Quanta Services (NYSE:PWR) Coverage Initiated at StockNews.com

StockNews.com initiated coverage on shares of Quanta Services (NYSE:PWR – Get Rating) in a research report report published on Thursday. The brokerage issued a hold rating on the construction company’s stock.

A number of other equities analysts have also commented on PWR. Robert W. Baird increased their price target on shares of Quanta Services from $157.00 to $173.00 and gave the stock an outperform rating in a report on Friday, February 24th. Cowen upped their price objective on shares of Quanta Services from $155.00 to $165.00 and gave the company an outperform rating in a research note on Tuesday, December 27th. Cowen upped their price objective on shares of Quanta Services from $155.00 to $165.00 in a research note on Tuesday, December 27th. Citigroup upped their price objective on shares of Quanta Services from $161.00 to $175.00 and gave the company a buy rating in a research note on Friday, December 9th. Finally, Argus upped their price objective on shares of Quanta Services from $168.00 to $189.00 and gave the company a buy rating in a research note on Friday, February 24th. Two equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of Moderate Buy and an average price target of $166.25.

Quanta Services Price Performance

Shares of NYSE:PWR opened at $155.10 on Thursday. The company’s fifty day moving average price is $153.21 and its 200-day moving average price is $145.14. The firm has a market capitalization of $22.33 billion, a price-to-earnings ratio of 46.72 and a beta of 1.08. Quanta Services has a one year low of $106.33 and a one year high of $168.75. The company has a debt-to-equity ratio of 0.68, a current ratio of 1.63 and a quick ratio of 1.59.

Insider Buying and Selling at Quanta Services

In other Quanta Services news, EVP Donald Wayne sold 23,214 shares of the stock in a transaction on Monday, March 6th. The shares were sold at an average price of $163.68, for a total transaction of $3,799,667.52. Following the completion of the sale, the executive vice president now owns 50,367 shares of the company’s stock, valued at approximately $8,244,070.56. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 1.30% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the stock. Franklin Resources Inc. raised its holdings in Quanta Services by 52.9% in the 2nd quarter. Franklin Resources Inc. now owns 900,611 shares of the construction company’s stock worth $112,884,000 after purchasing an additional 311,496 shares in the last quarter. Stephens Inc. AR raised its holdings in Quanta Services by 7.0% in the 3rd quarter. Stephens Inc. AR now owns 3,755 shares of the construction company’s stock worth $478,000 after purchasing an additional 246 shares in the last quarter. Greenleaf Trust raised its holdings in Quanta Services by 1.9% in the 3rd quarter. Greenleaf Trust now owns 5,547 shares of the construction company’s stock worth $707,000 after purchasing an additional 106 shares in the last quarter. Korea Investment CORP bought a new position in Quanta Services in the 2nd quarter worth $5,766,000. Finally, Advisors Asset Management Inc. raised its holdings in Quanta Services by 13.3% in the 3rd quarter. Advisors Asset Management Inc. now owns 63,536 shares of the construction company’s stock worth $8,094,000 after purchasing an additional 7,458 shares in the last quarter. 89.29% of the stock is currently owned by institutional investors.

About Quanta Services

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Quanta Services, Inc engages in the provision of comprehensive infrastructure solutions to the electric power, oil and gas, and communication industries. It operates through the following segments: Electric Power Infrastructure Solutions, Renewable Energy Infrastructure Solutions, and Underground Utility and Infrastructure Solutions.