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Fintel reports that on July 12, 2023, Goldman Sachs maintained coverage of Quanta Services (NYSE:PWR) with a Neutral recommendation.

Analyst Price Forecast Suggests 2.20% Downside

As of July 5, 2023, the average one-year price target for Quanta Services is 194.07. The forecasts range from a low of 171.70 to a high of $211.05. The average price target represents a decrease of 2.20% from its latest reported closing price of 198.43.

See our leaderboard of companies with the largest price target upside.

The projected annual revenue for Quanta Services is 18,348MM, an increase of 4.62%. The projected annual non-GAAP EPS is 7.08.

What is the Fund Sentiment?

There are 1710 funds or institutions reporting positions in Quanta Services. This is an increase of 15 owner(s) or 0.88% in the last quarter. Average portfolio weight of all funds dedicated to PWR is 0.44%, an increase of 16.86%. Total shares owned by institutions decreased in the last three months by 2.34% to 170,386K shares.

The put/call ratio of PWR is 1.19, indicating a bearish outlook.

What are Other Shareholders Doing?

VEIEX - Vanguard Emerging Markets Stock Index Fund Investor Shares holds 16,671K shares representing 11.48% ownership of the company. In it's prior filing, the firm reported owning 16,572K shares, representing an increase of 0.59%. The firm decreased its portfolio allocation in PWR by 13.09% over the last quarter.

VGTSX - Vanguard Total International Stock Index Fund Investor Shares holds 15,690K shares representing 10.81% ownership of the company. No change in the last quarter.

IEMG - iShares Core MSCI Emerging Markets ETF holds 8,062K shares representing 5.55% ownership of the company. In it's prior filing, the firm reported owning 7,627K shares, representing an increase of 5.40%. The firm decreased its portfolio allocation in PWR by 7.19% over the last quarter.

DGS - WisdomTree Emerging Markets SmallCap Dividend Fund N holds 6,258K shares representing 4.31% ownership of the company. In it's prior filing, the firm reported owning 5,909K shares, representing an increase of 5.58%. The firm decreased its portfolio allocation in PWR by 7.55% over the last quarter.

Jpmorgan Chase holds 5,650K shares representing 3.89% ownership of the company. In it's prior filing, the firm reported owning 6,056K shares, representing a decrease of 7.18%. The firm increased its portfolio allocation in PWR by 0.82% over the last quarter.

Quanta Services Background Information
(This description is provided by the company.)

Quanta Services is a leading specialized contracting services company, delivering comprehensive infrastructure solutions for the utility, communications, pipeline and energy industries. Quanta's comprehensive services include designing, installing, repairing and maintaining energy and communications infrastructure. With operations throughout the United States, Canada, Australia and select other international markets, Quanta has the manpower, resources and expertise to safely complete projects that are local, regional, national or international in scope.

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This story originally appeared on Fintel.

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