Quanta Services Inc. (PWR) Receives Average Rating of “Buy” from Analysts
Quanta Services Inc. (NYSE:PWR) has been given a consensus recommendation of “Buy” by the fourteen brokerages that are currently covering the company. Three equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the company. The average 1-year price target among brokerages that have covered the stock in the last year is $27.06.
Several analysts have commented on PWR shares. Zacks Investment Research raised shares of 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 boosted their target price on shares of 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. decreased their target price on shares of 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 restated a “buy” rating and issued a $26.00 price objective on shares of Quanta Services in a research note on Monday, August 8th. Finally, Deutsche Bank AG restated a “buy” rating on shares of Quanta Services in a research note on Saturday, August 6th.
In related news, EVP Randall C. Wisenbaker sold 5,121 shares of the company’s stock in a transaction on Wednesday, August 24th. The shares were sold at an average price of $26.36, for a total transaction of $134,989.56. Following the completion of the transaction, the executive vice president now directly owns 40,193 shares in the company, valued at approximately $1,059,487.48. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Corporate insiders own 0.70% of the company’s stock.
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Several institutional investors have recently made changes to their positions in the stock. Exxonmobil Investment Management Inc. TX boosted its position 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 worth $904,000 after buying an additional 193 shares in the last quarter. Nisa Investment Advisors LLC boosted its position in shares of Quanta Services by 0.5% in the third quarter. Nisa Investment Advisors LLC now owns 38,760 shares of the company’s stock worth $1,085,000 after buying an additional 200 shares in the last quarter. LaSalle Street Capital Management LLC boosted its position in shares of Quanta Services by 0.7% in the second quarter. LaSalle Street Capital Management LLC now owns 36,843 shares of the company’s stock worth $852,000 after buying an additional 271 shares in the last quarter. First Allied Advisory Services Inc. boosted its position in shares of Quanta Services by 3.2% in the second quarter. First Allied Advisory Services Inc. now owns 9,994 shares of the company’s stock worth $230,000 after buying an additional 306 shares in the last quarter. Finally, Endurance Wealth Management Inc. boosted its position in shares of Quanta Services by 1.1% in the second quarter. Endurance Wealth Management Inc. now owns 35,632 shares of the company’s stock worth $823,000 after buying an additional 400 shares in the last quarter. Institutional investors own 87.80% of the company’s stock.
Shares of Quanta Services (NYSE:PWR) traded down 0.36% on Thursday, reaching $27.90. 1,104,525 shares of the company’s stock traded hands. The company’s 50-day moving average is $26.50 and its 200-day moving average is $24.47. Quanta Services has a 52 week low of $16.77 and a 52 week high of $28.87. The firm has a market capitalization of $4.21 billion, a P/E ratio of 18.85 and a beta of 0.69.
Quanta Services (NYSE:PWR) last posted its earnings results on Thursday, August 4th. The company reported $0.18 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.36 by $0.18. The business earned $1.15 billion during the quarter, compared to the consensus estimate of $1.86 billion. Quanta Services had a return on equity of 4.68% and a net margin of 3.38%. The business’s revenue was down 4.4% on a year-over-year basis. During the same period in the prior year, the firm earned $0.24 earnings per share. Equities research analysts anticipate that Quanta Services will post $1.55 earnings per share for the current fiscal year.
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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