Quanta Services (NYSE:PWR) Given "Buy" Rating at The Goldman Sachs Group

Quanta Services (NYSE:PWR - Get Free Report)'s stock had its "buy" rating reiterated by equities research analysts at The Goldman Sachs Group in a research note issued to investors on Wednesday, Marketbeat reports. They currently have a $414.00 price target on the construction company's stock, up from their previous price target of $364.00. The Goldman Sachs Group's target price would indicate a potential upside of 14.62% from the stock's previous close.

PWR has been the topic of several other reports. B. Riley lifted their target price on Quanta Services from $300.00 to $355.00 and gave the company a "neutral" rating in a research report on Friday, May 2nd. Stifel Nicolaus lifted their price objective on Quanta Services from $306.00 to $363.00 and gave the company a "buy" rating in a research report on Monday, May 5th. Roth Capital upgraded Quanta Services to a "strong-buy" rating in a research note on Thursday, February 20th. Daiwa Capital Markets cut shares of Quanta Services from an "outperform" rating to a "neutral" rating in a research note on Monday, February 24th. Finally, BMO Capital Markets set a $352.00 price target on shares of Quanta Services in a report on Friday, May 2nd. Six analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and two have issued a strong buy rating to the company's stock. According to MarketBeat, Quanta Services presently has a consensus rating of "Moderate Buy" and a consensus price target of $347.35.

Quanta Services Stock Performance

PWR stock traded up $1.62 during trading on Wednesday, reaching $361.20. The stock had a trading volume of 700,625 shares, compared to its average volume of 1,530,516. The firm has a market cap of $53.55 billion, a PE ratio of 59.90, a PEG ratio of 1.41 and a beta of 1.07. The company has a current ratio of 1.30, a quick ratio of 1.19 and a debt-to-equity ratio of 0.56. The stock's 50 day moving average is $306.00 and its two-hundred day moving average is $304.24. Quanta Services has a 52 week low of $227.08 and a 52 week high of $365.88.

Quanta Services (NYSE:PWR - Get Free Report) last issued its quarterly earnings data on Thursday, May 1st. The construction company reported $1.78 earnings per share for the quarter, topping the consensus estimate of $1.72 by $0.06. The firm had revenue of $6.23 billion for 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 quarterly revenue was up 23.9% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.41 EPS. As a group, equities analysts anticipate that Quanta Services will post 9.34 earnings per share for the current year.

Hedge Funds Weigh In On Quanta Services

Several large investors have recently modified their holdings of PWR. Banque Transatlantique SA purchased a new position in Quanta Services during the fourth quarter worth $25,000. Cullen Frost Bankers Inc. purchased a new position in shares of Quanta Services during the 1st quarter worth about $25,000. Quarry LP bought a new position in Quanta Services during the 4th quarter valued at about $26,000. Sierra Ocean LLC purchased a new stake in Quanta Services in the 4th quarter worth about $27,000. Finally, WPG Advisers LLC purchased a new stake in Quanta Services in the 1st quarter worth about $31,000. 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.