Citigroup Boosts Quanta Services (NYSE:PWR) Price Target to $526.00

Quanta Services (NYSE:PWR) had its target price boosted by equities research analysts at Citigroup from $517.00 to $526.00 in a research report issued on Friday,Benzinga reports. The brokerage presently has a “buy” rating on the construction company’s stock. Citigroup’s target price would indicate a potential upside of 16.85% from the company’s previous close.

Several other research analysts also recently commented on the company. Seaport Res Ptn raised Quanta Services to a “hold” rating in a research note on Thursday, July 10th. BMO Capital Markets downgraded shares of Quanta Services from an “outperform” rating to a “market perform” rating and increased their price objective for the company from $352.00 to $400.00 in a research note on Thursday, July 17th. Wall Street Zen lowered shares of Quanta Services from a “buy” rating to a “hold” rating in a research report on Saturday, August 30th. DA Davidson upped their price target on shares of Quanta Services from $305.00 to $395.00 and gave the stock a “neutral” rating in a report on Friday, August 1st. Finally, Argus set a $540.00 price objective on Quanta Services in a report on Friday. Thirteen equities research analysts have rated the stock with a Buy rating and twelve have assigned a Hold rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $435.55.

Quanta Services Stock Down 0.8%

Shares of PWR opened at $450.16 on Friday. The firm has a 50 day simple moving average of $408.11 and a two-hundred day simple moving average of $375.05. The company has a debt-to-equity ratio of 0.59, a current ratio of 1.37 and a quick ratio of 1.32. Quanta Services has a one year low of $227.08 and a one year high of $469.43. The company has a market cap of $67.08 billion, a P/E ratio of 69.68, a P/E/G ratio of 2.66 and a beta of 1.04.

Quanta Services (NYSE:PWR) last issued its earnings results on Thursday, October 30th. The construction company reported $3.33 earnings per share for the quarter, beating analysts’ consensus estimates of $3.24 by $0.09. Quanta Services had a return on equity of 18.41% and a net margin of 3.73%.The firm had revenue of $7.63 billion for the quarter, compared to the consensus estimate of $7.41 billion. During the same quarter last year, the business posted $2.72 EPS. The company’s revenue was up 17.5% compared to the same quarter last year. Quanta Services has set its FY 2025 guidance at 10.330-10.830 EPS. Research analysts forecast that Quanta Services will post 9.34 EPS for the current fiscal year.

Institutional Investors Weigh In On Quanta Services

Several institutional investors and hedge funds have recently made changes to their positions in PWR. Copia Wealth Management lifted its stake in shares of Quanta Services by 509.1% in the second quarter. Copia Wealth Management now owns 67 shares of the construction company’s stock worth $25,000 after acquiring an additional 56 shares during the period. Darwin Wealth Management LLC bought a new position in Quanta Services during the 2nd quarter worth approximately $26,000. SOA Wealth Advisors LLC. boosted its stake in shares of Quanta Services by 159.3% in the 2nd quarter. SOA Wealth Advisors LLC. now owns 70 shares of the construction company’s stock valued at $26,000 after purchasing an additional 43 shares during the last quarter. Solstein Capital LLC increased its position in shares of Quanta Services by 185.7% during the second quarter. Solstein Capital LLC now owns 80 shares of the construction company’s stock worth $30,000 after buying an additional 52 shares during the period. Finally, Ameriflex Group Inc. increased its position in shares of Quanta Services by 93.0% during the second quarter. Ameriflex Group Inc. now owns 83 shares of the construction company’s stock worth $32,000 after buying an additional 40 shares during the period. Institutional investors and hedge funds own 90.49% of the company’s stock.

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.