Quanta Services (NYSE:PWR) Given New $428.00 Price Target at Sanford C. Bernstein

Quanta Services (NYSE:PWR) had its target price reduced by Sanford C. Bernstein from $432.00 to $428.00 in a research report released on Friday morning, MarketBeat.com reports. They currently have a market perform rating on the construction company’s stock.

PWR has been the subject of a number of other reports. Argus set a $540.00 price target on shares of Quanta Services in a report on Friday, October 31st. Roth Capital set a $500.00 target price on shares of Quanta Services and gave the stock a “buy” rating in a research note on Friday, October 31st. Stifel Nicolaus set a $495.00 price target on Quanta Services in a research note on Monday, November 3rd. Truist Financial lifted their price objective on Quanta Services from $472.00 to $521.00 and gave the company a “buy” rating in a research report on Wednesday, October 8th. Finally, Citigroup upped their target price on Quanta Services from $517.00 to $526.00 and gave the company a “buy” 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 company. According to MarketBeat.com, Quanta Services has an average rating of “Moderate Buy” and an average price target of $450.10.

Quanta Services Stock Performance

Quanta Services stock opened at $426.50 on Friday. Quanta Services has a fifty-two week low of $227.08 and a fifty-two week high of $473.99. The company has a market capitalization of $63.60 billion, a price-to-earnings ratio of 63.19, a PEG ratio of 2.39 and a beta of 1.14. The stock has a fifty day moving average of $443.31 and a two-hundred day moving average of $406.10. The company has a debt-to-equity ratio of 0.66, a quick ratio of 1.30 and a current ratio of 1.34.

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. The business had revenue of $7.63 billion for the quarter, compared to analyst estimates of $7.41 billion. Quanta Services had a return on equity of 18.74% and a net margin of 3.74%.The business’s revenue for the quarter was up 17.5% compared to the same quarter last year. During the same quarter last year, the company earned $2.72 earnings per share. Quanta Services has set its FY 2025 guidance at 10.330-10.830 EPS. On average, analysts anticipate that Quanta Services will post 9.34 EPS for the current fiscal year.

Insider Transactions at Quanta Services

In other Quanta Services news, EVP Donald Wayne sold 14,000 shares of the business’s stock in a transaction dated Thursday, November 6th. The stock was sold at an average price of $443.81, for a total transaction of $6,213,340.00. Following the completion of the sale, the executive vice president owned 34,575 shares of the company’s stock, valued at approximately $15,344,730.75. The trade was a 28.82% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Bernard Fried sold 4,000 shares of the firm’s stock in a transaction dated 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 transaction, the director owned 12,493 shares in the company, valued at approximately $5,649,209.67. This trade represents a 24.25% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 32,002 shares of company stock worth $14,295,857 over the last ninety days. 1.10% of the stock is owned by insiders.

Institutional Investors Weigh In On Quanta Services

Large investors have recently made changes to their positions in the business. Rothschild Investment LLC boosted its position in Quanta Services by 2.8% during the 3rd quarter. Rothschild Investment LLC now owns 850 shares of the construction company’s stock worth $352,000 after purchasing an additional 23 shares during the period. Northwestern Mutual Investment Management Company LLC lifted its stake in shares of Quanta Services by 0.5% during the third quarter. Northwestern Mutual Investment Management Company LLC now owns 4,750 shares of the construction company’s stock worth $1,968,000 after purchasing an additional 23 shares in the last quarter. Wealth Alliance LLC boosted its position in shares of Quanta Services by 1.4% in the third quarter. Wealth Alliance LLC now owns 1,636 shares of the construction company’s stock worth $678,000 after buying an additional 23 shares during the period. Petros Family Wealth LLC grew its stake in shares of Quanta Services by 2.2% in the third quarter. Petros Family Wealth LLC now owns 1,101 shares of the construction company’s stock valued at $456,000 after buying an additional 24 shares in the last quarter. Finally, Montag A & Associates Inc. raised its holdings in shares of Quanta Services by 15.2% during the 3rd quarter. Montag A & Associates Inc. now owns 182 shares of the construction company’s stock valued at $75,000 after buying an additional 24 shares during the period. Institutional investors and hedge funds own 90.49% of the company’s stock.

Quanta Services Company Profile

Quanta Services, Inc is a leading specialty contractor that provides comprehensive infrastructure solutions for the electric power, pipeline and energy, and communications markets. Headquartered in Houston, Texas, the company delivers engineering, procurement, construction, installation, maintenance and repair services that support the development, modernization and ongoing operation of critical energy and communications networks.

In the electric power sector, Quanta works on transmission and distribution systems, substation construction and grid modernization projects that include integration of renewable generation and energy storage.