Stifel Nicolaus Increases Quanta Services Inc. (PWR) Price Target to $32.50
Quanta Services Inc. (NYSE:PWR) had its price objective hoisted by equities researchers at Stifel Nicolaus from $28.00 to $32.50 in a report released on Friday. The brokerage currently has a “buy” rating on the stock. Stifel Nicolaus’ price objective indicates a potential upside of 25.29% from the stock’s current price.
Other equities research analysts have also recently issued research reports about the company. Deutsche Bank AG restated a “buy” rating on shares of Quanta Services in a report on Saturday, August 6th. Credit Suisse Group AG restated a “buy” rating on shares of Quanta Services in a report on Saturday, June 4th. Zacks Investment Research cut Quanta Services from a “hold” rating to a “sell” rating in a report on Tuesday, July 12th. Finally, Citigroup Inc. lowered their price target on Quanta Services from $27.00 to $26.00 and set a “neutral” rating on the stock in a report on Friday, August 5th. Five research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and an average target price of $26.65.
Shares of Quanta Services (NYSE:PWR) opened at 25.94 on Friday. Quanta Services has a 52-week low of $16.77 and a 52-week high of $27.05. The stock has a market cap of $3.92 billion, a P/E ratio of 17.53 and a beta of 0.67. The firm has a 50-day moving average price of $25.47 and a 200-day moving average price of $23.92.
Quanta Services (NYSE:PWR) last issued its earnings results on Thursday, August 4th. The company reported $0.18 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.36 by $0.18. The business had revenue of $1.15 billion for the quarter, compared to analysts’ expectations of $1.86 billion. Quanta Services had a return on equity of 4.68% and a net margin of 3.38%. The business’s quarterly revenue was down 4.4% on a year-over-year basis. During the same period last year, the company posted $0.24 earnings per share. On average, analysts anticipate that Quanta Services will post $1.55 EPS for the current fiscal year.
In other Quanta Services news, EVP Randall C. Wisenbaker sold 5,121 shares of the stock in a transaction on Wednesday, August 24th. The stock was sold at an average price of $26.36, for a total transaction of $134,989.56. Following the sale, the executive vice president now owns 40,193 shares in the company, valued at approximately $1,059,487.48. The sale was disclosed in a legal filing with the SEC, which is available through this link. Company insiders own 0.70% of the company’s stock.
Large investors have recently bought and sold shares of the company. Norges Bank acquired a new stake in Quanta Services during the fourth quarter valued at about $31,259,000. Aperio Group LLC boosted its stake in Quanta Services by 49.7% in the first quarter. Aperio Group LLC now owns 51,150 shares of the company’s stock valued at $1,154,000 after buying an additional 16,982 shares during the period. CIBC World Markets Inc. boosted its stake in Quanta Services by 18.0% in the first quarter. CIBC World Markets Inc. now owns 14,466 shares of the company’s stock valued at $326,000 after buying an additional 2,211 shares during the period. Teachers Advisors Inc. boosted its stake in Quanta Services by 50.1% in the first quarter. Teachers Advisors Inc. now owns 510,129 shares of the company’s stock valued at $11,509,000 after buying an additional 170,302 shares during the period. Finally, Prudential Financial Inc. boosted its stake in Quanta Services by 295.9% in the first quarter. Prudential Financial Inc. now owns 808,514 shares of the company’s stock valued at $18,240,000 after buying an additional 604,300 shares during the period. Institutional investors and hedge funds own 87.80% 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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