Quanta Services (NYSE:PWR)‘s stock had its “overweight” rating reaffirmed by equities research analysts at KeyCorp in a report released on Friday. They currently have a $49.00 price target on the construction company’s stock, up from their prior price target of $46.00. KeyCorp’s price target would indicate a potential upside of 37.37% from the stock’s previous close.
Other equities analysts have also recently issued reports about the stock. Stifel Nicolaus reissued a “buy” rating on shares of Quanta Services in a research report on Thursday, December 14th. B. Riley lifted their price target on shares of Quanta Services from $45.00 to $48.00 and gave the stock a “buy” rating in a research report on Tuesday, November 7th. Citigroup set a $47.00 price target on shares of Quanta Services and gave the stock a “buy” rating in a research report on Friday, October 27th. Alembic Global Advisors set a $45.00 price target on shares of Quanta Services and gave the stock a “buy” rating in a research report on Friday. Finally, Zacks Investment Research raised shares of Quanta Services from a “hold” rating to a “buy” rating and set a $39.00 price target on the stock in a research report on Friday, February 9th. One research analyst has rated the stock with a sell rating, two have given a hold rating and thirteen have assigned a buy rating to the company. Quanta Services presently has a consensus rating of “Buy” and a consensus price target of $45.15.
Shares of Quanta Services (NYSE PWR) traded down $0.23 during mid-day trading on Friday, reaching $35.67. 2,007,741 shares of the company’s stock were exchanged, compared to its average volume of 1,638,481. Quanta Services has a 1 year low of $30.23 and a 1 year high of $40.10. The company has a market capitalization of $5,554.48, a PE ratio of 17.84, a PEG ratio of 1.84 and a beta of 0.79. The company has a current ratio of 1.92, a quick ratio of 1.80 and a debt-to-equity ratio of 0.18.
Quanta Services (NYSE:PWR) last announced its quarterly earnings results on Thursday, February 22nd. The construction company reported $0.45 earnings per share for the quarter, topping analysts’ consensus estimates of $0.44 by $0.01. The company had revenue of $2.48 billion for the quarter, compared to analysts’ expectations of $2.34 billion. Quanta Services had a net margin of 3.33% and a return on equity of 7.75%. The business’s quarterly revenue was up 17.8% compared to the same quarter last year. During the same period last year, the firm posted $0.56 earnings per share. analysts forecast that Quanta Services will post 2.43 EPS for the current year.
A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Xact Kapitalforvaltning AB bought a new stake in Quanta Services in the 4th quarter valued at $488,000. Halsey Associates Inc. CT lifted its position in Quanta Services by 4.7% in the 4th quarter. Halsey Associates Inc. CT now owns 410,816 shares of the construction company’s stock valued at $16,067,000 after acquiring an additional 18,421 shares in the last quarter. Pier Capital LLC lifted its position in Quanta Services by 21.5% in the 4th quarter. Pier Capital LLC now owns 186,637 shares of the construction company’s stock valued at $7,299,000 after acquiring an additional 33,030 shares in the last quarter. Segall Bryant & Hamill LLC bought a new stake in Quanta Services in the 4th quarter valued at $14,666,000. Finally, MetLife Investment Advisors LLC bought a new stake in Quanta Services in the 4th quarter valued at $1,872,000. 83.60% of the stock is currently owned by institutional investors and hedge funds.
Quanta Services Company Profile
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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