Quanta Services (NYSE:PWR) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a report issued on Friday. The firm currently has a $39.00 price target on the construction company’s stock. Zacks Investment Research‘s price objective would suggest a potential upside of 16.31% from the stock’s current price.

According to Zacks, “Quanta Services remains confident about the prospects of its end markets over the next two years, as CAPEX and OPEX spends are expected to rise. The company’s communications infrastructure services business is also anticipated to benefit from present industry trends. Going forward, the company expects strong performance from pipeline projects, driven by a considerable increase in large pipeline revenue contributions. Additionally, Quanta Services is actively pursuing opportunities with various U.S. telecom and cable MSOs. Also, the company's recent bolt-on acquisitions to stoke growth looks impressive. However, shares of Quanta Services have underperformed the industry in the last three months. Moreover, current volatility in the oil and gas market, along with reduced consumer spending, has been affecting the company’s projects and orders, adding to woes.”

A number of other analysts also recently commented on the stock. Robert W. Baird set a $42.00 target price on shares of Quanta Services and gave the stock a “hold” rating in a report on Wednesday, January 3rd. Citigroup set a $47.00 target price on shares of Quanta Services and gave the stock a “buy” rating in a report on Friday, October 27th. B. Riley boosted their target price on shares of Quanta Services from $45.00 to $48.00 and gave the stock a “buy” rating in a report on Tuesday, November 7th. KeyCorp reiterated a “buy” rating and issued a $45.00 target price on shares of Quanta Services in a report on Friday, November 3rd. Finally, Stifel Nicolaus restated a “buy” rating on shares of Quanta Services in a report on Thursday, December 14th. One analyst has rated the stock with a sell rating, two have issued a hold rating and twelve have given a buy rating to the company. Quanta Services currently has an average rating of “Buy” and an average price target of $45.33.

Shares of Quanta Services (NYSE PWR) opened at $33.53 on Friday. The company has a quick ratio of 1.80, a current ratio of 1.85 and a debt-to-equity ratio of 0.20. Quanta Services has a fifty-two week low of $30.23 and a fifty-two week high of $40.10. The company has a market cap of $5,187.79, a P/E ratio of 17.55, a P/E/G ratio of 1.72 and a beta of 0.79.

Several hedge funds have recently added to or reduced their stakes in the company. M&T Bank Corp raised its holdings in shares of Quanta Services by 8.6% during the second quarter. M&T Bank Corp now owns 8,806 shares of the construction company’s stock valued at $290,000 after acquiring an additional 695 shares during the period. Suntrust Banks Inc. grew its position in Quanta Services by 7.5% during the second quarter. Suntrust Banks Inc. now owns 10,077 shares of the construction company’s stock valued at $331,000 after purchasing an additional 700 shares in the last quarter. Nomura Holdings Inc. grew its position in Quanta Services by 7.6% during the second quarter. Nomura Holdings Inc. now owns 11,280 shares of the construction company’s stock valued at $371,000 after purchasing an additional 794 shares in the last quarter. Brown Advisory Inc. grew its position in Quanta Services by 3.8% during the third quarter. Brown Advisory Inc. now owns 38,146 shares of the construction company’s stock valued at $1,425,000 after purchasing an additional 1,400 shares in the last quarter. Finally, Chevy Chase Trust Holdings Inc. grew its position in Quanta Services by 0.4% during the fourth quarter. Chevy Chase Trust Holdings Inc. now owns 370,657 shares of the construction company’s stock valued at $14,496,000 after purchasing an additional 1,410 shares in the last quarter. Institutional investors and hedge funds own 86.68% of the company’s stock.

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Quanta Services Company Profile

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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