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

Quanta Services (NYSE:PWR) had its price objective cut by analysts at Citigroup from $394.00 to $371.00 in a research note issued to investors on Wednesday,Benzinga reports. The brokerage presently has a “buy” rating on the construction company’s stock. Citigroup’s price objective suggests a potential upside of 26.31% from the stock’s previous close.

Other analysts have also issued research reports about the stock. Bank of America assumed coverage on shares of Quanta Services in a research report on Friday, January 24th. They set a “buy” rating and a $407.00 price target on the stock. Northland Securities restated an “outperform” rating and set a $328.00 price objective (up from $280.00) on shares of Quanta Services in a research report on Friday, November 1st. Stifel Nicolaus lifted their target price on Quanta Services from $374.00 to $388.00 and gave the company a “buy” rating in a research report on Wednesday, January 22nd. JPMorgan Chase & Co. raised their price target on shares of Quanta Services from $297.00 to $323.00 and gave the company a “neutral” rating in a research note on Tuesday. Finally, Daiwa America upgraded shares of Quanta Services to a “strong-buy” rating in a research report on Friday, December 6th. Four research analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $330.06.

Quanta Services Trading Up 0.4 %

Shares of NYSE:PWR opened at $293.72 on Wednesday. The company has a market capitalization of $43.36 billion, a P/E ratio of 54.19 and a beta of 1.06. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.23 and a quick ratio of 1.19. The business’s 50 day simple moving average is $330.55 and its 200 day simple moving average is $300.60. Quanta Services has a 1 year low of $193.52 and a 1 year high of $365.88.

Quanta Services (NYSE:PWR) last issued its quarterly earnings results on Thursday, October 31st. The construction company reported $2.72 EPS for the quarter, topping analysts’ consensus estimates of $2.46 by $0.26. Quanta Services had a return on equity of 16.71% and a net margin of 3.54%. The company had revenue of $6.49 billion for the quarter, compared to analysts’ expectations of $6.56 billion. During the same quarter last year, the business earned $2.08 earnings per share. Quanta Services’s revenue was up 15.5% on a year-over-year basis. On average, research analysts anticipate that Quanta Services will post 7.9 EPS for the current fiscal year.

Institutional Investors Weigh In On Quanta Services

Large investors have recently modified their holdings of the company. Webster Bank N. A. grew its holdings in Quanta Services by 4,050.0% during the 4th quarter. Webster Bank N. A. now owns 83 shares of the construction company’s stock worth $26,000 after acquiring an additional 81 shares during the period. Prestige Wealth Management Group LLC acquired a new stake in Quanta Services during the third quarter worth approximately $30,000. Legacy Investment Solutions LLC bought a new stake in Quanta Services in the third quarter worth approximately $31,000. Sound Income Strategies LLC lifted its stake in Quanta Services by 700.0% in the fourth quarter. Sound Income Strategies LLC now owns 104 shares of the construction company’s stock valued at $33,000 after buying an additional 91 shares during the period. Finally, Versant Capital Management Inc boosted its holdings in shares of Quanta Services by 62.5% during the 4th quarter. Versant Capital Management Inc now owns 117 shares of the construction company’s stock worth $37,000 after buying an additional 45 shares in the last quarter. 90.49% of the stock is currently owned by institutional investors and hedge funds.

Quanta Services Company Profile

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.