Quanta Services (NYSE:PWR) PT Raised to $335.00 at TD Cowen

Quanta Services (NYSE:PWR) had its target price lifted by TD Cowen from $280.00 to $335.00 in a report issued on Tuesday morning, MarketBeat reports. They currently have a buy rating on the construction company’s stock.

A number of other analysts have also recently commented on PWR. Northland Securities increased their price target on shares of Quanta Services from $264.00 to $280.00 and gave the company an “outperform” rating in a research note on Friday, August 2nd. Robert W. Baird lifted their price target on Quanta Services from $287.00 to $288.00 and gave the stock an “outperform” rating in a report on Friday, July 19th. Stifel Nicolaus upped their price objective on Quanta Services from $283.00 to $342.00 and gave the company a “buy” rating in a research note on Thursday, October 10th. Wolfe Research started coverage on Quanta Services in a research note on Thursday, September 19th. They set an “outperform” rating and a $313.00 target price for the company. Finally, B. Riley raised their price target on Quanta Services from $286.00 to $303.00 and gave the company a “buy” rating in a report on Friday, August 2nd. Four equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $303.86.

Quanta Services Price Performance

Shares of NYSE PWR opened at $314.27 on Tuesday. Quanta Services has a fifty-two week low of $153.74 and a fifty-two week high of $316.28. The stock has a market capitalization of $46.30 billion, a price-to-earnings ratio of 59.05 and a beta of 1.01. The company has a debt-to-equity ratio of 0.45, a current ratio of 1.30 and a quick ratio of 1.25. The business has a 50-day moving average of $280.62 and a 200-day moving average of $268.66.

Quanta Services (NYSE:PWR) last posted its quarterly earnings results on Thursday, August 1st. The construction company reported $1.90 earnings per share for the quarter, beating analysts’ consensus estimates of $1.75 by $0.15. The firm had revenue of $5.59 billion during the quarter, compared to the consensus estimate of $5.51 billion. Quanta Services had a return on equity of 16.29% and a net margin of 3.59%. The business’s revenue was up 10.8% compared to the same quarter last year. During the same period last year, the company earned $1.47 earnings per share. As a group, sell-side analysts predict that Quanta Services will post 7.83 earnings per share for the current fiscal year.

Quanta Services Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, October 11th. Investors of record on Tuesday, October 1st were given a dividend of $0.09 per share. The ex-dividend date was Tuesday, October 1st. This represents a $0.36 annualized dividend and a dividend yield of 0.11%. Quanta Services’s dividend payout ratio is 6.79%.

Insider Activity at Quanta Services

In other Quanta Services news, CEO Earl C. Jr. Austin sold 130,000 shares of the company’s stock in a transaction on Wednesday, August 14th. The stock was sold at an average price of $262.21, for a total transaction of $34,087,300.00. Following the completion of the sale, the chief executive officer now directly owns 593,402 shares in the company, valued at $155,595,938.42. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In related news, insider Karl W. Studer sold 23,357 shares of Quanta Services stock in a transaction that occurred on Wednesday, August 21st. The shares were sold at an average price of $270.51, for a total transaction of $6,318,302.07. Following the sale, the insider now directly owns 10,631 shares of the company’s stock, valued at approximately $2,875,791.81. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Earl C. Jr. Austin sold 130,000 shares of the stock in a transaction that occurred on Wednesday, August 14th. The shares were sold at an average price of $262.21, for a total transaction of $34,087,300.00. Following the completion of the transaction, the chief executive officer now directly owns 593,402 shares of the company’s stock, valued at approximately $155,595,938.42. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 202,357 shares of company stock valued at $53,115,572 over the last three months. 1.10% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the company. Electron Capital Partners LLC raised its holdings in Quanta Services by 395.1% in the 2nd quarter. Electron Capital Partners LLC now owns 2,622,142 shares of the construction company’s stock valued at $666,260,000 after buying an additional 2,092,519 shares during the last quarter. Swedbank AB bought a new position in shares of Quanta Services during the first quarter valued at $227,218,000. Capital World Investors lifted its holdings in shares of Quanta Services by 10.7% during the first quarter. Capital World Investors now owns 6,643,733 shares of the construction company’s stock worth $1,726,042,000 after purchasing an additional 643,011 shares during the period. American Century Companies Inc. grew its stake in shares of Quanta Services by 1,445.3% in the second quarter. American Century Companies Inc. now owns 395,152 shares of the construction company’s stock worth $100,404,000 after purchasing an additional 369,581 shares during the last quarter. Finally, Massachusetts Financial Services Co. MA increased its holdings in Quanta Services by 17.8% in the second quarter. Massachusetts Financial Services Co. MA now owns 1,235,655 shares of the construction company’s stock valued at $313,968,000 after purchasing an additional 186,306 shares during the period. 90.49% of the stock is currently 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 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.