Quanta Services (NYSE:PWR) Stock Rating Upgraded by JPMorgan Chase & Co.

Quanta Services (NYSE:PWR) was upgraded by investment analysts at JPMorgan Chase & Co. from a “neutral” rating to an “overweight” rating in a note issued to investors on Monday, Marketbeat.com reports. The brokerage currently has a $515.00 target price on the construction company’s stock, up from their prior target price of $457.00. JPMorgan Chase & Co.‘s target price indicates a potential upside of 12.37% from the stock’s current price.

A number of other equities research analysts have also weighed in on the stock. Weiss Ratings restated a “buy (b-)” rating on shares of Quanta Services in a report on Monday, December 1st. Stifel Nicolaus set a $495.00 target price on Quanta Services in a research note on Monday, November 3rd. Argus set a $540.00 target price on shares of Quanta Services in a research note on Friday, October 31st. Truist Financial upped their price objective on Quanta Services from $472.00 to $521.00 and gave the stock a “buy” rating in a report on Wednesday, October 8th. Finally, Robert W. Baird set a $490.00 target price on shares of Quanta Services in a report on Friday, October 31st. Fourteen equities research analysts have rated the stock with a Buy rating and eleven have assigned a Hold rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $449.24.

Quanta Services Trading Down 1.0%

NYSE PWR opened at $458.29 on Monday. 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 firm has a market cap of $68.34 billion, a price-to-earnings ratio of 67.89, a PEG ratio of 2.63 and a beta of 1.14. The firm has a 50 day simple moving average of $441.36 and a 200-day simple moving average of $401.56. Quanta Services has a one year low of $227.08 and a one year high of $473.99.

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

Insider Transactions at Quanta Services

In other news, Director Bernard Fried sold 4,000 shares of Quanta Services stock in a transaction dated Monday, November 3rd. The stock was sold at an average price of $452.19, for a total value of $1,808,760.00. Following the transaction, the director directly owned 12,493 shares of the company’s stock, valued at $5,649,209.67. The trade was a 24.25% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, Director Worthing Jackman sold 6,349 shares of Quanta Services stock in a transaction that occurred on Wednesday, November 5th. The shares were sold at an average price of $450.45, for a total transaction of $2,859,907.05. Following the transaction, the director directly owned 2,730 shares in the company, valued at approximately $1,229,728.50. This trade represents a 69.93% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last 90 days, insiders have sold 32,002 shares of company stock valued at $14,295,857. 1.10% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the company. Brighton Jones LLC purchased a new stake in Quanta Services during the 4th quarter worth $298,000. Townsquare Capital LLC increased its position in shares of Quanta Services by 23.3% during the first quarter. Townsquare Capital LLC now owns 5,678 shares of the construction company’s stock worth $1,443,000 after acquiring an additional 1,074 shares during the last quarter. Zions Bancorporation National Association UT acquired a new position in shares of Quanta Services in the first quarter worth about $40,000. Connor Clark & Lunn Investment Management Ltd. boosted its holdings in Quanta Services by 4,143.7% in the first quarter. Connor Clark & Lunn Investment Management Ltd. now owns 66,498 shares of the construction company’s stock valued at $16,902,000 after purchasing an additional 64,931 shares during the last quarter. Finally, Benjamin Edwards Inc. grew its stake in Quanta Services by 42.2% during the 1st quarter. Benjamin Edwards Inc. now owns 3,040 shares of the construction company’s stock valued at $773,000 after purchasing an additional 902 shares in the last quarter. 90.49% of the stock is owned by institutional investors and hedge funds.

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.