Quanta Services (NYSE:PWR) PT Raised to $286.00 at B. Riley

Quanta Services (NYSE:PWR) had its target price boosted by stock analysts at B. Riley from $246.00 to $286.00 in a research note issued to investors on Friday, Benzinga reports. The firm presently has a “buy” rating on the construction company’s stock. B. Riley’s target price indicates a potential upside of 11.57% from the stock’s previous close.

Several other equities analysts have also weighed in on PWR. DA Davidson raised their target price on Quanta Services from $190.00 to $225.00 and gave the company a “neutral” rating in a report on Wednesday, February 28th. Evercore ISI assumed coverage on Quanta Services in a research report on Tuesday, February 13th. They set an “outperform” rating and a $237.00 price objective for the company. Citigroup upped their target price on shares of Quanta Services from $275.00 to $285.00 and gave the company a “buy” rating in a research note on Monday, April 22nd. Truist Financial started coverage on Quanta Services in a research note on Thursday, March 14th. They set a “buy” rating and a $301.00 price target on the stock. Finally, TD Cowen raised their target price on Quanta Services from $205.00 to $270.00 and gave the stock an “outperform” rating in a research report on Tuesday, February 27th. Three analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $255.85.

Quanta Services Price Performance

Shares of NYSE PWR traded up $1.33 during trading on Friday, hitting $256.33. The company had a trading volume of 969,251 shares, compared to its average volume of 934,760. The company has a debt-to-equity ratio of 0.58, a quick ratio of 1.44 and a current ratio of 1.47. Quanta Services has a 52 week low of $153.74 and a 52 week high of $265.82. The company has a market cap of $37.52 billion, a P/E ratio of 51.16 and a beta of 1.10. The business’s 50-day moving average is $250.69 and its 200 day moving average is $214.43.

Quanta Services (NYSE:PWR) last released its quarterly earnings data on Thursday, February 22nd. The construction company reported $2.04 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.83 by $0.21. Quanta Services had a return on equity of 16.46% and a net margin of 3.57%. The firm had revenue of $5.78 billion during the quarter, compared to analysts’ expectations of $5.19 billion. During the same quarter last year, the firm earned $1.54 earnings per share. The business’s revenue for the quarter was up 31.0% on a year-over-year basis. Equities research analysts predict that Quanta Services will post 7.63 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, EVP Donald Wayne sold 1,101 shares of the firm’s stock in a transaction on Wednesday, March 27th. The stock was sold at an average price of $261.94, for a total value of $288,395.94. Following the transaction, the executive vice president now owns 40,065 shares in the company, valued at $10,494,626.10. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Quanta Services news, EVP Derrick A. Jensen sold 18,500 shares of the business’s stock in a transaction that occurred on 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 sale, the executive vice president now directly owns 263,725 shares of the company’s stock, valued at approximately $62,476,452.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Donald Wayne sold 1,101 shares of the stock in a transaction dated Wednesday, March 27th. The shares were sold at an average price of $261.94, for a total value of $288,395.94. Following the completion of the sale, the executive vice president now directly owns 40,065 shares of the company’s stock, valued at approximately $10,494,626.10. The disclosure for this sale can be found here. In the last three months, insiders have sold 47,125 shares of company stock valued at $11,270,215. 1.10% of the stock is owned by insiders.

Institutional Trading of Quanta Services

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Artisan Partners Limited Partnership boosted its holdings in Quanta Services by 384.9% in the fourth quarter. Artisan Partners Limited Partnership now owns 2,438,653 shares of the construction company’s stock worth $526,261,000 after acquiring an additional 1,935,786 shares in the last quarter. Norges Bank bought a new position in shares of Quanta Services in the 4th quarter worth $335,777,000. Public Employees Retirement Association of Colorado grew its position in Quanta Services by 20,298.9% in the 4th quarter. Public Employees Retirement Association of Colorado now owns 1,057,681 shares of the construction company’s stock valued at $228,248,000 after purchasing an additional 1,052,496 shares during the period. Nordea Investment Management AB increased its stake in Quanta Services by 8,297.7% during the 4th quarter. Nordea Investment Management AB now owns 912,413 shares of the construction company’s stock valued at $196,205,000 after purchasing an additional 901,548 shares in the last quarter. Finally, Capital World Investors lifted its position in shares of Quanta Services by 11.6% during the fourth quarter. Capital World Investors now owns 6,000,722 shares of the construction company’s stock valued at $1,294,956,000 after purchasing an additional 624,545 shares in the last quarter. Institutional investors and hedge funds own 90.49% of the company’s stock.

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.