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

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

Several other analysts also recently issued reports on PWR. KeyCorp initiated coverage on Quanta Services in a research note on Wednesday, January 10th. They issued a sector weight rating on the stock. Citigroup boosted their target price on Quanta Services from $275.00 to $285.00 and gave the company a buy rating in a research note on Monday, April 22nd. TD Cowen lifted their price objective on shares of Quanta Services from $205.00 to $270.00 and gave the company an outperform rating in a report on Tuesday, February 27th. DA Davidson increased their target price on shares of Quanta Services from $190.00 to $225.00 and gave the stock a neutral rating in a report on Wednesday, February 28th. Finally, Truist Financial began coverage on shares of Quanta Services in a research report on Thursday, March 14th. They set a buy rating and a $301.00 price target on the stock. Three equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of Moderate Buy and a consensus target price of $256.15.

Quanta Services Trading Up 5.1 %

NYSE:PWR traded up $13.17 on Friday, reaching $269.50. The company’s stock had a trading volume of 1,381,506 shares, compared to its average volume of 939,881. The firm has a market cap of $39.45 billion, a PE ratio of 49.68 and a beta of 1.10. The company has a debt-to-equity ratio of 0.50, a quick ratio of 1.32 and a current ratio of 1.36. The business’s 50-day moving average price is $250.69 and its two-hundred day moving average price is $214.98. Quanta Services has a 1-year low of $153.74 and a 1-year high of $270.42.

Quanta Services (NYSE:PWR) last announced its earnings results 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 firm had revenue of $5.78 billion for the quarter, compared to the consensus estimate of $5.19 billion. Quanta Services had a net margin of 3.57% and a return on equity of 16.25%. The business’s quarterly revenue was up 31.0% on a year-over-year basis. During the same period last year, the company posted $1.54 EPS. Equities research analysts anticipate that Quanta Services will post 7.63 earnings per share for the current fiscal year.

Quanta Services Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, April 17th. Investors of record on Tuesday, April 9th were given a dividend of $0.09 per share. This represents a $0.36 dividend on an annualized basis and a yield of 0.13%. The ex-dividend date of this dividend was Monday, April 8th. Quanta Services’s dividend payout ratio is currently 6.98%.

Insider Buying and Selling

In other Quanta Services news, EVP Derrick A. Jensen sold 18,500 shares of the stock in a transaction dated Tuesday, February 27th. The shares were sold at an average price of $236.90, for a total transaction of $4,382,650.00. Following the sale, the executive vice president now directly owns 263,725 shares in the company, valued at $62,476,452.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In other news, EVP Derrick A. Jensen sold 18,500 shares of the business’s stock in a transaction 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 completion of the transaction, the executive vice president now owns 263,725 shares of the company’s stock, valued at approximately $62,476,452.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, EVP Donald Wayne sold 1,101 shares of Quanta Services stock in a transaction dated 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 in the company, valued at approximately $10,494,626.10. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 47,125 shares of company stock worth $11,270,215. Company insiders own 1.10% of the company’s stock.

Hedge Funds Weigh In On Quanta Services

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Truist Financial Corp increased its position in Quanta Services by 2.2% during the 4th quarter. Truist Financial Corp now owns 432,810 shares of the construction company’s stock valued at $93,400,000 after purchasing an additional 9,421 shares during the period. Carnegie Capital Asset Management LLC increased its holdings in Quanta Services by 24.5% in the fourth quarter. Carnegie Capital Asset Management LLC now owns 1,650 shares of the construction company’s stock worth $356,000 after purchasing an additional 325 shares in the last quarter. Gradient Investments LLC boosted its holdings in shares of Quanta Services by 669,187.5% during the 4th quarter. Gradient Investments LLC now owns 53,543 shares of the construction company’s stock worth $11,555,000 after buying an additional 53,535 shares in the last quarter. Saxon Interests Inc. bought a new stake in shares of Quanta Services in the 4th quarter valued at $1,352,000. Finally, Nordea Investment Management AB boosted its stake in Quanta Services by 8,297.7% during the fourth quarter. Nordea Investment Management AB now owns 912,413 shares of the construction company’s stock worth $196,205,000 after acquiring an additional 901,548 shares in the last quarter. 90.49% of the stock is currently owned by institutional investors and hedge funds.

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.