Quanta Services (NYSE:PWR) Price Target Increased to $285.00 by Analysts at Citigroup

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

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

Quanta Services Trading Up 0.9 %

Shares of Quanta Services 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 firm has a 50-day moving average of $243.37 and a 200-day moving average of $209.86. Quanta Services has a 52-week low of $153.74 and a 52-week high of $265.82. The stock has a market cap of $35.94 billion, a PE ratio of 49.01 and a beta of 1.11.

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

Quanta Services Dividend Announcement

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

Insiders Place Their Bets

In related news, EVP Donald Wayne sold 1,101 shares of Quanta Services stock in a transaction on Wednesday, March 27th. The shares were sold at an average price of $261.94, for a total transaction of $288,395.94. Following the completion of the transaction, the executive vice president now owns 40,065 shares of the company’s stock, valued at $10,494,626.10. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In other Quanta Services news, EVP Derrick A. Jensen sold 18,500 shares of the stock in a transaction that occurred on Tuesday, February 27th. The stock was sold at an average price of $236.90, for a total transaction of $4,382,650.00. Following the transaction, the executive vice president now directly owns 263,725 shares in the company, valued at approximately $62,476,452.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP Donald Wayne sold 1,101 shares of the firm’s stock in a transaction that occurred on Wednesday, March 27th. The stock was sold at an average price of $261.94, for a total transaction of $288,395.94. Following the sale, the executive vice president now directly owns 40,065 shares of the company’s stock, valued at approximately $10,494,626.10. The disclosure for this sale can be found here. In the last 90 days, insiders sold 47,125 shares of company stock worth $11,270,215. 1.10% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Quanta Services

A number of large investors have recently bought and sold shares of PWR. Vanguard Group Inc. boosted its position in shares of Quanta Services by 1.2% during the 4th quarter. Vanguard Group Inc. now owns 16,235,875 shares of the construction company’s stock worth $3,503,702,000 after purchasing an additional 191,334 shares in the last quarter. Capital World Investors boosted its holdings in Quanta Services by 11.6% in the fourth quarter. Capital World Investors now owns 6,000,722 shares of the construction company’s stock worth $1,294,956,000 after acquiring an additional 624,545 shares in the last quarter. FMR LLC grew its stake in Quanta Services by 1.1% in the third quarter. FMR LLC now owns 4,229,280 shares of the construction company’s stock valued at $791,171,000 after acquiring an additional 44,141 shares during the period. Artisan Partners Limited Partnership increased its holdings in shares of Quanta Services by 384.9% during the fourth quarter. Artisan Partners Limited Partnership now owns 2,438,653 shares of the construction company’s stock valued at $526,261,000 after acquiring an additional 1,935,786 shares in the last quarter. Finally, Norges Bank acquired a new position in shares of Quanta Services during the fourth quarter worth approximately $335,777,000. 90.49% of the stock is currently owned by institutional investors and hedge funds.

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.