Quanta Services (NYSE:PWR) Price Target Raised to $335.00

Quanta Services (NYSE:PWR) had its price objective hoisted by TD Cowen from $280.00 to $335.00 in a research note published on Tuesday morning, Marketbeat reports. The brokerage currently has a buy rating on the construction company’s stock.

Several other analysts also recently commented on PWR. Northland Securities upped their price objective on shares of Quanta Services from $264.00 to $280.00 and gave the company an outperform rating in a report on Friday, August 2nd. JPMorgan Chase & Co. started coverage on shares of Quanta Services in a report on Monday, October 7th. They set a neutral rating and a $297.00 price target on the stock. Robert W. Baird increased their price target on shares of Quanta Services from $287.00 to $288.00 and gave the stock an outperform rating in a report on Friday, July 19th. Stifel Nicolaus increased their price target on shares of Quanta Services from $283.00 to $342.00 and gave the stock a buy rating in a report on Thursday, October 10th. Finally, Wolfe Research started coverage on shares of Quanta Services in a report on Thursday, September 19th. They set an outperform rating and a $313.00 price target on the stock. Four research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. Based on data from MarketBeat.com, Quanta Services currently has a consensus rating of Moderate Buy and an average price target of $303.86.

Quanta Services Stock Down 1.8 %

PWR stock opened at $305.48 on Tuesday. The firm’s fifty day simple moving average is $277.20 and its 200-day simple moving average is $267.72. The company has a market capitalization of $44.72 billion, a P/E ratio of 59.20 and a beta of 1.01. The company has a debt-to-equity ratio of 0.45, a current ratio of 1.30 and a quick ratio of 1.25. Quanta Services has a 12 month low of $153.74 and a 12 month high of $313.56.

Quanta Services (NYSE:PWR) last released its quarterly earnings data 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 business had revenue of $5.59 billion for the quarter, compared to the consensus estimate 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% on a year-over-year basis. During the same period in the prior year, the firm earned $1.47 EPS. As a group, equities research analysts forecast that Quanta Services will post 7.81 earnings per share for the current year.

Quanta Services Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, October 11th. Investors 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 dividend payout ratio (DPR) is 6.98%.

Insider Activity at Quanta Services

In other Quanta Services news, insider Gerald A. Ducey, Jr. sold 15,000 shares of the business’s stock in a transaction on Friday, August 9th. The shares were sold at an average price of $257.93, for a total transaction of $3,868,950.00. Following the sale, the insider now directly owns 21,286 shares in the company, valued at approximately $5,490,297.98. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, insider Gerald A. Ducey, Jr. sold 15,000 shares of the business’s stock in a transaction dated Friday, August 9th. The shares were 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 in the company, valued at $5,490,297.98. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Karl W. Studer sold 23,357 shares of the business’s stock in a transaction dated Wednesday, August 21st. The stock was sold at an average price of $270.51, for a total transaction of $6,318,302.07. Following the completion of the sale, the insider now owns 10,631 shares in the company, valued at $2,875,791.81. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 202,357 shares of company stock worth $53,115,572 in the last three months. Insiders own 1.10% of the company’s stock.

Institutional Investors Weigh In On Quanta Services

Several institutional investors and hedge funds have recently made changes to their positions in PWR. Centaurus Financial Inc. boosted its position in shares of Quanta Services by 28.9% in the 4th quarter. Centaurus Financial Inc. now owns 1,985 shares of the construction company’s stock worth $428,000 after buying an additional 445 shares in the last quarter. Wellington Management Group LLP raised its stake in Quanta Services by 581.3% in the 4th quarter. Wellington Management Group LLP now owns 117,014 shares of the construction company’s stock valued at $25,252,000 after purchasing an additional 99,840 shares during the last quarter. HighPoint Advisor Group LLC acquired a new position in Quanta Services in the 4th quarter valued at about $1,347,000. Nomura Holdings Inc. acquired a new position in Quanta Services in the 4th quarter valued at about $631,000. Finally, Newbridge Financial Services Group Inc. acquired a new position in Quanta Services in the 4th quarter valued at about $34,000. 90.49% of the stock is currently owned by hedge funds and other institutional investors.

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.