Quanta Services (NYSE:PWR) Reaches New 1-Year High After Analyst Upgrade

Quanta Services, Inc. (NYSE:PWR) shares hit a new 52-week high on Monday after JPMorgan Chase & Co. upgraded the stock from a neutral rating to an overweight rating. JPMorgan Chase & Co. now has a $515.00 price target on the stock, up from their previous price target of $457.00. Quanta Services traded as high as $472.00 and last traded at $468.57, with a volume of 119124 shares changing hands. The stock had previously closed at $460.64.

Several other research analysts have also commented on PWR. Argus set a $540.00 price target on shares of Quanta Services in a report on Friday, October 31st. Robert W. Baird set a $490.00 price target on Quanta Services in a report on Friday, October 31st. Citigroup boosted their target price on shares of Quanta Services from $517.00 to $526.00 and gave the stock a “buy” rating in a research report on Friday, October 31st. Weiss Ratings reiterated a “buy (b-)” rating on shares of Quanta Services in a report on Monday, December 1st. Finally, Evercore ISI increased their price objective on shares of Quanta Services from $410.00 to $480.00 and gave the stock an “outperform” rating in a research note on Friday, October 31st. Fourteen research analysts have rated the stock with a Buy rating and eleven have given a Hold rating to the stock. Based on data from MarketBeat.com, Quanta Services currently has a consensus rating of “Moderate Buy” and a consensus price target of $449.24.

Insider Transactions at Quanta Services

In other news, Director Bernard Fried sold 4,000 shares of the company’s stock in a transaction on Monday, November 3rd. The stock was sold at an average price of $452.19, for a total value of $1,808,760.00. Following the completion of the sale, the director owned 12,493 shares in the company, valued at $5,649,209.67. This represents a 24.25% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, EVP Donald Wayne sold 14,000 shares of the firm’s stock in a transaction dated Thursday, November 6th. The shares were sold at an average price of $443.81, for a total value of $6,213,340.00. Following the transaction, the executive vice president directly owned 34,575 shares of the company’s stock, valued at $15,344,730.75. This represents a 28.82% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 32,002 shares of company stock worth $14,295,857 over the last 90 days. 1.10% of the stock is currently owned by corporate insiders.

Institutional Trading of Quanta Services

Hedge funds and other institutional investors have recently made changes to their positions in the business. Vanguard Group Inc. boosted its holdings in Quanta Services by 2.2% during the third quarter. Vanguard Group Inc. now owns 18,143,619 shares of the construction company’s stock worth $7,519,079,000 after buying an additional 386,937 shares in the last quarter. JPMorgan Chase & Co. lifted its position in shares of Quanta Services by 0.7% during the 2nd quarter. JPMorgan Chase & Co. now owns 6,821,962 shares of the construction company’s stock valued at $2,579,259,000 after acquiring an additional 49,334 shares during the last quarter. State Street Corp boosted its stake in shares of Quanta Services by 1.2% during the 3rd quarter. State Street Corp now owns 6,080,747 shares of the construction company’s stock worth $2,519,983,000 after acquiring an additional 73,460 shares in the last quarter. Geode Capital Management LLC raised its position in shares of Quanta Services by 4.1% during the second quarter. Geode Capital Management LLC now owns 3,873,293 shares of the construction company’s stock worth $1,458,362,000 after purchasing an additional 152,823 shares during the period. Finally, Bank of America Corp DE lifted its holdings in shares of Quanta Services by 35.6% during the third quarter. Bank of America Corp DE now owns 2,916,540 shares of the construction company’s stock valued at $1,208,672,000 after purchasing an additional 765,822 shares during the last quarter. 90.49% of the stock is currently owned by institutional investors.

Quanta Services Price Performance

The stock has a 50-day moving average of $441.36 and a two-hundred day moving average of $401.56. The firm has a market cap of $68.34 billion, a price-to-earnings ratio of 67.89, a price-to-earnings-growth ratio of 2.63 and a beta of 1.14. The company has a current ratio of 1.34, a quick ratio of 1.30 and a debt-to-equity ratio of 0.66.

Quanta Services (NYSE:PWR) last posted its quarterly earnings data on Thursday, October 30th. The construction company reported $3.33 EPS for the quarter, beating analysts’ consensus estimates of $3.24 by $0.09. Quanta Services had a net margin of 3.74% and a return on equity of 18.74%. The company had revenue of $7.63 billion during the quarter, compared to analyst estimates of $7.41 billion. During the same period in the prior year, the firm earned $2.72 earnings per share. The business’s quarterly revenue was up 17.5% on a year-over-year basis. Quanta Services has set its FY 2025 guidance at 10.330-10.830 EPS. On average, analysts anticipate that Quanta Services, Inc. will post 9.34 EPS for the current year.

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.