Quanta Services (NYSE:PWR) Price Target Raised to $333.00

Quanta Services (NYSE:PWR) had its price objective increased by Robert W. Baird from $320.00 to $333.00 in a report issued on Friday, Benzinga reports. The firm currently has an outperform rating on the construction company’s stock.

A number of other research firms have also issued reports on PWR. Truist Financial raised their price target on shares of Quanta Services from $319.00 to $358.00 and gave the stock a “buy” rating in a research report on Wednesday, October 9th. UBS Group boosted their target price on shares of Quanta Services from $313.00 to $367.00 and gave the company a “buy” rating in a research report on Wednesday, October 23rd. Northland Securities increased their price target on Quanta Services from $264.00 to $280.00 and gave the stock an “outperform” rating in a research report on Friday, August 2nd. Stifel Nicolaus lifted 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. Finally, Citigroup upped their target price on Quanta Services from $302.00 to $348.00 and gave the stock a “buy” rating in a research note on Friday, October 4th. Four analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. According to data from MarketBeat, Quanta Services presently has an average rating of “Moderate Buy” and a consensus target price of $314.27.

Quanta Services Trading Up 0.3 %

NYSE:PWR opened at $304.32 on Friday. The company has a current ratio of 1.23, a quick ratio of 1.25 and a debt-to-equity ratio of 0.58. The firm has a fifty day simple moving average of $290.40 and a 200-day simple moving average of $273.04. Quanta Services has a 12 month low of $163.93 and a 12 month high of $317.91. The company has a market capitalization of $44.84 billion, a P/E ratio of 56.09 and a beta of 1.01.

Quanta Services (NYSE:PWR) last posted its quarterly earnings results on Thursday, October 31st. The construction company reported $2.72 earnings per share for the quarter, beating the consensus estimate of $2.46 by $0.26. Quanta Services had a return on equity of 16.71% and a net margin of 3.54%. The business had revenue of $6.49 billion for the quarter, compared to the consensus estimate of $6.56 billion. During the same quarter in the previous year, the business earned $2.08 EPS. The company’s quarterly revenue was up 15.5% compared to the same quarter last year. On average, equities research analysts anticipate that Quanta Services will post 7.82 earnings per share for the current year.

Quanta Services Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, October 11th. Stockholders of record on Tuesday, October 1st were paid a dividend of $0.09 per share. This represents a $0.36 annualized dividend and a dividend yield of 0.12%. The ex-dividend date of this dividend was Tuesday, October 1st. Quanta Services’s payout ratio is 6.64%.

Insider Activity

In other Quanta Services news, insider Gerald A. Ducey, Jr. sold 15,000 shares of the company’s stock in a transaction on Friday, August 9th. The shares were sold at an average price of $257.93, for a total transaction of $3,868,950.00. Following the completion of the transaction, the insider now directly owns 21,286 shares in the company, valued at approximately $5,490,297.98. This represents 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 hyperlink. In other Quanta Services news, insider Gerald A. Ducey, Jr. sold 15,000 shares of the business’s stock in a transaction that occurred on Friday, August 9th. The stock was sold at an average price of $257.93, for a total transaction of $3,868,950.00. Following the completion of the sale, the insider now directly owns 21,286 shares in the company, valued at approximately $5,490,297.98. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Karl W. Studer sold 23,357 shares of the firm’s 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. This trade represents 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 worth $53,115,572 in the last quarter. Corporate insiders own 1.10% of the company’s stock.

Institutional Investors Weigh In On Quanta Services

Large investors have recently modified their holdings of the business. EntryPoint Capital LLC acquired a new position in Quanta Services during the first quarter worth about $25,000. Salomon & Ludwin LLC acquired a new position in shares of Quanta Services during the 1st quarter worth approximately $26,000. Cambridge Trust Co. purchased a new stake in shares of Quanta Services in the first quarter valued at approximately $26,000. Valley Wealth Managers Inc. acquired a new stake in shares of Quanta Services in the second quarter valued at approximately $33,000. Finally, Quest Partners LLC purchased a new position in Quanta Services during the second quarter worth approximately $35,000. Hedge funds and other institutional investors own 90.49% of the company’s stock.

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.