Quanta Services (NYSE:PWR) Upgraded by Jefferies Financial Group to Buy Rating

Jefferies Financial Group upgraded shares of Quanta Services (NYSE:PWR) from a hold rating to a buy rating in a research note issued to investors on Wednesday, Marketbeat.com reports. Jefferies Financial Group currently has $469.00 price target on the construction company’s stock, up from their prior price target of $398.00.

Other analysts also recently issued research reports about the company. Citigroup boosted their price target on Quanta Services from $432.00 to $492.00 and gave the company a “buy” rating in a research note on Monday, July 28th. The Goldman Sachs Group reiterated a “buy” rating and issued a $414.00 target price (up previously from $364.00) on shares of Quanta Services in a research report on Wednesday, June 4th. Evercore ISI raised their target price on Quanta Services from $360.00 to $410.00 and gave the stock an “outperform” rating in a report on Friday, August 8th. Sanford C. Bernstein cut shares of Quanta Services from an “outperform” rating to a “market perform” rating and set a $410.00 price objective for the company. in a report on Monday, July 28th. Finally, JPMorgan Chase & Co. increased their target price on Quanta Services from $345.00 to $392.00 and gave the company a “neutral” rating in a research report on Tuesday, July 22nd. Thirteen equities research analysts have rated the stock with a Buy rating and twelve have given a Hold rating to the company’s stock. According to data from MarketBeat, Quanta Services presently has a consensus rating of “Moderate Buy” and a consensus price target of $404.27.

Quanta Services Trading Up 3.5%

Shares of Quanta Services stock opened at $403.26 on Wednesday. The firm’s 50 day simple moving average is $388.42 and its two-hundred day simple moving average is $341.83. The firm has a market capitalization of $60.09 billion, a price-to-earnings ratio of 62.42, a PEG ratio of 2.31 and a beta of 1.01. Quanta Services has a 12-month low of $227.08 and a 12-month high of $424.94. The company has a current ratio of 1.37, a quick ratio of 1.32 and a debt-to-equity ratio of 0.59.

Quanta Services (NYSE:PWR) last posted its quarterly earnings data on Thursday, July 31st. The construction company reported $2.48 EPS for the quarter, topping the consensus estimate of $2.44 by $0.04. The business had revenue of $6.77 billion during the quarter, compared to the consensus estimate of $6.55 billion. Quanta Services had a net margin of 3.73% and a return on equity of 18.41%. The business’s revenue for the quarter was up 21.1% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.90 earnings per share. Quanta Services has set its FY 2025 guidance at 10.280-10.880 EPS. Analysts predict that Quanta Services will post 9.34 EPS for the current year.

Quanta Services Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, October 10th. Shareholders of record on Wednesday, October 1st will be issued a $0.10 dividend. This represents a $0.40 annualized dividend and a yield of 0.1%. The ex-dividend date is Wednesday, October 1st. Quanta Services’s payout ratio is presently 6.19%.

Institutional Trading of Quanta Services

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Cullen Frost Bankers Inc. purchased a new position in shares of Quanta Services during the 1st quarter worth approximately $25,000. Copia Wealth Management boosted its stake in shares of Quanta Services by 509.1% in the second quarter. Copia Wealth Management now owns 67 shares of the construction company’s stock valued at $25,000 after purchasing an additional 56 shares during the period. SOA Wealth Advisors LLC. grew its holdings in shares of Quanta Services by 159.3% in the second quarter. SOA Wealth Advisors LLC. now owns 70 shares of the construction company’s stock valued at $26,000 after purchasing an additional 43 shares in the last quarter. Darwin Wealth Management LLC acquired a new stake in Quanta Services during the 2nd quarter worth approximately $26,000. Finally, Solstein Capital LLC grew its stake in shares of Quanta Services by 185.7% in the second quarter. Solstein Capital LLC now owns 80 shares of the construction company’s stock worth $30,000 after acquiring an additional 52 shares in the last quarter. 90.49% of the stock is currently owned by hedge funds and other 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.