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

Quanta Services (NYSE:PWR) had its price target dropped by research analysts at Stifel Nicolaus from $388.00 to $323.00 in a research report issued on Monday,Benzinga reports. The brokerage currently has a “buy” rating on the construction company’s stock. Stifel Nicolaus’ price target suggests a potential upside of 22.19% from the stock’s current price.

A number of other research analysts also recently commented on PWR. JPMorgan Chase & Co. increased their target price on Quanta Services from $297.00 to $323.00 and gave the company a “neutral” rating in a research report on Tuesday, January 28th. Daiwa Capital Markets assumed coverage on shares of Quanta Services in a report on Friday, December 6th. They issued an “outperform” rating and a $355.00 price target for the company. Truist Financial reduced their price objective on Quanta Services from $399.00 to $398.00 and set a “buy” rating on the stock in a research note on Thursday, January 16th. Guggenheim initiated coverage on Quanta Services in a report on Wednesday, January 8th. They issued a “neutral” rating for the company. Finally, Citigroup cut their target price 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. Five analysts have rated the stock with a hold rating, fifteen have given a buy rating and two have given a strong buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $326.95.

Quanta Services Price Performance

Shares of NYSE:PWR opened at $264.35 on Monday. The firm has a market cap of $39.02 billion, a price-to-earnings ratio of 43.84, a P/E/G ratio of 1.41 and a beta of 1.05. The firm has a fifty day moving average price of $312.93 and a 200 day moving average price of $305.99. Quanta Services has a fifty-two week low of $227.11 and a fifty-two week high of $365.88. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.19 and a current ratio of 1.30.

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

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Banque Transatlantique SA bought a new position in shares of Quanta Services during the fourth quarter valued at approximately $25,000. Webster Bank N. A. boosted its position 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 valued at $26,000 after acquiring an additional 81 shares in the last quarter. Quarry LP purchased a new position in shares of Quanta Services in the 4th quarter valued at $26,000. Sierra Ocean LLC bought a new position in shares of Quanta Services in the 4th quarter worth $27,000. Finally, Prestige Wealth Management Group LLC purchased a new stake in shares of Quanta Services during the 3rd quarter worth $30,000. 90.49% of the stock is currently 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.