Quanta Services (NYSE:PWR) PT Raised to $286.00

Quanta Services (NYSE:PWR) had its price objective raised by B. Riley from $246.00 to $286.00 in a report published on Friday, Benzinga reports. B. Riley currently has a buy rating on the construction company’s stock.

A number of other analysts have also commented on PWR. TD Cowen lifted their target price on shares of Quanta Services from $205.00 to $270.00 and gave the stock an outperform rating in a report on Tuesday, February 27th. Truist Financial assumed coverage on Quanta Services in a report on Thursday, March 14th. They issued a buy rating and a $301.00 price objective for the company. Citigroup raised their target price on Quanta Services from $275.00 to $285.00 and gave the stock a buy rating in a report on Monday, April 22nd. DA Davidson boosted their target price on Quanta Services from $190.00 to $225.00 and gave the stock a neutral rating in a research report on Wednesday, February 28th. Finally, Stifel Nicolaus increased their price target on shares of Quanta Services from $237.00 to $252.00 and gave the company a buy rating in a research report on Friday, February 23rd. Three research analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. According to MarketBeat, the stock has an average rating of Moderate Buy and an average target price of $256.15.

Quanta Services Stock Up 5.1 %

Shares of PWR opened at $269.44 on Friday. The firm has a market capitalization of $39.44 billion, a price-to-earnings ratio of 52.22 and a beta of 1.10. Quanta Services has a 52 week low of $153.74 and a 52 week high of $270.42. The company has a debt-to-equity ratio of 0.50, a quick ratio of 1.32 and a current ratio of 1.36. The business’s fifty day moving average price is $251.36 and its two-hundred day moving average price is $215.69.

Quanta Services (NYSE:PWR) last released its earnings results on Thursday, February 22nd. The construction company reported $2.04 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.83 by $0.21. Quanta Services had a net margin of 3.57% and a return on equity of 16.25%. The company had revenue of $5.78 billion for the quarter, compared to the consensus estimate of $5.19 billion. During the same period in the prior year, the company posted $1.54 EPS. The company’s revenue was up 31.0% compared to the same quarter last year. On average, analysts predict that Quanta Services will post 7.63 earnings per share for the current year.

Quanta Services Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, April 17th. Stockholders of record on Tuesday, April 9th were given a dividend of $0.09 per share. This represents a $0.36 annualized dividend and a dividend yield of 0.13%. The ex-dividend date of this dividend was Monday, April 8th. Quanta Services’s dividend payout ratio is 6.98%.

Insider Activity at Quanta Services

In other Quanta Services news, EVP Derrick A. Jensen sold 18,500 shares of the stock in a transaction dated 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 completion of the transaction, the executive vice president now owns 263,725 shares in the company, valued at approximately $62,476,452.50. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. In related news, Director Worthing Jackman sold 9,572 shares of the stock in a transaction on Wednesday, February 28th. The shares were sold at an average price of $237.31, for a total transaction of $2,271,531.32. Following the completion of the transaction, the director now owns 7,486 shares in the company, valued at $1,776,502.66. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Derrick A. Jensen sold 18,500 shares of Quanta Services 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 sale, the executive vice president now owns 263,725 shares in the company, valued at $62,476,452.50. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 47,125 shares of company stock valued at $11,270,215. 1.10% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Quanta Services

Several hedge funds have recently modified their holdings of the stock. Cambridge Investment Research Advisors Inc. boosted its holdings in shares of Quanta Services by 86.8% in the 3rd quarter. Cambridge Investment Research Advisors Inc. now owns 30,646 shares of the construction company’s stock valued at $5,733,000 after buying an additional 14,241 shares during the last quarter. Mn Services Vermogensbeheer B.V. increased its stake in shares of Quanta Services by 2.7% during the 3rd quarter. Mn Services Vermogensbeheer B.V. now owns 71,100 shares of the construction company’s stock worth $13,301,000 after purchasing an additional 1,900 shares during the last quarter. Brown Advisory Inc. lifted its stake in Quanta Services by 0.6% in the 3rd quarter. Brown Advisory Inc. now owns 42,844 shares of the construction company’s stock valued at $8,015,000 after purchasing an additional 265 shares during the last quarter. Everhart Financial Group Inc. lifted its stake in Quanta Services by 6.1% in the 3rd quarter. Everhart Financial Group Inc. now owns 2,797 shares of the construction company’s stock valued at $523,000 after purchasing an additional 161 shares during the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in Quanta Services by 12.5% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 53,884 shares of the construction company’s stock worth $10,080,000 after purchasing an additional 5,984 shares during the period. Institutional investors own 90.49% of the company’s stock.

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.