Quanta Services, Inc. (NYSE:PWR) Receives $326.95 Consensus Target Price from Analysts

Quanta Services, Inc. (NYSE:PWR) has been assigned an average rating of “Moderate Buy” from the twenty-two analysts that are covering the company, Marketbeat.com reports. Six investment analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has assigned a strong buy rating to the company. The average 12-month target price among brokerages that have issued a report on the stock in the last year is $326.95.

Several equities analysts recently weighed in on PWR shares. Bank of America started coverage on shares of Quanta Services in a report on Friday, January 24th. They issued a “buy” rating and a $407.00 price objective on the stock. Citigroup lowered their target price on shares of Quanta Services from $394.00 to $371.00 and set a “buy” rating for the company in a research note on Wednesday, January 29th. Roth Capital raised shares of Quanta Services to a “strong-buy” rating in a research note on Thursday, February 20th. Stifel Nicolaus lowered their target price on shares of Quanta Services from $388.00 to $323.00 and set a “buy” rating for the company in a research note on Monday, February 24th. Finally, BMO Capital Markets raised shares of Quanta Services from a “market perform” rating to an “outperform” rating and lowered their target price for the company from $338.00 to $316.00 in a research note on Tuesday, February 25th.

Quanta Services Trading Up 2.0 %

Shares of NYSE PWR opened at $245.63 on Wednesday. The company’s 50 day simple moving average is $301.17 and its 200 day simple moving average is $305.31. Quanta Services has a fifty-two week low of $227.11 and a fifty-two week high of $365.88. The firm has a market capitalization of $36.40 billion, a P/E ratio of 40.73, a P/E/G ratio of 1.41 and a beta of 1.10. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.30 and a quick ratio of 1.19.

Quanta Services (NYSE:PWR) last announced its quarterly earnings data on Thursday, February 20th. The construction company reported $2.74 earnings per share for the quarter, beating the consensus estimate of $2.62 by $0.12. Quanta Services had a net margin of 3.82% and a return on equity of 18.00%. The business had revenue of $6.55 billion for the quarter, compared to analyst estimates of $6.61 billion. On average, analysts predict that Quanta Services will post 9.34 EPS for the current year.

Institutional Investors Weigh In On Quanta Services

Several large investors have recently made changes to their positions in PWR. Swedbank AB grew its position in Quanta Services by 4.6% in the third quarter. Swedbank AB now owns 960,081 shares of the construction company’s stock valued at $286,248,000 after purchasing an additional 42,579 shares in the last quarter. US Bancorp DE grew its position in Quanta Services by 2.9% in the third quarter. US Bancorp DE now owns 15,914 shares of the construction company’s stock valued at $4,745,000 after purchasing an additional 456 shares in the last quarter. Farther Finance Advisors LLC grew its position in Quanta Services by 12.9% in the third quarter. Farther Finance Advisors LLC now owns 1,088 shares of the construction company’s stock valued at $324,000 after purchasing an additional 124 shares in the last quarter. Van ECK Associates Corp grew its position in Quanta Services by 8,786.6% in the third quarter. Van ECK Associates Corp now owns 29,948 shares of the construction company’s stock valued at $9,183,000 after purchasing an additional 29,611 shares in the last quarter. Finally, QRG Capital Management Inc. grew its position in Quanta Services by 15.0% in the third quarter. QRG Capital Management Inc. now owns 12,512 shares of the construction company’s stock valued at $3,730,000 after purchasing an additional 1,636 shares in the last quarter. Institutional investors own 90.49% of the company’s stock.

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.