Stifel Nicolaus Increases Quanta Services (NYSE:PWR) Price Target to $374.00

Quanta Services (NYSE:PWR) had its target price hoisted by Stifel Nicolaus from $343.00 to $374.00 in a research note issued on Wednesday,Benzinga reports. The brokerage presently has a “buy” rating on the construction company’s stock. Stifel Nicolaus’ price target points to a potential upside of 11.28% from the stock’s current price.

A number of other brokerages have also recently weighed in on PWR. Citigroup lifted their price target on shares of Quanta Services from $348.00 to $394.00 and gave the company a “buy” rating in a research report on Monday. Robert W. Baird boosted their target price on shares of Quanta Services from $320.00 to $333.00 and gave the stock an “outperform” rating in a research report on Friday, November 1st. UBS Group boosted their target price on shares of Quanta Services from $313.00 to $367.00 and gave the stock a “buy” rating in a research report on Wednesday, October 23rd. Wolfe Research started coverage on shares of Quanta Services in a report on Thursday, September 19th. They issued an “outperform” rating and a $313.00 price target on the stock. Finally, Jefferies Financial Group started coverage on shares of Quanta Services in a report on Wednesday, September 4th. They issued a “hold” rating and a $256.00 price target on the stock. Four equities research analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Quanta Services has a consensus rating of “Moderate Buy” and an average target price of $321.69.

Quanta Services Stock Performance

Shares of NYSE PWR opened at $336.10 on Wednesday. The company has a market cap of $49.61 billion, a PE ratio of 62.01 and a beta of 1.03. Quanta Services has a 12 month low of $187.27 and a 12 month high of $350.19. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.23 and a quick ratio of 1.19. The company has a 50-day simple moving average of $322.08 and a 200-day simple moving average of $286.73.

Quanta Services (NYSE:PWR) last released its earnings results on Thursday, October 31st. The construction company reported $2.72 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.46 by $0.26. Quanta Services had a net margin of 3.54% and a return on equity of 16.71%. The firm had revenue of $6.49 billion during the quarter, compared to the consensus estimate of $6.56 billion. During the same period in the previous year, the firm earned $2.08 earnings per share. Quanta Services’s revenue was up 15.5% compared to the same quarter last year. On average, equities analysts anticipate that Quanta Services will post 7.9 earnings per share for the current year.

Institutional Investors Weigh In On Quanta Services

A number of institutional investors and hedge funds have recently bought and sold shares of PWR. Prestige Wealth Management Group LLC purchased a new stake in Quanta Services during the third quarter valued at about $30,000. Legacy Investment Solutions LLC purchased a new stake in Quanta Services during the third quarter valued at about $31,000. Valley Wealth Managers Inc. purchased a new stake in Quanta Services during the second quarter valued at about $33,000. Quest Partners LLC acquired a new position in shares of Quanta Services in the 2nd quarter valued at about $35,000. Finally, CarsonAllaria Wealth Management Ltd. acquired a new position in shares of Quanta Services in the 2nd quarter valued at about $38,000. 90.49% of the stock is owned by institutional investors and hedge funds.

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.