Quanta Services (NYSE:PWR) Price Target Raised to $342.00 at Stifel Nicolaus

Quanta Services (NYSE:PWR) had its target price lifted by analysts at Stifel Nicolaus from $283.00 to $342.00 in a research report issued to clients and investors on Thursday, Benzinga reports. The brokerage presently has a “buy” rating on the construction company’s stock. Stifel Nicolaus’ price objective indicates a potential upside of 12.23% from the stock’s current price.

Several other research firms also recently commented on PWR. Wolfe Research assumed coverage on shares of Quanta Services in a research note on Thursday, September 19th. They issued an “outperform” rating and a $313.00 price target for the company. Citigroup boosted their price target on shares of Quanta Services from $302.00 to $348.00 and gave the stock a “buy” rating in a research note on Friday, October 4th. Northland Securities boosted their target price on shares of Quanta Services from $264.00 to $280.00 and gave the stock an “outperform” rating in a research note on Friday, August 2nd. JPMorgan Chase & Co. began coverage on shares of Quanta Services in a research note on Monday. They set a “neutral” rating and a $297.00 target price for the company. Finally, Truist Financial boosted their target price on shares of Quanta Services from $319.00 to $358.00 and gave the stock a “buy” rating in a research note on Wednesday. Four equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. According to data from MarketBeat, Quanta Services presently has a consensus rating of “Moderate Buy” and an average price target of $299.93.

Quanta Services Trading Down 0.9 %

Quanta Services stock traded down $2.87 during trading on Thursday, hitting $304.74. The company had a trading volume of 136,579 shares, compared to its average volume of 903,250. The company’s 50 day simple moving average is $273.36 and its 200-day simple moving average is $266.60. The stock has a market cap of $44.61 billion, a price-to-earnings ratio of 59.06 and a beta of 1.01. The company has a current ratio of 1.30, a quick ratio of 1.25 and a debt-to-equity ratio of 0.45. Quanta Services has a 1-year low of $153.74 and a 1-year high of $312.52.

Quanta Services (NYSE:PWR) last posted its quarterly earnings results on Thursday, August 1st. The construction company reported $1.90 EPS for the quarter, topping the consensus estimate of $1.75 by $0.15. The business had revenue of $5.59 billion during the quarter, compared to the consensus estimate of $5.51 billion. Quanta Services had a net margin of 3.59% and a return on equity of 16.29%. The company’s quarterly revenue was up 10.8% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.47 earnings per share. As a group, analysts expect that Quanta Services will post 7.82 EPS for the current fiscal year.

Insider Activity at Quanta Services

In related news, CEO Earl C. Jr. Austin sold 130,000 shares of the business’s stock in a transaction on 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 directly owns 593,402 shares of the company’s stock, valued at $155,595,938.42. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, CEO Earl C. Jr. Austin sold 130,000 shares of the company’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 directly owns 593,402 shares of the company’s stock, valued at approximately $155,595,938.42. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Gerald A. Ducey, Jr. sold 15,000 shares of the company’s stock in a transaction dated 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 sale, the insider now directly owns 21,286 shares of the company’s stock, valued at $5,490,297.98. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 202,357 shares of company stock valued at $53,115,572 over the last ninety days. Insiders own 1.10% of the company’s stock.

Institutional Investors Weigh In On Quanta Services

Institutional investors and hedge funds have recently made changes to their positions in the business. EntryPoint Capital LLC purchased a new stake in shares of Quanta Services in the first quarter valued at about $25,000. Private Ocean LLC acquired a new position in shares of Quanta Services during the first quarter worth about $26,000. Salomon & Ludwin LLC acquired a new position in shares of Quanta Services during the first quarter worth about $26,000. Cambridge Trust Co. acquired a new position in shares of Quanta Services during the first quarter worth about $26,000. Finally, Valley Wealth Managers Inc. acquired a new position in shares of Quanta Services during the second quarter worth about $33,000. 90.49% of the stock is owned by hedge funds and other 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.