Stifel Nicolaus Cuts Quanta Services (NYSE:PWR) Price Target to $323.00

Quanta Services (NYSE:PWR) had its price objective trimmed by Stifel Nicolaus from $388.00 to $323.00 in a report released on Monday,Benzinga reports. The brokerage currently has a buy rating on the construction company’s stock.

Other research analysts also recently issued research reports about the company. JPMorgan Chase & Co. upped their price objective on Quanta Services from $297.00 to $323.00 and gave the company a “neutral” rating in a research note on Tuesday, January 28th. Bank of America initiated coverage on Quanta Services in a report on Friday, January 24th. They set a “buy” rating and a $407.00 price target on the stock. Roth Capital upgraded Quanta Services to a “strong-buy” rating in a report on Thursday, February 20th. Truist Financial lowered their price target on Quanta Services from $399.00 to $398.00 and set a “buy” rating for the company in a research report on Thursday, January 16th. Finally, Guggenheim began coverage on Quanta Services in a research report on Wednesday, January 8th. They issued a “neutral” rating for the company. Six investment analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, Quanta Services presently has a consensus rating of “Moderate Buy” and a consensus price target of $326.95.

Quanta Services Stock Up 1.7 %

Shares of NYSE PWR opened at $268.86 on Monday. The company has a current ratio of 1.30, a quick ratio of 1.19 and a debt-to-equity ratio of 0.56. The company has a market cap of $39.84 billion, a price-to-earnings ratio of 44.59, a PEG ratio of 1.41 and a beta of 1.05. Quanta Services has a 12 month low of $227.11 and a 12 month high of $365.88. The stock has a 50-day moving average price of $311.89 and a two-hundred day moving average price of $305.73.

Quanta Services (NYSE:PWR) last issued its earnings results on Thursday, February 20th. The construction company reported $2.74 EPS for the quarter, topping the consensus estimate of $2.62 by $0.12. The firm had revenue of $6.55 billion during the quarter, compared to the consensus estimate of $6.61 billion. Quanta Services had a return on equity of 18.00% and a net margin of 3.82%. As a group, analysts forecast that Quanta Services will post 9.34 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Quanta Services

Several large investors have recently added to or reduced their stakes in PWR. Banque Transatlantique SA bought a new position in Quanta Services in the 4th quarter worth about $25,000. Webster Bank N. A. boosted its stake in Quanta Services by 4,050.0% in the 4th quarter. Webster Bank N. A. now owns 83 shares of the construction company’s stock worth $26,000 after purchasing an additional 81 shares during the period. Quarry LP bought a new position in Quanta Services in the 4th quarter worth about $26,000. Sierra Ocean LLC bought a new position in Quanta Services in the 4th quarter worth about $27,000. Finally, Prestige Wealth Management Group LLC bought a new position in Quanta Services in the 3rd quarter worth about $30,000. Hedge funds and other institutional investors own 90.49% of the company’s stock.

About Quanta Services

Quanta Services, Inc provides infrastructure solutions for the electric and gas utility, renewable energy, communications, and pipeline and energy industries in the United States, Canada, Australia, and internationally. The company’s Electric Power Infrastructure Solutions segment engages in the design, procurement, construction, upgrade, repair, and maintenance of electric power transmission and distribution infrastructure and substation facilities; installation, maintenance, and upgrade of electric power infrastructure projects; installation of smart grid technologies on electric power networks; and design, installation, maintenance, and repair of commercial and industrial wirings.