Quanta Services, Inc. (PWR) Receives Average Rating of “Buy” from Analysts
Shares of Quanta Services, Inc. (NYSE:PWR) have been given an average rating of “Buy” by the sixteen research firms that are presently covering the firm, MarketBeat Ratings reports. One analyst has rated the stock with a sell rating, four have issued a hold rating and ten have given a buy rating to the company. The average 12-month price target among analysts that have covered the stock in the last year is $44.80.
PWR has been the subject of a number of recent analyst reports. Robert W. Baird reiterated a “hold” rating and issued a $39.00 price target on shares of Quanta Services in a research report on Friday, October 6th. Zacks Investment Research upgraded Quanta Services from a “hold” rating to a “buy” rating and set a $42.00 price target for the company in a research report on Monday, October 16th. BidaskClub lowered Quanta Services from a “hold” rating to a “sell” rating in a research report on Monday, July 24th. Stifel Nicolaus reiterated a “buy” rating and issued a $45.00 price target on shares of Quanta Services in a research report on Friday, August 4th. Finally, Seaport Global Securities reiterated a “buy” rating and issued a $45.00 price target (up previously from $41.00) on shares of Quanta Services in a research report on Wednesday, October 11th.
Quanta Services (PWR) opened at $35.84 on Friday. The company has a debt-to-equity ratio of 0.20, a current ratio of 1.85 and a quick ratio of 1.80. Quanta Services has a 1 year low of $30.23 and a 1 year high of $38.82. The firm has a market capitalization of $5,494.13, a price-to-earnings ratio of 18.59, a P/E/G ratio of 2.51 and a beta of 0.87.
Quanta Services (NYSE:PWR) last released its quarterly earnings results on Thursday, November 2nd. The construction company reported $0.63 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.61 by $0.02. Quanta Services had a return on equity of 8.47% and a net margin of 3.18%. The business had revenue of $2.61 billion during the quarter, compared to analyst estimates of $2.30 billion. During the same quarter last year, the company posted $0.55 EPS. Quanta Services’s revenue for the quarter was up 27.8% on a year-over-year basis. research analysts expect that Quanta Services will post 1.77 earnings per share for the current fiscal year.
In other news, Director Patrick Wood III sold 4,000 shares of the firm’s stock in a transaction dated Wednesday, August 23rd. The stock was 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 of the company’s stock, valued at approximately $259,032.06. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Randall C. Wisenbaker sold 9,000 shares of the firm’s stock in a transaction dated Wednesday, August 30th. The stock was sold at an average price of $35.15, for a total value of $316,350.00. Following the sale, the executive vice president now directly owns 34,797 shares of the company’s stock, valued at $1,223,114.55. The disclosure for this sale can be found here. Company insiders own 0.70% of the company’s stock.
Several institutional investors and hedge funds have recently bought and sold shares of PWR. Tower Research Capital LLC TRC raised its stake in shares of Quanta Services by 182.5% during the 2nd quarter. Tower Research Capital LLC TRC now owns 3,390 shares of the construction company’s stock worth $112,000 after purchasing an additional 2,190 shares in the last quarter. Bessemer Group Inc. raised its stake in shares of Quanta Services by 22.2% during the 2nd quarter. Bessemer Group Inc. now owns 4,628 shares of the construction company’s stock worth $152,000 after purchasing an additional 840 shares in the last quarter. Commonwealth Bank of Australia purchased a new stake in shares of Quanta Services during the 2nd quarter worth about $164,000. Zurcher Kantonalbank Zurich Cantonalbank raised its stake in shares of Quanta Services by 14.0% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 5,748 shares of the construction company’s stock worth $189,000 after purchasing an additional 708 shares in the last quarter. Finally, Global X Management Co. LLC raised its stake in shares of Quanta Services by 129.4% during the 2nd quarter. Global X Management Co. LLC now owns 5,766 shares of the construction company’s stock worth $190,000 after purchasing an additional 3,253 shares in the last quarter. 86.82% of the stock is owned by institutional investors.
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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.
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