Quanta Services (NYSE:PWR) Given New $367.00 Price Target at UBS Group

Quanta Services (NYSE:PWR) had its price target increased by UBS Group from $313.00 to $367.00 in a research report report published on Wednesday morning, Benzinga reports. UBS Group currently has a buy rating on the construction company’s stock.

Several other research firms have also weighed in on PWR. Robert W. Baird boosted their target price on shares of Quanta Services from $287.00 to $288.00 and gave the company an “outperform” rating in a research note on Friday, July 19th. Jefferies Financial Group initiated coverage on shares of Quanta Services in a report on Wednesday, September 4th. They issued a “hold” rating and a $256.00 target price on the stock. Citigroup upped their target price on Quanta Services from $302.00 to $348.00 and gave the company a “buy” rating in a report on Friday, October 4th. Northland Securities raised their price target on Quanta Services from $264.00 to $280.00 and gave the stock an “outperform” rating in a report on Friday, August 2nd. Finally, Truist Financial boosted their price objective on Quanta Services from $319.00 to $358.00 and gave the company a “buy” rating in a research report on Wednesday, October 9th. Four research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $308.07.

Quanta Services Trading Down 0.5 %

NYSE:PWR opened at $308.17 on Wednesday. The stock has a market cap of $45.40 billion, a price-to-earnings ratio of 58.15 and a beta of 1.01. Quanta Services has a one year low of $153.74 and a one year high of $317.91. The company has a debt-to-equity ratio of 0.45, a quick ratio of 1.25 and a current ratio of 1.30. The business’s 50-day simple moving average is $286.43 and its 200 day simple moving average is $270.90.

Quanta Services (NYSE:PWR) last posted its quarterly earnings data on Thursday, August 1st. The construction company reported $1.90 EPS for the quarter, beating analysts’ consensus estimates of $1.75 by $0.15. Quanta Services had a net margin of 3.59% and a return on equity of 16.29%. The firm had revenue of $5.59 billion for the quarter, compared to the consensus estimate of $5.51 billion. During the same period in the prior year, the firm posted $1.47 EPS. The firm’s revenue was up 10.8% compared to the same quarter last year. As a group, sell-side analysts predict that Quanta Services will post 7.82 earnings per share for the current fiscal year.

Quanta Services Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, October 11th. Investors of record on Tuesday, October 1st were paid a dividend of $0.09 per share. The ex-dividend date of this dividend was Tuesday, October 1st. This represents a $0.36 annualized dividend and a yield of 0.12%. Quanta Services’s dividend payout ratio is currently 6.79%.

Insider Buying and Selling at Quanta Services

In related news, CEO Earl C. Jr. Austin sold 130,000 shares of the stock in a transaction that occurred on 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 completion of the sale, the chief executive officer now directly owns 593,402 shares of the company’s stock, valued at $155,595,938.42. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other Quanta Services news, CEO Earl C. Jr. Austin sold 130,000 shares of the company’s stock in a transaction on Wednesday, August 14th. The stock was sold at an average price of $262.21, for a total value 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. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Gerald A. Ducey, Jr. sold 15,000 shares of the firm’s stock in a transaction on Friday, August 9th. The stock was sold at an average price of $257.93, for a total value of $3,868,950.00. Following the sale, the insider now directly owns 21,286 shares of the company’s stock, valued at approximately $5,490,297.98. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 202,357 shares of company stock valued at $53,115,572. 1.10% of the stock is owned by insiders.

Institutional Investors Weigh In On Quanta Services

A number of large investors have recently made changes to their positions in PWR. EntryPoint Capital LLC purchased a new stake in Quanta Services in the 1st quarter worth about $25,000. Private Ocean LLC purchased a new stake in shares of Quanta Services in the first quarter worth approximately $26,000. Salomon & Ludwin LLC acquired a new stake in shares of Quanta Services during the first quarter worth approximately $26,000. Cambridge Trust Co. acquired a new position in Quanta Services in the 1st quarter valued at approximately $26,000. Finally, Valley Wealth Managers Inc. purchased a new stake in Quanta Services in the 2nd quarter worth approximately $33,000. Institutional investors and hedge funds 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.