Quanta Services, Inc. (NYSE:PWR) Receives $308.07 Average Price Target from Analysts

Shares of Quanta Services, Inc. (NYSE:PWR) have received a consensus rating of “Moderate Buy” from the sixteen ratings firms that are covering the stock, MarketBeat reports. Four research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. The average 12-month price objective among brokerages that have updated their coverage on the stock in the last year is $314.27.

PWR has been the topic of a number of research analyst reports. TD Cowen raised their target price on Quanta Services from $280.00 to $335.00 and gave the company a “buy” rating in a report on Tuesday, October 15th. UBS Group upped their target price on shares of Quanta Services from $313.00 to $367.00 and gave the company a “buy” rating in a research note on Wednesday, October 23rd. Wolfe Research initiated coverage on shares of Quanta Services in a report on Thursday, September 19th. They set an “outperform” rating and a $313.00 price objective on the stock. Northland Securities reiterated an “outperform” rating and issued a $328.00 target price (up previously from $280.00) on shares of Quanta Services in a research note on Friday. Finally, JPMorgan Chase & Co. began coverage on Quanta Services in a research note on Monday, October 7th. They set a “neutral” rating and a $297.00 price target on the stock.

Quanta Services Stock Up 0.6 %

PWR opened at $303.50 on Thursday. Quanta Services has a twelve month low of $163.93 and a twelve month high of $317.91. The company has a debt-to-equity ratio of 0.58, a quick ratio of 1.25 and a current ratio of 1.23. The business has a 50 day moving average price of $290.40 and a 200 day moving average price of $272.68. The firm has a market cap of $44.71 billion, a P/E ratio of 56.00 and a beta of 1.01.

Quanta Services (NYSE:PWR) last announced its earnings results on Thursday, October 31st. The construction company reported $2.72 EPS for the quarter, topping the consensus estimate of $2.46 by $0.26. The firm had revenue of $6.49 billion for the quarter, compared to the consensus estimate of $6.56 billion. Quanta Services had a net margin of 3.54% and a return on equity of 16.71%. The business’s quarterly revenue was up 15.5% on a year-over-year basis. During the same quarter last year, the firm posted $2.08 EPS. Research analysts forecast that Quanta Services will post 7.82 EPS for the current year.

Quanta Services Dividend Announcement

The company also recently announced 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. This represents a $0.36 dividend on an annualized basis and a dividend yield of 0.12%. The ex-dividend date of this dividend was Tuesday, October 1st. Quanta Services’s dividend payout ratio (DPR) is currently 6.64%.

Insider Buying and Selling at Quanta Services

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

Institutional Trading of Quanta Services

Hedge funds and other institutional investors have recently modified their holdings of the stock. Allen Investment Management LLC raised its position in shares of Quanta Services by 1,418.0% during the first quarter. Allen Investment Management LLC now owns 33,396 shares of the construction company’s stock worth $8,676,000 after acquiring an additional 31,196 shares during the last quarter. Vanguard Group Inc. grew its position in shares of Quanta Services by 0.6% during the 1st quarter. Vanguard Group Inc. now owns 16,341,230 shares of the construction company’s stock worth $4,245,452,000 after buying an additional 105,355 shares during the period. Wealth Enhancement Advisory Services LLC raised its stake in shares of Quanta Services by 5.7% during the second quarter. Wealth Enhancement Advisory Services LLC now owns 36,862 shares of the construction company’s stock worth $9,366,000 after buying an additional 1,981 shares during the last quarter. Cetera Investment Advisers lifted its holdings in Quanta Services by 115.0% in the first quarter. Cetera Investment Advisers now owns 39,274 shares of the construction company’s stock valued at $10,203,000 after buying an additional 21,003 shares during the period. Finally, Czech National Bank boosted its stake in Quanta Services by 8.9% in the second quarter. Czech National Bank now owns 27,827 shares of the construction company’s stock valued at $7,071,000 after acquiring an additional 2,264 shares during the last quarter. 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.