Quanta Services (NYSE:PWR) Stock Price Expected to Rise, Stifel Nicolaus Analyst Says

Quanta Services (NYSE:PWR) had its price target lifted by stock analysts at Stifel Nicolaus from $374.00 to $388.00 in a note issued to investors on Wednesday,Benzinga reports. The brokerage presently has a “buy” rating on the construction company’s stock. Stifel Nicolaus’ price objective points to a potential upside of 9.44% from the company’s previous close.

Other equities analysts have also recently issued reports about the company. Citigroup increased their price target on Quanta Services from $348.00 to $394.00 and gave the stock a “buy” rating in a report on Monday, December 9th. TD Cowen increased their target price on shares of Quanta Services from $280.00 to $335.00 and gave the stock a “buy” rating in a research note on Tuesday, October 15th. UBS Group lifted their price target on shares of Quanta Services from $313.00 to $367.00 and gave the company a “buy” rating in a research note on Wednesday, October 23rd. Guggenheim began coverage on Quanta Services in a research note on Wednesday, January 8th. They issued a “neutral” rating for the company. Finally, Daiwa America raised Quanta Services to a “strong-buy” rating in a research note on Friday, December 6th. Four research analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Quanta Services presently has a consensus rating of “Moderate Buy” and an average price target of $325.06.

Quanta Services Trading Down 0.8 %

NYSE:PWR opened at $354.52 on Wednesday. Quanta Services has a 52 week low of $192.62 and a 52 week high of $365.88. The firm’s fifty day moving average is $330.71 and its 200-day moving average is $298.51. The firm has a market cap of $52.33 billion, a P/E ratio of 65.41 and a beta of 1.06. The company has a debt-to-equity ratio of 0.58, a quick ratio of 1.19 and a current ratio of 1.23.

Quanta Services (NYSE:PWR) last issued its quarterly earnings results on Thursday, October 31st. The construction company reported $2.72 earnings per share for the quarter, topping analysts’ consensus estimates of $2.46 by $0.26. The firm had revenue of $6.49 billion during the quarter, compared to the consensus estimate of $6.56 billion. Quanta Services had a return on equity of 16.71% and a net margin of 3.54%. The business’s revenue was up 15.5% compared to the same quarter last year. During the same period last year, the business posted $2.08 EPS. Equities analysts expect that Quanta Services will post 7.9 earnings per share for the current year.

Institutional Investors Weigh In On Quanta Services

Institutional investors have recently added to or reduced their stakes in the company. Webster Bank N. A. boosted its stake in shares of Quanta Services by 4,050.0% in the 4th quarter. Webster Bank N. A. now owns 83 shares of the construction company’s stock worth $26,000 after buying an additional 81 shares during the last quarter. Legacy Investment Solutions LLC purchased a new position in Quanta Services in the third quarter worth $31,000. Prestige Wealth Management Group LLC bought a new position in Quanta Services in the 3rd quarter valued at $30,000. Sound Income Strategies LLC increased its position in shares of Quanta Services by 700.0% during the 4th quarter. Sound Income Strategies LLC now owns 104 shares of the construction company’s stock valued at $33,000 after purchasing an additional 91 shares during the last quarter. Finally, Versant Capital Management Inc raised its stake in shares of Quanta Services by 62.5% during the 4th quarter. Versant Capital Management Inc now owns 117 shares of the construction company’s stock worth $37,000 after purchasing an additional 45 shares during the period. 90.49% of the stock is owned by 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.