Quanta Services Inc (PWR) Receives Average Recommendation of “Buy” from Analysts
Shares of Quanta Services Inc (NYSE:PWR) have been assigned an average recommendation of “Buy” from the eleven analysts that are currently covering the stock. One research analyst has rated the stock with a sell rating, two have issued a hold rating and seven have assigned a buy rating to the company. The average 12 month price objective among brokers that have covered the stock in the last year is $40.00.
PWR has been the subject of a number of research analyst reports. Citigroup Inc raised their price objective on shares of Quanta Services from $31.00 to $37.00 and gave the stock a “neutral” rating in a report on Monday, January 23rd. FBR & Co raised their price objective on shares of Quanta Services from $29.00 to $41.00 and gave the stock a “market perform” rating in a report on Thursday, January 26th. Credit Suisse Group AG raised their price objective on shares of Quanta Services from $32.00 to $43.00 and gave the stock an “outperform” rating in a report on Tuesday, January 31st. DA Davidson restated a “buy” rating on shares of Quanta Services in a report on Thursday, February 16th. Finally, Stifel Nicolaus raised their price objective on shares of Quanta Services from $40.00 to $43.00 and gave the stock a “buy” rating in a report on Thursday, February 23rd.
In other Quanta Services news, VP Nicholas M. Grindstaff sold 27,000 shares of the stock in a transaction dated Monday, February 27th. The shares were sold at an average price of $38.20, for a total transaction of $1,031,400.00. Following the completion of the transaction, the vice president now owns 23,659 shares in the company, valued at $903,773.80. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Patrick Wood III sold 5,000 shares of the stock in a transaction dated Monday, February 27th. The stock was sold at an average price of $38.08, for a total transaction of $190,400.00. Following the transaction, the director now owns 11,506 shares of the company’s stock, valued at approximately $438,148.48. The disclosure for this sale can be found here. 0.70% of the stock is owned by company insiders.
Institutional investors have recently added to or reduced their stakes in the stock. FTB Advisors Inc. raised its position in Quanta Services by 140.0% in the first quarter. FTB Advisors Inc. now owns 2,873 shares of the construction company’s stock worth $103,000 after buying an additional 1,676 shares during the period. Segantii Capital Management Ltd purchased a new position in Quanta Services during the first quarter worth approximately $115,000. Ameritas Investment Partners Inc. purchased a new position in Quanta Services during the first quarter worth approximately $134,000. LBA Wealth Management LLC purchased a new position in Quanta Services during the first quarter worth approximately $177,000. Finally, Thrivent Financial For Lutherans purchased a new position in Quanta Services during the first quarter worth approximately $206,000. Institutional investors own 93.05% of the company’s stock.
Shares of Quanta Services (NYSE:PWR) traded up 1.06% during midday trading on Friday, hitting $31.55. 652,910 shares of the company were exchanged. The firm’s 50 day moving average price is $34.86 and its 200 day moving average price is $34.96. Quanta Services has a one year low of $21.60 and a one year high of $38.82. The firm has a market capitalization of $4.80 billion, a price-to-earnings ratio of 21.80 and a beta of 0.69.
Quanta Services (NYSE:PWR) last announced its earnings results on Thursday, May 4th. The construction company reported $0.39 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.38 by $0.01. The company had revenue of $2.18 billion during the quarter, compared to the consensus estimate of $2.01 billion. Quanta Services had a net margin of 1.42% and a return on equity of 5.53%. The firm’s revenue for the quarter was up 27.1% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.23 earnings per share. Analysts forecast that Quanta Services will post $1.96 EPS for the current fiscal year.
About Quanta Services
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.
Receive News & Ratings for Quanta Services Inc Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Quanta Services Inc and related companies with MarketBeat.com's FREE daily email newsletter.