Quanta Services Inc (PWR) Received Average Recommendation of “Purchase” from Analysts

Quanta Services Inc (PWR) Received Average Recommendation of “Purchase” from Analysts

Shares of Quanta Services Inc (NYSE:PWR) have been given a consensus recommendation of “Buy” by the twelve ratings firms that are currently covering the firm. One analyst has rated the stock with a sell rating, three have assigned a hold rating and eight have given a buy rating to the company. The average 1-year price objective among brokers that have issued ratings on the stock in the last year is $38.29.

PWR has been the subject of a number of research analyst reports. Citigroup Inc raised their price objective on shares of Quanta Services from $31.00 to $37.00 and gave the stock a “neutral” rating in a report on Monday, January 23rd. KeyCorp raised their price objective on shares of Quanta Services from $32.00 to $36.00 and gave the stock an “overweight” rating in a report on Tuesday, November 29th. Zacks Investment Research downgraded shares of Quanta Services from a “buy” rating to a “hold” rating in a report on Tuesday, January 17th. Stifel Nicolaus raised their price objective on shares of Quanta Services from $40.00 to $43.00 and gave the stock a “buy” rating in a report on Thursday, February 23rd. Finally, Credit Suisse Group AG restated a “buy” rating and set a $43.00 price objective on shares of Quanta Services in a report on Wednesday, February 22nd.

In other news, VP Nicholas M. Grindstaff sold 27,000 shares of Quanta Services stock in a transaction dated Monday, February 27th. The shares were sold at an average price of $38.20, for a total value of $1,031,400.00. Following the completion of the transaction, the vice president now owns 23,659 shares in the company, valued at $903,773.80. The transaction 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 Quanta Services stock in a transaction dated Monday, February 27th. The stock was sold at an average price of $38.08, for a total transaction of $190,400.00. Following the completion of the transaction, the director now owns 11,506 shares of the company’s stock, valued at approximately $438,148.48. The disclosure for this sale can be found here. 0.70% of the stock is owned by company insiders.

Several institutional investors have recently bought and sold shares of PWR. Tocqueville Asset Management L.P. increased its position in Quanta Services by 8.5% in the third quarter. Tocqueville Asset Management L.P. now owns 45,259 shares of the company’s stock valued at $1,267,000 after buying an additional 3,561 shares during the last quarter. DUPONT CAPITAL MANAGEMENT Corp increased its position in Quanta Services by 34.3% in the third quarter. DUPONT CAPITAL MANAGEMENT Corp now owns 281,011 shares of the company’s stock valued at $7,865,000 after buying an additional 71,800 shares during the last quarter. Russell Investments Group Ltd. acquired a new position in Quanta Services during the fourth quarter valued at $23,848,000. Bank of Montreal Can increased its position in Quanta Services by 125.0% in the third quarter. Bank of Montreal Can now owns 3,779,803 shares of the company’s stock valued at $105,797,000 after buying an additional 2,100,263 shares during the last quarter. Finally, State of Tennessee Treasury Department increased its position in Quanta Services by 9.6% in the third quarter. State of Tennessee Treasury Department now owns 183,777 shares of the company’s stock valued at $5,143,000 after buying an additional 16,107 shares during the last quarter. Hedge funds and other institutional investors own 93.05% of the company’s stock.

Shares of Quanta Services (NYSE:PWR) traded up 1.45% during trading on Tuesday, hitting $36.50. 509,400 shares of the stock traded hands. The company has a market cap of $5.52 billion, a P/E ratio of 29.01 and a beta of 0.69. Quanta Services has a 1-year low of $21.60 and a 1-year high of $38.82. The stock has a 50-day moving average of $37.21 and a 200 day moving average of $32.87.

Quanta Services (NYSE:PWR) last posted its quarterly earnings data on Tuesday, February 21st. The company reported $0.56 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.57 by $0.01. Quanta Services had a return on equity of 5.53% and a net margin of 1.42%. The company had revenue of $2.10 billion for the quarter, compared to analysts’ expectations of $2.15 billion. During the same quarter last year, the business posted $0.30 EPS. The business’s quarterly revenue was up 10.7% on a year-over-year basis. On average, equities research analysts predict that Quanta Services will post $1.98 EPS for the current fiscal year.

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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