Quanta Services, Inc. (NYSE:PWR) Receives $308.07 Average Target Price from Analysts

Shares of Quanta Services, Inc. (NYSE:PWR) have earned an average rating of “Moderate Buy” from the sixteen ratings firms that are currently covering the firm, MarketBeat reports. Four equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. The average 12 month target price among brokerages that have issued ratings on the stock in the last year is $314.27.

PWR has been the subject of several research reports. Truist Financial lifted their price objective on shares of Quanta Services from $319.00 to $358.00 and gave the company a “buy” rating in a research note on Wednesday, October 9th. UBS Group boosted their target price on shares of Quanta Services from $313.00 to $367.00 and gave the company a “buy” rating in a research note on Wednesday, October 23rd. Wolfe Research began coverage on shares of Quanta Services in a research note on Thursday, September 19th. They issued an “outperform” rating and a $313.00 target price for the company. Stifel Nicolaus boosted their target price on shares of Quanta Services from $283.00 to $342.00 and gave the company a “buy” rating in a research note on Thursday, October 10th. Finally, B. Riley boosted their target price 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.

Quanta Services Trading Up 0.3 %

Shares of PWR opened at $304.32 on Thursday. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.23 and a quick ratio of 1.25. The firm has a market capitalization of $44.84 billion, a price-to-earnings ratio of 56.15 and a beta of 1.01. The company has a 50-day moving average of $290.40 and a 200 day moving average of $273.04. Quanta Services has a 1-year low of $163.93 and a 1-year high of $317.91.

Quanta Services (NYSE:PWR) last issued its quarterly earnings data on Thursday, October 31st. The construction company reported $2.72 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.46 by $0.26. The firm had revenue of $6.49 billion for the quarter, compared to the consensus estimate of $6.56 billion. Quanta Services had a net margin of 3.54% and a return on equity of 16.71%. The company’s quarterly revenue was up 15.5% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $2.08 EPS. On average, research analysts expect that Quanta Services will post 7.82 EPS for the current year.

Quanta Services Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, October 11th. Shareholders of record on Tuesday, October 1st were given a $0.09 dividend. The ex-dividend date of this dividend was Tuesday, October 1st. This represents a $0.36 dividend on an annualized basis and a yield of 0.12%. Quanta Services’s payout ratio is currently 6.64%.

Insider Buying and Selling at Quanta Services

In other Quanta Services news, insider Karl W. Studer sold 23,357 shares of the company’s stock in a transaction dated 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 owns 10,631 shares of the company’s stock, valued at $2,875,791.81. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. In other news, insider Karl W. Studer sold 23,357 shares of the stock in a transaction dated 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 sale, the insider now owns 10,631 shares of the company’s stock, valued at approximately $2,875,791.81. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Earl C. Jr. Austin sold 130,000 shares of the company’s stock in a transaction that occurred on Wednesday, August 14th. The stock was sold at an average price of $262.21, for a total transaction of $34,087,300.00. Following the sale, the chief executive officer now owns 593,402 shares in the company, valued at $155,595,938.42. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 202,357 shares of company stock valued at $53,115,572 over the last 90 days. 1.10% of the stock is owned by insiders.

Hedge Funds Weigh In On Quanta Services

Several hedge funds have recently added to or reduced their stakes in PWR. Diversified Trust Co purchased a new position in Quanta Services in the first quarter valued at approximately $328,000. Allspring Global Investments Holdings LLC grew its position in shares of Quanta Services by 57.5% during the first quarter. Allspring Global Investments Holdings LLC now owns 252,249 shares of the construction company’s stock worth $65,534,000 after acquiring an additional 92,082 shares during the last quarter. First Trust Direct Indexing L.P. grew its position in shares of Quanta Services by 31.5% during the first quarter. First Trust Direct Indexing L.P. now owns 3,114 shares of the construction company’s stock worth $809,000 after acquiring an additional 746 shares during the last quarter. Maryland State Retirement & Pension System grew its position in shares of Quanta Services by 2.8% during the first quarter. Maryland State Retirement & Pension System now owns 11,280 shares of the construction company’s stock worth $2,746,000 after acquiring an additional 305 shares during the last quarter. Finally, J.W. Cole Advisors Inc. grew its position in shares of Quanta Services by 3.5% during the first quarter. J.W. Cole Advisors Inc. now owns 4,770 shares of the construction company’s stock worth $1,239,000 after acquiring an additional 162 shares during the last quarter. 90.49% of the stock is currently owned by hedge funds and other institutional investors.

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.