Other equities research analysts have also issued research reports about the stock. Credit Suisse Group AG restated a buy rating and issued a $26.00 price target on shares of Quanta Services in a report on Monday, August 8th. Deutsche Bank AG restated a buy rating on shares of Quanta Services in a report on Saturday, August 6th. Zacks Investment Research lowered shares of Quanta Services from a hold rating to a sell rating in a report on Tuesday, July 12th. Finally, Citigroup Inc. reduced their price target on shares of Quanta Services from $27.00 to $26.00 and set a neutral rating for the company in a report on Friday, August 5th. Five investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. The stock currently has an average rating of Buy and a consensus target price of $26.65.
Shares of Quanta Services (NYSE:PWR) opened at 26.88 on Friday. The stock has a market cap of $4.06 billion, a PE ratio of 18.16 and a beta of 0.67. The firm has a 50-day moving average of $25.66 and a 200-day moving average of $24.04. Quanta Services has a one year low of $16.77 and a one year high of $27.05.
Quanta Services (NYSE:PWR) last announced its quarterly earnings data on Thursday, August 4th. The company reported $0.18 earnings per share for the quarter, missing analysts’ consensus estimates of $0.36 by $0.18. Quanta Services had a net margin of 3.38% and a return on equity of 4.68%. The company had revenue of $1.15 billion for the quarter, compared to the consensus estimate of $1.86 billion. During the same quarter in the previous year, the business earned $0.24 EPS. The company’s quarterly revenue was down 4.4% compared to the same quarter last year. On average, equities research analysts expect that Quanta Services will post $1.55 earnings per share for the current fiscal year.
In other Quanta Services news, EVP Randall C. Wisenbaker sold 5,121 shares of the business’s stock in a transaction that occurred on Wednesday, August 24th. The shares were sold at an average price of $26.36, for a total transaction of $134,989.56. Following the sale, the executive vice president now owns 40,193 shares of the company’s stock, valued at approximately $1,059,487.48. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Company insiders own 0.70% of the company’s stock.
A number of hedge funds have recently added to or reduced their stakes in the company. Kentucky Retirement Systems bought a new stake in Quanta Services during the second quarter valued at $297,000. Nomura Holdings Inc. increased its stake in Quanta Services by 69.0% in the second quarter. Nomura Holdings Inc. now owns 21,700 shares of the company’s stock valued at $501,000 after buying an additional 8,862 shares during the period. Mason Street Advisors LLC acquired a new stake in Quanta Services during the second quarter valued at approximately $470,000. Northwestern Mutual Wealth Management Co. increased its stake in Quanta Services by 86.4% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 4,514 shares of the company’s stock valued at $105,000 after buying an additional 2,092 shares during the period. Finally, Wolverine Asset Management LLC acquired a new stake in Quanta Services during the second quarter valued at approximately $1,156,000. 87.80% of the stock is currently owned by institutional investors.
Quanta Services Company Profile
Quanta Services, Inc is a provider of specialty contracting services, offering infrastructure solutions primarily to the electric power and oil and gas industries in the United States, Canada and Australia and selected other international markets. The Company operates through two segments: Electric Power Infrastructure Services, which provides network solutions to customers in the electric power industry, and Oil and Gas Infrastructure Services, which provides network solutions to customers involved in the development and transportation of natural gas, oil and other pipeline products.
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