Shares of Quanta Services Inc. (NYSE:PWR) rose 1.7% during trading on Friday after Stifel Nicolaus raised their price target on the stock from $28.00 to $32.50. Stifel Nicolaus currently has a buy rating on the stock. Quanta Services traded as high as $26.55 and last traded at $26.39, with a volume of 1,238,774 shares changing hands. The stock had previously closed at $25.94.
A number of other brokerages have also recently issued reports on PWR. Zacks Investment Research cut shares of Quanta Services from a “hold” rating to a “sell” rating in a research note on Tuesday, July 12th. Citigroup Inc. reduced their price objective on shares of Quanta Services from $27.00 to $26.00 and set a “neutral” rating on the stock in a research note on Friday, August 5th. Credit Suisse Group AG reaffirmed a “buy” rating and issued a $26.00 price objective on shares of Quanta Services in a research note on Monday, August 8th. Finally, Deutsche Bank AG reaffirmed a “buy” rating on shares of Quanta Services in a research note on Saturday, August 6th. Five analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. The company currently has an average rating of “Buy” and a consensus price target of $26.65.
In related news, EVP Randall C. Wisenbaker sold 5,121 shares of the firm’s stock in a transaction on Wednesday, August 24th. The shares were sold at an average price of $26.36, for a total transaction of $134,989.56. Following the sale, the executive vice president now directly owns 40,193 shares in the company, valued at $1,059,487.48. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Corporate insiders own 0.70% of the company’s stock.
Several large investors have recently modified their holdings of the company. Exxonmobil Investment Management Inc. TX raised its stake in shares of Quanta Services by 0.5% in the second quarter. Exxonmobil Investment Management Inc. TX now owns 39,096 shares of the company’s stock worth $904,000 after buying an additional 193 shares during the last quarter. LaSalle Street Capital Management LLC raised its stake in shares of Quanta Services by 0.7% in the second quarter. LaSalle Street Capital Management LLC now owns 36,843 shares of the company’s stock worth $852,000 after buying an additional 271 shares during the last quarter. First Allied Advisory Services Inc. raised its stake in shares of Quanta Services by 3.2% in the second quarter. First Allied Advisory Services Inc. now owns 9,994 shares of the company’s stock worth $230,000 after buying an additional 306 shares during the last quarter. Endurance Wealth Management Inc. raised its stake in shares of Quanta Services by 1.1% in the second quarter. Endurance Wealth Management Inc. now owns 35,632 shares of the company’s stock worth $823,000 after buying an additional 400 shares during the last quarter. Finally, Ngam Advisors L.P. raised its stake in shares of Quanta Services by 3.1% in the second quarter. Ngam Advisors L.P. now owns 13,503 shares of the company’s stock worth $312,000 after buying an additional 403 shares during the last quarter. Institutional investors and hedge funds own 87.80% of the company’s stock.
The company has a 50 day moving average price of $25.55 and a 200 day moving average price of $23.95. The company has a market cap of $3.96 billion, a price-to-earnings ratio of 17.71 and a beta of 0.67.
Quanta Services (NYSE:PWR) last released its quarterly earnings data on Thursday, August 4th. The company reported $0.18 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.36 by $0.18. The company had revenue of $1.15 billion for the quarter, compared to analyst estimates of $1.86 billion. Quanta Services had a return on equity of 4.68% and a net margin of 3.38%. Quanta Services’s revenue for the quarter was down 4.4% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.24 earnings per share. Equities research analysts predict that Quanta Services Inc. will post $1.55 EPS for the current 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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