Stifel Nicolaus Has Lowered Expectations for Quanta Services (NYSE:PWR) Stock Price

Quanta Services (NYSE:PWR) had its target price reduced by Stifel Nicolaus from $388.00 to $323.00 in a report published on Monday morning,Benzinga reports. Stifel Nicolaus currently has a buy rating on the construction company’s stock.

PWR has been the topic of a number of other reports. Guggenheim initiated coverage on Quanta Services in a report on Wednesday, January 8th. They set a “neutral” rating on the stock. Northland Securities reissued an “outperform” rating and set a $328.00 target price (up from $280.00) on shares of Quanta Services in a research note on Friday, November 1st. Daiwa Capital Markets began coverage on Quanta Services in a research note on Friday, December 6th. They set an “outperform” rating and a $355.00 target price on the stock. JPMorgan Chase & Co. lifted their price target on Quanta Services from $297.00 to $323.00 and gave the company a “neutral” rating in a research report on Tuesday, January 28th. Finally, Citigroup dropped their price target on Quanta Services from $394.00 to $371.00 and set a “buy” rating on the stock in a research report on Wednesday, January 29th. Six investment analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $326.95.

Quanta Services Stock Performance

Shares of PWR opened at $268.86 on Monday. The company has a market cap of $39.84 billion, a PE ratio of 44.59, a price-to-earnings-growth ratio of 1.41 and a beta of 1.05. The company has a current ratio of 1.30, a quick ratio of 1.19 and a debt-to-equity ratio of 0.56. The stock has a 50-day moving average price of $311.89 and a 200-day moving average price of $305.73. Quanta Services has a 12-month low of $227.11 and a 12-month high of $365.88.

Quanta Services (NYSE:PWR) last issued its quarterly earnings results on Thursday, February 20th. The construction company reported $2.74 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.62 by $0.12. The firm had revenue of $6.55 billion during the quarter, compared to the consensus estimate of $6.61 billion. Quanta Services had a return on equity of 18.00% and a net margin of 3.82%. As a group, equities analysts forecast that Quanta Services will post 9.34 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the business. Banque Transatlantique SA bought a new position in shares of Quanta Services during the fourth quarter valued at $25,000. Quarry LP purchased a new stake in Quanta Services in the fourth quarter worth about $26,000. Webster Bank N. A. increased its position in Quanta Services by 4,050.0% in the fourth quarter. Webster Bank N. A. now owns 83 shares of the construction company’s stock worth $26,000 after buying an additional 81 shares in the last quarter. Sierra Ocean LLC purchased a new stake in Quanta Services in the fourth quarter worth about $27,000. Finally, Legacy Investment Solutions LLC bought a new position in shares of Quanta Services in the third quarter worth about $31,000. 90.49% of the stock is owned by institutional investors.

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.