Quanta Services (NYSE:PWR) Price Target Lowered to $342.00 at Citigroup

Quanta Services (NYSE:PWR) had its price target dropped by stock analysts at Citigroup from $366.00 to $342.00 in a note issued to investors on Friday,Benzinga reports. The brokerage currently has a “buy” rating on the construction company’s stock. Citigroup’s price objective indicates a potential upside of 18.90% from the stock’s current price.

A number of other research firms have also recently weighed in on PWR. Guggenheim assumed coverage on shares of Quanta Services in a research report on Wednesday, January 8th. They issued a “neutral” rating for the company. Roth Capital upgraded Quanta Services to a “strong-buy” rating in a research note on Thursday, February 20th. Roth Mkm started coverage on Quanta Services in a report on Friday, February 21st. They set a “buy” rating and a $350.00 price objective on the stock. Daiwa America upgraded Quanta Services from a “hold” rating to a “strong-buy” rating in a research note on Friday, April 11th. Finally, Stifel Nicolaus dropped their price target on shares of Quanta Services from $323.00 to $287.00 and set a “buy” rating for the company in a research note on Wednesday, April 9th. Six analysts have rated the stock with a hold rating, fourteen have given a buy rating and three have given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Quanta Services presently has a consensus rating of “Moderate Buy” and a consensus price target of $321.70.

Quanta Services Price Performance

PWR stock opened at $287.64 on Friday. The firm has a market cap of $42.65 billion, a P/E ratio of 47.70, a price-to-earnings-growth ratio of 1.41 and a beta of 1.04. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.19 and a current ratio of 1.30. Quanta Services has a 1 year low of $227.08 and a 1 year high of $365.88. The stock has a 50-day simple moving average of $261.85 and a 200-day simple moving average of $300.44.

Quanta Services (NYSE:PWR) last issued its quarterly earnings data on Thursday, February 20th. The construction company reported $2.74 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.62 by $0.12. Quanta Services had a net margin of 3.82% and a return on equity of 18.00%. The company had revenue of $6.55 billion during the quarter, compared to the consensus estimate of $6.61 billion. On average, equities analysts predict that Quanta Services will post 9.34 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc. lifted its stake in Quanta Services by 1.0% in the fourth quarter. Vanguard Group Inc. now owns 17,009,421 shares of the construction company’s stock valued at $5,375,828,000 after buying an additional 161,277 shares during the last quarter. Capital World Investors lifted its position in Quanta Services by 14.1% in the 4th quarter. Capital World Investors now owns 7,223,471 shares of the construction company’s stock valued at $2,282,978,000 after purchasing an additional 891,977 shares during the last quarter. Geode Capital Management LLC boosted its stake in Quanta Services by 2.9% during the 4th quarter. Geode Capital Management LLC now owns 3,558,827 shares of the construction company’s stock valued at $1,121,830,000 after purchasing an additional 99,416 shares during the period. Invesco Ltd. grew its position in Quanta Services by 3.7% in the 4th quarter. Invesco Ltd. now owns 1,913,847 shares of the construction company’s stock worth $604,871,000 after purchasing an additional 68,565 shares during the last quarter. Finally, Norges Bank acquired a new stake in shares of Quanta Services in the fourth quarter valued at approximately $544,937,000. Institutional investors and hedge funds own 90.49% of the company’s stock.

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.