Quanta Services (NYSE:PWR) PT Raised to $342.00 at Stifel Nicolaus

Quanta Services (NYSE:PWR) had its price target increased by investment analysts at Stifel Nicolaus from $283.00 to $342.00 in a research report issued to clients and investors on Thursday, Benzinga reports. The firm currently has a “buy” rating on the construction company’s stock. Stifel Nicolaus’ price objective would suggest a potential upside of 10.53% from the company’s previous close.

PWR has been the topic of a number of other research reports. Truist Financial upped their price objective on Quanta Services from $319.00 to $358.00 and gave the stock a “buy” rating in a research report on Wednesday. JPMorgan Chase & Co. assumed coverage on Quanta Services in a research report on Monday, October 7th. They issued a “neutral” rating and a $297.00 price target on the stock. Jefferies Financial Group began coverage on Quanta Services in a research report on Wednesday, September 4th. They set a “hold” rating and a $256.00 price objective for the company. B. Riley raised their target price on shares of Quanta Services from $286.00 to $303.00 and gave the company a “buy” rating in a report on Friday, August 2nd. Finally, Robert W. Baird boosted 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. Four investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to data from MarketBeat.com, Quanta Services presently has a consensus rating of “Moderate Buy” and a consensus price target of $299.93.

Quanta Services Price Performance

PWR opened at $309.42 on Thursday. The stock’s 50-day moving average price is $275.77 and its 200 day moving average price is $267.25. Quanta Services has a 12-month low of $153.74 and a 12-month high of $312.52. The firm has a market cap of $45.30 billion, a price-to-earnings ratio of 59.97 and a beta of 1.01. The company has a current ratio of 1.30, a quick ratio of 1.25 and a debt-to-equity ratio of 0.45.

Quanta Services (NYSE:PWR) last issued its quarterly earnings results on Thursday, August 1st. The construction company reported $1.90 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.75 by $0.15. The business had revenue of $5.59 billion for 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 quarterly revenue was up 10.8% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.47 earnings per share. As a group, sell-side analysts expect that Quanta Services will post 7.81 earnings per share for the current year.

Insider Activity at Quanta Services

In other Quanta Services news, COO James Redgie Probst sold 34,000 shares of Quanta Services stock in a transaction that occurred on Friday, August 9th. The stock was sold at an average price of $260.03, for a total transaction of $8,841,020.00. Following the transaction, the chief operating officer now owns 29,002 shares of the company’s stock, valued at $7,541,390.06. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. In related news, insider Karl W. Studer sold 23,357 shares of the firm’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 transaction, the insider now owns 10,631 shares of the company’s stock, valued at $2,875,791.81. This trade 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. Also, COO James Redgie Probst sold 34,000 shares of the company’s stock in a transaction that occurred on Friday, August 9th. The shares were sold at an average price of $260.03, for a total value of $8,841,020.00. Following the sale, the chief operating officer now directly owns 29,002 shares of the company’s stock, valued at approximately $7,541,390.06. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 202,357 shares of company stock valued at $53,115,572 in the last three months. 1.10% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. EntryPoint Capital LLC purchased a new position in Quanta Services in the 1st quarter valued at $25,000. Private Ocean LLC acquired a new position in shares of Quanta Services during the first quarter worth about $26,000. Salomon & Ludwin LLC purchased a new position in Quanta Services during the first quarter worth about $26,000. Cambridge Trust Co. acquired a new stake in Quanta Services in the first quarter valued at about $26,000. Finally, Valley Wealth Managers Inc. purchased a new stake in Quanta Services in the 2nd quarter valued at 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.