Quanta Services (NYSE:PWR) Price Target Raised to $280.00 at Northland Securities

Quanta Services (NYSE:PWR) had its price objective lifted by Northland Securities from $264.00 to $280.00 in a research report released on Friday, Benzinga reports. They currently have an outperform rating on the construction company’s stock.

A number of other analysts have also commented on PWR. Citigroup boosted their price objective on shares of Quanta Services from $299.00 to $302.00 and gave the stock a buy rating in a research report on Monday, July 22nd. Robert W. Baird lifted their target price on Quanta Services from $287.00 to $288.00 and gave the company an outperform rating in a research report on Friday, July 19th. B. Riley raised their price target on Quanta Services from $286.00 to $303.00 and gave the company a buy rating in a research note on Friday. DA Davidson increased their price objective on Quanta Services from $225.00 to $250.00 and gave the company a neutral rating in a report on Tuesday, May 7th. Finally, Argus increased their price target on shares of Quanta Services from $285.00 to $310.00 and gave the company a buy rating in a research note on Thursday, May 30th. Three investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of Moderate Buy and a consensus target price of $281.00.

Quanta Services Stock Down 5.5 %

PWR traded down $13.96 during trading on Friday, hitting $240.92. The company had a trading volume of 1,782,527 shares, compared to its average volume of 1,038,446. The firm’s 50-day moving average price is $264.85 and its 200 day moving average price is $248.58. Quanta Services has a one year low of $153.74 and a one year high of $286.87. The company has a market capitalization of $35.27 billion, a PE ratio of 46.69 and a beta of 1.03. The company has a quick ratio of 1.32, a current ratio of 1.30 and a debt-to-equity ratio of 0.45.

Quanta Services (NYSE:PWR) last posted its quarterly earnings data on Thursday, May 2nd. The construction company reported $1.23 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.09 by $0.14. Quanta Services had a return on equity of 16.29% and a net margin of 3.59%. The business had revenue of $5.03 billion during the quarter, compared to the consensus estimate of $4.96 billion. As a group, equities analysts expect that Quanta Services will post 7.69 earnings per share for the current year.

Quanta Services Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, July 12th. Investors of record on Monday, July 1st were paid a $0.09 dividend. The ex-dividend date of this dividend was Monday, July 1st. This represents a $0.36 annualized dividend and a yield of 0.15%. Quanta Services’s dividend payout ratio (DPR) is presently 6.98%.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in PWR. Nomura Holdings Inc. acquired a new stake in Quanta Services in the 4th quarter worth about $631,000. Wellington Management Group LLP grew its position in Quanta Services by 581.3% during the fourth quarter. Wellington Management Group LLP now owns 117,014 shares of the construction company’s stock worth $25,252,000 after buying an additional 99,840 shares in the last quarter. Truist Financial Corp increased its stake in Quanta Services by 2.2% during the 4th quarter. Truist Financial Corp now owns 432,810 shares of the construction company’s stock worth $93,400,000 after acquiring an additional 9,421 shares during the period. Carnegie Capital Asset Management LLC lifted its position in shares of Quanta Services by 24.5% during the 4th quarter. Carnegie Capital Asset Management LLC now owns 1,650 shares of the construction company’s stock valued at $356,000 after acquiring an additional 325 shares during the period. Finally, Vanguard Group Inc. grew its holdings in shares of Quanta Services by 1.2% during the 4th quarter. Vanguard Group Inc. now owns 16,235,875 shares of the construction company’s stock worth $3,503,702,000 after purchasing an additional 191,334 shares in the last quarter. Institutional investors own 90.49% of the company’s stock.

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.