Quanta Services, Inc. (NYSE:PWR) had its target price increased by equities research analysts at Robert W. Baird from $39.00 to $41.00 in a research note issued on Friday. The brokerage currently has a “neutral” rating on the construction company’s stock. Robert W. Baird’s target price indicates a potential upside of 14.97% from the company’s current price.
A number of other research firms also recently weighed in on PWR. Zacks Investment Research downgraded Quanta Services from a “buy” rating to a “hold” rating in a research report on Tuesday, October 17th. Citigroup Inc. set a $47.00 price target on Quanta Services and gave the stock a “buy” rating in a research report on Friday, October 27th. ValuEngine downgraded Quanta Services from a “buy” rating to a “hold” rating in a research report on Tuesday, October 10th. Seaport Global Securities reaffirmed a “buy” rating and set a $45.00 price target (up previously from $41.00) on shares of Quanta Services in a research report on Wednesday, October 11th. Finally, FBR & Co raised Quanta Services to an “outperform” rating and upped their price target for the stock from $40.00 to $45.00 in a research report on Wednesday, August 9th. One analyst has rated the stock with a sell rating, four have issued a hold rating and nine have issued a buy rating to the stock. Quanta Services presently has a consensus rating of “Buy” and a consensus target price of $44.20.
Quanta Services (NYSE PWR) traded down $0.90 during midday trading on Friday, reaching $35.66. The company had a trading volume of 1,915,104 shares, compared to its average volume of 1,129,954. Quanta Services has a twelve month low of $27.73 and a twelve month high of $38.82. The company has a current ratio of 1.85, a quick ratio of 1.96 and a debt-to-equity ratio of 0.20. The company has a market cap of $5,391.22, a PE ratio of 18.67, a price-to-earnings-growth ratio of 2.46 and a beta of 0.87.
Quanta Services (NYSE:PWR) last posted its earnings results on Thursday, November 2nd. The construction company reported $0.63 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.61 by $0.02. Quanta Services had a return on equity of 8.47% and a net margin of 3.18%. The business had revenue of $2.61 billion during the quarter, compared to analysts’ expectations of $2.30 billion. During the same period in the prior year, the business earned $0.55 EPS. Quanta Services’s revenue for the quarter was up 27.8% compared to the same quarter last year. analysts anticipate that Quanta Services will post 1.81 EPS for the current fiscal year.
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In other news, EVP Randall C. Wisenbaker sold 9,000 shares of the stock in a transaction that occurred on Wednesday, August 30th. The stock was sold at an average price of $35.15, for a total value of $316,350.00. Following the completion of the sale, the executive vice president now owns 34,797 shares of the company’s stock, valued at approximately $1,223,114.55. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director John Michal Conaway sold 4,000 shares of the stock in a transaction that occurred on Thursday, August 10th. The shares were sold at an average price of $35.79, for a total value of $143,160.00. Following the completion of the sale, the director now directly owns 17,152 shares of the company’s stock, valued at approximately $613,870.08. The disclosure for this sale can be found here. In the last three months, insiders sold 17,000 shares of company stock valued at $597,550. 0.70% of the stock is currently owned by insiders.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Tower Research Capital LLC TRC boosted its holdings in shares of Quanta Services by 182.5% in the 2nd quarter. Tower Research Capital LLC TRC now owns 3,390 shares of the construction company’s stock valued at $112,000 after buying an additional 2,190 shares during the last quarter. Bessemer Group Inc. boosted its holdings in shares of Quanta Services by 22.2% in the 2nd quarter. Bessemer Group Inc. now owns 4,628 shares of the construction company’s stock valued at $152,000 after buying an additional 840 shares during the last quarter. Commonwealth Bank of Australia acquired a new stake in shares of Quanta Services in the 2nd quarter valued at approximately $164,000. Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in Quanta Services by 14.0% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 5,748 shares of the construction company’s stock valued at $189,000 after purchasing an additional 708 shares during the last quarter. Finally, Global X Management Co. LLC lifted its holdings in Quanta Services by 129.4% during the 2nd quarter. Global X Management Co. LLC now owns 5,766 shares of the construction company’s stock valued at $190,000 after purchasing an additional 3,253 shares during the last quarter. 87.18% of the stock is owned by institutional investors.
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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