Quanta Services (NYSE:PWR) Given New $432.00 Price Target at Stifel Nicolaus

Key Points

• Quanta Services had its price target raised by Stifel Nicolaus from $411.00 to $432.00, indicating a potential upside of 9.81% from its current stock price.
• Citigroup also increased their target price for Quanta Services to $492.00, with several other firms rating the stock as a "buy" or "strong buy."
• Quanta Services reported $2.48 earnings per share for the last quarter, surpassing analysts' expectations and showcasing a 21.1% year-over-year revenue growth to $6.77 billion.

Quanta Services (NYSE:PWR - Get Free Report) had its price target raised by equities research analysts at Stifel Nicolaus from $411.00 to $432.00 in a research note issued on Monday,Benzinga reports. The brokerage currently has a "buy" rating on the construction company's stock. Stifel Nicolaus' target price would indicate a potential upside of 9.81% from the stock's current price.

A number of other equities research analysts also recently weighed in on the company. Citigroup lifted their target price on Quanta Services from $432.00 to $492.00 and gave the stock a "buy" rating in a research report on Monday, July 28th. The Goldman Sachs Group reissued a "buy" rating and set a $414.00 target price (up from $364.00) on shares of Quanta Services in a research report on Wednesday, June 4th. TD Cowen lifted their target price on Quanta Services from $335.00 to $355.00 and gave the stock a "buy" rating in a research report on Wednesday, May 7th. Daiwa America raised Quanta Services from a "hold" rating to a "strong-buy" rating in a research report on Friday, April 11th. Finally, Evercore ISI lifted their target price on Quanta Services from $331.00 to $360.00 and gave the stock an "outperform" rating in a research report on Friday, May 2nd. Eleven investment analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $387.00.

Quanta Services Stock Performance

Shares of PWR traded down $1.76 during mid-day trading on Monday, hitting $393.41. The company's stock had a trading volume of 658,998 shares, compared to its average volume of 1,442,034. The stock's 50-day moving average is $375.39 and its two-hundred day moving average is $318.81. The firm has a market capitalization of $58.62 billion, a PE ratio of 60.90, a price-to-earnings-growth ratio of 2.71 and a beta of 1.10. The company has a debt-to-equity ratio of 0.59, a quick ratio of 1.32 and a current ratio of 1.37. Quanta Services has a one year low of $227.08 and a one year high of $424.94.

Quanta Services (NYSE:PWR - Get Free Report) last issued its quarterly earnings results on Thursday, July 31st. The construction company reported $2.48 earnings per share for the quarter, beating 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 firm had revenue of $6.77 billion during the quarter, compared to the consensus estimate of $6.55 billion. During the same period in the prior year, the firm earned $1.90 EPS. The business's revenue was up 21.1% on a year-over-year basis. As a group, sell-side analysts anticipate that Quanta Services will post 9.34 EPS for the current year.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the company. Banque Transatlantique SA bought a new position in Quanta Services in the 4th quarter worth approximately $25,000. Cullen Frost Bankers Inc. bought a new position in Quanta Services in the 1st quarter worth approximately $25,000. Copia Wealth Management raised its position in Quanta Services by 509.1% in the 2nd quarter. Copia Wealth Management now owns 67 shares of the construction company's stock worth $25,000 after purchasing an additional 56 shares during the last quarter. Quarry LP bought a new position in Quanta Services in the 4th quarter worth approximately $26,000. Finally, SOA Wealth Advisors LLC. raised its position in Quanta Services by 159.3% in the 2nd quarter. SOA Wealth Advisors LLC. now owns 70 shares of the construction company's stock worth $26,000 after purchasing an additional 43 shares during the last quarter. Institutional investors own 90.49% of the company's stock.

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.

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