Quanta Services, Inc. (NYSE:PWR) Receives Average Rating of “Moderate Buy” from Brokerages

Quanta Services, Inc. (NYSE:PWR) has been given a consensus recommendation of “Moderate Buy” by the twenty analysts that are currently covering the company, MarketBeat.com reports. Seven research analysts have rated the stock with a hold recommendation and thirteen have issued a buy recommendation on the company. The average 1 year price target among brokerages that have covered the stock in the last year is $460.20.

A number of research analysts have recently issued reports on the company. Stifel Nicolaus set a $495.00 price objective on Quanta Services in a research note on Monday, November 3rd. Evercore ISI boosted their target price on shares of Quanta Services from $410.00 to $480.00 and gave the company an “outperform” rating in a research report on Friday, October 31st. Robert W. Baird set a $490.00 price objective on shares of Quanta Services in a report on Friday, October 31st. Jefferies Financial Group reduced their target price on Quanta Services from $517.00 to $506.00 and set a “buy” rating for the company in a research note on Tuesday, January 13th. Finally, Citigroup upped their price target on Quanta Services from $517.00 to $526.00 and gave the stock a “buy” rating in a research note on Friday, October 31st.

Quanta Services Stock Performance

Shares of PWR stock opened at $468.75 on Friday. The stock has a market capitalization of $69.90 billion, a PE ratio of 69.44, a PEG ratio of 2.27 and a beta of 1.16. The business’s 50 day simple moving average is $443.81 and its 200 day simple moving average is $418.98. The company has a debt-to-equity ratio of 0.66, a current ratio of 1.34 and a quick ratio of 1.30. Quanta Services has a one year low of $227.08 and a one year high of $483.29.

Quanta Services (NYSE:PWR) last issued its quarterly earnings results on Thursday, October 30th. The construction company reported $3.33 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.24 by $0.09. Quanta Services had a net margin of 3.74% and a return on equity of 18.74%. 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 company earned $2.72 EPS. The company’s revenue for the quarter was up 17.5% on a year-over-year basis. Quanta Services has set its FY 2025 guidance at 10.330-10.830 EPS. As a group, research analysts forecast that Quanta Services will post 9.34 earnings per share for the current year.

Insider Buying and Selling at Quanta Services

In other Quanta Services news, insider Gerald A. Ducey, Jr. sold 7,653 shares of the firm’s stock in a transaction on 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 transaction, the insider directly owned 19,960 shares of the company’s stock, valued at approximately $8,903,756.80. This trade represents a 27.72% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Bernard Fried sold 4,000 shares of the business’s stock in a transaction dated Monday, November 3rd. The stock was sold at an average price of $452.19, for a total transaction of $1,808,760.00. Following the sale, the director directly owned 12,493 shares of the company’s stock, valued at approximately $5,649,209.67. The trade was a 24.25% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders have sold 32,002 shares of company stock worth $14,295,857. Corporate insiders own 1.10% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the stock. Bingham Private Wealth LLC bought a new stake in Quanta Services during the fourth quarter worth $1,055,000. Farther Finance Advisors LLC grew its stake in shares of Quanta Services by 51.6% in the 4th quarter. Farther Finance Advisors LLC now owns 7,651 shares of the construction company’s stock worth $3,229,000 after acquiring an additional 2,604 shares in the last quarter. Sunpointe LLC grew its stake in shares of Quanta Services by 267.7% in the 4th quarter. Sunpointe LLC now owns 4,592 shares of the construction company’s stock worth $1,938,000 after acquiring an additional 3,343 shares in the last quarter. Sage Mountain Advisors LLC purchased a new stake in shares of Quanta Services in the fourth quarter valued at about $371,000. Finally, Split Rock Private Trading & Wealth Management LLC bought a new position in shares of Quanta Services during the fourth quarter valued at about $785,000. Hedge funds and other institutional investors own 90.49% of the company’s stock.

About Quanta Services

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.