Quanta Services’ (PWR) “Outperform” Rating Reiterated at Robert W. Baird

Quanta Services (NYSE:PWR)‘s stock had its “outperform” rating restated by research analysts at Robert W. Baird in a research note issued to investors on Thursday, Benzinga reports. They presently have a $219.00 price target on the construction company’s stock. Robert W. Baird’s price target suggests a potential upside of 8.74% from the stock’s current price.

PWR has been the topic of several other research reports. Citigroup boosted their price target on Quanta Services from $192.00 to $234.00 and gave the company a “buy” rating in a research note on Monday, July 24th. UBS Group upped their target price on shares of Quanta Services from $195.00 to $228.00 in a report on Monday, July 10th. StockNews.com started coverage on shares of Quanta Services in a report on Thursday, August 17th. They set a “hold” rating for the company. Credit Suisse Group upped their price objective on shares of Quanta Services from $201.00 to $238.00 and gave the stock an “outperform” rating in a research note on Friday, August 4th. Finally, Argus lifted their target price on shares of Quanta Services from $234.00 to $248.00 and gave the company a “buy” rating in a research note on Wednesday, September 6th. Three research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $205.27.

Quanta Services Stock Up 0.5 %

Shares of NYSE PWR traded up $1.06 during mid-day trading on Thursday, reaching $201.39. 107,821 shares of the company traded hands, compared to its average volume of 818,481. The company has a debt-to-equity ratio of 0.74, a quick ratio of 1.64 and a current ratio of 1.68. The company’s fifty day moving average is $203.03 and its two-hundred day moving average is $182.52. The stock has a market cap of $29.24 billion, a PE ratio of 51.38 and a beta of 1.08. Quanta Services has a fifty-two week low of $123.25 and a fifty-two week high of $212.82.

Quanta Services (NYSE:PWR) last released its earnings results on Thursday, August 3rd. The construction company reported $1.47 earnings per share for the quarter, missing analysts’ consensus estimates of $1.53 by ($0.06). The firm had revenue of $5.05 billion for the quarter, compared to analyst estimates of $4.69 billion. Quanta Services had a return on equity of 15.48% and a net margin of 3.16%. On average, analysts expect that Quanta Services will post 6.47 earnings per share for the current year.

Insider Activity

In related news, EVP Donald Wayne sold 5,000 shares of Quanta Services stock in a transaction dated Friday, September 1st. The stock was sold at an average price of $210.92, for a total value of $1,054,600.00. Following the completion of the sale, the executive vice president now directly owns 41,323 shares in the company, valued at $8,715,847.16. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 1.20% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Quanta Services

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Osaic Holdings Inc. boosted its position in shares of Quanta Services by 2,026.3% in the 2nd quarter. Osaic Holdings Inc. now owns 1,344,871 shares of the construction company’s stock worth $11,136,000 after purchasing an additional 1,281,621 shares during the last quarter. Norges Bank acquired a new position in shares of Quanta Services in the 4th quarter valued at approximately $180,853,000. FMR LLC increased its stake in Quanta Services by 19.7% during the 1st quarter. FMR LLC now owns 4,905,283 shares of the construction company’s stock worth $817,416,000 after purchasing an additional 806,157 shares in the last quarter. Capital World Investors raised its holdings in Quanta Services by 14.8% during the 2nd quarter. Capital World Investors now owns 5,991,012 shares of the construction company’s stock worth $1,176,934,000 after buying an additional 771,861 shares during the period. Finally, Great Lakes Advisors LLC bought a new position in Quanta Services in the first quarter valued at approximately $118,223,000. 87.86% of the stock is owned by institutional investors.

Quanta Services Company Profile

Quanta Services, Inc provides infrastructure solutions for the electric and gas utility, renewable energy, communications, and pipeline and energy industries worldwide. 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.