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

Quanta Services (NYSE:PWR) was upgraded by equities researchers at BMO Capital Markets from a “market perform” rating to an “outperform” rating in a research note issued to investors on Tuesday,Briefing.com Automated Import reports. The brokerage presently has a $316.00 price objective on the construction company’s stock, down from their previous price objective of $338.00. BMO Capital Markets’ target price indicates a potential upside of 21.64% from the company’s previous close.

Several other equities research analysts have also weighed in on the company. Northland Securities reissued an “outperform” rating and issued a $328.00 price objective (up previously from $280.00) on shares of Quanta Services in a report on Friday, November 1st. Robert W. Baird lifted their price objective on Quanta Services from $320.00 to $333.00 and gave the stock an “outperform” rating in a report on Friday, November 1st. Guggenheim initiated coverage on Quanta Services in a research note on Wednesday, January 8th. They issued a “neutral” rating for the company. Citigroup cut their target price on Quanta Services from $394.00 to $371.00 and set a “buy” rating for the company in a research note on Wednesday, January 29th. Finally, Daiwa Capital Markets downgraded Quanta Services from an “outperform” rating to a “neutral” rating in a research note on Monday. Five research analysts have rated the stock with a hold rating, fifteen have issued a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $326.95.

Quanta Services Trading Down 3.6 %

Shares of Quanta Services stock opened at $259.79 on Tuesday. Quanta Services has a 1 year low of $227.11 and a 1 year high of $365.88. The firm has a market cap of $38.35 billion, a PE ratio of 43.08, a P/E/G ratio of 1.41 and a beta of 1.05. The stock has a fifty day moving average price of $314.37 and a 200-day moving average price of $305.96. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.30 and a quick ratio of 1.19.

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

Institutional Trading of Quanta Services

Hedge funds have recently bought and sold shares of the company. Geneos Wealth Management Inc. lifted its holdings in shares of Quanta Services by 0.7% during the fourth quarter. Geneos Wealth Management Inc. now owns 4,167 shares of the construction company’s stock valued at $1,317,000 after purchasing an additional 29 shares in the last quarter. Commonwealth Financial Services LLC lifted its holdings in shares of Quanta Services by 2.6% during the fourth quarter. Commonwealth Financial Services LLC now owns 1,152 shares of the construction company’s stock valued at $364,000 after purchasing an additional 29 shares in the last quarter. HB Wealth Management LLC increased its position in Quanta Services by 0.9% during the fourth quarter. HB Wealth Management LLC now owns 3,323 shares of the construction company’s stock valued at $1,050,000 after acquiring an additional 31 shares during the last quarter. Moody Lynn & Lieberson LLC increased its position in Quanta Services by 0.5% during the fourth quarter. Moody Lynn & Lieberson LLC now owns 6,141 shares of the construction company’s stock valued at $1,941,000 after acquiring an additional 32 shares during the last quarter. Finally, Resurgent Financial Advisors LLC increased its position in Quanta Services by 0.7% during the third quarter. Resurgent Financial Advisors LLC now owns 4,773 shares of the construction company’s stock valued at $1,423,000 after acquiring an additional 33 shares during the last quarter. Institutional investors own 90.49% of the company’s stock.

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.