Quanta Services (NYSE:PWR) Upgraded at Wall Street Zen

Wall Street Zen upgraded shares of Quanta Services (NYSE:PWR) from a hold rating to a buy rating in a research report sent to investors on Saturday morning,Wall Street Zen reports.

A number of other research firms have also weighed in on PWR. Truist Financial raised their price target on shares of Quanta Services from $945.00 to $960.00 and gave the company a “buy” rating in a report on Tuesday, October 27th. TD Cowen boosted their price objective on shares of Quanta Services from $785.00 to $830.00 and gave the stock a “buy” rating in a report on Thursday. Cantor Fitzgerald reissued an “overweight” rating and issued a $862.00 price objective on shares of Quanta Services in a research report on Monday, October 5th. Argus set a $800.00 target price on Quanta Services in a research note on Wednesday, August 5th. Finally, JPMorgan Chase & Co. lowered Quanta Services from an “overweight” rating to a “neutral” rating and set a $714.00 target price on the stock. in a research report on Tuesday, July 21st. Twenty-three equities research analysts have rated the stock with a Buy rating, seven have given a Hold rating and three have given a Sell rating to the company’s stock. According to data from MarketBeat, Quanta Services currently has a consensus rating of “Moderate Buy” and an average price target of $763.81.

Quanta Services Stock Down 0.2%

NYSE PWR opened at $619.44 on Friday. The stock has a market cap of $93.13 billion, a PE ratio of 56.11, a P/E/G ratio of 1.79 and a beta of 1.27. Quanta Services has a fifty-two week low of $408.36 and a fifty-two week high of $788.75. The business has a 50 day moving average price of $632.35 and a two-hundred day moving average price of $624.04. The company has a quick ratio of 1.05, a current ratio of 1.10 and a debt-to-equity ratio of 0.56.

Quanta Services (NYSE:PWR) last issued its quarterly earnings data on Thursday, October 29th. The construction company reported $6.06 earnings per share (EPS) for the quarter, beating the consensus estimate of $5.02 by $1.04. The company had revenue of $12.01 billion during the quarter, compared to the consensus estimate of $11.03 billion. Quanta Services had a net margin of 4.03% and a return on equity of 20.55%. Quanta Services’s revenue for the quarter was up 57.4% on a year-over-year basis. During the same quarter last year, the company earned $3.33 earnings per share. As a group, sell-side analysts predict that Quanta Services will post 15.36 EPS for the current fiscal year.

Quanta Services Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, October 9th. Shareholders of record on Thursday, October 1st were paid a dividend of $0.11 per share. The ex-dividend date was Thursday, October 1st. This represents a $0.44 annualized dividend and a yield of 0.1%. Quanta Services’s payout ratio is presently 3.99%.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of PWR. CenterBook Partners LP raised its holdings in Quanta Services by 493.3% during the third quarter. CenterBook Partners LP now owns 8,757 shares of the construction company’s stock worth $5,626,000 after purchasing an additional 7,281 shares in the last quarter. Asset One Wealth Management LLC boosted its stake in Quanta Services by 127.2% during the 3rd quarter. Asset One Wealth Management LLC now owns 768 shares of the construction company’s stock valued at $493,000 after purchasing an additional 430 shares in the last quarter. International Assets Investment Management LLC boosted its stake in Quanta Services by 74.0% during the 3rd quarter. International Assets Investment Management LLC now owns 2,324 shares of the construction company’s stock valued at $1,540,000 after purchasing an additional 988 shares in the last quarter. Calamos Wealth Management LLC increased its position in shares of Quanta Services by 1.9% during the 3rd quarter. Calamos Wealth Management LLC now owns 4,458 shares of the construction company’s stock valued at $2,864,000 after purchasing an additional 81 shares during the period. Finally, Alta Advisers Ltd increased its position in shares of Quanta Services by 88.3% during the 3rd quarter. Alta Advisers Ltd now owns 1,083 shares of the construction company’s stock valued at $696,000 after purchasing an additional 508 shares during the period. 90.49% of the stock is currently owned by institutional investors.

About Quanta Services

Quanta Services, Inc is an infrastructure solutions provider headquartered in Houston, Texas. The company designs, installs, repairs, maintains and upgrades essential infrastructure for the electric power, communications, pipeline, industrial and energy industries.

Its services include electric transmission and distribution construction, substation and renewable-energy infrastructure, storm restoration, fiber-optic and wireless communications networks, natural gas and pipeline construction, and related engineering and maintenance work.