Quanta Services’ (PWR) Buy Rating Reaffirmed at Stifel Nicolaus

Stifel Nicolaus restated their buy rating on shares of Quanta Services (NYSE:PWR) in a report published on Thursday morning.

Other analysts have also issued research reports about the company. B. Riley boosted their price target on Quanta Services from $45.00 to $48.00 and gave the company a buy rating in a report on Tuesday, November 7th. KeyCorp reissued a buy rating and set a $46.00 price target on shares of Quanta Services in a report on Wednesday, November 29th. Citigroup raised Quanta Services from a neutral rating to a buy rating and set a $40.00 price target for the company in a report on Friday, August 18th. BidaskClub lowered Quanta Services from a hold rating to a sell rating in a research note on Friday, August 18th. Finally, ValuEngine lowered Quanta Services from a buy rating to a hold rating in a research note on Tuesday, October 10th. One research analyst has rated the stock with a sell rating, three have given a hold rating and ten have assigned a buy rating to the stock. Quanta Services currently has a consensus rating of Buy and an average price target of $44.64.

Quanta Services (PWR) traded down $0.85 during mid-day trading on Thursday, hitting $37.44. The stock had a trading volume of 1,355,800 shares, compared to its average volume of 1,561,140. Quanta Services has a 52-week low of $30.23 and a 52-week high of $39.67. The company has a quick ratio of 1.80, a current ratio of 1.85 and a debt-to-equity ratio of 0.20. The stock has a market capitalization of $5,924.26, a PE ratio of 20.05, a P/E/G ratio of 2.70 and a beta of 0.86.

Quanta Services (NYSE:PWR) last issued its quarterly earnings data on Thursday, November 2nd. The construction company reported $0.63 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.61 by $0.02. Quanta Services had a return on equity of 8.47% and a net margin of 3.18%. The company had revenue of $2.61 billion during the quarter, compared to analyst estimates of $2.30 billion. During the same quarter in the previous year, the company posted $0.55 earnings per share. Quanta Services’s revenue was up 27.8% compared to the same quarter last year. analysts expect that Quanta Services will post 1.77 EPS for the current year.

A number of hedge funds have recently modified their holdings of PWR. Mckinley Capital Management LLC Delaware purchased a new stake in shares of Quanta Services in the third quarter worth approximately $111,000. Tower Research Capital LLC TRC raised its holdings in shares of Quanta Services by 182.5% in the second quarter. Tower Research Capital LLC TRC now owns 3,390 shares of the construction company’s stock worth $112,000 after buying an additional 2,190 shares during the period. Bessemer Group Inc. raised its holdings in shares of Quanta Services by 22.2% in the second quarter. Bessemer Group Inc. now owns 4,628 shares of the construction company’s stock worth $152,000 after buying an additional 840 shares during the period. Commonwealth Bank of Australia purchased a new stake in shares of Quanta Services in the second quarter worth approximately $164,000. Finally, Intact Investment Management Inc. purchased a new stake in shares of Quanta Services in the third quarter worth approximately $209,000. Institutional investors and hedge funds own 86.11% of the company’s stock.

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About Quanta Services

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.

Analyst Recommendations for Quanta Services (NYSE:PWR)

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