Quanta Services (NYSE:PWR) Price Target Increased to $280.00 by Analysts at TD Cowen

Quanta Services (NYSE:PWR) had its target price lifted by equities researchers at TD Cowen from $270.00 to $280.00 in a research note issued to investors on Thursday, Marketbeat.com reports. The firm presently has a “buy” rating on the construction company’s stock. TD Cowen’s price objective would suggest a potential upside of 7.85% from the stock’s previous close.

PWR has been the topic of a number of other reports. Evercore ISI increased their price target on shares of Quanta Services from $255.00 to $288.00 and gave the company an “outperform” rating in a research report on Tuesday, May 7th. Argus increased their price target on shares of Quanta Services from $285.00 to $310.00 and gave the company a “buy” rating in a research report on Thursday, May 30th. DA Davidson increased their price target on shares of Quanta Services from $225.00 to $250.00 and gave the company a “neutral” rating in a research report on Tuesday, May 7th. Truist Financial reiterated a “buy” rating and set a $319.00 price target (up from $305.00) on shares of Quanta Services in a research report on Monday, August 5th. Finally, B. Riley increased their price target on shares of Quanta Services from $286.00 to $303.00 and gave the company a “buy” rating in a research report on Friday, August 2nd. Three analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. According to MarketBeat, Quanta Services has a consensus rating of “Moderate Buy” and an average target price of $287.09.

Quanta Services Price Performance

Shares of PWR stock traded down $3.18 during trading on Thursday, hitting $259.62. The company had a trading volume of 802,331 shares, compared to its average volume of 1,169,706. The company has a quick ratio of 1.25, a current ratio of 1.30 and a debt-to-equity ratio of 0.45. The stock’s 50-day moving average is $262.09 and its two-hundred day moving average is $250.69. The stock has a market capitalization of $38.01 billion, a price-to-earnings ratio of 50.31 and a beta of 1.03. Quanta Services has a 52 week low of $153.74 and a 52 week high of $286.87.

Quanta Services (NYSE:PWR) last posted its quarterly earnings data on Thursday, August 1st. The construction company reported $1.90 earnings per share for the quarter, topping the consensus estimate of $1.75 by $0.15. The company had revenue of $5.59 billion for the quarter, compared to analysts’ expectations of $5.51 billion. Quanta Services had a net margin of 3.59% and a return on equity of 16.29%. Quanta Services’s revenue for the quarter was up 10.8% compared to the same quarter last year. During the same period in the prior year, the business earned $1.47 earnings per share. As a group, analysts predict that Quanta Services will post 7.71 EPS for the current fiscal year.

Institutional Trading of Quanta Services

Several large investors have recently added to or reduced their stakes in PWR. Artisan Partners Limited Partnership boosted its holdings in Quanta Services by 384.9% in the fourth quarter. Artisan Partners Limited Partnership now owns 2,438,653 shares of the construction company’s stock valued at $526,261,000 after acquiring an additional 1,935,786 shares in the last quarter. Norges Bank bought a new stake in shares of Quanta Services during the 4th quarter valued at $335,777,000. Public Employees Retirement Association of Colorado boosted its holdings in shares of Quanta Services by 20,298.9% during the 4th quarter. Public Employees Retirement Association of Colorado now owns 1,057,681 shares of the construction company’s stock valued at $228,248,000 after buying an additional 1,052,496 shares in the last quarter. Swedbank AB bought a new stake in shares of Quanta Services during the 1st quarter valued at $227,218,000. Finally, Capital World Investors boosted its holdings in shares of Quanta Services by 10.7% during the 1st quarter. Capital World Investors now owns 6,643,733 shares of the construction company’s stock valued at $1,726,042,000 after buying an additional 643,011 shares in the last quarter. 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.