Quanta Services Inc. (PWR) Receives Consensus Rating of “Buy” from Brokerages
Shares of Quanta Services Inc. (NYSE:PWR) have earned a consensus recommendation of “Buy” from the fourteen ratings firms that are presently covering the firm. Three investment analysts have rated the stock with a hold recommendation and ten have assigned a buy recommendation to the company. The average 1-year price target among brokers that have issued a report on the stock in the last year is $27.06.
Several research analysts recently issued reports on the company. Zacks Investment Research raised Quanta Services from a “hold” rating to a “buy” rating and set a $31.00 target price for the company in a research report on Wednesday, October 5th. Stifel Nicolaus raised their target price on Quanta Services from $28.00 to $32.50 and gave the stock a “buy” rating in a research report on Friday, September 23rd. Citigroup Inc. lowered their target price on Quanta Services from $27.00 to $26.00 and set a “neutral” rating for the company in a research report on Friday, August 5th. Credit Suisse Group AG reaffirmed a “buy” rating and set a $26.00 target price on shares of Quanta Services in a research report on Monday, August 8th. Finally, Deutsche Bank AG reaffirmed a “buy” rating on shares of Quanta Services in a research report on Saturday, August 6th.
Quanta Services (NYSE:PWR) opened at 27.61 on Thursday. Quanta Services has a 52-week low of $16.77 and a 52-week high of $28.87. The stock’s 50 day moving average price is $26.64 and its 200 day moving average price is $24.60. The firm has a market capitalization of $4.17 billion, a PE ratio of 18.66 and a beta of 0.69.
Quanta Services (NYSE:PWR) last released its quarterly earnings data on Thursday, August 4th. The company reported $0.18 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.36 by $0.18. Quanta Services had a net margin of 3.38% and a return on equity of 4.68%. The firm had revenue of $1.15 billion for the quarter, compared to analyst estimates of $1.86 billion. During the same period last year, the business earned $0.24 EPS. The company’s revenue was down 4.4% compared to the same quarter last year. On average, analysts predict that Quanta Services will post $1.55 EPS for the current fiscal year.
In related news, EVP Randall C. Wisenbaker sold 5,121 shares of the business’s stock in a transaction dated Wednesday, August 24th. The stock was sold at an average price of $26.36, for a total value of $134,989.56. Following the completion of the sale, the executive vice president now directly owns 40,193 shares of the company’s stock, valued at approximately $1,059,487.48. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 0.70% of the stock is owned by corporate insiders.
A number of hedge funds have recently modified their holdings of PWR. Kovitz Investment Group Partners LLC purchased a new stake in shares of Quanta Services during the first quarter worth approximately $99,285,000. AJO LP increased its position in Quanta Services by 680.9% in the second quarter. AJO LP now owns 4,663,530 shares of the company’s stock worth $107,821,000 after buying an additional 4,066,356 shares during the period. Bank of Montreal Can bought a new position in Quanta Services during the second quarter worth about $38,831,000. Highbridge Capital Management LLC bought a new position in Quanta Services during the second quarter worth about $30,144,000. Finally, Panagora Asset Management Inc. increased its position in Quanta Services by 2,729.6% in the first quarter. Panagora Asset Management Inc. now owns 681,851 shares of the company’s stock worth $15,383,000 after buying an additional 657,754 shares during the period. 87.80% of the stock is 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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