KeyCorp Raises Quanta Services Inc. (PWR) Price Target to $36.00
Quanta Services Inc. (NYSE:PWR) had its price target lifted by equities researchers at KeyCorp from $32.00 to $36.00 in a research note issued on Tuesday. The brokerage presently has an “overweight” rating on the stock. KeyCorp’s target price suggests a potential upside of 11.25% from the stock’s current price.
A number of other equities analysts have also issued reports on PWR. Stifel Nicolaus raised Quanta Services from a “hold” rating to a “buy” rating and set a $28.00 price target for the company in a research note on Friday, August 5th. Citigroup Inc. cut their price objective 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. Zacks Investment Research upgraded Quanta Services from a “sell” rating to a “hold” rating in a research report on Friday, August 5th. Deutsche Bank AG reiterated a “buy” rating on shares of Quanta Services in a research report on Saturday, August 6th. Finally, Credit Suisse Group AG reiterated a “buy” rating and set a $26.00 price objective on shares of Quanta Services in a research report on Monday, August 8th. Three equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. The company has an average rating of “Buy” and an average price target of $29.50.
Quanta Services (NYSE:PWR) traded up 0.28% during midday trading on Tuesday, reaching $32.36. The company’s stock had a trading volume of 1,833,229 shares. The firm has a market capitalization of $4.89 billion, a price-to-earnings ratio of 48.66 and a beta of 0.60. Quanta Services has a 12 month low of $16.77 and a 12 month high of $33.13. The stock’s 50-day moving average price is $29.70 and its 200-day moving average price is $26.10.
Quanta Services (NYSE:PWR) last issued its quarterly earnings results on Thursday, November 3rd. The company reported $0.55 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.55. The firm earned $2.04 billion during the quarter, compared to analyst estimates of $2.08 billion. Quanta Services had a return on equity of 5.53% and a net margin of 1.42%. The firm’s quarterly revenue was up 5.2% on a year-over-year basis. During the same period last year, the company posted $0.30 EPS. Analysts predict that Quanta Services will post $1.54 EPS for the current year.
Several hedge funds have recently made changes to their positions in the company. Royal Bank of Canada raised its stake in shares of Quanta Services by 64.8% in the first quarter. Royal Bank of Canada now owns 1,141,563 shares of the company’s stock valued at $25,754,000 after buying an additional 449,003 shares in the last quarter. Euclid Advisors LLC purchased a new stake in shares of Quanta Services during the first quarter valued at about $138,000. BlueMountain Capital Management LLC purchased a new stake in shares of Quanta Services during the first quarter valued at about $201,000. British Columbia Investment Management Corp raised its stake in shares of Quanta Services by 555.7% in the second quarter. British Columbia Investment Management Corp now owns 300,000 shares of the company’s stock valued at $6,936,000 after buying an additional 254,247 shares in the last quarter. Finally, Exxonmobil Investment Management Inc. TX raised its stake in shares of Quanta Services by 0.5% in the second quarter. Exxonmobil Investment Management Inc. TX now owns 39,096 shares of the company’s stock valued at $904,000 after buying an additional 193 shares in the last quarter. Institutional investors and hedge funds own 89.98% of the company’s stock.
Quanta Services Company Profile
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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