Guggenheim Begins Coverage on Quanta Services (NYSE:PWR)

Equities research analysts at Guggenheim assumed coverage on shares of Quanta Services (NYSE:PWR) in a research report issued on Wednesday,Briefing.com Automated Import reports. The firm set a “neutral” rating on the construction company’s stock.

A number of other research analysts also recently weighed in on PWR. Daiwa Capital Markets started coverage on Quanta Services in a report on Friday, December 6th. They issued an “outperform” rating and a $355.00 target price on the stock. Wolfe Research began coverage on shares of Quanta Services in a report on Thursday, September 19th. They issued an “outperform” rating and a $313.00 price objective on the stock. Daiwa America raised shares of Quanta Services to a “strong-buy” rating in a report on Friday, December 6th. TD Cowen lifted their price target on shares of Quanta Services from $280.00 to $335.00 and gave the stock a “buy” rating in a research note on Tuesday, October 15th. Finally, Citigroup upped their price objective on Quanta Services from $348.00 to $394.00 and gave the stock a “buy” rating in a research note on Monday, December 9th. Five investment analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $324.25.

Quanta Services Stock Performance

Shares of NYSE PWR opened at $319.96 on Wednesday. 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 firm’s 50-day moving average price is $327.84 and its 200-day moving average price is $293.33. Quanta Services has a 52-week low of $187.27 and a 52-week high of $350.19. The company has a market cap of $47.23 billion, a PE ratio of 59.03 and a beta of 1.06.

Quanta Services (NYSE:PWR) last posted 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. The business had revenue of $6.49 billion during the quarter, compared to the consensus estimate of $6.56 billion. Quanta Services had a net margin of 3.54% and a return on equity of 16.71%. The firm’s revenue was up 15.5% on a year-over-year basis. During the same quarter in the previous year, the firm posted $2.08 EPS. As a group, analysts anticipate that Quanta Services will post 7.9 EPS for the current year.

Hedge Funds Weigh In On Quanta Services

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in PWR. Private Advisor Group LLC boosted its position in shares of Quanta Services by 14.0% during the 2nd quarter. Private Advisor Group LLC now owns 9,791 shares of the construction company’s stock valued at $2,488,000 after acquiring an additional 1,202 shares during the last quarter. Acadian Asset Management LLC purchased a new position in shares of Quanta Services in the 2nd quarter worth $1,031,000. Quest Partners LLC bought a new stake in shares of Quanta Services in the 2nd quarter worth about $35,000. Prudential PLC raised its position in shares of Quanta Services by 123.1% during the 2nd quarter. Prudential PLC now owns 9,254 shares of the construction company’s stock valued at $2,351,000 after buying an additional 5,106 shares in the last quarter. Finally, Wedbush Securities Inc. bought a new position in shares of Quanta Services in the 2nd quarter valued at about $258,000. 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.