Quanta Services’ (PWR) “Buy” Rating Reaffirmed at Truist Financial

Quanta Services (NYSE:PWR)‘s stock had its “buy” rating reissued by investment analysts at Truist Financial in a research report issued on Monday, Benzinga reports. They currently have a $305.00 target price on the construction company’s stock, up from their prior target price of $301.00. Truist Financial’s price target suggests a potential upside of 14.29% from the company’s previous close.

A number of other equities analysts also recently issued reports on the company. Robert W. Baird increased their price target on Quanta Services from $265.00 to $287.00 and gave the stock an “outperform” rating in a research report on Friday, May 3rd. Stifel Nicolaus lifted their price target on shares of Quanta Services from $237.00 to $252.00 and gave the company a “buy” rating in a research note on Friday, February 23rd. TD Cowen upped their price objective on shares of Quanta Services from $205.00 to $270.00 and gave the stock an “outperform” rating in a research report on Tuesday, February 27th. Evercore ISI initiated coverage on shares of Quanta Services in a research report on Tuesday, February 13th. They issued an “outperform” rating and a $237.00 target price on the stock. Finally, B. Riley upped their price target on shares of Quanta Services from $246.00 to $286.00 and gave the stock a “buy” rating in a research report on Friday, May 3rd. Three research analysts have rated the stock with a hold rating and ten have given a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $262.00.

Quanta Services Stock Down 1.0 %

Shares of PWR opened at $266.86 on Monday. The stock’s 50-day moving average price is $251.91 and its 200-day moving average price is $216.41. The company has a quick ratio of 1.32, a current ratio of 1.36 and a debt-to-equity ratio of 0.50. The company has a market capitalization of $39.07 billion, a price-to-earnings ratio of 51.72 and a beta of 1.10. Quanta Services has a 52 week low of $153.74 and a 52 week high of $271.96.

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

Insider Transactions at Quanta Services

In related 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 value of $4,382,650.00. Following the completion of the sale, the executive vice president now owns 263,725 shares of the company’s stock, valued at $62,476,452.50. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In other news, EVP Donald Wayne sold 595 shares of the firm’s stock in a transaction that occurred on Tuesday, March 12th. The shares were sold at an average price of $239.61, for a total transaction of $142,567.95. Following the completion of the sale, the executive vice president now owns 41,954 shares in the company, valued at approximately $10,052,597.94. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Derrick A. Jensen sold 18,500 shares of the company’s stock in a transaction that occurred on Tuesday, February 27th. The shares were sold at an average price of $236.90, for a total value 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 $62,476,452.50. The disclosure for this sale can be found here. Insiders have sold a total of 47,125 shares of company stock worth $11,270,215 in the last ninety days. Insiders own 1.10% of the company’s stock.

Institutional Investors Weigh In On Quanta Services

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Private Ocean LLC acquired a new stake in shares of Quanta Services during the 1st quarter worth about $26,000. Salomon & Ludwin LLC acquired a new stake in shares of Quanta Services during the first quarter valued at about $26,000. Grove Bank & Trust raised its stake in shares of Quanta Services by 75.6% in the 3rd quarter. Grove Bank & Trust now owns 158 shares of the construction company’s stock valued at $30,000 after acquiring an additional 68 shares during the period. Hazlett Burt & Watson Inc. lifted its holdings in shares of Quanta Services by 47.3% in the 4th quarter. Hazlett Burt & Watson Inc. now owns 162 shares of the construction company’s stock worth $34,000 after acquiring an additional 52 shares during the last quarter. Finally, Newbridge Financial Services Group Inc. purchased a new position in shares of Quanta Services during the 4th quarter worth approximately $34,000. Institutional investors and hedge funds own 90.49% of the company’s stock.

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.