Quanta Services (NYSE:PWR) Price Target Raised to $388.00

Quanta Services (NYSE:PWR) had its price target boosted by stock analysts at Stifel Nicolaus from $374.00 to $388.00 in a research report issued to clients and investors on Wednesday,Benzinga reports. The firm presently has a “buy” rating on the construction company’s stock. Stifel Nicolaus’ target price points to a potential upside of 8.08% from the company’s previous close.

PWR has been the subject of several other reports. UBS Group lifted their price objective on Quanta Services from $313.00 to $367.00 and gave the stock a “buy” rating in a report on Wednesday, October 23rd. JPMorgan Chase & Co. assumed coverage on Quanta Services in a research report on Monday, October 7th. They set a “neutral” rating and a $297.00 price objective on the stock. Robert W. Baird lifted their price objective on Quanta Services from $320.00 to $333.00 and gave the company an “outperform” rating in a research report on Friday, November 1st. Daiwa Capital Markets assumed coverage on Quanta Services in a research report on Friday, December 6th. They set an “outperform” rating and a $355.00 price objective on the stock. Finally, TD Cowen lifted their price objective on Quanta Services from $280.00 to $335.00 and gave the company a “buy” rating in a research report on Tuesday, October 15th. Four investment analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $325.06.

Quanta Services Stock Up 0.3 %

Shares of NYSE:PWR traded up $0.98 on Wednesday, hitting $358.98. 578,484 shares of the company traded hands, compared to its average volume of 1,086,200. Quanta Services has a 52 week low of $187.27 and a 52 week high of $365.88. The company has a quick ratio of 1.19, a current ratio of 1.23 and a debt-to-equity ratio of 0.58. The stock has a 50 day simple moving average of $330.11 and a 200-day simple moving average of $298.10. The company has a market cap of $52.99 billion, a PE ratio of 66.23 and a beta of 1.06.

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, beating the consensus estimate of $2.46 by $0.26. Quanta Services had a return on equity of 16.71% and a net margin of 3.54%. The firm had revenue of $6.49 billion during the quarter, compared to the consensus estimate of $6.56 billion. During the same period last year, the company earned $2.08 earnings per share. The company’s revenue was up 15.5% on a year-over-year basis. As a group, research analysts expect that Quanta Services will post 7.9 earnings per share for the current year.

Institutional Investors Weigh In On Quanta Services

A number of hedge funds have recently made changes to their positions in PWR. XTX Topco Ltd increased its position in Quanta Services by 31.6% during the 2nd quarter. XTX Topco Ltd now owns 1,872 shares of the construction company’s stock valued at $476,000 after buying an additional 449 shares in the last quarter. Benjamin F. Edwards & Company Inc. increased its position in Quanta Services by 13.3% during the 2nd quarter. Benjamin F. Edwards & Company Inc. now owns 1,704 shares of the construction company’s stock valued at $433,000 after buying an additional 200 shares in the last quarter. Pacer Advisors Inc. increased its position in Quanta Services by 0.9% during the 2nd quarter. Pacer Advisors Inc. now owns 11,378 shares of the construction company’s stock valued at $2,891,000 after buying an additional 102 shares in the last quarter. ProShare Advisors LLC increased its position in Quanta Services by 118.6% during the 2nd quarter. ProShare Advisors LLC now owns 40,464 shares of the construction company’s stock valued at $10,281,000 after buying an additional 21,954 shares in the last quarter. Finally, EverSource Wealth Advisors LLC increased its position in Quanta Services by 4.5% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,058 shares of the construction company’s stock valued at $281,000 after buying an additional 46 shares in the last quarter. 90.49% of the stock is currently owned by hedge funds and other 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.