Quanta Services (NYSE:PWR) PT Raised to $358.00

Quanta Services (NYSE:PWR) had its price objective boosted by Truist Financial from $319.00 to $358.00 in a note issued to investors on Wednesday, Benzinga reports. The brokerage presently has a “buy” rating on the construction company’s stock. Truist Financial’s price target would indicate a potential upside of 16.62% from the stock’s current price.

Several other analysts have also weighed in on PWR. B. Riley increased their price target on Quanta Services from $286.00 to $303.00 and gave the company a “buy” rating in a report on Friday, August 2nd. Northland Securities lifted their price target on shares of Quanta Services from $264.00 to $280.00 and gave the stock an “outperform” rating in a research note on Friday, August 2nd. Wolfe Research initiated coverage on Quanta Services in a research report on Thursday, September 19th. They set an “outperform” rating and a $313.00 target price for the company. TD Cowen increased their price target on Quanta Services from $270.00 to $280.00 and gave the stock a “buy” rating in a report on Thursday, August 8th. Finally, Citigroup boosted their price objective on Quanta Services from $302.00 to $348.00 and gave the company a “buy” rating in a report on Friday, October 4th. Four research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $299.93.

Quanta Services Trading Down 0.2 %

Shares of PWR opened at $306.99 on Wednesday. The stock has a market capitalization of $45.23 billion, a PE ratio of 57.92 and a beta of 1.01. The company’s fifty day moving average is $274.40 and its 200 day moving average is $266.88. The company has a debt-to-equity ratio of 0.45, a quick ratio of 1.25 and a current ratio of 1.30. Quanta Services has a fifty-two week low of $153.74 and a fifty-two week high of $312.52.

Quanta Services (NYSE:PWR) last announced its earnings results on Thursday, August 1st. The construction company reported $1.90 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.75 by $0.15. The firm had revenue of $5.59 billion for the quarter, compared to analysts’ expectations of $5.51 billion. Quanta Services had a net margin of 3.59% and a return on equity of 16.29%. The business’s revenue was up 10.8% compared to the same quarter last year. During the same period in the prior year, the company earned $1.47 EPS. Sell-side analysts expect that Quanta Services will post 7.81 earnings per share for the current fiscal year.

Insider Buying and Selling at Quanta Services

In related news, insider Karl W. Studer sold 23,357 shares of the business’s stock in a transaction that occurred on Wednesday, August 21st. The shares were sold at an average price of $270.51, for a total transaction of $6,318,302.07. Following the completion of the transaction, the insider now owns 10,631 shares in the company, valued at $2,875,791.81. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. In other Quanta Services news, insider Karl W. Studer sold 23,357 shares of Quanta Services stock in a transaction on Wednesday, August 21st. The shares were sold at an average price of $270.51, for a total value of $6,318,302.07. Following the transaction, the insider now directly owns 10,631 shares of the company’s stock, valued at approximately $2,875,791.81. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, COO James Redgie Probst sold 34,000 shares of the company’s stock in a transaction on Friday, August 9th. The stock was sold at an average price of $260.03, for a total value of $8,841,020.00. Following the transaction, the chief operating officer now directly owns 29,002 shares in the company, valued at approximately $7,541,390.06. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 202,357 shares of company stock valued at $53,115,572. 1.10% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Quanta Services

Hedge funds and other institutional investors have recently modified their holdings of the stock. Nomura Holdings Inc. purchased a new position in shares of Quanta Services in the fourth quarter worth $631,000. Wellington Management Group LLP grew its stake in Quanta Services by 581.3% during the 4th quarter. Wellington Management Group LLP now owns 117,014 shares of the construction company’s stock valued at $25,252,000 after purchasing an additional 99,840 shares during the last quarter. Vanguard Group Inc. increased its holdings in shares of Quanta Services by 1.2% in the fourth quarter. Vanguard Group Inc. now owns 16,235,875 shares of the construction company’s stock valued at $3,503,702,000 after purchasing an additional 191,334 shares during the period. Allen Investment Management LLC raised its stake in shares of Quanta Services by 1,418.0% in the first quarter. Allen Investment Management LLC now owns 33,396 shares of the construction company’s stock worth $8,676,000 after purchasing an additional 31,196 shares during the last quarter. Finally, Wealth Enhancement Advisory Services LLC lifted its holdings in shares of Quanta Services by 5.7% during the second quarter. Wealth Enhancement Advisory Services LLC now owns 36,862 shares of the construction company’s stock worth $9,366,000 after purchasing an additional 1,981 shares during the period. 90.49% of the stock is owned by hedge funds and other institutional investors.

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.