Quanta Services (NYSE:PWR) Given New $517.00 Price Target at Stifel Nicolaus

Quanta Services (NYSE:PWR) had its target price boosted by Stifel Nicolaus from $495.00 to $517.00 in a report published on Monday morning, Marketbeat.com reports. The brokerage currently has a buy rating on the construction company’s stock.

Other equities research analysts also recently issued research reports about the company. Mizuho set a $415.00 price target on Quanta Services in a report on Tuesday, October 28th. JPMorgan Chase & Co. raised shares of Quanta Services from a “neutral” rating to an “overweight” rating and increased their price objective for the company from $457.00 to $515.00 in a research report on Monday, December 8th. Citigroup lifted their target price on shares of Quanta Services from $526.00 to $540.00 and gave the stock a “buy” rating in a report on Monday. Robert W. Baird set a $490.00 price objective on shares of Quanta Services in a research report on Friday, October 31st. Finally, Roth Mkm set a $500.00 price objective on Quanta Services and gave the stock a “buy” rating in a report on Friday, October 31st. Thirteen equities research analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $462.00.

Quanta Services Trading Up 0.4%

Shares of NYSE:PWR opened at $470.58 on Monday. Quanta Services has a 52-week low of $227.08 and a 52-week high of $483.29. The company has a debt-to-equity ratio of 0.66, a quick ratio of 1.30 and a current ratio of 1.34. The company has a market capitalization of $70.17 billion, a P/E ratio of 69.72, a price-to-earnings-growth ratio of 2.27 and a beta of 1.16. The company has a 50-day simple moving average of $444.69 and a 200 day simple moving average of $420.17.

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

Insiders Place Their Bets

In related news, Director Worthing Jackman sold 6,349 shares of the business’s stock in a transaction on Wednesday, November 5th. The shares were sold at an average price of $450.45, for a total value of $2,859,907.05. Following the sale, the director directly owned 2,730 shares of the company’s stock, valued at approximately $1,229,728.50. The trade was a 69.93% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, EVP Donald Wayne sold 14,000 shares of the company’s stock in a transaction dated Thursday, November 6th. The stock was sold at an average price of $443.81, for a total value of $6,213,340.00. Following the transaction, the executive vice president directly owned 34,575 shares of the company’s stock, valued at $15,344,730.75. This represents a 28.82% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 32,002 shares of company stock valued at $14,295,857 over the last ninety days. 1.10% of the stock is owned by insiders.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the business. Copia Wealth Management grew its stake in Quanta Services by 509.1% in the second quarter. Copia Wealth Management now owns 67 shares of the construction company’s stock valued at $25,000 after purchasing an additional 56 shares in the last quarter. SOA Wealth Advisors LLC. lifted its position in Quanta Services by 159.3% during the second quarter. SOA Wealth Advisors LLC. now owns 70 shares of the construction company’s stock worth $26,000 after acquiring an additional 43 shares during the last quarter. Darwin Wealth Management LLC bought a new stake in Quanta Services in the 2nd quarter valued at $26,000. Activest Wealth Management boosted its position in shares of Quanta Services by 94.1% in the third quarter. Activest Wealth Management now owns 66 shares of the construction company’s stock valued at $27,000 after acquiring an additional 32 shares during the period. Finally, Flagship Harbor Advisors LLC bought a new stake in Quanta Services in the 4th quarter valued at about $28,000. Institutional investors own 90.49% of the company’s stock.

Quanta Services Company Profile

Quanta Services, Inc is a leading specialty contractor that provides comprehensive infrastructure solutions for the electric power, pipeline and energy, and communications markets. Headquartered in Houston, Texas, the company delivers engineering, procurement, construction, installation, maintenance and repair services that support the development, modernization and ongoing operation of critical energy and communications networks.

In the electric power sector, Quanta works on transmission and distribution systems, substation construction and grid modernization projects that include integration of renewable generation and energy storage.