanta Services will post 7.9 earnings per share for the current year.

Institutional Investors Weigh In On Quanta Services

Several institutional investors have recently modified their holdings of the company. Webster Bank N. A. raised 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 purchasing an additional 81 shares in the last quarter. Sierra Ocean LLC purchased a new stake in Quanta Services in the fourth quarter valued at $27,000. Prestige Wealth Management Group LLC acquired a new position in Quanta Services in the third quarter valued at $30,000. Legacy Investment Solutions LLC acquired a new stake in shares of Quanta Services during the third quarter worth about $31,000. Finally, Sound Income Strategies LLC lifted its holdings in shares of Quanta Services by 700.0% in the 4th quarter. Sound Income Strategies LLC now owns 104 shares of the construction company’s stock valued at $33,000 after purchasing an additional 91 shares during the last quarter. 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.