Brokerages Set Quanta Services, Inc. (NYSE:PWR) Target Price at $239.54

Quanta Services, Inc. (NYSE:PWR) has earned a consensus rating of “Moderate Buy” from the eleven ratings firms that are currently covering the stock, Marketbeat reports. Two research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. The average 12-month target price among analysts that have issued ratings on the stock in the last year is $239.54.

Several brokerages have commented on PWR. Evercore ISI assumed coverage on shares of Quanta Services in a research report on Tuesday, February 13th. They issued an “outperform” rating and a $237.00 price objective on the stock. Citigroup lifted their target price on shares of Quanta Services from $234.00 to $237.00 and gave the stock a “buy” rating in a research note on Friday, January 26th. Stifel Nicolaus lifted their target price on shares of Quanta Services from $237.00 to $252.00 and gave the stock a “buy” rating in a research note on Friday, February 23rd. KeyCorp assumed coverage on shares of Quanta Services in a research note on Wednesday, January 10th. They issued a “sector weight” rating for the company. Finally, TD Cowen lifted their target price on shares of Quanta Services from $205.00 to $270.00 and gave the stock an “outperform” rating in a research note on Tuesday, February 27th.

Insiders Place Their Bets

In other Quanta Services news, EVP Donald Wayne sold 1,101 shares of the business’s stock in a transaction that occurred on Wednesday, March 27th. The shares were sold at an average price of $261.94, for a total value of $288,395.94. Following the completion of the transaction, the executive vice president now owns 40,065 shares of the company’s stock, valued at approximately $10,494,626.10. The transaction was disclosed in a filing with the SEC, which is available through this link. In other news, Director Margaret B. Shannon sold 8,515 shares of the business’s stock in a transaction that occurred on Friday, March 1st. The shares were sold at an average price of $239.92, for a total value of $2,042,918.80. Following the completion of the sale, the director now directly owns 34,063 shares in the company, valued at approximately $8,172,394.96. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Donald Wayne sold 1,101 shares of the business’s stock in a transaction that occurred on Wednesday, March 27th. The stock was sold at an average price of $261.94, for a total transaction of $288,395.94. Following the completion of the sale, the executive vice president now owns 40,065 shares of the company’s stock, valued at $10,494,626.10. The disclosure for this sale can be found here. Insiders sold a total of 47,125 shares of company stock valued at $11,270,215 in the last quarter. Corporate insiders own 1.20% of the company’s stock.

Institutional Investors Weigh In On Quanta Services

A number of hedge funds have recently made changes to their positions in PWR. Panagora Asset Management Inc. lifted its holdings in shares of Quanta Services by 79.1% in the 1st quarter. Panagora Asset Management Inc. now owns 11,464 shares of the construction company’s stock worth $1,509,000 after acquiring an additional 5,063 shares during the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS lifted its holdings in shares of Quanta Services by 6.6% in the 1st quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 19,067 shares of the construction company’s stock worth $2,509,000 after acquiring an additional 1,181 shares during the last quarter. Great West Life Assurance Co. Can raised its holdings in Quanta Services by 2.6% during the 1st quarter. Great West Life Assurance Co. Can now owns 26,648 shares of the construction company’s stock valued at $3,655,000 after buying an additional 668 shares during the last quarter. Raymond James Trust N.A. raised its holdings in Quanta Services by 8.3% during the 1st quarter. Raymond James Trust N.A. now owns 4,949 shares of the construction company’s stock valued at $652,000 after buying an additional 379 shares during the last quarter. Finally, Blair William & Co. IL raised its holdings in Quanta Services by 21.7% during the 1st quarter. Blair William & Co. IL now owns 16,156 shares of the construction company’s stock valued at $2,126,000 after buying an additional 2,884 shares during the last quarter. 90.49% of the stock is currently owned by institutional investors.

Quanta Services Stock Performance

Shares of PWR stock opened at $245.68 on Friday. The firm has a market cap of $35.96 billion, a price-to-earnings ratio of 49.04 and a beta of 1.11. The company has a debt-to-equity ratio of 0.58, a quick ratio of 1.44 and a current ratio of 1.47. Quanta Services has a 52 week low of $153.74 and a 52 week high of $265.82. The firm’s 50-day simple moving average is $242.03 and its two-hundred day simple moving average is $208.31.

Quanta Services (NYSE:PWR) last announced its quarterly earnings data on Thursday, February 22nd. The construction company reported $2.04 EPS for the quarter, topping the consensus estimate of $1.83 by $0.21. The business had revenue of $5.78 billion for the quarter, compared to analyst estimates of $5.19 billion. Quanta Services had a net margin of 3.57% and a return on equity of 16.46%. The company’s revenue for the quarter was up 31.0% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.54 earnings per share. As a group, equities analysts forecast that Quanta Services will post 7.63 earnings per share for the current year.

Quanta Services Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, April 17th. Shareholders of record on Tuesday, April 9th were paid a $0.09 dividend. The ex-dividend date of this dividend was Monday, April 8th. This represents a $0.36 dividend on an annualized basis and a yield of 0.15%. Quanta Services’s dividend payout ratio is presently 7.19%.

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.