Jefferies Financial Group Begins Coverage on Quanta Services (NYSE:PWR)

Jefferies Financial Group started coverage on shares of Quanta Services (NYSE:PWR) in a report released on Wednesday morning, Marketbeat reports. The firm issued a hold rating and a $256.00 price objective on the construction company’s stock.

Several other equities analysts have also recently commented on the stock. TD Cowen boosted their target price on shares of Quanta Services from $270.00 to $280.00 and gave the company a buy rating in a research report on Thursday, August 8th. Northland Securities boosted their target price on shares of Quanta Services from $264.00 to $280.00 and gave the stock an outperform rating in a report on Friday, August 2nd. B. Riley upped their price objective on shares of Quanta Services from $286.00 to $303.00 and gave the company a buy rating in a research note on Friday, August 2nd. Argus boosted their target price on shares of Quanta Services from $285.00 to $310.00 and gave the company a buy rating in a research report on Thursday, May 30th. Finally, The Goldman Sachs Group boosted their target price on shares of Quanta Services from $259.00 to $286.00 and gave the company a buy rating in a research report on Tuesday, May 28th. Four investment analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of Moderate Buy and a consensus price target of $284.50.

Quanta Services Price Performance

Shares of Quanta Services stock opened at $247.90 on Wednesday. Quanta Services has a twelve month low of $153.74 and a twelve month high of $286.87. The company has a quick ratio of 1.25, a current ratio of 1.30 and a debt-to-equity ratio of 0.45. The company has a 50-day simple moving average of $259.33 and a two-hundred day simple moving average of $258.84. The stock has a market capitalization of $36.52 billion, a price-to-earnings ratio of 48.04 and a beta of 1.01.

Quanta Services (NYSE:PWR) last issued its earnings results on Thursday, August 1st. The construction company reported $1.90 EPS for the quarter, beating the consensus estimate of $1.75 by $0.15. The company had revenue of $5.59 billion during 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 for the quarter was up 10.8% compared to the same quarter last year. During the same period in the previous year, the company earned $1.47 EPS. Analysts forecast that Quanta Services will post 7.78 EPS for the current year.

Quanta Services Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, October 11th. Shareholders of record on Tuesday, October 1st will be issued a dividend of $0.09 per share. The ex-dividend date is Tuesday, October 1st. This represents a $0.36 annualized dividend and a yield of 0.15%. Quanta Services’s payout ratio is 6.98%.

Insider Transactions at Quanta Services

In other news, insider Karl W. Studer sold 23,357 shares of the company’s 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 completion of the sale, the insider now owns 10,631 shares in the company, valued at approximately $2,875,791.81. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other news, insider Karl W. Studer sold 23,357 shares of the company’s 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 completion of the sale, the insider now owns 10,631 shares in the company, valued at approximately $2,875,791.81. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Earl C. Jr. Austin sold 130,000 shares of the stock in a transaction dated Wednesday, August 14th. The shares were sold at an average price of $262.21, for a total transaction of $34,087,300.00. Following the transaction, the chief executive officer now owns 593,402 shares of the company’s stock, valued at approximately $155,595,938.42. The disclosure for this sale can be found here. Insiders sold a total of 202,357 shares of company stock worth $53,115,572 in the last quarter. 1.10% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Quanta Services

Several institutional investors have recently added to or reduced their stakes in PWR. EntryPoint Capital LLC bought a new position in Quanta Services during the first quarter worth about $25,000. Private Ocean LLC bought a new position in Quanta Services during the first quarter worth about $26,000. Salomon & Ludwin LLC bought a new position in Quanta Services during the first quarter worth about $26,000. Cambridge Trust Co. purchased a new stake in shares of Quanta Services in the first quarter worth about $26,000. Finally, Valley Wealth Managers Inc. purchased a new stake in shares of Quanta Services in the second quarter worth about $33,000. Institutional investors own 90.49% of the company’s stock.

Quanta Services Company Profile

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.