Quanta Services (NYSE:PWR) Stock Price Expected to Rise, JPMorgan Chase & Co. Analyst Says

Quanta Services (NYSE:PWR) had its price target upped by equities researchers at JPMorgan Chase & Co. from $436.00 to $457.00 in a note issued to investors on Friday,Benzinga reports. The firm currently has a “neutral” rating on the construction company’s stock. JPMorgan Chase & Co.‘s price objective indicates a potential upside of 1.52% from the stock’s previous close.

A number of other equities research analysts have also issued reports on the company. Wall Street Zen lowered Quanta Services from a “buy” rating to a “hold” rating in a research note on Saturday, August 30th. Stifel Nicolaus boosted their target price on shares of Quanta Services from $432.00 to $475.00 and gave the stock a “buy” rating in a research report on Thursday, October 9th. Citigroup raised their price target on shares of Quanta Services from $490.00 to $517.00 and gave the company a “buy” rating in a report on Monday, October 20th. Argus set a $540.00 target price on Quanta Services in a research note on Friday. Finally, UBS Group boosted their price target on Quanta Services from $413.00 to $474.00 and gave the stock a “buy” rating in a research note on Friday, July 25th. Thirteen analysts have rated the stock with a Buy rating and twelve have assigned a Hold rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $435.55.

Quanta Services Stock Down 0.8%

PWR opened at $450.16 on Friday. Quanta Services has a 1 year low of $227.08 and a 1 year high of $469.43. The firm has a 50 day moving average price of $408.11 and a 200 day moving average price of $375.05. The company has a debt-to-equity ratio of 0.59, a quick ratio of 1.32 and a current ratio of 1.37. The company has a market cap of $67.08 billion, a PE ratio of 69.68, a price-to-earnings-growth ratio of 2.66 and a beta of 1.04.

Quanta Services (NYSE:PWR) last released its quarterly earnings data on Thursday, October 30th. The construction company reported $3.33 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.24 by $0.09. The company had revenue of $7.63 billion during the quarter, compared to the consensus estimate of $7.41 billion. Quanta Services had a net margin of 3.73% and a return on equity of 18.41%. Quanta Services’s revenue for the quarter was up 17.5% on a year-over-year basis. During the same period in the previous year, the firm earned $2.72 earnings per share. Quanta Services has set its FY 2025 guidance at 10.330-10.830 EPS. Sell-side analysts expect that Quanta Services will post 9.34 earnings per share for the current year.

Hedge Funds Weigh In On Quanta Services

A number of hedge funds have recently added to or reduced their stakes in the business. SCP Investment LP bought a new stake in Quanta Services in the 1st quarter valued at about $966,000. Brighton Jones LLC bought a new stake in shares of Quanta Services during the fourth quarter valued at approximately $298,000. Swedbank AB boosted its position in shares of Quanta Services by 50.5% during the first quarter. Swedbank AB now owns 1,197,062 shares of the construction company’s stock worth $304,269,000 after buying an additional 401,418 shares during the period. Empirical Financial Services LLC d.b.a. Empirical Wealth Management acquired a new stake in Quanta Services in the 2nd quarter valued at approximately $271,000. Finally, Voya Investment Management LLC raised its stake in Quanta Services by 8.6% during the 1st quarter. Voya Investment Management LLC now owns 598,067 shares of the construction company’s stock valued at $152,017,000 after acquiring an additional 47,469 shares in the last quarter. Institutional investors and hedge funds own 90.49% of the company’s stock.

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.