Quanta Services (NYSE:PWR) Given New $250.00 Price Target at DA Davidson

Quanta Services (NYSE:PWR) had its target price hoisted by analysts at DA Davidson from $225.00 to $250.00 in a note issued to investors on Tuesday, Benzinga reports. The brokerage currently has a “neutral” rating on the construction company’s stock. DA Davidson’s target price suggests a potential downside of 5.61% from the company’s previous close. DA Davidson also issued estimates for Quanta Services’ FY2025 earnings at $8.54 EPS.

A number of other brokerages have also recently issued reports on PWR. Stifel Nicolaus upped their price objective 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. Robert W. Baird raised their price objective on Quanta Services from $265.00 to $287.00 and gave the company an “outperform” rating in a research note on Friday, May 3rd. Truist Financial reissued a “buy” rating and issued a $305.00 target price (up previously from $301.00) on shares of Quanta Services in a research note on Monday. The Goldman Sachs Group lifted their price target on Quanta Services from $227.00 to $259.00 and gave the stock a “buy” rating in a research note on Monday, February 26th. Finally, B. Riley increased their price objective on Quanta Services from $246.00 to $286.00 and gave the company a “buy” rating in a research note on Friday, May 3rd. Three investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. Based on data from MarketBeat.com, Quanta Services currently has an average rating of “Moderate Buy” and a consensus price target of $262.00.

Quanta Services Stock Down 0.8 %

Shares of NYSE:PWR opened at $264.86 on Tuesday. The firm has a market capitalization of $38.77 billion, a PE ratio of 51.33 and a beta of 1.10. The company has a debt-to-equity ratio of 0.50, a quick ratio of 1.32 and a current ratio of 1.36. Quanta Services has a 52-week low of $153.74 and a 52-week high of $271.96. The firm has a fifty day moving average of $252.43 and a 200 day moving average of $216.74.

Quanta Services (NYSE:PWR) last posted its quarterly earnings data 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. The firm had revenue of $5.78 billion during the quarter, compared to analysts’ expectations of $5.19 billion. Quanta Services had a return on equity of 16.25% and a net margin of 3.57%. The company’s revenue for the quarter was up 31.0% compared to the same quarter last year. During the same period in the prior year, the business earned $1.54 EPS. As a group, research analysts anticipate that Quanta Services will post 7.63 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, EVP Donald Wayne sold 595 shares of the stock in a transaction that occurred on Tuesday, March 12th. The stock was sold at an average price of $239.61, for a total value of $142,567.95. Following the completion of the transaction, the executive vice president now owns 41,954 shares of the company’s stock, valued at approximately $10,052,597.94. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, EVP Derrick A. Jensen sold 18,500 shares of the company’s stock in a transaction dated 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 sale, the executive vice president now directly owns 263,725 shares of the company’s stock, valued at approximately $62,476,452.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Donald Wayne sold 595 shares of Quanta Services stock in a transaction dated Tuesday, March 12th. The shares were sold at an average price of $239.61, for a total transaction of $142,567.95. Following the transaction, the executive vice president now directly owns 41,954 shares of the company’s stock, valued at $10,052,597.94. The disclosure for this sale can be found here. Insiders sold 47,125 shares of company stock worth $11,270,215 over the last three months. Company insiders own 1.10% of the company’s stock.

Hedge Funds Weigh In On Quanta Services

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Private Ocean LLC purchased a new position in Quanta Services during the first quarter valued at $26,000. Salomon & Ludwin LLC purchased a new position in shares of Quanta Services in the 1st quarter worth about $26,000. Newbridge Financial Services Group Inc. bought a new position in Quanta Services in the 4th quarter worth about $34,000. Grove Bank & Trust grew its position in Quanta Services by 75.6% during the 3rd quarter. Grove Bank & Trust now owns 158 shares of the construction company’s stock valued at $30,000 after purchasing an additional 68 shares during the last quarter. Finally, Hazlett Burt & Watson Inc. increased its stake in Quanta Services by 47.3% during the 4th quarter. Hazlett Burt & Watson Inc. now owns 162 shares of the construction company’s stock valued at $34,000 after purchasing an additional 52 shares in the last quarter. 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.