Quanta Services Inc (NYSE:PWR) had its target price decreased by Robert W. Baird from $43.00 to $41.00 in a research note published on Thursday morning. Robert W. Baird currently has an outperform rating on the construction company’s stock.
Other equities research analysts also recently issued research reports about the stock. Credit Suisse Group AG reaffirmed a buy rating and set a $43.00 price target on shares of Quanta Services in a research note on Wednesday, February 22nd. Stifel Nicolaus boosted their price objective on shares of Quanta Services from $40.00 to $43.00 and gave the company a buy rating in a research report on Thursday, February 23rd. FBR & Co boosted their price objective on shares of Quanta Services from $29.00 to $41.00 and gave the company a market perform rating in a research report on Thursday, January 26th. DA Davidson restated a buy rating on shares of Quanta Services in a report on Thursday, February 16th. Finally, Zacks Investment Research cut shares of Quanta Services from a hold rating to a sell rating in a report on Friday, February 24th. One research analyst has rated the stock with a sell rating, two have given a hold rating and eight have given a buy rating to the stock. The company currently has a consensus rating of Buy and an average price target of $37.38.
Shares of Quanta Services (NYSE:PWR) traded down 1.02% during midday trading on Thursday, reaching $34.85. 622,396 shares of the company’s stock traded hands. Quanta Services has a 12 month low of $21.60 and a 12 month high of $38.82. The stock has a 50-day moving average price of $36.42 and a 200 day moving average price of $34.08. The firm has a market cap of $5.27 billion, a PE ratio of 27.70 and a beta of 0.69.
Quanta Services (NYSE:PWR) last issued its quarterly earnings results on Tuesday, February 21st. The construction company reported $0.56 earnings per share for the quarter, missing the consensus estimate of $0.57 by $0.01. Quanta Services had a net margin of 1.42% and a return on equity of 5.53%. The firm had revenue of $2.10 billion for the quarter, compared to analysts’ expectations of $2.15 billion. During the same period in the prior year, the firm earned $0.30 EPS. Quanta Services’s revenue for the quarter was up 10.7% compared to the same quarter last year. Equities research analysts predict that Quanta Services will post $1.95 earnings per share for the current year.
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In other news, VP Nicholas M. Grindstaff sold 27,000 shares of the firm’s stock in a transaction that occurred on Monday, February 27th. The shares were sold at an average price of $38.20, for a total transaction of $1,031,400.00. Following the sale, the vice president now owns 23,659 shares of the company’s stock, valued at approximately $903,773.80. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Patrick Wood III sold 5,000 shares of the firm’s stock in a transaction that occurred on Monday, February 27th. The stock was sold at an average price of $38.08, for a total transaction of $190,400.00. Following the sale, the director now directly owns 11,506 shares in the company, valued at approximately $438,148.48. The disclosure for this sale can be found here. 0.70% of the stock is currently owned by corporate insiders.
Hedge funds and other institutional investors have recently made changes to their positions in the stock. Tocqueville Asset Management L.P. raised its position in shares of Quanta Services by 8.5% in the third quarter. Tocqueville Asset Management L.P. now owns 45,259 shares of the construction company’s stock worth $1,267,000 after buying an additional 3,561 shares during the last quarter. DUPONT CAPITAL MANAGEMENT Corp raised its position in shares of Quanta Services by 34.3% in the third quarter. DUPONT CAPITAL MANAGEMENT Corp now owns 281,011 shares of the construction company’s stock worth $7,865,000 after buying an additional 71,800 shares during the last quarter. Russell Investments Group Ltd. purchased a new position in shares of Quanta Services during the fourth quarter worth $23,848,000. Bank of Montreal Can raised its position in shares of Quanta Services by 125.0% in the third quarter. Bank of Montreal Can now owns 3,779,803 shares of the construction company’s stock worth $105,797,000 after buying an additional 2,100,263 shares during the last quarter. Finally, State of Tennessee Treasury Department raised its position in Quanta Services by 9.6% in the third quarter. State of Tennessee Treasury Department now owns 183,777 shares of the construction company’s stock valued at $5,143,000 after buying an additional 16,107 shares in the last quarter. Institutional investors own 93.05% of the company’s stock.
Quanta Services Company Profile
Quanta Services, Inc is a provider of specialty contracting services, offering infrastructure solutions primarily to the electric power and oil and gas industries in the United States, Canada and Australia and selected other international markets. The Company operates through two segments: Electric Power Infrastructure Services, which provides network solutions to customers in the electric power industry, and Oil and Gas Infrastructure Services, which provides network solutions to customers involved in the development and transportation of natural gas, oil and other pipeline products.
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