Quanta Services, Inc. (NYSE:PWR) Receives $262.00 Average Target Price from Brokerages

Quanta Services, Inc. (NYSE:PWR) has earned an average rating of “Moderate Buy” from the twelve brokerages that are covering the company, MarketBeat reports. Two equities research analysts have rated the stock with a hold recommendation and ten have issued a buy recommendation on the company. The average 12 month price objective among analysts that have issued a report on the stock in the last year is $262.00.

Several research firms have recently issued reports on PWR. B. Riley boosted their target price on Quanta Services from $246.00 to $286.00 and gave the stock a “buy” rating in a research report on Friday, May 3rd. Stifel Nicolaus upped their target price on shares of Quanta Services from $237.00 to $252.00 and gave the company a “buy” rating in a research note on Friday, February 23rd. Truist Financial reissued a “buy” rating and set a $305.00 price target (up from $301.00) on shares of Quanta Services in a research report on Monday, May 6th. The Goldman Sachs Group upped their price objective on shares of Quanta Services from $227.00 to $259.00 and gave the company a “buy” rating in a research report on Monday, February 26th. Finally, DA Davidson lifted their target price on Quanta Services from $225.00 to $250.00 and gave the stock a “neutral” rating in a report on Tuesday, May 7th.

Insiders Place Their Bets

In other news, EVP Derrick A. Jensen sold 18,500 shares of the firm’s stock in a transaction dated Tuesday, February 27th. The stock was sold at an average price of $236.90, for a total value of $4,382,650.00. Following the completion of the transaction, the executive vice president now owns 263,725 shares in the company, valued at approximately $62,476,452.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other Quanta Services news, Director Worthing Jackman sold 9,572 shares of the company’s stock in a transaction on Wednesday, February 28th. The shares were sold at an average price of $237.31, for a total transaction of $2,271,531.32. Following the sale, the director now directly owns 7,486 shares of the company’s stock, valued at $1,776,502.66. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Derrick A. Jensen sold 18,500 shares of the company’s stock in a transaction dated Tuesday, February 27th. The shares were sold at an average price of $236.90, for a total transaction of $4,382,650.00. Following the completion of the sale, the executive vice president now directly owns 263,725 shares in the company, valued at $62,476,452.50. The disclosure for this sale can be found here. Insiders have sold 47,125 shares of company stock valued at $11,270,215 in the last three months. 1.10% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Private Ocean LLC acquired a new position in shares of Quanta Services in the first quarter valued at $26,000. Salomon & Ludwin LLC bought a new stake in shares of Quanta Services during the first quarter worth approximately $26,000. Newbridge Financial Services Group Inc. acquired a new position in shares of Quanta Services in the fourth quarter valued at approximately $34,000. Grove Bank & Trust lifted its holdings in shares of Quanta Services by 75.6% during the third quarter. Grove Bank & Trust now owns 158 shares of the construction company’s stock worth $30,000 after buying an additional 68 shares in the last quarter. Finally, Hazlett Burt & Watson Inc. grew its stake in shares of Quanta Services by 47.3% in the fourth quarter. Hazlett Burt & Watson Inc. now owns 162 shares of the construction company’s stock valued at $34,000 after acquiring an additional 52 shares in the last quarter. 90.49% of the stock is currently owned by institutional investors.

Quanta Services Trading Up 0.5 %

PWR opened at $271.48 on Thursday. The firm has a 50 day simple moving average of $253.63 and a 200 day simple moving average of $218.21. Quanta Services has a fifty-two week low of $153.74 and a fifty-two week high of $272.87. The company has a market cap of $39.74 billion, a price-to-earnings ratio of 52.61 and a beta of 1.10. The company has a debt-to-equity ratio of 0.50, a current ratio of 1.36 and a quick ratio of 1.32.

Quanta Services (NYSE:PWR) last issued its earnings results on Thursday, February 22nd. The construction company reported $2.04 EPS for the quarter, beating the consensus estimate of $1.83 by $0.21. Quanta Services had a net margin of 3.57% and a return on equity of 16.25%. The company had revenue of $5.78 billion during the quarter, compared to analysts’ expectations of $5.19 billion. During the same quarter in the previous year, the company posted $1.54 EPS. The business’s revenue for the quarter was up 31.0% compared to the same quarter last year. On average, sell-side analysts anticipate that Quanta Services will post 7.68 earnings per share for the current year.

Quanta Services Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, April 17th. Investors of record on Tuesday, April 9th were given a $0.09 dividend. This represents a $0.36 dividend on an annualized basis and a yield of 0.13%. The ex-dividend date of this dividend was Monday, April 8th. Quanta Services’s dividend payout ratio (DPR) is currently 6.98%.

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.