Quanta Services, Inc. (NYSE:PWR) has been given a $47.00 price objective by stock analysts at Citigroup Inc. in a research report issued on Friday, October 27th. The firm presently has a “buy” rating on the construction company’s stock. Citigroup Inc.’s price target would suggest a potential upside of 31.14% from the company’s current price.
A number of other research analysts have also commented on the company. Stifel Nicolaus restated a “buy” rating and issued a $45.00 target price on shares of Quanta Services in a research note on Thursday, September 7th. Credit Suisse Group reiterated a “buy” rating and set a $47.00 price objective on shares of Quanta Services in a research note on Friday, August 4th. BidaskClub upgraded Quanta Services from a “sell” rating to a “hold” rating in a research note on Thursday, July 13th. Zacks Investment Research upgraded Quanta Services from a “hold” rating to a “buy” rating and set a $37.00 price objective for the company in a research note on Monday, July 24th. Finally, Johnson Rice upgraded Quanta Services from an “accumulate” rating to a “buy” rating and increased their price objective for the stock from $41.00 to $43.00 in a research note on Friday, August 4th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and ten have issued a buy rating to the stock. The stock currently has an average rating of “Buy” and an average price target of $44.55.
Quanta Services (PWR) traded up $0.33 on Friday, hitting $35.84. The stock had a trading volume of 850,300 shares, compared to its average volume of 1,569,791. Quanta Services has a 12 month low of $30.23 and a 12 month high of $38.82. The company has a quick ratio of 1.80, a current ratio of 1.85 and a debt-to-equity ratio of 0.20. The company has a market capitalization of $5,494.13, a PE ratio of 18.59, a price-to-earnings-growth ratio of 2.51 and a beta of 0.87.
Quanta Services (NYSE:PWR) last posted its quarterly earnings data on Thursday, November 2nd. The construction company reported $0.63 earnings per share for the quarter, beating the consensus estimate of $0.61 by $0.02. Quanta Services had a return on equity of 8.47% and a net margin of 3.18%. The company had revenue of $2.61 billion during the quarter, compared to analysts’ expectations of $2.30 billion. During the same period in the prior year, the business earned $0.55 earnings per share. Quanta Services’s revenue for the quarter was up 27.8% compared to the same quarter last year. equities research analysts anticipate that Quanta Services will post 1.77 EPS for the current fiscal year.
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In other Quanta Services news, Director Patrick Wood III sold 4,000 shares of the firm’s stock in a transaction dated Wednesday, August 23rd. The stock was sold at an average price of $34.51, for a total transaction of $138,040.00. Following the transaction, the director now owns 7,506 shares in the company, valued at $259,032.06. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, EVP Randall C. Wisenbaker sold 9,000 shares of the firm’s stock in a transaction dated Wednesday, August 30th. The stock was sold at an average price of $35.15, for a total value of $316,350.00. Following the transaction, the executive vice president now owns 34,797 shares in the company, valued at approximately $1,223,114.55. The disclosure for this sale can be found here. 0.70% of the stock is currently owned by company insiders.
Several large investors have recently added to or reduced their stakes in PWR. BlackRock Inc. lifted its holdings in shares of Quanta Services by 3,403.4% during the 1st quarter. BlackRock Inc. now owns 8,360,060 shares of the construction company’s stock valued at $310,240,000 after purchasing an additional 8,121,431 shares in the last quarter. Victory Capital Management Inc. raised its position in Quanta Services by 38.6% in the 2nd quarter. Victory Capital Management Inc. now owns 6,314,406 shares of the construction company’s stock valued at $207,871,000 after buying an additional 1,758,319 shares during the last quarter. Janus Henderson Group PLC acquired a new stake in Quanta Services in the 2nd quarter valued at approximately $36,881,000. Renaissance Technologies LLC acquired a new stake in Quanta Services in the 2nd quarter valued at approximately $35,076,000. Finally, Cannell Peter B & Co. Inc. acquired a new stake in Quanta Services in the 3rd quarter valued at approximately $34,283,000. Institutional investors and hedge funds own 86.82% of the company’s stock.
About Quanta Services
Quanta Services, Inc is a provider of specialty contracting services, offering infrastructure solutions primarily to the electric power and oil and gas industries in the United States, Canada and Australia and selected other international markets. The Company operates through two segments: Electric Power Infrastructure Services, which provides network solutions to customers in the electric power industry, and Oil and Gas Infrastructure Services, which provides network solutions to customers involved in the development and transportation of natural gas, oil and other pipeline products.
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