Stifel Nicolaus Cuts Quanta Services (NYSE:PWR) Price Target to $287.00

Quanta Services (NYSE:PWR) had its target price reduced by Stifel Nicolaus from $323.00 to $287.00 in a research note issued to investors on Wednesday morning,Benzinga reports. They currently have a buy rating on the construction company’s stock.

Several other analysts also recently issued reports on the company. Daiwa Capital Markets downgraded Quanta Services from an “outperform” rating to a “neutral” rating in a research note on Monday, February 24th. Piper Sandler started coverage on Quanta Services in a research note on Tuesday. They issued an “overweight” rating and a $286.00 target price on the stock. Bank of America began coverage on shares of Quanta Services in a research note on Friday, January 24th. They set a “buy” rating and a $407.00 price target for the company. BMO Capital Markets raised shares of Quanta Services from a “market perform” rating to an “outperform” rating and cut their price objective for the stock from $338.00 to $316.00 in a research report on Tuesday, February 25th. Finally, Guggenheim initiated coverage on shares of Quanta Services in a research report on Wednesday, January 8th. They set a “neutral” rating on the stock. Seven investment analysts have rated the stock with a hold rating, fourteen have issued a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat, Quanta Services has a consensus rating of “Moderate Buy” and a consensus price target of $319.25.

Quanta Services Trading Up 2.7 %

NYSE:PWR opened at $269.90 on Wednesday. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.30 and a quick ratio of 1.19. The business’s 50-day simple moving average is $267.21 and its 200-day simple moving average is $302.53. Quanta Services has a fifty-two week low of $227.08 and a fifty-two week high of $365.88. The stock has a market capitalization of $40.00 billion, a PE ratio of 44.76, a price-to-earnings-growth ratio of 1.41 and a beta of 1.04.

Quanta Services (NYSE:PWR) last announced its quarterly earnings results 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 net margin of 3.82% and a return on equity of 18.00%. The firm had revenue of $6.55 billion for the quarter, compared to analyst estimates of $6.61 billion. Sell-side analysts expect that Quanta Services will post 9.34 earnings per share for the current fiscal year.

Quanta Services Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, April 11th. Shareholders of record on Thursday, April 3rd were issued a $0.10 dividend. The ex-dividend date was Thursday, April 3rd. This represents a $0.40 annualized dividend and a dividend yield of 0.15%. Quanta Services’s dividend payout ratio is currently 6.63%.

Institutional Trading of Quanta Services

Hedge funds have recently modified their holdings of the stock. Norges Bank bought a new position in Quanta Services in the 4th quarter valued at about $544,937,000. Capital World Investors grew its position in shares of Quanta Services by 14.1% in the fourth quarter. Capital World Investors now owns 7,223,471 shares of the construction company’s stock valued at $2,282,978,000 after purchasing an additional 891,977 shares during the last quarter. GAMMA Investing LLC increased its stake in shares of Quanta Services by 22,475.0% during the first quarter. GAMMA Investing LLC now owns 815,409 shares of the construction company’s stock worth $207,261,000 after purchasing an additional 811,797 shares during the period. Raymond James Financial Inc. bought a new stake in Quanta Services in the 4th quarter valued at $203,068,000. Finally, Bank of America Corp DE grew its holdings in Quanta Services by 42.8% in the 4th quarter. Bank of America Corp DE now owns 1,691,652 shares of the construction company’s stock valued at $534,647,000 after buying an additional 506,722 shares in the last quarter. Institutional investors and hedge funds 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.