Stifel Nicolaus Issues Positive Forecast for Quanta Services (NYSE:PWR) Stock Price

Quanta Services (NYSE:PWR) had its price objective upped by research analysts at Stifel Nicolaus from $343.00 to $374.00 in a research report issued to clients and investors on Wednesday,Benzinga reports. The firm presently has a “buy” rating on the construction company’s stock. Stifel Nicolaus’ price target would indicate a potential upside of 13.72% from the company’s current price.

Several other research analysts also recently issued reports on PWR. Citigroup lifted their price target on Quanta Services from $348.00 to $394.00 and gave the stock a “buy” rating in a research note on Monday. TD Cowen lifted their price target on Quanta Services from $280.00 to $335.00 and gave the company a “buy” rating in a report on Tuesday, October 15th. Jefferies Financial Group started coverage on Quanta Services in a report on Wednesday, September 4th. They issued a “hold” rating and a $256.00 price target for the company. Daiwa Capital Markets started coverage on Quanta Services in a report on Friday, December 6th. They issued an “outperform” rating and a $355.00 price target for the company. Finally, Wolfe Research started coverage on Quanta Services in a report on Thursday, September 19th. They issued an “outperform” rating and a $313.00 price target for the company. Four equities research analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $321.69.

Quanta Services Price Performance

Quanta Services stock traded up $8.98 during midday trading on Wednesday, reaching $328.88. The company’s stock had a trading volume of 364,223 shares, compared to its average volume of 893,155. Quanta Services has a fifty-two week low of $187.27 and a fifty-two week high of $350.19. The company has a debt-to-equity ratio of 0.58, a quick ratio of 1.19 and a current ratio of 1.23. The stock’s 50 day simple moving average is $320.62 and its 200 day simple moving average is $286.05. The firm has a market capitalization of $48.55 billion, a PE ratio of 60.31 and a beta of 1.03.

Quanta Services (NYSE:PWR) last released its earnings results on Thursday, October 31st. The construction company reported $2.72 EPS for the quarter, beating analysts’ consensus estimates of $2.46 by $0.26. The company had revenue of $6.49 billion during the quarter, compared to the consensus estimate of $6.56 billion. Quanta Services had a return on equity of 16.71% and a net margin of 3.54%. Quanta Services’s quarterly revenue was up 15.5% compared to the same quarter last year. During the same quarter last year, the company earned $2.08 earnings per share. On average, equities research analysts forecast that Quanta Services will post 7.9 earnings per share for the current year.

Hedge Funds Weigh In On Quanta Services

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Sequoia Financial Advisors LLC raised its position in shares of Quanta Services by 66.4% in the 2nd quarter. Sequoia Financial Advisors LLC now owns 1,523 shares of the construction company’s stock valued at $387,000 after purchasing an additional 608 shares in the last quarter. Wealth Enhancement Advisory Services LLC raised its position in shares of Quanta Services by 5.7% in the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 36,862 shares of the construction company’s stock valued at $9,366,000 after purchasing an additional 1,981 shares in the last quarter. ORG Partners LLC raised its position in shares of Quanta Services by 4,287.5% in the 2nd quarter. ORG Partners LLC now owns 351 shares of the construction company’s stock valued at $87,000 after purchasing an additional 343 shares in the last quarter. AdvisorNet Financial Inc raised its position in shares of Quanta Services by 6.9% in the 2nd quarter. AdvisorNet Financial Inc now owns 2,426 shares of the construction company’s stock valued at $616,000 after purchasing an additional 157 shares in the last quarter. Finally, J.Safra Asset Management Corp bought a new stake in shares of Quanta Services in the 2nd quarter valued at approximately $59,000. 90.49% of the stock is owned by institutional investors and hedge funds.

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.