Quanta Services (NYSE:PWR) Stock Price Expected to Rise, TD Cowen Analyst Says

Quanta Services (NYSE:PWR) had its target price raised by equities research analysts at TD Cowen from $335.00 to $355.00 in a note issued to investors on Wednesday,Briefing.com Automated Import reports. The brokerage presently has a “buy” rating on the construction company’s stock. TD Cowen’s price objective suggests a potential upside of 11.69% from the company’s previous close.

Other analysts have also issued reports about the stock. The Goldman Sachs Group reduced their price objective on shares of Quanta Services from $418.00 to $364.00 and set a “buy” rating for the company in a research note on Thursday, April 24th. Citigroup reduced their price target on shares of Quanta Services from $366.00 to $342.00 and set a “buy” rating for the company in a research report on Friday, April 25th. Stifel Nicolaus lifted their price objective on shares of Quanta Services from $306.00 to $363.00 and gave the stock a “buy” rating in a research report on Monday. BMO Capital Markets set a $352.00 target price on Quanta Services in a report on Friday. Finally, Piper Sandler set a $360.00 price target on Quanta Services and gave the company an “overweight” rating in a report on Tuesday. Six investment analysts have rated the stock with a hold rating, fifteen have issued a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat, Quanta Services currently has an average rating of “Moderate Buy” and a consensus target price of $341.10.

Quanta Services Stock Down 1.5 %

PWR stock opened at $317.83 on Wednesday. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.30 and a quick ratio of 1.19. The firm has a market cap of $47.12 billion, a PE ratio of 52.71, a P/E/G ratio of 1.41 and a beta of 1.02. Quanta Services has a 12 month low of $227.08 and a 12 month high of $365.88. The firm has a 50 day simple moving average of $267.20 and a 200 day simple moving average of $300.36.

Quanta Services (NYSE:PWR) last released its quarterly earnings data on Thursday, May 1st. The construction company reported $1.78 earnings per share for the quarter, topping the consensus estimate of $1.72 by $0.06. The business had revenue of $6.23 billion during the quarter, compared to analyst estimates of $5.88 billion. Quanta Services had a return on equity of 18.00% and a net margin of 3.82%. The company’s revenue was up 23.9% compared to the same quarter last year. During the same period last year, the company posted $1.41 EPS. Equities research analysts forecast that Quanta Services will post 9.34 earnings per share for the current fiscal year.

Institutional Trading of Quanta Services

Large investors have recently modified their holdings of the company. Principal Financial Group Inc. grew its position in shares of Quanta Services by 5.6% in the third quarter. Principal Financial Group Inc. now owns 207,720 shares of the construction company’s stock valued at $61,932,000 after purchasing an additional 11,012 shares during the last quarter. First Hawaiian Bank grew its holdings in Quanta Services by 62.2% in the 4th quarter. First Hawaiian Bank now owns 4,680 shares of the construction company’s stock valued at $1,479,000 after buying an additional 1,795 shares during the last quarter. Hilltop National Bank increased its position in Quanta Services by 4.0% in the 4th quarter. Hilltop National Bank now owns 6,472 shares of the construction company’s stock worth $2,045,000 after buying an additional 248 shares during the period. ORG Wealth Partners LLC lifted its holdings in shares of Quanta Services by 71.9% during the fourth quarter. ORG Wealth Partners LLC now owns 550 shares of the construction company’s stock worth $174,000 after buying an additional 230 shares during the last quarter. Finally, Harbor Capital Advisors Inc. boosted its position in shares of Quanta Services by 2.5% in the fourth quarter. Harbor Capital Advisors Inc. now owns 2,910 shares of the construction company’s stock valued at $920,000 after acquiring an additional 72 shares during the period. 90.49% of the stock is owned by institutional investors.

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.