Quanta Services, Inc. (NYSE:PWR) Given Average Recommendation of "Moderate Buy" by Brokerages

Key Points

• Quanta Services has received a consensus rating of "Moderate Buy" from 25 research firms, with 11 analysts recommending a hold, 13 a buy, and 1 a strong buy.
• Citigroup has raised its target price for Quanta Services from $432.00 to $492.00, while Roth Capital increased its target from $350.00 to $450.00.
• The company reported a 21.1% increase in revenue in its latest quarter, achieving $6.77 billion, exceeding analyst expectations.

Shares of Quanta Services, Inc. (NYSE:PWR - Get Free Report) have received an average rating of "Moderate Buy" from the twenty-five research firms that are presently covering the company, MarketBeat.com reports. Eleven investment analysts have rated the stock with a hold recommendation, thirteen have issued a buy recommendation and one has issued a strong buy recommendation on the company. The average 1 year price objective among analysts that have covered the stock in the last year is $379.32.

A number of equities analysts recently weighed in on PWR shares. Citigroup lifted their target price on shares of Quanta Services from $432.00 to $492.00 and gave the stock a "buy" rating in a research note on Monday. Roth Capital reiterated a "buy" rating and issued a $450.00 target price (up from $350.00) on shares of Quanta Services in a report on Tuesday. Argus set a $375.00 price target on Quanta Services in a report on Monday, May 5th. Wall Street Zen upgraded shares of Quanta Services from a "hold" rating to a "buy" rating in a research report on Friday, June 27th. Finally, B. Riley increased their target price on shares of Quanta Services from $300.00 to $355.00 and gave the stock a "neutral" rating in a research note on Friday, May 2nd.

Quanta Services Stock Down 2.7%

Shares of NYSE:PWR opened at $395.18 on Friday. The company has a debt-to-equity ratio of 0.59, a quick ratio of 1.26 and a current ratio of 1.37. The company has a market capitalization of $58.59 billion, a PE ratio of 61.17, a price-to-earnings-growth ratio of 2.79 and a beta of 1.08. Quanta Services has a 52-week low of $227.08 and a 52-week high of $424.94. The company has a fifty day moving average of $375.39 and a 200-day moving average of $319.00.

Quanta Services (NYSE:PWR - Get Free Report) last issued its quarterly earnings results on Thursday, July 31st. The construction company reported $2.48 EPS for the quarter, topping analysts' consensus estimates of $2.44 by $0.04. Quanta Services had a net margin of 3.73% and a return on equity of 18.41%. The company had revenue of $6.77 billion for the quarter, compared to analyst estimates of $6.55 billion. During the same quarter in the previous year, the business earned $1.90 earnings per share. Quanta Services's revenue was up 21.1% compared to the same quarter last year. On average, equities analysts predict that Quanta Services will post 9.34 EPS for the current fiscal year.

Quanta Services Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, July 11th. Shareholders of record on Tuesday, July 1st were issued a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a yield of 0.1%. The ex-dividend date of this dividend was Tuesday, July 1st. Quanta Services's payout ratio is currently 6.19%.

Institutional Trading of Quanta Services

Institutional investors have recently made changes to their positions in the company. Biltmore Family Office LLC purchased a new position in Quanta Services in the second quarter worth $264,000. New York Life Investment Management LLC boosted its holdings in shares of Quanta Services by 1.6% in the 2nd quarter. New York Life Investment Management LLC now owns 22,197 shares of the construction company's stock worth $8,392,000 after buying an additional 359 shares during the last quarter. Howard Capital Management Inc. grew its position in Quanta Services by 27.1% during the second quarter. Howard Capital Management Inc. now owns 13,850 shares of the construction company's stock valued at $5,236,000 after buying an additional 2,951 shares during the period. Purkiss Capital Advisors LLC purchased a new stake in Quanta Services during the second quarter worth about $214,000. Finally, IQ EQ FUND MANAGEMENT IRELAND Ltd raised its position in Quanta Services by 60.6% in the second quarter. IQ EQ FUND MANAGEMENT IRELAND Ltd now owns 5,438 shares of the construction company's stock worth $2,056,000 after acquiring an additional 2,051 shares during the period. Institutional investors own 90.49% of the company's stock.

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.

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