Stifel Nicolaus Forecasts Strong Price Appreciation for Quanta Services (NYSE:PWR) Stock

Quanta Services (NYSE:PWR) had its price target hoisted by equities researchers at Stifel Nicolaus from $306.00 to $363.00 in a research note issued on Monday,Benzinga reports. The firm currently has a “buy” rating on the construction company’s stock. Stifel Nicolaus’ price objective would indicate a potential upside of 14.21% from the company’s previous close.

Several other analysts have also recently issued reports on PWR. Piper Sandler started coverage on shares of Quanta Services in a research note on Tuesday, April 8th. They issued an “overweight” rating and a $286.00 target price on the stock. BMO Capital Markets upgraded Quanta Services from a “market perform” rating to an “outperform” rating and lowered their price objective for the stock from $338.00 to $316.00 in a research report on Tuesday, February 25th. Roth Capital upgraded Quanta Services to a “strong-buy” rating in a research report on Thursday, February 20th. Evercore ISI raised their price target on Quanta Services from $331.00 to $360.00 and gave the company an “outperform” rating in a report on Friday, May 2nd. Finally, JPMorgan Chase & Co. lifted their price target on Quanta Services from $297.00 to $323.00 and gave the company a “neutral” rating in a research report on Tuesday, January 28th. Six research analysts have rated the stock with a hold rating, fifteen have issued a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat, Quanta Services has a consensus rating of “Moderate Buy” and a consensus price target of $340.10.

Quanta Services Price Performance

Quanta Services stock opened at $317.83 on Monday. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.30 and a quick ratio of 1.19. Quanta Services has a one year low of $227.08 and a one year high of $365.88. The firm has a market capitalization of $47.12 billion, a P/E ratio of 52.71, a PEG ratio of 1.41 and a beta of 1.02. The business has a fifty day moving average price of $267.20 and a 200-day moving average price of $300.36.

Quanta Services (NYSE:PWR) last issued its earnings results on Thursday, May 1st. The construction company reported $1.78 EPS for the quarter, topping the consensus estimate of $1.72 by $0.06. Quanta Services had a return on equity of 18.00% and a net margin of 3.82%. The business had revenue of $6.23 billion during the quarter, compared to the consensus estimate of $5.88 billion. During the same quarter last year, the company earned $1.41 EPS. The firm’s revenue was up 23.9% compared to the same quarter last year. As a group, equities research analysts forecast that Quanta Services will post 9.34 EPS for the current year.

Hedge Funds Weigh In On Quanta Services

Several institutional investors and hedge funds have recently bought and sold shares of PWR. Neo Ivy Capital Management lifted its position in Quanta Services by 634.6% in the first quarter. Neo Ivy Capital Management now owns 8,330 shares of the construction company’s stock valued at $2,117,000 after purchasing an additional 7,196 shares during the last quarter. Cetera Investment Advisers bought a new stake in Quanta Services during the 1st quarter valued at $12,169,000. Avantax Advisory Services Inc. boosted its position in Quanta Services by 7.4% during the 1st quarter. Avantax Advisory Services Inc. now owns 16,111 shares of the construction company’s stock valued at $4,095,000 after buying an additional 1,105 shares during the period. Advisor OS LLC grew its holdings in Quanta Services by 6.9% in the 1st quarter. Advisor OS LLC now owns 2,701 shares of the construction company’s stock worth $687,000 after acquiring an additional 175 shares during the last quarter. Finally, Kovack Advisors Inc. increased its holdings in Quanta Services by 10.2% during the 1st quarter. Kovack Advisors Inc. now owns 10,550 shares of the construction company’s stock valued at $2,682,000 after purchasing an additional 974 shares during the period. 90.49% of the stock is currently owned by institutional investors.

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.