Quanta Services (NYSE:PWR) Price Target Raised to $388.00

Quanta Services (NYSE:PWR) had its target price raised by research analysts at Stifel Nicolaus from $374.00 to $388.00 in a note issued to investors on Wednesday,Benzinga reports. The firm currently has a “buy” rating on the construction company’s stock. Stifel Nicolaus’ target price would suggest a potential upside of 8.08% from the stock’s previous close.

PWR has been the subject of several other research reports. Truist Financial decreased their price objective on Quanta Services from $399.00 to $398.00 and set a “buy” rating for the company in a report on Thursday, January 16th. Daiwa Capital Markets initiated coverage on Quanta Services in a report on Friday, December 6th. They set an “outperform” rating and a $355.00 target price for the company. Daiwa America raised Quanta Services to a “strong-buy” rating in a report on Friday, December 6th. TD Cowen lifted their target price on Quanta Services from $280.00 to $335.00 and gave the company a “buy” rating in a report on Tuesday, October 15th. Finally, Northland Securities reaffirmed an “outperform” rating and set a $328.00 target price (up previously from $280.00) on shares of Quanta Services in a report on Friday, November 1st. Four equities research analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $325.06.

Quanta Services Trading Up 0.3 %

Shares of PWR stock traded up $0.98 during trading hours on Wednesday, hitting $358.98. 578,484 shares of the company were exchanged, compared to its average volume of 1,086,200. The firm has a market cap of $52.99 billion, a P/E ratio of 66.23 and a beta of 1.06. Quanta Services has a fifty-two week low of $187.27 and a fifty-two week high of $365.88. The company has a debt-to-equity ratio of 0.58, a quick ratio of 1.19 and a current ratio of 1.23. The company has a 50 day simple moving average of $330.11 and a two-hundred day simple moving average of $298.10.

Quanta Services (NYSE:PWR) last issued its quarterly earnings data on Thursday, October 31st. The construction company reported $2.72 earnings per share for the quarter, beating the consensus estimate of $2.46 by $0.26. The business had revenue of $6.49 billion for the quarter, compared to analysts’ expectations of $6.56 billion. Quanta Services had a return on equity of 16.71% and a net margin of 3.54%. The business’s revenue was up 15.5% on a year-over-year basis. During the same period last year, the business earned $2.08 EPS. Equities analysts anticipate that Quanta Services will post 7.9 EPS for the current year.

Institutional Trading of Quanta Services

A number of institutional investors have recently made changes to their positions in PWR. XTX Topco Ltd boosted its stake in shares of Quanta Services by 31.6% during the second quarter. XTX Topco Ltd now owns 1,872 shares of the construction company’s stock valued at $476,000 after purchasing an additional 449 shares during the period. Benjamin F. Edwards & Company Inc. lifted its stake in Quanta Services by 13.3% in the second quarter. Benjamin F. Edwards & Company Inc. now owns 1,704 shares of the construction company’s stock worth $433,000 after acquiring an additional 200 shares during the period. Pacer Advisors Inc. lifted its stake in Quanta Services by 0.9% in the second quarter. Pacer Advisors Inc. now owns 11,378 shares of the construction company’s stock worth $2,891,000 after acquiring an additional 102 shares during the period. ProShare Advisors LLC lifted its stake in Quanta Services by 118.6% in the second quarter. ProShare Advisors LLC now owns 40,464 shares of the construction company’s stock worth $10,281,000 after acquiring an additional 21,954 shares during the period. Finally, EverSource Wealth Advisors LLC lifted its stake in Quanta Services by 4.5% in the second quarter. EverSource Wealth Advisors LLC now owns 1,058 shares of the construction company’s stock worth $281,000 after acquiring an additional 46 shares during the period. Hedge funds and other institutional investors own 90.49% of the company’s stock.

Quanta Services Company Profile

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.