Quanta Services (NYSE:PWR) Given a $413.00 Price Target by UBS Group Analysts

Quanta Services (NYSE:PWR) received a $413.00 price objective from analysts at UBS Group in a research note issued on Thursday, Marketbeat reports. The brokerage currently has a “buy” rating on the construction company’s stock. UBS Group’s target price indicates a potential upside of 13.22% from the company’s previous close.

Other equities research analysts have also issued reports about the company. Daiwa America upgraded Quanta Services from a “hold” rating to a “strong-buy” rating in a research report on Friday, April 11th. TD Cowen lifted their price target on shares of Quanta Services from $335.00 to $355.00 and gave the company a “buy” rating in a report on Wednesday, May 7th. Truist Financial decreased their price objective on shares of Quanta Services from $398.00 to $324.00 and set a “buy” rating for the company in a report on Tuesday, April 8th. Citigroup cut their target price on shares of Quanta Services from $366.00 to $342.00 and set a “buy” rating on the stock in a research note on Friday, April 25th. Finally, BMO Capital Markets set a $352.00 price target on shares of Quanta Services in a research note on Friday, May 2nd. Six analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $349.65.

Quanta Services Trading Up 1.8%

Shares of NYSE PWR traded up $6.53 during mid-day trading on Thursday, hitting $364.79. The stock had a trading volume of 235,354 shares, compared to its average volume of 1,494,669. The business has a 50 day moving average price of $316.61 and a two-hundred day moving average price of $304.39. Quanta Services has a 1 year low of $227.08 and a 1 year high of $367.00. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.19 and a current ratio of 1.30. The firm has a market cap of $54.09 billion, a P/E ratio of 60.50, a price-to-earnings-growth ratio of 1.41 and a beta of 1.07.

Quanta Services (NYSE:PWR) last released its quarterly earnings data on Thursday, May 1st. The construction company reported $1.78 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.72 by $0.06. The firm had revenue of $6.23 billion for the quarter, compared to analysts’ expectations of $5.88 billion. Quanta Services had a net margin of 3.82% and a return on equity of 18.00%. The company’s revenue for the quarter was up 23.9% compared to the same quarter last year. During the same quarter in the previous year, the company earned $1.41 earnings per share. On average, equities analysts anticipate that Quanta Services will post 9.34 EPS for the current fiscal year.

Hedge Funds Weigh In On Quanta Services

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Kestra Private Wealth Services LLC lifted its holdings in shares of Quanta Services by 85.0% during the fourth quarter. Kestra Private Wealth Services LLC now owns 4,752 shares of the construction company’s stock valued at $1,502,000 after purchasing an additional 2,184 shares in the last quarter. Allstate Corp purchased a new position in Quanta Services in the 4th quarter worth about $1,357,000. Brighton Jones LLC bought a new position in Quanta Services during the 4th quarter valued at about $298,000. Quaero Capital S.A. boosted its holdings in shares of Quanta Services by 198.2% during the 4th quarter. Quaero Capital S.A. now owns 7,128 shares of the construction company’s stock valued at $2,253,000 after acquiring an additional 4,738 shares during the last quarter. Finally, Truist Financial Corp boosted its holdings in shares of Quanta Services by 3.9% during the 4th quarter. Truist Financial Corp now owns 479,857 shares of the construction company’s stock valued at $151,659,000 after acquiring an additional 18,206 shares during the last quarter. 90.49% of the stock is owned by 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.