TD Cowen Forecasts Strong Price Appreciation for Quanta Services (NYSE:PWR) Stock

Quanta Services (NYSE:PWR - Free Report) had its target price upped by TD Cowen from $335.00 to $355.00 in a research report sent to investors on Wednesday morning, MarketBeat.com reports. The firm currently has a buy rating on the construction company's stock.

Several other research firms also recently commented on PWR. JPMorgan Chase & Co. lifted their target price on shares of Quanta Services from $297.00 to $323.00 and gave the stock a "neutral" rating in a research report on Tuesday, January 28th. Daiwa Capital Markets cut shares of Quanta Services from an "outperform" rating to a "neutral" rating in a research note on Monday, February 24th. Stifel Nicolaus raised their target price on Quanta Services from $306.00 to $363.00 and gave the stock a "buy" rating in a research report on Monday, May 5th. B. Riley upped their price target on Quanta Services from $300.00 to $355.00 and gave the company a "neutral" rating in a research report on Friday, May 2nd. Finally, Guggenheim initiated coverage on Quanta Services in a research report on Wednesday, January 8th. They set a "neutral" rating for the company. Six equities research analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and two have given a strong buy rating to the company's stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $344.35.

Quanta Services Price Performance

Shares of PWR traded up $9.93 during midday trading on Wednesday, hitting $335.82. The company's stock had a trading volume of 691,928 shares, compared to its average volume of 1,608,497. The company has a quick ratio of 1.19, a current ratio of 1.30 and a debt-to-equity ratio of 0.56. Quanta Services has a one year low of $227.08 and a one year high of $365.88. The stock has a market capitalization of $49.79 billion, a price-to-earnings ratio of 55.69, a price-to-earnings-growth ratio of 1.41 and a beta of 1.02. The company's fifty day simple moving average is $271.55 and its two-hundred day simple moving average is $300.57.

Quanta Services (NYSE:PWR - Get Free Report) last posted its earnings results on Thursday, May 1st. The construction company reported $1.78 EPS for the quarter, topping analysts' consensus estimates of $1.72 by $0.06. The firm had revenue of $6.23 billion during the quarter, compared to analysts' expectations of $5.88 billion. Quanta Services had a net margin of 3.82% and a return on equity of 18.00%. The business's revenue for the quarter was up 23.9% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.41 earnings per share. As a group, equities analysts expect that Quanta Services will post 9.34 earnings per share for the current fiscal year.

Quanta Services Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, April 11th. Investors of record on Thursday, April 3rd were issued a $0.10 dividend. The ex-dividend date of this dividend was Thursday, April 3rd. This represents a $0.40 dividend on an annualized basis and a yield of 0.12%. Quanta Services's dividend payout ratio is presently 6.45%.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the company. Frank Rimerman Advisors LLC grew its holdings in Quanta Services by 1.1% during the 1st quarter. Frank Rimerman Advisors LLC now owns 3,114 shares of the construction company's stock valued at $792,000 after purchasing an additional 34 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. grew its position in shares of Quanta Services by 4,143.7% during the 1st quarter. Connor Clark & Lunn Investment Management Ltd. now owns 66,498 shares of the construction company's stock worth $16,902,000 after buying an additional 64,931 shares in the last quarter. Cynosure Group LLC raised its holdings in shares of Quanta Services by 53.9% in the first quarter. Cynosure Group LLC now owns 2,725 shares of the construction company's stock valued at $693,000 after acquiring an additional 954 shares in the last quarter. Zions Bancorporation National Association UT purchased a new stake in shares of Quanta Services in the 1st quarter worth approximately $40,000. Finally, Townsquare Capital LLC lifted its holdings in Quanta Services by 23.3% during the first quarter. Townsquare Capital LLC now owns 5,678 shares of the construction company's stock worth $1,443,000 after buying an additional 1,074 shares during the period. 90.49% of the stock is currently owned by institutional investors.

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.