Stifel Nicolaus Increases Quanta Services (NYSE:PWR) Price Target to $388.00

Quanta Services (NYSE:PWR) had its price objective upped by Stifel Nicolaus from $374.00 to $388.00 in a report released on Wednesday,Benzinga reports. The brokerage presently has a “buy” rating on the construction company’s stock. Stifel Nicolaus’ target price indicates a potential upside of 9.44% from the stock’s current price.

Other research analysts have also issued research reports about the stock. TD Cowen increased their target price on shares of Quanta Services from $280.00 to $335.00 and gave the stock a “buy” rating in a research report on Tuesday, October 15th. UBS Group raised their price objective on Quanta Services from $313.00 to $367.00 and gave the stock a “buy” rating in a research note on Wednesday, October 23rd. Robert W. Baird upped their target price 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 America upgraded Quanta Services to a “strong-buy” rating in a research report on Friday, December 6th. Finally, Citigroup upped their price objective on shares of Quanta Services from $348.00 to $394.00 and gave the stock a “buy” rating in a research report on Monday, December 9th. Four analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $325.06.

Quanta Services Price Performance

Shares of NYSE PWR opened at $354.52 on Wednesday. The firm has a market cap of $52.33 billion, a P/E ratio of 65.41 and a beta of 1.06. The business’s 50 day moving average is $330.71 and its 200-day moving average is $298.51. The company has a current ratio of 1.23, a quick ratio of 1.19 and a debt-to-equity ratio of 0.58. Quanta Services has a 1-year low of $192.62 and a 1-year high of $365.88.

Quanta Services (NYSE:PWR) last posted its quarterly earnings data on Thursday, October 31st. The construction company reported $2.72 earnings per share for the quarter, topping the consensus estimate of $2.46 by $0.26. The firm had revenue of $6.49 billion for the quarter, compared to analysts’ expectations of $6.56 billion. Quanta Services had a return on equity of 16.71% and a net margin of 3.54%. The company’s quarterly revenue was up 15.5% compared to the same quarter last year. During the same quarter last year, the business earned $2.08 EPS. Equities research analysts predict that Quanta Services will post 7.9 earnings per share for the current year.

Hedge Funds Weigh In On Quanta Services

A number of institutional investors and hedge funds have recently bought and sold shares of the company. Versor Investments LP acquired a new position in shares of Quanta Services in the third quarter valued at approximately $406,000. Principal Financial Group Inc. increased its position in Quanta Services by 5.6% in the 3rd quarter. Principal Financial Group Inc. now owns 207,720 shares of the construction company’s stock valued at $61,932,000 after acquiring an additional 11,012 shares during the period. Asio Capital LLC bought a new position in shares of Quanta Services during the third quarter valued at $2,715,000. Waverton Investment Management Ltd lifted its holdings in shares of Quanta Services by 6.5% during the third quarter. Waverton Investment Management Ltd now owns 41,963 shares of the construction company’s stock worth $12,509,000 after purchasing an additional 2,557 shares during the period. Finally, Synovus Financial Corp grew its stake in shares of Quanta Services by 34.0% in the third quarter. Synovus Financial Corp now owns 7,206 shares of the construction company’s stock worth $2,148,000 after purchasing an additional 1,830 shares during the last quarter. Institutional investors and hedge funds own 90.49% of the company’s stock.

Quanta Services Company Profile

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.