Shares of Quanta Services, Inc. (NYSE:PWR) have been assigned an average recommendation of “Buy” from the sixteen ratings firms that are covering the company, MarketBeat.com reports. One equities research analyst has rated the stock with a sell recommendation, four have issued a hold recommendation and ten have issued a buy recommendation on the company. The average 12 month target price among brokers that have issued ratings on the stock in the last year is $44.80.
Several research firms have recently weighed in on PWR. B. Riley increased their price objective on shares of Quanta Services from $45.00 to $48.00 and gave the stock a “buy” rating in a research report on Tuesday, November 7th. KeyCorp reiterated a “buy” rating and set a $45.00 price objective on shares of Quanta Services in a research report on Friday, November 3rd. Robert W. Baird increased their price objective on shares of Quanta Services from $39.00 to $41.00 and gave the stock a “neutral” rating in a research report on Friday, November 3rd. Citigroup Inc. set a $47.00 price objective on shares of Quanta Services and gave the stock a “buy” rating in a research report on Friday, October 27th. Finally, Zacks Investment Research cut shares of Quanta Services from a “buy” rating to a “hold” rating in a research report on Tuesday, October 17th.
Shares of Quanta Services (NYSE:PWR) traded down $0.40 during midday trading on Friday, reaching $35.35. 1,705,100 shares of the company’s stock traded hands, compared to its average volume of 1,572,970. The company has a debt-to-equity ratio of 0.20, a quick ratio of 1.80 and a current ratio of 1.85. Quanta Services has a 1 year low of $30.23 and a 1 year high of $38.82. The firm has a market cap of $5,681.35, a PE ratio of 19.23, a P/E/G ratio of 2.59 and a beta of 0.87.
Quanta Services (NYSE:PWR) last announced its quarterly earnings results on Thursday, November 2nd. The construction company reported $0.63 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ 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 analysts’ expectations of $2.30 billion. During the same period in the prior year, the company posted $0.55 EPS. The company’s revenue was up 27.8% on a year-over-year basis. analysts expect that Quanta Services will post 1.77 EPS for the current year.
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In related news, Director Patrick Wood III sold 4,000 shares of the stock in a transaction on Wednesday, August 23rd. The shares were sold at an average price of $34.51, for a total transaction of $138,040.00. Following the transaction, the director now directly owns 7,506 shares of the company’s stock, valued at $259,032.06. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, EVP Randall C. Wisenbaker sold 9,000 shares of the stock in a transaction on Wednesday, August 30th. The stock was 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 in the company, valued at $1,223,114.55. The disclosure for this sale can be found here. 0.70% of the stock is owned by corporate insiders.
A number of hedge funds and other institutional investors have recently modified their holdings of PWR. Mckinley Capital Management LLC Delaware bought a new position in Quanta Services during the third quarter worth $111,000. Tower Research Capital LLC TRC boosted its stake in 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 worth $112,000 after acquiring an additional 2,190 shares in the last quarter. Bessemer Group Inc. boosted its stake in Quanta Services by 22.2% during the second quarter. Bessemer Group Inc. now owns 4,628 shares of the construction company’s stock worth $152,000 after acquiring an additional 840 shares in the last quarter. Commonwealth Bank of Australia bought a new position in shares of Quanta Services in the second quarter valued at $164,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in shares of Quanta Services by 14.0% in 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 in the last quarter. 86.76% of the stock is currently owned by institutional investors and hedge funds.
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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