Quanta Services (NYSE:PWR) PT Raised to $285.00

Quanta Services (NYSE:PWR) had its target price lifted by Citigroup from $275.00 to $285.00 in a report released on Monday morning, Benzinga reports. Citigroup currently has a buy rating on the construction company’s stock.

Several other brokerages also recently weighed in on PWR. Truist Financial began coverage on shares of Quanta Services in a research report on Thursday, March 14th. They set a buy rating and a $301.00 price target for the company. DA Davidson upped their price target on Quanta Services from $190.00 to $225.00 and gave the company a neutral rating in a report on Wednesday, February 28th. Stifel Nicolaus lifted their price objective on Quanta Services from $237.00 to $252.00 and gave the stock a buy rating in a report on Friday, February 23rd. Evercore ISI initiated coverage on shares of Quanta Services in a research note on Tuesday, February 13th. They set an outperform rating and a $237.00 target price on the stock. Finally, KeyCorp assumed coverage on shares of Quanta Services in a research note on Wednesday, January 10th. They issued a sector weight rating for the company. Three research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of Moderate Buy and an average price target of $243.23.

Quanta Services Stock Up 0.9 %

PWR stock opened at $245.54 on Monday. The company has a debt-to-equity ratio of 0.58, a quick ratio of 1.44 and a current ratio of 1.47. The company has a market capitalization of $35.94 billion, a price-to-earnings ratio of 49.01 and a beta of 1.11. The business’s 50 day moving average price is $243.37 and its two-hundred day moving average price is $209.86. Quanta Services has a fifty-two week low of $153.74 and a fifty-two week high of $265.82.

Quanta Services (NYSE:PWR) last posted its quarterly earnings data on Thursday, February 22nd. The construction company reported $2.04 earnings per share for the quarter, beating analysts’ consensus estimates of $1.83 by $0.21. The company had revenue of $5.78 billion during the quarter, compared to analyst estimates of $5.19 billion. Quanta Services had a return on equity of 16.46% and a net margin of 3.57%. The firm’s revenue for the quarter was up 31.0% on a year-over-year basis. During the same quarter last year, the company earned $1.54 EPS. As a group, analysts forecast that Quanta Services will post 7.63 earnings per share for the current fiscal year.

Quanta Services Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, April 17th. Shareholders of record on Tuesday, April 9th were paid a $0.09 dividend. The ex-dividend date was Monday, April 8th. This represents a $0.36 dividend on an annualized basis and a yield of 0.15%. Quanta Services’s payout ratio is presently 7.19%.

Insider Activity

In related news, Director Worthing Jackman sold 9,572 shares of Quanta Services stock in a transaction that occurred on Wednesday, February 28th. The stock was sold at an average price of $237.31, for a total transaction of $2,271,531.32. Following the sale, the director now owns 7,486 shares of the company’s stock, valued at approximately $1,776,502.66. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, EVP Derrick A. Jensen sold 18,500 shares of the firm’s stock in a transaction on Tuesday, February 27th. The shares were sold at an average price of $236.90, for a total transaction of $4,382,650.00. Following the completion of the transaction, the executive vice president now directly owns 263,725 shares of the company’s stock, valued at $62,476,452.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Worthing Jackman sold 9,572 shares of the business’s stock in a transaction on Wednesday, February 28th. The stock was sold at an average price of $237.31, for a total transaction of $2,271,531.32. Following the completion of the sale, the director now owns 7,486 shares in the company, valued at approximately $1,776,502.66. The disclosure for this sale can be found here. Insiders have sold 47,125 shares of company stock worth $11,270,215 over the last ninety days. Corporate insiders own 1.10% of the company’s stock.

Institutional Investors Weigh In On Quanta Services

Several large investors have recently made changes to their positions in the company. Paradiem LLC increased its stake in Quanta Services by 0.5% in the 1st quarter. Paradiem LLC now owns 16,420 shares of the construction company’s stock worth $4,266,000 after acquiring an additional 77 shares during the last quarter. PFG Investments LLC purchased a new position in shares of Quanta Services in the first quarter valued at $293,000. Raymond James & Associates raised its stake in Quanta Services by 1.8% during the first quarter. Raymond James & Associates now owns 190,790 shares of the construction company’s stock valued at $49,567,000 after purchasing an additional 3,407 shares in the last quarter. Essex Private Wealth Management LLC purchased a new position in shares of Quanta Services in the 1st quarter worth $209,000. Finally, Maryland State Retirement & Pension System grew its position in Quanta Services by 2.8% in the first quarter. Maryland State Retirement & Pension System now owns 11,280 shares of the construction company’s stock worth $2,746,000 after acquiring an additional 305 shares in the last quarter. 90.49% of the stock is owned by institutional investors.

About Quanta Services

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.