Quanta Services (NYSE:PWR) Given New $145.00 Price Target at Cowen

Quanta Services (NYSE:PWRGet Rating) had its target price upped by Cowen from $130.00 to $145.00 in a research note issued on Thursday, Stock Target Advisor reports. The firm presently has an “outperform” rating on the construction company’s stock. Cowen’s price target suggests a potential upside of 18.72% from the stock’s previous close.

PWR has been the subject of several other research reports. B. Riley upped their target price on shares of Quanta Services from $129.00 to $138.00 in a report on Friday, May 6th. Piper Sandler upped their target price on shares of Quanta Services from $144.00 to $150.00 and gave the stock an “overweight” rating in a report on Wednesday, April 6th. StockNews.com began coverage on shares of Quanta Services in a report on Thursday, March 31st. They set a “hold” rating for the company. KeyCorp increased their price objective on shares of Quanta Services from $129.00 to $156.00 in a report on Thursday, April 14th. Finally, Cowen increased their price objective on shares of Quanta Services from $130.00 to $145.00 in a report on Thursday. Four equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Buy” and an average price target of $138.50.

Quanta Services stock traded up $3.78 during mid-day trading on Thursday, hitting $122.14. The stock had a trading volume of 24,311 shares, compared to its average volume of 1,435,021. The firm has a market capitalization of $17.55 billion, a P/E ratio of 37.04 and a beta of 1.19. The company has a current ratio of 1.51, a quick ratio of 1.48 and a debt-to-equity ratio of 0.74. The firm’s 50 day moving average is $124.24 and its 200 day moving average is $115.33. Quanta Services has a one year low of $84.40 and a one year high of $140.04.

Quanta Services (NYSE:PWRGet Rating) last issued its earnings results on Thursday, May 5th. The construction company reported $1.26 earnings per share for the quarter, topping the consensus estimate of $1.09 by $0.17. The company had revenue of $3.97 billion during the quarter, compared to the consensus estimate of $3.60 billion. Quanta Services had a net margin of 3.38% and a return on equity of 14.98%. Quanta Services’s quarterly revenue was up 46.7% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.73 EPS. As a group, equities research analysts forecast that Quanta Services will post 5.81 earnings per share for the current year.

In related news, Director Bernard Fried sold 3,000 shares of the stock in a transaction dated Thursday, March 3rd. The shares were sold at an average price of $112.61, for a total value of $337,830.00. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, EVP Donald Wayne sold 1,622 shares of the stock in a transaction dated Tuesday, March 1st. The stock was sold at an average price of $109.52, for a total transaction of $177,641.44. The disclosure for this sale can be found here. Insiders have sold a total of 21,034 shares of company stock worth $2,378,756 over the last 90 days. Corporate insiders own 1.30% of the company’s stock.

A number of institutional investors have recently bought and sold shares of the stock. First National Bank of Omaha raised its position in Quanta Services by 3.2% in the 1st quarter. First National Bank of Omaha now owns 99,016 shares of the construction company’s stock worth $13,031,000 after purchasing an additional 3,082 shares during the period. Advisory Services Network LLC raised its position in Quanta Services by 2.5% in the 1st quarter. Advisory Services Network LLC now owns 34,100 shares of the construction company’s stock worth $4,488,000 after purchasing an additional 836 shares during the period. The Manufacturers Life Insurance Company increased its position in shares of Quanta Services by 17.0% during the first quarter. The Manufacturers Life Insurance Company now owns 366,107 shares of the construction company’s stock worth $48,183,000 after acquiring an additional 53,213 shares during the period. Toroso Investments LLC increased its position in shares of Quanta Services by 8.1% during the first quarter. Toroso Investments LLC now owns 2,589 shares of the construction company’s stock worth $341,000 after acquiring an additional 193 shares during the period. Finally, Stack Financial Management Inc increased its position in shares of Quanta Services by 0.4% during the first quarter. Stack Financial Management Inc now owns 270,284 shares of the construction company’s stock worth $35,572,000 after acquiring an additional 1,120 shares during the period. 87.16% of the stock is currently owned by institutional investors.

Quanta Services Company Profile (Get Rating)

Quanta Services, Inc provides specialty contracting services worldwide. The 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; energized 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.

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