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

Quanta Services (NYSE:PWR) had its price target lowered by equities researchers at Stifel Nicolaus from $388.00 to $323.00 in a research report issued on Monday,Benzinga reports. The firm presently has a “buy” rating on the construction company’s stock. Stifel Nicolaus’ target price would indicate a potential upside of 22.67% from the stock’s previous close.

A number of other brokerages have also recently commented on PWR. Daiwa Capital Markets started coverage on shares of Quanta Services in a report on Friday, December 6th. They issued an “outperform” rating and a $355.00 target price for the company. Citigroup reduced their price objective on Quanta Services from $394.00 to $371.00 and set a “buy” rating for the company in a research note on Wednesday, January 29th. Northland Securities reiterated an “outperform” rating and issued a $328.00 target price (up from $280.00) on shares of Quanta Services in a research note on Friday, November 1st. Truist Financial cut their price target on Quanta Services from $399.00 to $398.00 and set a “buy” rating for the company in a research note on Thursday, January 16th. Finally, JPMorgan Chase & Co. lifted their price objective on shares of Quanta Services from $297.00 to $323.00 and gave the company a “neutral” rating in a research report on Tuesday, January 28th. Four equities research analysts have rated the stock with a hold rating, sixteen have issued a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, Quanta Services currently has an average rating of “Moderate Buy” and a consensus target price of $328.11.

Quanta Services Stock Performance

Shares of NYSE PWR traded down $6.06 during trading hours on Monday, reaching $263.30. The stock had a trading volume of 630,841 shares, compared to its average volume of 1,563,130. The firm has a market cap of $38.87 billion, a price-to-earnings ratio of 43.67, a PEG ratio of 1.41 and a beta of 1.05. Quanta Services has a fifty-two week low of $227.11 and a fifty-two week high of $365.88. The firm has a 50-day moving average of $316.02 and a 200-day moving average of $305.98. The company has a current ratio of 1.30, a quick ratio of 1.19 and a debt-to-equity ratio of 0.56.

Quanta Services (NYSE:PWR) last announced its earnings results on Thursday, February 20th. The construction company reported $2.74 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.62 by $0.12. The business had revenue of $6.55 billion for the quarter, compared to analyst estimates of $6.61 billion. Quanta Services had a net margin of 3.82% and a return on equity of 18.00%. Equities research analysts predict that Quanta Services will post 9.34 earnings per share for the current year.

Institutional Trading of Quanta Services

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

Quanta Services Company Profile

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.