Quanta Services (NYSE:PWR)‘s stock had its “buy” rating reaffirmed by equities researchers at DA Davidson in a report released on Thursday.
Several other equities research analysts have also commented on the company. Robert W. Baird set a $42.00 price objective on Quanta Services and gave the stock a “hold” rating in a research note on Wednesday, January 3rd. Citigroup set a $47.00 price objective on Quanta Services and gave the stock a “buy” rating in a research note on Friday, October 27th. B. Riley boosted their price objective on Quanta Services from $45.00 to $48.00 and gave the stock a “buy” rating in a research note on Tuesday, November 7th. Zacks Investment Research upgraded Quanta Services from a “sell” rating to a “hold” rating in a research note on Friday, January 19th. Finally, KeyCorp reiterated a “buy” rating and set a $45.00 price objective on shares of Quanta Services in a research note on Friday, November 3rd. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and thirteen have assigned a buy rating to the company’s stock. Quanta Services has a consensus rating of “Buy” and an average price target of $45.15.
Shares of Quanta Services (NYSE:PWR) opened at $35.67 on Thursday. Quanta Services has a 52 week low of $30.23 and a 52 week high of $40.10. The company has a current ratio of 1.92, a quick ratio of 1.80 and a debt-to-equity ratio of 0.18. The company has a market capitalization of $5,554.48, a P/E ratio of 17.84, a price-to-earnings-growth ratio of 1.84 and a beta of 0.79.
Quanta Services (NYSE:PWR) last posted its quarterly earnings data on Thursday, February 22nd. The construction company reported $0.45 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.44 by $0.01. Quanta Services had a return on equity of 7.75% and a net margin of 3.33%. The company had revenue of $2.48 billion during the quarter, compared to analyst estimates of $2.34 billion. During the same period in the previous year, the business earned $0.56 EPS. Quanta Services’s quarterly revenue was up 17.8% on a year-over-year basis. equities analysts anticipate that Quanta Services will post 2.43 earnings per share for the current year.
Several hedge funds have recently bought and sold shares of PWR. Tide Point Capital Management LP purchased a new stake in shares of Quanta Services in the fourth quarter valued at approximately $43,316,000. Jennison Associates LLC grew its position in shares of Quanta Services by 39.9% in the fourth quarter. Jennison Associates LLC now owns 3,389,149 shares of the construction company’s stock valued at $132,550,000 after purchasing an additional 966,316 shares in the last quarter. Cannell Peter B & Co. Inc. purchased a new stake in shares of Quanta Services in the third quarter valued at approximately $34,283,000. Caxton Associates LP grew its position in shares of Quanta Services by 1,325.4% in the fourth quarter. Caxton Associates LP now owns 926,529 shares of the construction company’s stock valued at $36,237,000 after purchasing an additional 861,529 shares in the last quarter. Finally, Russell Investments Group Ltd. grew its position in shares of Quanta Services by 159.7% in the third quarter. Russell Investments Group Ltd. now owns 943,732 shares of the construction company’s stock valued at $35,267,000 after purchasing an additional 580,382 shares in the last quarter. Institutional investors and hedge funds own 83.60% of the company’s stock.
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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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