Quanta Services (NYSE:PWR) PT Raised to $358.00 at Truist Financial

Quanta Services (NYSE:PWR) had its price target hoisted by investment analysts at Truist Financial from $319.00 to $358.00 in a report issued on Wednesday, Benzinga reports. The firm presently has a “buy” rating on the construction company’s stock. Truist Financial’s price target points to a potential upside of 16.47% from the stock’s previous close.

PWR has been the subject of a number of other reports. Jefferies Financial Group began coverage on Quanta Services in a research note on Wednesday, September 4th. They set a “hold” rating and a $256.00 price objective for the company. Citigroup lifted their price objective on Quanta Services from $302.00 to $348.00 and gave the stock a “buy” rating in a research note on Friday, October 4th. JPMorgan Chase & Co. began coverage on Quanta Services in a research note on Monday. They set a “neutral” rating and a $297.00 price objective for the company. Robert W. Baird lifted their price objective on Quanta Services from $287.00 to $288.00 and gave the stock an “outperform” rating in a research note on Friday, July 19th. Finally, Wolfe Research initiated coverage on Quanta Services in a research note on Thursday, September 19th. They issued an “outperform” rating and a $313.00 target price for the company. Four analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $293.50.

Quanta Services Price Performance

Shares of NYSE PWR traded down $1.29 during trading on Wednesday, reaching $307.38. The company had a trading volume of 180,403 shares, compared to its average volume of 905,122. Quanta Services has a 52 week low of $153.74 and a 52 week high of $312.52. The stock has a market cap of $45.00 billion, a PE ratio of 59.57 and a beta of 1.01. 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 moving average price is $272.51 and its 200-day moving average price is $266.31.

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

Insider Activity

In other news, CEO Earl C. Jr. Austin sold 130,000 shares of the business’s stock in a transaction dated 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 sale, the chief executive officer now directly 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 sale was disclosed in a document filed with the SEC, which is available at the SEC website. In related news, insider Karl W. Studer sold 23,357 shares of the company’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 sale, the insider now owns 10,631 shares in the company, valued at approximately $2,875,791.81. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO Earl C. Jr. Austin sold 130,000 shares of the company’s stock in a transaction dated 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 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 position. 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 over the last three months. Corporate insiders own 1.10% of the company’s stock.

Institutional Trading of Quanta Services

Several institutional investors and hedge funds have recently bought and sold shares of PWR. EP Wealth Advisors LLC raised its stake in Quanta Services by 0.6% in the second quarter. EP Wealth Advisors LLC now owns 6,994 shares of the construction company’s stock valued at $1,777,000 after buying an additional 39 shares during the period. Westside Investment Management Inc. raised its stake in Quanta Services by 20.5% in the second quarter. Westside Investment Management Inc. now owns 241 shares of the construction company’s stock valued at $61,000 after buying an additional 41 shares during the period. Ameritas Advisory Services LLC raised its stake in Quanta Services by 5.0% in the second quarter. Ameritas Advisory Services LLC now owns 876 shares of the construction company’s stock valued at $223,000 after buying an additional 42 shares during the period. Aspen Investment Management Inc raised its stake in Quanta Services by 3.7% in the second quarter. Aspen Investment Management Inc now owns 1,254 shares of the construction company’s stock valued at $319,000 after buying an additional 45 shares during the period. Finally, Terra Nova Asset Management LLC raised its stake in Quanta Services by 0.4% in the second quarter. Terra Nova Asset Management LLC now owns 12,741 shares of the construction company’s stock valued at $3,237,000 after buying an additional 46 shares during the period. Institutional investors 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.