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

Quanta Services (NYSE:PWR) had its price objective decreased by stock analysts at Stifel Nicolaus from $388.00 to $323.00 in a report issued on Monday,Benzinga reports. The brokerage currently has a “buy” rating on the construction company’s stock. Stifel Nicolaus’ price objective points to a potential upside of 22.67% from the company’s previous close.

Several other brokerages also recently issued reports on PWR. Northland Securities reaffirmed an “outperform” rating and issued a $328.00 price objective (up previously from $280.00) on shares of Quanta Services in a research report on Friday, November 1st. Guggenheim assumed coverage on shares of Quanta Services in a report on Wednesday, January 8th. They set a “neutral” rating for the company. Roth Mkm started coverage on shares of Quanta Services in a research note on Friday. They set a “buy” rating and a $350.00 price target on the stock. Truist Financial decreased their price objective on shares of Quanta Services from $399.00 to $398.00 and set a “buy” rating for the company in a research report on Thursday, January 16th. Finally, Bank of America assumed coverage on Quanta Services in a research report on Friday, January 24th. They set a “buy” rating and a $407.00 target price on the stock. Four equities research analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $328.11.

Quanta Services Trading Down 2.2 %

Shares of Quanta Services stock traded down $6.06 during trading hours on Monday, hitting $263.30. The company’s stock had a trading volume of 630,841 shares, compared to its average volume of 1,563,130. The company has a quick ratio of 1.19, a current ratio of 1.30 and a debt-to-equity ratio of 0.56. The company has a market capitalization of $38.87 billion, a PE ratio of 43.67, a P/E/G ratio of 1.41 and a beta of 1.05. The business has a fifty day moving average of $316.02 and a 200 day moving average of $305.98. Quanta Services has a 1-year low of $227.11 and a 1-year high of $365.88.

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

Hedge Funds Weigh In On Quanta Services

Several hedge funds and other institutional investors have recently added to or reduced their stakes in PWR. United Advisor Group LLC bought a new stake in Quanta Services in the fourth quarter worth approximately $279,000. Challenger Wealth Management acquired a new stake in shares of Quanta Services in the 4th quarter valued at $610,000. Mackenzie Financial Corp boosted its holdings in Quanta Services by 5.4% in the fourth quarter. Mackenzie Financial Corp now owns 13,242 shares of the construction company’s stock worth $4,185,000 after purchasing an additional 677 shares in the last quarter. Forum Financial Management LP increased its position in Quanta Services by 8.7% during the fourth quarter. Forum Financial Management LP now owns 3,839 shares of the construction company’s stock worth $1,213,000 after buying an additional 307 shares during the last quarter. Finally, Castlekeep Investment Advisors LLC bought a new position in Quanta Services during the fourth quarter valued at about $306,000. Institutional investors own 90.49% of the company’s stock.

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.