Quanta Services, Inc. (NYSE:PWR) received a $47.00 price target from research analysts at Citigroup Inc. in a research report issued to clients and investors on Friday, October 27th. The firm currently has a “buy” rating on the construction company’s stock. Citigroup Inc.’s target price would suggest a potential upside of 30.92% from the stock’s previous close.
A number of other equities research analysts have also recently issued reports on PWR. BidaskClub upgraded Quanta Services from a “strong sell” rating to a “sell” rating in a research note on Thursday, June 29th. Zacks Investment Research cut Quanta Services from a “hold” rating to a “sell” rating in a research note on Wednesday, July 5th. Stifel Nicolaus restated a “buy” rating and issued a $43.00 price target on shares of Quanta Services in a research note on Friday, July 7th. TheStreet upgraded Quanta Services from a “c+” rating to a “b-” rating in a research note on Friday, July 7th. Finally, UBS AG upgraded Quanta Services from a “neutral” rating to a “buy” rating and increased their price target for the company from $38.00 to $42.00 in a research note on Thursday, July 13th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and ten have assigned a buy rating to the stock. Quanta Services presently has an average rating of “Buy” and an average target price of $44.55.
Quanta Services (PWR) traded up $0.06 during midday trading on Friday, reaching $35.90. The company’s stock had a trading volume of 73,203 shares, compared to its average volume of 1,569,791. The company has a market cap of $5,545.19, a PE ratio of 18.76, a price-to-earnings-growth ratio of 2.53 and a beta of 0.87. The company has a debt-to-equity ratio of 0.20, a current ratio of 1.85 and a quick ratio of 1.80. Quanta Services has a 12-month low of $30.23 and a 12-month high of $38.82.
Quanta Services (NYSE:PWR) last released its earnings results on Thursday, November 2nd. The construction company reported $0.63 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.61 by $0.02. Quanta Services had a return on equity of 8.47% and a net margin of 3.18%. The firm had revenue of $2.61 billion for the quarter, compared to analysts’ expectations of $2.30 billion. During the same quarter in the previous year, the business posted $0.55 EPS. The business’s quarterly revenue was up 27.8% compared to the same quarter last year. sell-side analysts forecast that Quanta Services will post 1.77 earnings per share for the current fiscal year.
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In other news, Director Patrick Wood III sold 4,000 shares of the firm’s stock in a transaction dated Wednesday, August 23rd. The stock was 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 in the company, valued at $259,032.06. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Randall C. Wisenbaker sold 9,000 shares of the firm’s 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 sale, the executive vice president now directly owns 34,797 shares of the company’s stock, valued at approximately $1,223,114.55. The disclosure for this sale can be found here. 0.70% of the stock is currently owned by company insiders.
Institutional investors have recently made changes to their positions in the business. Mckinley Capital Management LLC Delaware acquired a new stake in Quanta Services in the third quarter valued at approximately $111,000. Tower Research Capital LLC TRC boosted its position 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 buying an additional 2,190 shares during the last quarter. Bessemer Group Inc. boosted its position 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 buying an additional 840 shares during the last quarter. Commonwealth Bank of Australia purchased a new position in shares of Quanta Services during the second quarter valued at approximately $164,000. Finally, Thrivent Financial For Lutherans purchased a new position in shares of Quanta Services during the first quarter valued at approximately $206,000. 86.76% 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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