Quanta Services (NYSE:PWR)‘s stock had its “buy” rating reaffirmed by research analysts at Stifel Nicolaus in a research note issued on Thursday.
Several other research analysts have also recently commented on PWR. BidaskClub cut shares of Quanta Services from a “hold” rating to a “sell” rating in a report on Friday, August 18th. KeyCorp reiterated a “buy” rating and set a $46.00 price target on shares of Quanta Services in a report on Wednesday, November 29th. Zacks Investment Research cut shares of Quanta Services from a “hold” rating to a “sell” rating in a report on Monday, October 9th. Robert W. Baird reiterated a “hold” rating and set a $39.00 price target on shares of Quanta Services in a report on Friday, October 6th. Finally, ValuEngine cut shares of Quanta Services from a “buy” rating to a “hold” rating in a report on Tuesday, October 10th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and ten have assigned a buy rating to the stock. Quanta Services currently has an average rating of “Buy” and a consensus price target of $44.64.
Quanta Services (NYSE PWR) opened at $37.72 on Thursday. The company has a current ratio of 1.85, a quick ratio of 1.80 and a debt-to-equity ratio of 0.20. Quanta Services has a twelve month low of $30.23 and a twelve month high of $39.67. The company has a market cap of $5,924.26, a P/E ratio of 20.05, a price-to-earnings-growth ratio of 2.70 and a beta of 0.86.
Quanta Services (NYSE:PWR) last posted its quarterly earnings results on Thursday, November 2nd. The construction company reported $0.63 EPS for the quarter, topping the 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 company had revenue of $2.61 billion during 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 firm’s revenue was up 27.8% on a year-over-year basis. equities analysts forecast that Quanta Services will post 1.77 earnings per share for the current fiscal year.
Several institutional investors have recently modified their holdings of PWR. Victory Capital Management Inc. raised its position in Quanta Services by 38.6% in the 2nd quarter. Victory Capital Management Inc. now owns 6,314,406 shares of the construction company’s stock valued at $207,871,000 after purchasing an additional 1,758,319 shares during the last quarter. Janus Henderson Group PLC purchased a new stake in Quanta Services in the 2nd quarter valued at $36,881,000. Renaissance Technologies LLC purchased a new stake in Quanta Services in the 2nd quarter valued at $35,076,000. Cannell Peter B & Co. Inc. purchased a new stake in Quanta Services in the 3rd quarter valued at $34,283,000. Finally, Russell Investments Group Ltd. raised its position in Quanta Services by 159.7% in the 3rd quarter. Russell Investments Group Ltd. now owns 943,732 shares of the construction company’s stock valued at $35,267,000 after purchasing an additional 580,382 shares during the last quarter. Institutional investors and hedge funds own 86.11% of the company’s stock.
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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