Quanta Services (NYSE:PWR) PT Raised to $367.00

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

A number of other equities analysts have also recently weighed in on PWR. Wolfe Research initiated coverage on shares of Quanta Services in a research note on Thursday, September 19th. They set an “outperform” rating and a $313.00 price target on the stock. Robert W. Baird upped their target price on shares of Quanta Services from $287.00 to $288.00 and gave the stock an “outperform” rating in a research report on Friday, July 19th. Truist Financial upped their price target on Quanta Services from $319.00 to $358.00 and gave the stock a “buy” rating in a report on Wednesday, October 9th. Jefferies Financial Group assumed coverage on Quanta Services in a report on Wednesday, September 4th. They issued a “hold” rating and a $256.00 price target on the stock. Finally, Stifel Nicolaus upped their target price on Quanta Services from $283.00 to $342.00 and gave the company a “buy” rating in a report on Thursday, October 10th. Four research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $308.07.

Quanta Services Stock Performance

Shares of PWR opened at $308.17 on Wednesday. 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 stock has a market capitalization of $45.40 billion, a P/E ratio of 58.15 and a beta of 1.01. The company’s fifty day moving average is $286.43 and its two-hundred day moving average is $270.90. Quanta Services has a 1 year low of $153.74 and a 1 year high of $317.91.

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 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 business had revenue of $5.59 billion for the quarter, compared to analyst estimates of $5.51 billion. During the same period in the previous year, the business posted $1.47 earnings per share. The business’s revenue was up 10.8% compared to the same quarter last year. On average, sell-side analysts predict that Quanta Services will post 7.82 earnings per share for the current year.

Quanta Services Announces Dividend

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

Insiders Place Their Bets

In other Quanta Services news, CEO Earl C. Jr. Austin sold 130,000 shares of the firm’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 of the company’s stock, valued at approximately $155,595,938.42. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Quanta Services news, CEO Earl C. Jr. Austin sold 130,000 shares of Quanta Services stock in a transaction on Wednesday, August 14th. The shares were 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 in the company, valued at $155,595,938.42. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Karl W. Studer sold 23,357 shares of Quanta Services stock in a transaction on Wednesday, August 21st. The shares were sold at an average price of $270.51, for a total value of $6,318,302.07. Following the completion of the transaction, the insider now owns 10,631 shares in the company, valued at $2,875,791.81. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 202,357 shares of company stock valued at $53,115,572. Insiders own 1.10% of the company’s stock.

Hedge Funds Weigh In On Quanta Services

Several hedge funds and other institutional investors have recently modified their holdings of PWR. Financial Advocates Investment Management lifted its position in Quanta Services by 12.5% during the third quarter. Financial Advocates Investment Management now owns 6,953 shares of the construction company’s stock valued at $2,073,000 after buying an additional 771 shares in the last quarter. First Trust Direct Indexing L.P. lifted its holdings in shares of Quanta Services by 19.9% during the 3rd quarter. First Trust Direct Indexing L.P. now owns 5,246 shares of the construction company’s stock valued at $1,564,000 after acquiring an additional 870 shares in the last quarter. WASHINGTON TRUST Co lifted its stake in shares of Quanta Services by 1.8% during the third quarter. WASHINGTON TRUST Co now owns 56,302 shares of the construction company’s stock worth $16,786,000 after purchasing an additional 1,011 shares in the last quarter. Adell Harriman & Carpenter Inc. boosted its position in shares of Quanta Services by 1.6% in the third quarter. Adell Harriman & Carpenter Inc. now owns 121,760 shares of the construction company’s stock worth $36,303,000 after buying an additional 1,973 shares during the period. Finally, Highview Capital Management LLC DE raised its holdings in shares of Quanta Services by 3.2% during the 3rd quarter. Highview Capital Management LLC DE now owns 5,218 shares of the construction company’s stock valued at $1,556,000 after buying an additional 162 shares during the period. 90.49% of the stock is owned by institutional investors and hedge funds.

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.