UBS Group Boosts Quanta Services (NYSE:PWR) Price Target to $474.00

Key Points

• UBS Group has raised its price target for Quanta Services (NYSE:PWR) from $413.00 to $474.00, suggesting a possible upside of 13.95% from the current stock price.
• Multiple research firms have recently adjusted their ratings and price targets for Quanta Services, with analysts giving an average rating of "Moderate Buy" and a consensus target of $362.25.
• Quanta Services reported earnings of $1.78 per share, surpassing analysts' expectations, and marked a revenue increase of 23.9% year-over-year to $6.23 billion.
• Institutional investors hold 90.49% of Quanta Services stock, indicating strong backing from major investment firms.

Quanta Services (NYSE:PWR - Get Free Report) had its target price hoisted by equities research analysts at UBS Group from $413.00 to $474.00 in a report issued on Friday,Benzinga reports. The brokerage presently has a "buy" rating on the construction company's stock. UBS Group's price target suggests a potential upside of 12.31% from the company's previous close.

A number of other equities analysts have also issued reports on the company. The Goldman Sachs Group restated a "buy" rating and issued a $414.00 target price (up previously from $364.00) on shares of Quanta Services in a research note on Wednesday, June 4th. Northland Capmk lowered Quanta Services from a "strong-buy" rating to a "hold" rating in a research note on Wednesday, July 2nd. BMO Capital Markets lowered Quanta Services from an "outperform" rating to a "market perform" rating and raised their target price for the stock from $352.00 to $400.00 in a research note on Thursday, July 17th. Citigroup reduced their target price on Quanta Services from $366.00 to $342.00 and set a "buy" rating for the company in a research note on Friday, April 25th. Finally, Daiwa America raised shares of Quanta Services from a "hold" rating to a "strong-buy" rating in a report on Friday, April 11th. Ten equities research analysts have rated the stock with a hold rating, thirteen have given a buy rating and two have given a strong buy rating to the company. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of $362.25.

Quanta Services Stock Up 3.6%

Shares of NYSE PWR traded up $14.84 during mid-day trading on Friday, reaching $422.06. 1,370,755 shares of the company were exchanged, compared to its average volume of 1,100,229. The company has a quick ratio of 1.26, a current ratio of 1.31 and a debt-to-equity ratio of 0.58. The stock has a market cap of $62.58 billion, a price-to-earnings ratio of 68.07, a P/E/G ratio of 2.90 and a beta of 1.08. Quanta Services has a 1 year low of $227.08 and a 1 year high of $424.94. The firm has a 50-day moving average of $368.62 and a 200 day moving average of $315.83.

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 analysts' consensus estimates of $1.72 by $0.06. Quanta Services had a return on equity of 18.06% and a net margin of 3.74%. The firm had revenue of $6.23 billion during the quarter, compared to analysts' expectations of $5.88 billion. During the same period in the prior year, the business posted $1.41 EPS. The firm's quarterly revenue was up 23.9% on a year-over-year basis. On average, research analysts expect that Quanta Services will post 9.34 earnings per share for the current year.

Institutional Investors Weigh In On Quanta Services

Institutional investors and hedge funds have recently modified their holdings of the company. Norges Bank purchased a new position in Quanta Services in the fourth quarter valued at $544,937,000. Kingstone Capital Partners Texas LLC purchased a new stake in Quanta Services in the second quarter valued at $650,960,000. Nuveen LLC purchased a new stake in Quanta Services in the first quarter valued at $404,288,000. Capital World Investors lifted its position in Quanta Services by 14.1% in the fourth quarter. Capital World Investors now owns 7,223,471 shares of the construction company's stock valued at $2,282,978,000 after acquiring an additional 891,977 shares during the last quarter. Finally, GAMMA Investing LLC lifted its position in Quanta Services by 22,475.0% in the first quarter. GAMMA Investing LLC now owns 815,409 shares of the construction company's stock valued at $207,261,000 after acquiring an additional 811,797 shares during the last quarter. Hedge funds and other 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.