Quanta Services (NYSE:PWR) Price Target Lowered to $287.00 at Stifel Nicolaus

Quanta Services (NYSE:PWR) had its price target dropped by investment analysts at Stifel Nicolaus from $323.00 to $287.00 in a research note issued 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 15.33% from the company’s current price.

Other equities research analysts also recently issued research reports about the stock. BMO Capital Markets upgraded shares of Quanta Services from a “market perform” rating to an “outperform” rating and reduced their price objective for the company from $338.00 to $316.00 in a research report on Tuesday, February 25th. Truist Financial reduced their price target on Quanta Services from $398.00 to $324.00 and set a “buy” rating for the company in a report on Tuesday. Roth Mkm started coverage on Quanta Services in a report on Friday, February 21st. They set a “buy” rating and a $350.00 price objective on the stock. Bank of America started coverage on Quanta Services in a research report on Friday, January 24th. They issued a “buy” rating and a $407.00 price objective for the company. Finally, Citigroup decreased their target price on shares of Quanta Services from $394.00 to $371.00 and set a “buy” rating on the stock in a research report on Wednesday, January 29th. Seven analysts have rated the stock with a hold rating, fourteen have given a buy rating and two have issued a strong buy rating to the company. According to MarketBeat.com, Quanta Services has an average rating of “Moderate Buy” and a consensus price target of $319.25.

Quanta Services Stock Performance

NYSE:PWR traded up $3.81 during mid-day trading on Wednesday, reaching $248.86. 125,359 shares of the stock were exchanged, compared to its average volume of 1,689,060. The stock has a market capitalization of $36.88 billion, a P/E ratio of 41.27, a P/E/G ratio of 1.41 and a beta of 1.04. Quanta Services has a 1 year low of $227.08 and a 1 year high of $365.88. The company has a 50 day simple moving average of $270.15 and a 200-day simple moving average of $303.38. The company has a quick ratio of 1.19, a current ratio of 1.30 and a debt-to-equity ratio of 0.56.

Quanta Services (NYSE:PWR) last announced its earnings results on Thursday, February 20th. The construction company reported $2.74 earnings per share for the quarter, topping the consensus estimate of $2.62 by $0.12. The business had revenue of $6.55 billion during the quarter, compared to the consensus estimate of $6.61 billion. Quanta Services had a net margin of 3.82% and a return on equity of 18.00%. Analysts anticipate that Quanta Services will post 9.34 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Quanta Services

A number of institutional investors have recently made changes to their positions in the stock. Janus Henderson Group PLC raised its stake in Quanta Services by 4.9% in the 3rd quarter. Janus Henderson Group PLC now owns 17,221 shares of the construction company’s stock valued at $5,134,000 after purchasing an additional 800 shares during the last quarter. MML Investors Services LLC grew its holdings in shares of Quanta Services by 8.0% during the third quarter. MML Investors Services LLC now owns 22,086 shares of the construction company’s stock worth $6,585,000 after buying an additional 1,643 shares in the last quarter. LRI Investments LLC raised its position in shares of Quanta Services by 13.5% in the third quarter. LRI Investments LLC now owns 378 shares of the construction company’s stock valued at $123,000 after buying an additional 45 shares during the last quarter. Prestige Wealth Management Group LLC purchased a new position in shares of Quanta Services during the third quarter valued at approximately $30,000. Finally, Geode Capital Management LLC boosted its position in Quanta Services by 1.4% during the third quarter. Geode Capital Management LLC now owns 3,459,411 shares of the construction company’s stock worth $1,027,887,000 after acquiring an additional 46,357 shares during the last quarter. 90.49% of the stock is owned by institutional investors and hedge funds.

Quanta Services Company Profile

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.