Quanta Services (NYSE:PWR) had its price objective boosted by analysts at Stifel Nicolaus from $46.00 to $50.00 in a research report issued to clients and investors on Tuesday, The Fly reports. Stifel Nicolaus’ price objective points to a potential upside of 31.72% from the company’s current price.
Several other brokerages also recently issued reports on PWR. ValuEngine downgraded Quanta Services from a “hold” rating to a “sell” rating in a report on Thursday, May 21st. Northland Securities started coverage on Quanta Services in a report on Thursday, May 28th. They set an “outperform” rating and a $44.00 target price for the company. Zacks Investment Research raised Quanta Services from a “sell” rating to a “hold” rating and set a $36.00 target price for the company in a report on Monday, May 4th. Credit Suisse Group dropped their target price on Quanta Services from $48.00 to $47.00 and set an “outperform” rating for the company in a report on Friday, May 8th. Finally, B. Riley dropped their target price on Quanta Services from $43.00 to $42.00 and set a “buy” rating for the company in a report on Friday, May 8th. One investment analyst has rated the stock with a sell rating, one has given a hold rating and eleven have issued a buy rating to the company’s stock. Quanta Services currently has an average rating of “Buy” and a consensus target price of $45.08.
NYSE:PWR opened at $37.96 on Tuesday. Quanta Services has a 1-year low of $23.77 and a 1-year high of $44.09. The company has a current ratio of 1.78, a quick ratio of 1.75 and a debt-to-equity ratio of 0.47. The firm has a fifty day simple moving average of $36.41 and a 200 day simple moving average of $37.00. The stock has a market capitalization of $5.40 billion, a PE ratio of 17.49, a P/E/G ratio of 0.98 and a beta of 1.14.
Quanta Services (NYSE:PWR) last announced its quarterly earnings results on Thursday, May 7th. The construction company reported $0.47 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.46 by $0.01. Quanta Services had a return on equity of 9.72% and a net margin of 2.65%. The business had revenue of $2.76 billion during the quarter, compared to the consensus estimate of $2.74 billion. During the same quarter last year, the firm posted $0.96 EPS. The company’s quarterly revenue was down 1.5% on a year-over-year basis. On average, equities analysts predict that Quanta Services will post 2.76 earnings per share for the current fiscal year.
In related news, VP Dorothy Upperman sold 5,617 shares of the business’s stock in a transaction dated Friday, June 5th. The stock was sold at an average price of $42.00, for a total value of $235,914.00. Following the completion of the transaction, the vice president now owns 12,041 shares of the company’s stock, valued at $505,722. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 1.40% of the stock is owned by insiders.
Institutional investors have recently added to or reduced their stakes in the business. Americana Partners LLC bought a new position in Quanta Services in the fourth quarter valued at about $25,000. Verus Capital Partners LLC bought a new position in Quanta Services in the fourth quarter valued at about $59,000. Arden Trust Co bought a new position in Quanta Services in the first quarter valued at about $63,000. Sunbelt Securities Inc. bought a new position in Quanta Services in the fourth quarter valued at about $23,665,000. Finally, Parallel Advisors LLC grew its position in Quanta Services by 18.4% in the first quarter. Parallel Advisors LLC now owns 2,631 shares of the construction company’s stock valued at $83,000 after acquiring an additional 409 shares during the last quarter. Hedge funds and other institutional investors own 92.88% of the company’s stock.
About Quanta Services
Quanta Services, Inc provides specialty contracting services in the United States, Canada, Australia, Latin America, and internationally. Its Electric Power Infrastructure Services segment designs, installs, upgrades, repairs, and maintains electric power transmission and distribution infrastructure, and substation facilities, as well as provides other engineering and technical services; designs, installs, maintains, and repairs commercial and industrial wiring; and operates a postsecondary educational institution.
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