Quanta Services (NYSE:PWR) Price Target Increased to $288.00 by Analysts at Evercore ISI

Quanta Services (NYSE:PWR) had its price objective upped by investment analysts at Evercore ISI from $255.00 to $288.00 in a report issued on Tuesday, Benzinga reports. The firm presently has an “outperform” rating on the construction company’s stock. Evercore ISI’s price objective suggests a potential upside of 8.74% from the company’s current price.

PWR has been the topic of a number of other reports. DA Davidson boosted their target price on shares of Quanta Services from $225.00 to $250.00 and gave the stock a “neutral” rating in a research report on Tuesday. 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 report on Friday, February 23rd. The Goldman Sachs Group lifted their target price on Quanta Services from $227.00 to $259.00 and gave the stock a “buy” rating in a research report on Monday, February 26th. B. Riley increased their price target on Quanta Services from $246.00 to $286.00 and gave the company a “buy” rating in a report on Friday, May 3rd. Finally, KeyCorp initiated coverage on Quanta Services in a research note on Wednesday, January 10th. They set a “sector weight” rating for the company. Three analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. According to MarketBeat, Quanta Services currently has an average rating of “Moderate Buy” and an average price target of $262.00.

Quanta Services Trading Down 0.8 %

Shares of PWR stock opened at $264.86 on Tuesday. Quanta Services has a fifty-two week low of $153.74 and a fifty-two week high of $271.96. The firm’s 50 day moving average price is $252.43 and its two-hundred day moving average price is $216.74. The stock has a market cap of $38.77 billion, a price-to-earnings ratio of 51.33 and a beta of 1.10. The company has a quick ratio of 1.32, a current ratio of 1.36 and a debt-to-equity ratio of 0.50.

Quanta Services (NYSE:PWR) last issued its earnings results on Thursday, February 22nd. The construction company reported $2.04 earnings per share for the quarter, topping the consensus estimate of $1.83 by $0.21. The company had revenue of $5.78 billion during the quarter, compared to the consensus estimate 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 was up 31.0% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.54 earnings per share. On average, analysts anticipate that Quanta Services will post 7.63 EPS for the current year.

Insider Buying and Selling at Quanta Services

In other Quanta Services news, EVP Derrick A. Jensen sold 18,500 shares of the stock in a transaction 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 sale, the executive vice president now directly owns 263,725 shares of the company’s stock, valued at $62,476,452.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In related news, EVP Donald Wayne sold 1,101 shares of Quanta Services stock in a transaction dated Wednesday, March 27th. The shares were 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 in the company, valued at $10,494,626.10. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, EVP Derrick A. Jensen sold 18,500 shares of the firm’s stock in a transaction dated 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 transaction, the executive vice president now directly owns 263,725 shares in the company, valued at approximately $62,476,452.50. The disclosure for this sale can be found here. Insiders sold a total of 47,125 shares of company stock worth $11,270,215 over the last ninety days. Company 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 company. Private Ocean LLC acquired a new stake in shares of Quanta Services in the first quarter valued at $26,000. Salomon & Ludwin LLC acquired a new position in shares of Quanta Services in the 1st quarter worth approximately $26,000. Grove Bank & Trust boosted its holdings in Quanta Services by 75.6% during the third quarter. Grove Bank & Trust now owns 158 shares of the construction company’s stock worth $30,000 after buying an additional 68 shares in the last quarter. Hazlett Burt & Watson Inc. lifted its position in shares of 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 acquiring an additional 52 shares during the last quarter. Finally, Newbridge Financial Services Group Inc. acquired a new stake in shares of Quanta Services during the fourth quarter worth $34,000. Institutional investors 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.