Quanta Services, Inc. (NYSE:PWR) Receives Average Rating of “Moderate Buy” from Brokerages

Quanta Services, Inc. (NYSE:PWR) has been assigned a consensus rating of “Moderate Buy” from the twenty ratings firms that are presently covering the company, MarketBeat.com reports. Seven investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. The average 1-year price target among brokerages that have issued a report on the stock in the last year is $462.00.

A number of analysts have recently commented on the company. Cantor Fitzgerald assumed coverage on Quanta Services in a report on Friday, January 23rd. They set an “overweight” rating and a $520.00 price objective for the company. Jefferies Financial Group cut their price objective on Quanta Services from $517.00 to $506.00 and set a “buy” rating on the stock in a report on Tuesday, January 13th. Sanford C. Bernstein decreased their target price on Quanta Services from $432.00 to $428.00 and set a “market perform” rating for the company in a report on Friday, December 19th. Evercore ISI raised their price target on shares of Quanta Services from $410.00 to $480.00 and gave the company an “outperform” rating in a report on Friday, October 31st. Finally, Robert W. Baird set a $490.00 price objective on shares of Quanta Services in a research note on Friday, October 31st.

Insider Buying and Selling at Quanta Services

In related news, Director Worthing Jackman sold 6,349 shares of the firm’s stock in a transaction dated Wednesday, November 5th. The stock was sold at an average price of $450.45, for a total transaction of $2,859,907.05. Following the sale, the director directly owned 2,730 shares in the company, valued at approximately $1,229,728.50. This trade represents a 69.93% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Bernard Fried sold 4,000 shares of the business’s stock in a transaction that occurred on Monday, November 3rd. The stock was sold at an average price of $452.19, for a total value of $1,808,760.00. Following the transaction, the director directly owned 12,493 shares in the company, valued at $5,649,209.67. This trade represents a 24.25% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 32,002 shares of company stock valued at $14,295,857 in the last quarter. Company insiders own 1.10% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the company. Brighton Jones LLC purchased a new stake in Quanta Services during the 4th quarter worth $298,000. Woodline Partners LP lifted its stake in shares of Quanta Services by 40.7% in the first quarter. Woodline Partners LP now owns 12,471 shares of the construction company’s stock worth $3,170,000 after acquiring an additional 3,606 shares in the last quarter. Fifth Third Bancorp boosted its holdings in Quanta Services by 9.5% in the second quarter. Fifth Third Bancorp now owns 6,011 shares of the construction company’s stock valued at $2,273,000 after purchasing an additional 520 shares during the last quarter. Accurate Wealth Management LLC acquired a new stake in Quanta Services during the 2nd quarter valued at approximately $208,000. Finally, TD Private Client Wealth LLC purchased a new stake in Quanta Services during the 2nd quarter worth approximately $459,000. 90.49% of the stock is owned by institutional investors and hedge funds.

Quanta Services Stock Up 0.5%

PWR opened at $481.55 on Friday. Quanta Services has a 12 month low of $227.08 and a 12 month high of $487.00. The business has a 50-day moving average of $446.21 and a two-hundred day moving average of $421.27. The company has a debt-to-equity ratio of 0.66, a current ratio of 1.34 and a quick ratio of 1.30. The stock has a market capitalization of $71.81 billion, a price-to-earnings ratio of 71.34, a price-to-earnings-growth ratio of 2.32 and a beta of 1.16.

Quanta Services (NYSE:PWR) last released its earnings results on Thursday, October 30th. The construction company reported $3.33 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.24 by $0.09. The business had revenue of $7.63 billion for the quarter, compared to analysts’ expectations of $7.41 billion. Quanta Services had a net margin of 3.74% and a return on equity of 18.74%. The company’s quarterly revenue was up 17.5% on a year-over-year basis. During the same period last year, the company earned $2.72 earnings per share. On average, research analysts expect that Quanta Services will post 9.34 earnings per share for the current year.

About Quanta Services

Quanta Services, Inc is a leading specialty contractor that provides comprehensive infrastructure solutions for the electric power, pipeline and energy, and communications markets. Headquartered in Houston, Texas, the company delivers engineering, procurement, construction, installation, maintenance and repair services that support the development, modernization and ongoing operation of critical energy and communications networks.

In the electric power sector, Quanta works on transmission and distribution systems, substation construction and grid modernization projects that include integration of renewable generation and energy storage.