Quanta Services (NYSE:PWR) Coverage Initiated at Roth Mkm

Roth Mkm started coverage on shares of Quanta Services (NYSE:PWR) in a report published on Friday morning, Marketbeat.com reports. The brokerage issued a buy rating and a $350.00 target price on the construction company’s stock.

PWR has been the subject of a number of other research reports. JPMorgan Chase & Co. lifted their price target on Quanta Services from $297.00 to $323.00 and gave the company a “neutral” rating in a research report on Tuesday, January 28th. Stifel Nicolaus lifted their target price on shares of Quanta Services from $374.00 to $388.00 and gave the company a “buy” rating in a research report on Wednesday, January 22nd. Robert W. Baird increased their price target on shares of Quanta Services from $320.00 to $333.00 and gave the stock an “outperform” rating in a report on Friday, November 1st. BMO Capital Markets initiated coverage on shares of Quanta Services in a report on Monday, February 3rd. They set an “outperform” rating and a $338.00 price objective for the company. Finally, Guggenheim initiated coverage on Quanta Services in a research note on Wednesday, January 8th. They issued a “neutral” rating on the stock. Four equities research analysts have rated the stock with a hold rating, sixteen have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $331.53.

Quanta Services Price Performance

Shares of NYSE:PWR opened at $269.75 on Friday. The company has a 50 day moving average of $316.02 and a 200 day moving average of $305.18. The company has a current ratio of 1.23, a quick ratio of 1.19 and a debt-to-equity ratio of 0.58. The stock has a market cap of $39.82 billion, a P/E ratio of 49.77, a P/E/G ratio of 1.46 and a beta of 1.05. Quanta Services has a 12 month low of $221.07 and a 12 month high of $365.88.

Quanta Services (NYSE:PWR) last released its quarterly earnings results on Thursday, February 20th. The construction company reported $2.74 EPS for the quarter, beating analysts’ consensus estimates of $2.62 by $0.12. Quanta Services had a net margin of 3.54% and a return on equity of 16.71%. The firm had revenue of $6.55 billion during the quarter, compared to analyst estimates of $6.61 billion. As a group, sell-side analysts forecast that Quanta Services will post 7.91 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in PWR. Banque Transatlantique SA purchased a new position in shares of Quanta Services in the fourth quarter valued at about $25,000. Quarry LP purchased a new position in Quanta Services during the 4th quarter valued at about $26,000. Webster Bank N. A. increased its holdings in Quanta Services by 4,050.0% during the 4th quarter. Webster Bank N. A. now owns 83 shares of the construction company’s stock valued at $26,000 after purchasing an additional 81 shares during the period. Sierra Ocean LLC purchased a new stake in Quanta Services in the 4th quarter worth approximately $27,000. Finally, Legacy Investment Solutions LLC bought a new stake in shares of Quanta Services in the 3rd quarter worth approximately $31,000. 90.49% of the stock is owned by hedge funds and other institutional investors.

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.