Quanta Services, Inc. (PWR) Rating Reiterated by KeyCorp
Quanta Services, Inc. (NYSE:PWR)‘s stock had its “buy” rating restated by KeyCorp in a report released on Friday. They currently have a $45.00 price objective on the construction company’s stock. KeyCorp’s price target indicates a potential upside of 26.19% from the company’s previous close.
Several other equities analysts have also recently issued reports on PWR. Robert W. Baird lifted their price objective on shares of Quanta Services from $39.00 to $41.00 and gave the stock a “neutral” rating in a research note on Friday. FBR & Co raised shares of Quanta Services to an “outperform” rating and lifted their price objective for the stock from $40.00 to $45.00 in a research note on Wednesday, August 9th. BidaskClub raised shares of Quanta Services from a “sell” rating to a “hold” rating in a research note on Tuesday, August 8th. Zacks Investment Research cut shares of Quanta Services from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, August 9th. Finally, Stifel Nicolaus reaffirmed a “buy” rating and issued a $45.00 price objective on shares of Quanta Services in a research note on Friday, August 4th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and nine have issued a buy rating to the company’s stock. Quanta Services has an average rating of “Buy” and a consensus price target of $44.20.
Quanta Services (NYSE PWR) opened at $35.66 on Friday. The company has a debt-to-equity ratio of 0.20, a quick ratio of 1.96 and a current ratio of 1.85. The company has a market capitalization of $5.53 billion, a PE ratio of 19.14, a P/E/G ratio of 2.52 and a beta of 0.87.
Quanta Services (NYSE:PWR) last announced its quarterly earnings data on Thursday, November 2nd. The construction company reported $0.63 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.61 by $0.02. The company had revenue of $2.61 billion for the quarter, compared to analysts’ expectations of $2.30 billion. Quanta Services had a net margin of 3.18% and a return on equity of 8.47%. The business’s revenue was up 27.8% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.55 EPS. research analysts predict that Quanta Services will post 1.81 earnings per share for the current year.
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In related news, Director Patrick Wood III sold 4,000 shares of the firm’s stock in a transaction that occurred on Wednesday, August 23rd. The shares were sold at an average price of $34.51, for a total transaction of $138,040.00. Following the completion of the sale, the director now directly owns 7,506 shares in the company, valued at $259,032.06. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, EVP Randall C. Wisenbaker sold 9,000 shares of the firm’s stock in a transaction that occurred on Wednesday, August 30th. The stock was sold at an average price of $35.15, for a total transaction of $316,350.00. Following the sale, the executive vice president now owns 34,797 shares of the company’s stock, valued at $1,223,114.55. The disclosure for this sale can be found here. Over the last quarter, insiders sold 17,000 shares of company stock valued at $597,550. Corporate insiders own 0.70% of the company’s stock.
Several hedge funds have recently bought and sold shares of PWR. BlackRock Inc. boosted its holdings in shares of Quanta Services by 3,403.4% during the first quarter. BlackRock Inc. now owns 8,360,060 shares of the construction company’s stock worth $310,240,000 after purchasing an additional 8,121,431 shares during the period. Victory Capital Management Inc. boosted its holdings in shares of Quanta Services by 38.6% during the second quarter. Victory Capital Management Inc. now owns 6,314,406 shares of the construction company’s stock worth $207,871,000 after purchasing an additional 1,758,319 shares during the period. Janus Henderson Group PLC acquired a new stake in shares of Quanta Services during the second quarter worth approximately $36,881,000. Renaissance Technologies LLC acquired a new stake in shares of Quanta Services during the second quarter worth approximately $35,076,000. Finally, Capital Fund Management S.A. boosted its holdings in shares of Quanta Services by 1,837.5% during the second quarter. Capital Fund Management S.A. now owns 559,760 shares of the construction company’s stock worth $18,427,000 after purchasing an additional 530,869 shares during the period. Institutional investors and hedge funds own 87.18% of the company’s stock.
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.
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