Shares of Quanta Services Inc. (NYSE:PWR) shot up 5.8% during mid-day trading on Friday . The stock traded as high as $24.87 and last traded at $24.80, with a volume of 2,116,213 shares changing hands. The stock had previously closed at $23.45.

Several brokerages have issued reports on PWR. Zacks Investment Research cut Quanta Services from a “hold” rating to a “sell” rating in a research report on Tuesday, July 12th. Robert W. Baird reaffirmed a “hold” rating on shares of Quanta Services in a research report on Sunday, May 8th. Credit Suisse Group AG reaffirmed a “buy” rating on shares of Quanta Services in a research report on Saturday, June 4th. Stifel Nicolaus raised Quanta Services from a “hold” rating to a “buy” rating and set a $28.00 target price on the stock in a research report on Friday. Finally, Citigroup Inc. dropped their target price on Quanta Services from $27.00 to $26.00 and set a “neutral” rating on the stock in a research report on Friday. Six investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. The company has an average rating of “Buy” and a consensus target price of $25.90.

The stock has a 50-day moving average price of $24.35 and a 200 day moving average price of $22.29. The stock has a market capitalization of $3.75 billion and a P/E ratio of 16.27.

Quanta Services (NYSE:PWR) last posted its quarterly earnings results on Thursday, August 4th. The company reported $0.18 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.36 by $0.18. The business had revenue of $1.15 billion for the quarter, compared to analyst estimates of $1.86 billion. The firm’s quarterly revenue was down 4.4% on a year-over-year basis. During the same period last year, the business posted $0.24 EPS. Equities research analysts forecast that Quanta Services Inc. will post $1.63 earnings per share for the current fiscal year.

Other institutional investors have bought and sold shares of the company. State of Tennessee Treasury Department increased its position in Quanta Services by 4.7% in the fourth quarter. State of Tennessee Treasury Department now owns 275,940 shares of the company’s stock valued at $5,588,000 after buying an additional 12,484 shares during the period. Cedar Hill Associates LLC increased its position in Quanta Services by 40.7% in the fourth quarter. Cedar Hill Associates LLC now owns 508,478 shares of the company’s stock valued at $10,297,000 after buying an additional 147,197 shares during the period. Trexquant Investment LP acquired a new position in Quanta Services during the fourth quarter valued at approximately $1,104,000. Systematic Financial Management LP acquired a new position in Quanta Services during the fourth quarter valued at approximately $1,739,000. Finally, Andra AP fonden increased its position in Quanta Services by 40.1% in the fourth quarter. Andra AP fonden now owns 146,700 shares of the company’s stock valued at $2,971,000 after buying an additional 42,000 shares during the period.

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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