Quanta Services (NYSE:PWR) Hits New 1-Year High Following Analyst Upgrade

Quanta Services, Inc. (NYSE:PWR)’s stock price reached a new 52-week high during mid-day trading on Monday after JPMorgan Chase & Co. upgraded the stock from a neutral rating to an overweight rating. JPMorgan Chase & Co. now has a $515.00 price target on the stock, up from their previous price target of $457.00. Quanta Services traded as high as $472.00 and last traded at $468.57, with a volume of 119124 shares changing hands. The stock had previously closed at $460.64.

Several other brokerages have also recently issued reports on PWR. Stifel Nicolaus set a $495.00 target price on shares of Quanta Services in a research report on Monday, November 3rd. Citigroup upped their price objective on Quanta Services from $517.00 to $526.00 and gave the company a “buy” rating in a research report on Friday, October 31st. Mizuho set a $415.00 price objective on Quanta Services in a research note on Tuesday, October 28th. Evercore ISI boosted their target price on Quanta Services from $410.00 to $480.00 and gave the company an “outperform” rating in a research report on Friday, October 31st. Finally, Argus set a $540.00 price target on Quanta Services in a report on Friday, October 31st. Fourteen investment analysts have rated the stock with a Buy rating and eleven have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $449.24.

Insiders Place Their Bets

In other Quanta Services news, insider Gerald A. Ducey, Jr. sold 7,653 shares of the business’s stock in a transaction dated Thursday, November 6th. The shares were sold at an average price of $446.08, for a total value of $3,413,850.24. Following the completion of the sale, the insider directly owned 19,960 shares of the company’s stock, valued at $8,903,756.80. The trade was a 27.72% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Donald Wayne sold 14,000 shares of the firm’s stock in a transaction that occurred on Thursday, November 6th. The stock was sold at an average price of $443.81, for a total transaction of $6,213,340.00. Following the transaction, the executive vice president directly owned 34,575 shares in the company, valued at approximately $15,344,730.75. This trade represents a 28.82% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 32,002 shares of company stock valued at $14,295,857 over the last quarter. 1.10% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the company. Copia Wealth Management lifted its holdings in shares of Quanta Services by 509.1% in the 2nd quarter. Copia Wealth Management now owns 67 shares of the construction company’s stock worth $25,000 after buying an additional 56 shares during the period. SOA Wealth Advisors LLC. grew its holdings in 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 acquiring an additional 43 shares in the last quarter. Darwin Wealth Management LLC purchased a new position in Quanta Services during the 2nd quarter valued at about $26,000. Activest Wealth Management raised its holdings in shares of Quanta Services by 94.1% in the 3rd quarter. Activest Wealth Management now owns 66 shares of the construction company’s stock valued at $27,000 after purchasing an additional 32 shares in the last quarter. Finally, Solstein Capital LLC lifted its position in shares of Quanta Services by 185.7% in 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 during the period. 90.49% of the stock is currently owned by hedge funds and other institutional investors.

Quanta Services Trading Up 0.5%

The stock has a market capitalization of $69.05 billion, a P/E ratio of 68.60, a P/E/G ratio of 2.62 and a beta of 1.14. The stock’s 50 day moving average price is $440.49 and its 200-day moving average price is $400.70. The company has a quick ratio of 1.30, a current ratio of 1.34 and a debt-to-equity ratio of 0.66.

Quanta Services (NYSE:PWR) last issued its quarterly earnings data on Thursday, October 30th. The construction company reported $3.33 EPS for the quarter, topping analysts’ consensus estimates of $3.24 by $0.09. The company had revenue of $7.63 billion during the quarter, compared to the consensus estimate of $7.41 billion. Quanta Services had a net margin of 3.74% and a return on equity of 18.74%. Quanta Services’s revenue for the quarter was up 17.5% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $2.72 earnings per share. Quanta Services has set its FY 2025 guidance at 10.330-10.830 EPS. As a group, equities research analysts expect that Quanta Services, Inc. will post 9.34 earnings per share for the current year.

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.