Quanta Services (NYSE:PWR) Price Target Raised to $480.00

Quanta Services (NYSE:PWR) had its price target lifted by Evercore ISI from $410.00 to $480.00 in a report issued on Friday, Marketbeat reports. They currently have an outperform rating on the construction company’s stock.

A number of other research firms have also issued reports on PWR. Weiss Ratings restated a “buy (b-)” rating on shares of Quanta Services in a report on Wednesday, October 8th. DA Davidson upped their price target on Quanta Services from $305.00 to $395.00 and gave the company a “neutral” rating in a research report on Friday, August 1st. TD Cowen upped their price target on Quanta Services from $355.00 to $425.00 and gave the company a “buy” rating in a research report on Tuesday, August 5th. Citigroup upped their price target on Quanta Services from $490.00 to $517.00 and gave the company a “buy” rating in a research report on Monday, October 20th. Finally, Seaport Res Ptn raised Quanta Services to a “hold” rating in a research report on Thursday, July 10th. Thirteen research analysts have rated the stock with a Buy rating and twelve have issued a Hold rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $435.55.

Quanta Services Stock Performance

Shares of NYSE PWR opened at $450.16 on Friday. The company has a debt-to-equity ratio of 0.59, a quick ratio of 1.32 and a current ratio of 1.37. The firm has a market cap of $67.08 billion, a P/E ratio of 69.68, a PEG ratio of 2.66 and a beta of 1.04. The stock has a fifty day moving average price of $408.11 and a two-hundred day moving average price of $375.80. Quanta Services has a 1 year low of $227.08 and a 1 year high of $469.43.

Quanta Services (NYSE:PWR) last announced its quarterly earnings data on Thursday, October 30th. The construction company reported $3.33 earnings per share for the quarter, beating the consensus estimate of $3.24 by $0.09. The business had revenue of $7.63 billion during the quarter, compared to analyst estimates of $7.41 billion. Quanta Services had a return on equity of 18.41% and a net margin of 3.73%.The company’s revenue was up 17.5% on a year-over-year basis. During the same quarter in the prior year, the firm posted $2.72 earnings per share. Quanta Services has set its FY 2025 guidance at 10.330-10.830 EPS. Research analysts forecast that Quanta Services will post 9.34 EPS for the current fiscal year.

Quanta Services Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, October 10th. Shareholders of record on Wednesday, October 1st were issued a $0.10 dividend. The ex-dividend date of this dividend was Wednesday, October 1st. This represents a $0.40 dividend on an annualized basis and a yield of 0.1%. Quanta Services’s dividend payout ratio (DPR) is 5.93%.

Institutional Investors Weigh In On Quanta Services

A number of institutional investors have recently added to or reduced their stakes in the company. Cullen Frost Bankers Inc. acquired a new stake in shares of Quanta Services during the 1st quarter worth approximately $25,000. Copia Wealth Management grew its holdings in shares of Quanta Services by 509.1% during the 2nd quarter. Copia Wealth Management now owns 67 shares of the construction company’s stock worth $25,000 after purchasing an additional 56 shares in the last quarter. SOA Wealth Advisors LLC. grew its holdings in shares of Quanta Services by 159.3% during the 2nd quarter. SOA Wealth Advisors LLC. now owns 70 shares of the construction company’s stock worth $26,000 after purchasing an additional 43 shares in the last quarter. Darwin Wealth Management LLC acquired a new stake in shares of Quanta Services during the 2nd quarter worth approximately $26,000. Finally, Solstein Capital LLC grew its holdings in shares of Quanta Services by 185.7% during the 2nd quarter. Solstein Capital LLC now owns 80 shares of the construction company’s stock worth $30,000 after purchasing an additional 52 shares in the last quarter. 90.49% of the stock is 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.