Quanta Services (NYSE:PWR) Upgraded by Cantor Fitzgerald to Strong-Buy Rating

Cantor Fitzgerald upgraded shares of Quanta Services (NYSE:PWR) to a strong-buy rating in a research note released on Friday,Zacks.com reports.

A number of other analysts have also weighed in on the stock. Sanford C. Bernstein cut their price objective on shares of Quanta Services from $432.00 to $428.00 and set a “market perform” rating on the stock in a research note on Friday, December 19th. Mizuho set a $415.00 price target on shares of Quanta Services in a report on Tuesday, October 28th. Stifel Nicolaus set a $495.00 price objective on Quanta Services in a research note on Monday, November 3rd. Truist Financial upped their target price on Quanta Services from $472.00 to $521.00 and gave the stock a “buy” rating in a research note on Wednesday, October 8th. Finally, Citigroup raised their target price on Quanta Services from $517.00 to $526.00 and gave the stock a “buy” rating in a report on Friday, October 31st. One research analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and seven have given a Hold rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $460.20.

Quanta Services Stock Down 0.0%

Shares of PWR stock opened at $468.75 on Friday. Quanta Services has a fifty-two week low of $227.08 and a fifty-two week high of $483.29. The firm has a market capitalization of $69.90 billion, a PE ratio of 69.44, a P/E/G ratio of 2.27 and a beta of 1.16. The company has a debt-to-equity ratio of 0.66, a quick ratio of 1.30 and a current ratio of 1.34. The stock’s 50-day simple moving average is $443.81 and its 200-day simple moving average is $418.98.

Quanta Services (NYSE:PWR) last issued its earnings results on Thursday, October 30th. The construction company reported $3.33 EPS for the quarter, beating analysts’ consensus estimates of $3.24 by $0.09. Quanta Services had a return on equity of 18.74% and a net margin of 3.74%.The firm had revenue of $7.63 billion for the quarter, compared to analyst estimates of $7.41 billion. During the same quarter in the prior year, the firm earned $2.72 earnings per share. Quanta Services’s revenue for the quarter was up 17.5% on a year-over-year basis. Quanta Services has set its FY 2025 guidance at 10.330-10.830 EPS. Equities analysts expect that Quanta Services will post 9.34 earnings per share for the current year.

Insiders Place Their Bets

In related news, insider Gerald A. Ducey, Jr. sold 7,653 shares of the business’s stock in a transaction on Thursday, November 6th. The shares were sold at an average price of $446.08, for a total value of $3,413,850.24. Following the completion of the sale, the insider owned 19,960 shares of the company’s stock, valued at approximately $8,903,756.80. The trade was a 27.72% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Bernard Fried sold 4,000 shares of the stock in a transaction on Monday, November 3rd. The shares were sold at an average price of $452.19, for a total transaction of $1,808,760.00. Following the transaction, the director directly owned 12,493 shares in the company, valued at approximately $5,649,209.67. The trade was a 24.25% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last 90 days, insiders sold 32,002 shares of company stock valued at $14,295,857. Corporate insiders own 1.10% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of PWR. Activest Wealth Management increased its stake in Quanta Services by 94.1% during the 3rd quarter. Activest Wealth Management now owns 66 shares of the construction company’s stock worth $27,000 after buying an additional 32 shares in the last quarter. Flagship Harbor Advisors LLC acquired a new stake in shares of Quanta Services in the fourth quarter worth approximately $28,000. Copia Wealth Management increased its position in shares of Quanta Services by 509.1% during the second quarter. Copia Wealth Management now owns 67 shares of the construction company’s stock worth $25,000 after purchasing an additional 56 shares in the last quarter. Darwin Wealth Management LLC acquired a new position in Quanta Services in the 2nd quarter valued at $26,000. Finally, SOA Wealth Advisors LLC. lifted its holdings in Quanta Services by 159.3% in the 2nd 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. Institutional investors and hedge funds own 90.49% of the company’s stock.

Quanta Services Company Profile

Quanta Services, Inc is a leading specialty contractor that provides comprehensive infrastructure solutions for the electric power, pipeline and energy, and communications markets. Headquartered in Houston, Texas, the company delivers engineering, procurement, construction, installation, maintenance and repair services that support the development, modernization and ongoing operation of critical energy and communications networks.

In the electric power sector, Quanta works on transmission and distribution systems, substation construction and grid modernization projects that include integration of renewable generation and energy storage.