Quanta Services (NYSE:PWR) Price Target Raised to $287.00 at Robert W. Baird

Quanta Services (NYSE:PWR) had its target price increased by Robert W. Baird from $265.00 to $287.00 in a research report sent to investors on Friday, Benzinga reports. They currently have an outperform rating on the construction company’s stock.

PWR has been the topic of a number of other reports. The Goldman Sachs Group increased their price objective on Quanta Services from $227.00 to $259.00 and gave the company a buy rating in a report on Monday, February 26th. Stifel Nicolaus raised their target price on Quanta Services from $237.00 to $252.00 and gave the stock a buy rating in a report on Friday, February 23rd. Evercore ISI started coverage on Quanta Services in a report on Tuesday, February 13th. They set an outperform rating and a $237.00 target price on the stock. TD Cowen raised their target price on Quanta Services from $205.00 to $270.00 and gave the stock an outperform rating in a report on Tuesday, February 27th. Finally, Truist Financial started coverage on Quanta Services in a report on Thursday, March 14th. They set a buy rating and a $301.00 target price on the stock. Three investment analysts have rated the stock with a hold rating and ten have given a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of Moderate Buy and a consensus target price of $255.85.

Quanta Services Stock Performance

Quanta Services stock traded up $1.33 during trading hours on Friday, hitting $256.33. 970,817 shares of the stock traded hands, compared to its average volume of 893,668. The firm’s 50 day moving average price is $250.69 and its 200-day moving average price is $214.43. The company has a debt-to-equity ratio of 0.50, a current ratio of 1.36 and a quick ratio of 1.44. The stock has a market capitalization of $37.52 billion, a price-to-earnings ratio of 49.68 and a beta of 1.10. Quanta Services has a 1 year low of $153.74 and a 1 year high of $265.82.

Quanta Services (NYSE:PWR) last announced its quarterly earnings data on Thursday, February 22nd. The construction company reported $2.04 earnings per share for the quarter, beating analysts’ consensus estimates 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 return on equity of 16.25% and a net margin of 3.57%. The company’s revenue was up 31.0% on a year-over-year basis. During the same period in the prior year, the company earned $1.54 earnings per share. As a group, equities analysts expect that Quanta Services will post 7.63 EPS for the current fiscal year.

Quanta Services Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, April 17th. Shareholders of record on Tuesday, April 9th were issued a $0.09 dividend. This represents a $0.36 annualized dividend and a yield of 0.14%. The ex-dividend date of this dividend was Monday, April 8th. Quanta Services’s payout ratio is currently 6.98%.

Insider Buying and Selling at Quanta Services

In other news, EVP Donald Wayne sold 595 shares of the firm’s stock in a transaction that occurred on Tuesday, March 12th. The stock was sold at an average price of $239.61, for a total value of $142,567.95. Following the transaction, the executive vice president now owns 41,954 shares in the company, valued at $10,052,597.94. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In related news, EVP Derrick A. Jensen sold 18,500 shares of Quanta Services stock in a transaction that occurred on Tuesday, February 27th. The stock was sold at an average price of $236.90, for a total transaction of $4,382,650.00. Following the transaction, the executive vice president now owns 263,725 shares in the company, valued at $62,476,452.50. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, EVP Donald Wayne sold 595 shares of Quanta Services stock in a transaction that occurred on Tuesday, March 12th. The stock was sold at an average price of $239.61, for a total value of $142,567.95. Following the transaction, the executive vice president now owns 41,954 shares in the company, valued at approximately $10,052,597.94. The disclosure for this sale can be found here. Over the last three months, insiders have sold 47,125 shares of company stock valued at $11,270,215. Company insiders own 1.10% of the company’s stock.

Hedge Funds Weigh In On Quanta Services

A number of institutional investors have recently added to or reduced their stakes in PWR. Private Ocean LLC acquired a new stake in Quanta Services during the first quarter worth $26,000. Salomon & Ludwin LLC acquired a new stake in Quanta Services during the first quarter worth $26,000. Grove Bank & Trust increased its stake in Quanta Services by 75.6% during the third quarter. Grove Bank & Trust now owns 158 shares of the construction company’s stock worth $30,000 after acquiring an additional 68 shares during the last quarter. Hazlett Burt & Watson Inc. increased its stake in Quanta Services by 47.3% during the fourth quarter. Hazlett Burt & Watson Inc. now owns 162 shares of the construction company’s stock worth $34,000 after acquiring an additional 52 shares during the last quarter. Finally, Newbridge Financial Services Group Inc. acquired a new stake in Quanta Services during the fourth quarter worth $34,000. Hedge funds and other institutional investors own 90.49% of the company’s stock.

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.