Quanta Services (NYSE:PWR) Raised to “Outperform” at BMO Capital Markets

BMO Capital Markets upgraded shares of Quanta Services (NYSE:PWR) from a market perform rating to an outperform rating in a research report released on Tuesday, MarketBeat reports. The firm currently has $316.00 price target on the construction company’s stock, down from their prior price target of $338.00.

A number of other analysts have also commented on PWR. Guggenheim assumed coverage on shares of Quanta Services in a research note on Wednesday, January 8th. They set a “neutral” rating for the company. Citigroup decreased their target price on shares of Quanta Services from $394.00 to $371.00 and set a “buy” rating for the company in a research report on Wednesday, January 29th. Roth Mkm began coverage on shares of Quanta Services in a research report on Friday, February 21st. They issued a “buy” rating and a $350.00 price target on the stock. Northland Securities reissued an “outperform” rating and set a $328.00 price objective (up from $280.00) on shares of Quanta Services in a report on Friday, November 1st. Finally, Daiwa Capital Markets lowered shares of Quanta Services from an “outperform” rating to a “neutral” rating in a research note on Monday. Six investment analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $326.95.

Quanta Services Price Performance

PWR stock opened at $258.83 on Tuesday. The company has a quick ratio of 1.19, a current ratio of 1.30 and a debt-to-equity ratio of 0.56. The firm has a market cap of $38.36 billion, a price-to-earnings ratio of 42.92, a PEG ratio of 1.41 and a beta of 1.05. The company’s fifty day simple moving average is $310.62 and its 200 day simple moving average is $305.40. Quanta Services has a 12-month low of $227.11 and a 12-month high of $365.88.

Quanta Services (NYSE:PWR) last announced its quarterly earnings data on Thursday, February 20th. The construction company reported $2.74 EPS for the quarter, topping the consensus estimate of $2.62 by $0.12. Quanta Services had a net margin of 3.82% and a return on equity of 18.00%. The company had revenue of $6.55 billion during the quarter, compared to the consensus estimate of $6.61 billion. On average, analysts expect that Quanta Services will post 9.34 earnings per share for the current year.

Hedge Funds Weigh In On Quanta Services

Several institutional investors and hedge funds have recently bought and sold shares of the company. United Advisor Group LLC bought a new stake in shares of Quanta Services in the fourth quarter valued at $279,000. Challenger Wealth Management purchased a new stake in Quanta Services in the 4th quarter worth about $610,000. Mackenzie Financial Corp raised its stake in Quanta Services by 5.4% in the 4th quarter. Mackenzie Financial Corp now owns 13,242 shares of the construction company’s stock valued at $4,185,000 after acquiring an additional 677 shares during the period. Forum Financial Management LP lifted its holdings in Quanta Services by 8.7% during the fourth quarter. Forum Financial Management LP now owns 3,839 shares of the construction company’s stock valued at $1,213,000 after purchasing an additional 307 shares during the last quarter. Finally, Castlekeep Investment Advisors LLC bought a new position in Quanta Services during the fourth quarter worth about $306,000. 90.49% of the stock is owned by 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.