Quanta Services, Inc. (NYSE:PWR) Receives $308.07 Average PT from Analysts

Quanta Services, Inc. (NYSE:PWR) has been given a consensus rating of “Moderate Buy” by the sixteen analysts that are currently covering the stock, MarketBeat reports. Four equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. The average 1-year price objective among analysts that have issued a report on the stock in the last year is $314.27.

PWR has been the topic of a number of recent research reports. B. Riley raised their price objective on shares of Quanta Services from $286.00 to $303.00 and gave the company a “buy” rating in a research note on Friday, August 2nd. Northland Securities reaffirmed an “outperform” rating and set a $328.00 price objective (up from $280.00) on shares of Quanta Services in a research note on Friday, November 1st. Robert W. Baird increased their target price on Quanta Services from $320.00 to $333.00 and gave the company an “outperform” rating in a research note on Friday, November 1st. 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 report on Wednesday, October 9th. Finally, Citigroup increased their price target on shares of Quanta Services from $302.00 to $348.00 and gave the company a “buy” rating in a research report on Friday, October 4th.

Quanta Services Stock Down 1.2 %

NYSE:PWR opened at $310.82 on Thursday. The stock’s fifty day moving average price is $292.81 and its two-hundred day moving average price is $274.22. The company has a market cap of $45.88 billion, a price-to-earnings ratio of 57.35 and a beta of 1.01. Quanta Services has a 52-week low of $163.93 and a 52-week high of $317.91. The company has a debt-to-equity ratio of 0.58, a quick ratio of 1.19 and a current ratio of 1.23.

Quanta Services (NYSE:PWR) last posted its quarterly earnings results 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. The business had revenue of $6.49 billion for the quarter, compared to analysts’ expectations of $6.56 billion. Quanta Services had a return on equity of 16.71% and a net margin of 3.54%. The firm’s quarterly revenue was up 15.5% compared to the same quarter last year. During the same quarter last year, the business earned $2.08 earnings per share. On average, analysts anticipate that Quanta Services will post 7.83 EPS for the current year.

Quanta Services Announces Dividend

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

Insiders Place Their Bets

In other 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 completion of the transaction, the insider now directly owns 10,631 shares of the company’s stock, valued at $2,875,791.81. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, CEO Earl C. Jr. Austin sold 130,000 shares of the stock in a transaction on Wednesday, August 14th. The shares were sold at an average price of $262.21, for a total transaction of $34,087,300.00. Following the completion of the transaction, the chief executive officer now owns 593,402 shares in the company, valued at approximately $155,595,938.42. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 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 transaction of $6,318,302.07. Following the completion of the sale, 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 ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 202,357 shares of company stock worth $53,115,572. Corporate insiders own 1.10% of the company’s stock.

Hedge Funds Weigh In On Quanta Services

Several hedge funds have recently modified their holdings of PWR. EntryPoint Capital LLC bought a new position in Quanta Services in the first quarter valued at approximately $25,000. Salomon & Ludwin LLC bought a new position in shares of Quanta Services in the first quarter valued at $26,000. Cambridge Trust Co. acquired a new position in Quanta Services during the first quarter worth $26,000. Valley Wealth Managers Inc. acquired a new stake in Quanta Services in the second quarter valued at $33,000. Finally, Quest Partners LLC bought a new position in shares of Quanta Services in the 2nd quarter valued at about $35,000. Institutional investors 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.