Quanta Services (PWR) Price Target Raised to $53.00

Quanta Services (NYSE:PWR) had its target price upped by analysts at Citigroup from $47.00 to $53.00 in a research report issued on Tuesday. The firm presently has a “buy” rating on the construction company’s stock. Citigroup’s price objective indicates a potential upside of 51.69% from the stock’s previous close.

Several other analysts have also commented on PWR. Stifel Nicolaus reaffirmed a “buy” rating and set a $45.00 target price on shares of Quanta Services in a report on Friday, January 26th. Stephens reissued a “buy” rating and issued a $49.00 price objective on shares of Quanta Services in a report on Wednesday, January 31st. Zacks Investment Research lowered Quanta Services from a “hold” rating to a “sell” rating in a report on Monday, October 9th. KeyCorp reissued a “buy” rating and issued a $46.00 price objective on shares of Quanta Services in a report on Wednesday, November 29th. Finally, ValuEngine lowered Quanta Services from a “buy” rating to a “hold” rating in a report on Tuesday, October 10th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and eleven have given a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and an average price target of $45.58.

Quanta Services (NYSE:PWR) traded down $0.24 during trading on Tuesday, reaching $34.94. The company had a trading volume of 729,687 shares, compared to its average volume of 1,377,139. The firm has a market capitalization of $5,322.40, a price-to-earnings ratio of 18.89, a price-to-earnings-growth ratio of 1.77 and a beta of 0.79. Quanta Services has a 12-month low of $30.23 and a 12-month high of $40.10. The company has a debt-to-equity ratio of 0.20, a quick ratio of 1.80 and a current ratio of 1.85.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Victory Capital Management Inc. lifted its position in shares of Quanta Services by 9.4% in the fourth quarter. Victory Capital Management Inc. now owns 6,546,374 shares of the construction company’s stock valued at $256,029,000 after acquiring an additional 562,296 shares in the last quarter. Dimensional Fund Advisors LP lifted its position in Quanta Services by 4.5% during the third quarter. Dimensional Fund Advisors LP now owns 4,910,693 shares of the construction company’s stock worth $183,515,000 after buying an additional 212,294 shares in the last quarter. Jennison Associates LLC lifted its position in Quanta Services by 39.9% during the fourth quarter. Jennison Associates LLC now owns 3,389,149 shares of the construction company’s stock worth $132,550,000 after buying an additional 966,316 shares in the last quarter. Janus Henderson Group PLC purchased a new position in Quanta Services during the second quarter worth approximately $36,881,000. Finally, First Trust Advisors LP lifted its position in Quanta Services by 9.2% during the third quarter. First Trust Advisors LP now owns 1,100,571 shares of the construction company’s stock worth $41,128,000 after buying an additional 92,922 shares in the last quarter. Institutional investors and hedge funds own 86.68% of the company’s stock.

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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.

Analyst Recommendations for Quanta Services (NYSE:PWR)

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