Quanta Services (NYSE:PWR) Given New $333.00 Price Target at Robert W. Baird

Quanta Services (NYSE:PWR) had its price target hoisted by Robert W. Baird from $320.00 to $333.00 in a research note issued to investors on Friday, Benzinga reports. The firm currently has an outperform rating on the construction company’s stock.

A number of other brokerages have also weighed in on PWR. B. Riley lifted their price objective on shares of Quanta Services from $286.00 to $303.00 and gave the stock a “buy” rating in a research report on Friday, August 2nd. UBS Group lifted their price target on Quanta Services from $313.00 to $367.00 and gave the stock a “buy” rating in a report on Wednesday, October 23rd. JPMorgan Chase & Co. initiated coverage on Quanta Services in a report on Monday, October 7th. They issued a “neutral” rating and a $297.00 price objective on the stock. Truist Financial boosted their target price on Quanta Services from $319.00 to $358.00 and gave the stock a “buy” rating in a research note on Wednesday, October 9th. Finally, Stifel Nicolaus raised their price objective 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. Four equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $314.27.

Quanta Services Stock Up 0.6 %

Shares of NYSE PWR traded up $1.87 during mid-day trading on Friday, hitting $303.50. The company had a trading volume of 913,124 shares, compared to its average volume of 661,167. Quanta Services has a 1-year low of $163.93 and a 1-year high of $317.91. The company has a market capitalization of $44.71 billion, a PE ratio of 56.00 and a beta of 1.01. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.23 and a quick ratio of 1.25. The business’s 50-day simple moving average is $290.40 and its 200 day simple moving average is $272.68.

Quanta Services (NYSE:PWR) last announced its quarterly earnings data on Thursday, October 31st. The construction company reported $2.72 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.46 by $0.26. Quanta Services had a return on equity of 16.71% and a net margin of 3.54%. The business had revenue of $6.49 billion during the quarter, compared to analysts’ expectations of $6.56 billion. During the same quarter last year, the business posted $2.08 EPS. The business’s quarterly revenue was up 15.5% compared to the same quarter last year. On average, analysts predict that Quanta Services will post 7.82 earnings per share for the current year.

Quanta Services Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, October 11th. Shareholders of record on Tuesday, October 1st were given a dividend of $0.09 per share. The ex-dividend date was Tuesday, October 1st. This represents a $0.36 dividend on an annualized basis and a yield of 0.12%. Quanta Services’s payout ratio is currently 6.64%.

Insider Transactions at Quanta Services

In related news, insider Gerald A. Ducey, Jr. sold 15,000 shares of the firm’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 completion of the sale, the insider now owns 21,286 shares in the company, valued at $5,490,297.98. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 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. Also, insider Karl W. Studer sold 23,357 shares of the stock in a transaction dated Wednesday, August 21st. The shares were sold at an average price of $270.51, for a total transaction of $6,318,302.07. Following the completion of the transaction, the insider now owns 10,631 shares of the company’s stock, valued at $2,875,791.81. This represents 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 ninety days. 1.10% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Quanta Services

Institutional investors and hedge funds have recently modified their holdings of the company. EntryPoint Capital LLC acquired a new stake in Quanta Services in the first quarter valued at $25,000. Salomon & Ludwin LLC acquired a new stake in Quanta Services in the 1st quarter valued at about $26,000. Cambridge Trust Co. purchased a new position in Quanta Services during the 1st quarter valued at about $26,000. Valley Wealth Managers Inc. acquired a new position in Quanta Services during the second quarter worth about $33,000. Finally, Quest Partners LLC purchased a new stake in shares of Quanta Services in the second quarter valued at about $35,000. 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.