Quanta Services, Inc. (NYSE:PWR) had its price objective lifted by B. Riley from $45.00 to $48.00 in a research report released on Tuesday, November 7th. The brokerage currently has a buy rating on the construction company’s stock. B. Riley also issued estimates for Quanta Services’ Q4 2017 earnings at $0.41 EPS, FY2017 earnings at $1.79 EPS and FY2018 earnings at $2.30 EPS.
Several other research analysts also recently commented on PWR. Zacks Investment Research raised shares of Quanta Services from a sell rating to a hold rating in a report on Tuesday, July 11th. UBS AG raised shares of Quanta Services from a neutral rating to a buy rating and raised their price objective for the stock from $38.00 to $42.00 in a report on Thursday, July 13th. BidaskClub upgraded shares of Quanta Services from a sell rating to a hold rating in a research note on Thursday, July 13th. Credit Suisse Group reiterated a buy rating and issued a $46.00 target price on shares of Quanta Services in a research note on Wednesday, July 26th. Finally, Robert W. Baird cut shares of Quanta Services from an outperform rating to a neutral rating and lowered their target price for the stock from $41.00 to $38.00 in a research note on Wednesday, July 26th. One research analyst has rated the stock with a sell rating, three have given a hold rating and ten have issued a buy rating to the company’s stock. The company currently has a consensus rating of Buy and a consensus target price of $44.55.
Shares of Quanta Services (NYSE:PWR) traded up $0.04 during mid-day trading on Tuesday, reaching $36.01. 1,589,100 shares of the company’s stock were exchanged, compared to its average volume of 1,573,628. Quanta Services has a twelve month low of $30.23 and a twelve month high of $38.82. The company has a quick ratio of 1.80, a current ratio of 1.85 and a debt-to-equity ratio of 0.20. The company has a market cap of $5,570.00, a P/E ratio of 18.85, a price-to-earnings-growth ratio of 2.54 and a beta of 0.87.
Quanta Services (NYSE:PWR) last released its earnings results on Thursday, November 2nd. The construction company reported $0.63 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.61 by $0.02. Quanta Services had a net margin of 3.18% and a return on equity of 8.47%. The firm had revenue of $2.61 billion during the quarter, compared to the consensus estimate of $2.30 billion. During the same period in the prior year, the firm earned $0.55 EPS. The company’s revenue was up 27.8% compared to the same quarter last year. research analysts predict that Quanta Services will post 1.77 earnings per share for the current fiscal year.
In related news, Director Patrick Wood III sold 4,000 shares of Quanta Services stock in a transaction dated Wednesday, August 23rd. The shares were sold at an average price of $34.51, for a total transaction of $138,040.00. Following the completion of the transaction, the director now directly owns 7,506 shares of the company’s stock, valued at approximately $259,032.06. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, EVP Randall C. Wisenbaker sold 9,000 shares of Quanta Services stock in a transaction dated Wednesday, August 30th. The shares were sold at an average price of $35.15, for a total transaction of $316,350.00. Following the transaction, the executive vice president now directly owns 34,797 shares of the company’s stock, valued at $1,223,114.55. The disclosure for this sale can be found here. Insiders own 0.75% of the company’s stock.
Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Mckinley Capital Management LLC Delaware purchased a new position in shares of Quanta Services during the third quarter valued at approximately $111,000. Tower Research Capital LLC TRC raised its holdings in shares of Quanta Services by 182.5% during the second quarter. Tower Research Capital LLC TRC now owns 3,390 shares of the construction company’s stock valued at $112,000 after purchasing an additional 2,190 shares during the last quarter. Bessemer Group Inc. raised its holdings in shares of Quanta Services by 22.2% during the second quarter. Bessemer Group Inc. now owns 4,628 shares of the construction company’s stock valued at $152,000 after purchasing an additional 840 shares during the last quarter. Commonwealth Bank of Australia bought a new stake in Quanta Services during the second quarter valued at approximately $164,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank grew its position in Quanta Services by 14.0% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 5,748 shares of the construction company’s stock valued at $189,000 after buying an additional 708 shares during the period. 85.39% of the stock is owned by hedge funds and other institutional investors.
About Quanta Services
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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