Quanta Services (NYSE:PWR) Price Target Raised to $432.00 at Stifel Nicolaus

Quanta Services (NYSE:PWR) had its price objective raised by Stifel Nicolaus from $411.00 to $432.00 in a report released on Monday,Benzinga reports. Stifel Nicolaus currently has a buy rating on the construction company’s stock.

Several other brokerages have also issued reports on PWR. BMO Capital Markets lowered shares of Quanta Services from an “outperform” rating to a “market perform” rating and lifted their price target for the company from $352.00 to $400.00 in a research note on Thursday, July 17th. Evercore ISI lifted their price target on shares of Quanta Services from $331.00 to $360.00 and gave the company an “outperform” rating in a research note on Friday, May 2nd. Daiwa America upgraded shares of Quanta Services from a “hold” rating to a “strong-buy” rating in a research note on Friday, April 11th. The Goldman Sachs Group restated a “buy” rating and set a $414.00 price objective (up from $364.00) on shares of Quanta Services in a research note on Wednesday, June 4th. Finally, Northland Capmk lowered shares of Quanta Services from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, July 2nd. Eleven research analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $387.00.

Quanta Services Trading Down 0.5%

Shares of NYSE:PWR opened at $393.19 on Monday. Quanta Services has a 12 month low of $227.08 and a 12 month high of $424.94. The company has a quick ratio of 1.32, a current ratio of 1.37 and a debt-to-equity ratio of 0.59. The company’s fifty day simple moving average is $376.54 and its 200 day simple moving average is $319.21. The firm has a market cap of $58.30 billion, a price-to-earnings ratio of 60.87, a PEG ratio of 2.71 and a beta of 1.10.

Quanta Services (NYSE:PWR) last issued its quarterly earnings results on Thursday, July 31st. The construction company reported $2.48 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.44 by $0.04. Quanta Services had a net margin of 3.73% and a return on equity of 18.41%. The firm had revenue of $6.77 billion for the quarter, compared to analyst estimates of $6.55 billion. During the same period in the previous year, the business earned $1.90 EPS. The company’s revenue was up 21.1% compared to the same quarter last year. As a group, research analysts forecast that Quanta Services will post 9.34 EPS for the current fiscal year.

Quanta Services Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, July 11th. Investors of record on Tuesday, July 1st were issued a dividend of $0.10 per share. The ex-dividend date of this dividend was Tuesday, July 1st. This represents a $0.40 annualized dividend and a dividend yield of 0.1%. Quanta Services’s payout ratio is presently 6.19%.

Institutional Trading of Quanta Services

A number of institutional investors have recently bought and sold shares of PWR. Brighton Jones LLC bought a new stake in Quanta Services in the 4th quarter valued at about $298,000. World Investment Advisors bought a new stake in Quanta Services in the 4th quarter valued at about $229,000. ExodusPoint Capital Management LP bought a new stake in Quanta Services in the 4th quarter valued at about $2,541,000. Prudential PLC boosted its holdings in Quanta Services by 20.2% in the 4th quarter. Prudential PLC now owns 4,966 shares of the construction company’s stock valued at $1,570,000 after purchasing an additional 834 shares during the period. Finally, Smith Moore & CO. bought a new stake in Quanta Services in the 4th quarter valued at about $206,000. Institutional investors own 90.49% of the company’s stock.

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.