Quanta Services (PWR) Given New $53.00 Price Target at Citigroup

Quanta Services (NYSE:PWR) had its price target upped by investment analysts at Citigroup from $47.00 to $53.00 in a note issued to investors on Tuesday. The brokerage presently has a “buy” rating on the construction company’s stock. Citigroup’s price target indicates a potential upside of 53.85% from the company’s current price.

Other equities analysts have also recently issued reports about the stock. B. Riley raised their price objective on shares of Quanta Services from $45.00 to $48.00 and gave the company a “buy” rating in a research note on Tuesday, November 7th. Stephens reaffirmed a “buy” rating and issued a $49.00 price objective on shares of Quanta Services in a research note on Wednesday, January 31st. KeyCorp reaffirmed a “buy” rating and issued a $45.00 price objective on shares of Quanta Services in a research note on Friday, November 3rd. ValuEngine cut shares of Quanta Services from a “buy” rating to a “hold” rating in a research note on Tuesday, October 10th. Finally, Seaport Global Securities reaffirmed a “buy” rating and issued a $45.00 price objective (up from $41.00) on shares of Quanta Services in a research note on Wednesday, October 11th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and eleven have assigned a buy rating to the stock. Quanta Services presently has a consensus rating of “Buy” and an average target price of $45.58.

Quanta Services (PWR) opened at $34.45 on Tuesday. Quanta Services has a 52 week low of $30.23 and a 52 week high of $40.10. The stock has a market cap of $5,322.40, a P/E ratio of 18.62, a price-to-earnings-growth ratio of 1.77 and a beta of 0.79. The company has a quick ratio of 1.80, a current ratio of 1.85 and a debt-to-equity ratio of 0.20.

Several hedge funds and other institutional investors have recently made changes to their positions in PWR. Janus Henderson Group PLC bought a new position in shares of Quanta Services during the second quarter worth $36,881,000. Jennison Associates LLC boosted its position in shares of Quanta Services by 39.9% during the fourth quarter. Jennison Associates LLC now owns 3,389,149 shares of the construction company’s stock worth $132,550,000 after purchasing an additional 966,316 shares in the last quarter. Cannell Peter B & Co. Inc. bought a new position in shares of Quanta Services during the third quarter worth $34,283,000. Russell Investments Group Ltd. boosted its position in shares of Quanta Services by 159.7% during the third quarter. Russell Investments Group Ltd. now owns 943,732 shares of the construction company’s stock worth $35,267,000 after purchasing an additional 580,382 shares in the last quarter. Finally, Victory Capital Management Inc. boosted its position in shares of Quanta Services by 9.4% during the fourth quarter. Victory Capital Management Inc. now owns 6,546,374 shares of the construction company’s stock worth $256,029,000 after purchasing an additional 562,296 shares in the last quarter. 86.68% of the stock is currently owned by institutional investors.

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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.

Analyst Recommendations for Quanta Services (NYSE:PWR)

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