Stifel Nicolaus Boosts Quanta Services (NYSE:PWR) Price Target to $517.00

Quanta Services (NYSE:PWR) had its price objective hoisted by stock analysts at Stifel Nicolaus from $495.00 to $517.00 in a report released on Monday, Marketbeat Ratings reports. The firm presently has a “buy” rating on the construction company’s stock. Stifel Nicolaus’ price target points to a potential upside of 7.87% from the company’s current price.

A number of other equities analysts also recently weighed in on PWR. Evercore ISI upped their price target 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. JPMorgan Chase & Co. upgraded shares of Quanta Services from a “neutral” rating to an “overweight” rating and lifted their target price for the stock from $457.00 to $515.00 in a report on Monday, December 8th. Citigroup increased their price objective on Quanta Services from $526.00 to $540.00 and gave the company a “buy” rating in a research report on Monday. Truist Financial lifted their target price on Quanta Services from $472.00 to $521.00 and gave the stock a “buy” rating in a research report on Wednesday, October 8th. Finally, Mizuho set a $415.00 price objective on shares of Quanta Services in a research note on Tuesday, October 28th. Thirteen analysts have rated the stock with a Buy rating and seven have given a Hold rating to the company. According to data from MarketBeat, Quanta Services has a consensus rating of “Moderate Buy” and a consensus target price of $462.00.

Quanta Services Price Performance

NYSE PWR opened at $479.27 on Monday. The company has a 50-day moving average price of $445.49 and a two-hundred day moving average price of $420.84. The company has a current ratio of 1.34, a quick ratio of 1.30 and a debt-to-equity ratio of 0.66. The stock has a market cap of $71.47 billion, a price-to-earnings ratio of 71.00, a price-to-earnings-growth ratio of 2.28 and a beta of 1.16. Quanta Services has a 52 week low of $227.08 and a 52 week high of $483.75.

Quanta Services (NYSE:PWR) last released its earnings results on Thursday, October 30th. The construction company reported $3.33 EPS for the quarter, beating the consensus estimate of $3.24 by $0.09. The firm had revenue of $7.63 billion for the quarter, compared to analysts’ expectations of $7.41 billion. Quanta Services had a net margin of 3.74% and a return on equity of 18.74%. Quanta Services’s quarterly revenue was up 17.5% on a year-over-year basis. During the same quarter last year, the company earned $2.72 EPS. Quanta Services has set its FY 2025 guidance at 10.330-10.830 EPS. Analysts forecast that Quanta Services will post 9.34 EPS for the current year.

Insider Transactions at Quanta Services

In other news, EVP Donald Wayne sold 14,000 shares of the stock in a transaction dated Thursday, November 6th. The shares were sold at an average price of $443.81, for a total transaction of $6,213,340.00. Following the completion of the transaction, the executive vice president directly owned 34,575 shares in the company, valued at $15,344,730.75. This represents a 28.82% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Gerald A. Ducey, Jr. sold 7,653 shares of the business’s stock in a transaction dated Thursday, November 6th. The stock was sold at an average price of $446.08, for a total transaction of $3,413,850.24. Following the transaction, the insider owned 19,960 shares in the company, valued at $8,903,756.80. This represents a 27.72% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders sold 32,002 shares of company stock worth $14,295,857. Insiders own 1.10% of the company’s stock.

Institutional Trading of Quanta Services

Institutional investors have recently modified their holdings of the stock. Freedom Day Solutions LLC bought a new position in shares of Quanta Services in the second quarter worth $2,465,000. Mediolanum International Funds Ltd increased its position in shares of Quanta Services by 15.5% during the 2nd quarter. Mediolanum International Funds Ltd now owns 33,158 shares of the construction company’s stock valued at $12,642,000 after purchasing an additional 4,451 shares during the last quarter. Calamos Advisors LLC grew its position in Quanta Services by 17.1% during the third quarter. Calamos Advisors LLC now owns 105,401 shares of the construction company’s stock valued at $43,680,000 after acquiring an additional 15,388 shares during the last quarter. Exchange Traded Concepts LLC raised its position in Quanta Services by 59.9% in the 3rd quarter. Exchange Traded Concepts LLC now owns 44,392 shares of the construction company’s stock worth $18,397,000 after purchasing an additional 16,637 shares during the period. Finally, Choreo LLC increased its holdings in shares of Quanta Services by 4.1% in the second quarter. Choreo LLC now owns 7,734 shares of the construction company’s stock worth $2,924,000 after buying an additional 303 shares during the period. 90.49% of the stock is currently owned by institutional investors.

About Quanta Services

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.