Quanta Services, Inc. (NYSE:PWR) Receives $239.54 Consensus PT from Brokerages

Shares of Quanta Services, Inc. (NYSE:PWR) have been assigned an average rating of “Moderate Buy” from the eleven analysts that are presently covering the company, MarketBeat reports. Two research analysts have rated the stock with a hold rating and nine have given a buy rating to the company. The average 12 month price target among brokerages that have covered the stock in the last year is $239.54.

PWR has been the subject of a number of recent analyst reports. The Goldman Sachs Group raised their price objective on shares of Quanta Services from $227.00 to $259.00 and gave the stock a “buy” rating in a research note on Monday, February 26th. DA Davidson lifted their target price on shares of Quanta Services from $190.00 to $225.00 and gave the company a “neutral” rating in a research note on Wednesday, February 28th. Citigroup lifted their target price on shares of Quanta Services from $234.00 to $237.00 and gave the company a “buy” rating in a research note on Friday, January 26th. Evercore ISI started coverage on shares of Quanta Services in a research note on Tuesday, February 13th. They set an “outperform” rating and a $237.00 target price for the company. Finally, Truist Financial started coverage on shares of Quanta Services in a research note on Thursday, March 14th. They set a “buy” rating and a $301.00 target price for the company.

Quanta Services Trading Up 1.4 %

Shares of NYSE:PWR opened at $259.19 on Wednesday. The stock has a market capitalization of $37.78 billion, a price-to-earnings ratio of 51.73 and a beta of 1.10. Quanta Services has a 1-year low of $153.74 and a 1-year high of $260.60. The company has a debt-to-equity ratio of 0.58, a quick ratio of 1.44 and a current ratio of 1.47. The company has a 50 day moving average price of $223.14 and a 200 day moving average price of $201.11.

Quanta Services (NYSE:PWR) last issued its earnings results on Thursday, February 22nd. The construction company reported $2.04 earnings per share for the quarter, topping analysts’ consensus estimates of $1.83 by $0.21. The firm had revenue of $5.78 billion during the quarter, compared to analysts’ expectations of $5.19 billion. Quanta Services had a net margin of 3.57% and a return on equity of 16.46%. The firm’s revenue for the quarter was up 31.0% compared to the same quarter last year. During the same period last year, the firm posted $1.54 earnings per share. On average, research analysts anticipate that Quanta Services will post 7.63 EPS for the current fiscal year.

Insider Buying and Selling

In related news, Director Worthing Jackman sold 9,572 shares of the business’s stock in a transaction that occurred on Wednesday, February 28th. The shares were sold at an average price of $237.31, for a total transaction of $2,271,531.32. Following the completion of the sale, the director now directly owns 7,486 shares of the company’s stock, valued at $1,776,502.66. The transaction was disclosed in a legal filing with the SEC, which is available at this link. In other news, EVP Derrick A. Jensen sold 18,500 shares of the company’s stock in a transaction that occurred on Tuesday, February 27th. The shares were sold at an average price of $236.90, for a total value of $4,382,650.00. Following the completion of the transaction, the executive vice president now owns 263,725 shares in the company, valued at $62,476,452.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Worthing Jackman sold 9,572 shares of the company’s stock in a transaction that occurred on Wednesday, February 28th. The shares were sold at an average price of $237.31, for a total transaction of $2,271,531.32. Following the completion of the transaction, the director now owns 7,486 shares of the company’s stock, valued at approximately $1,776,502.66. The disclosure for this sale can be found here. Insiders sold a total of 46,024 shares of company stock valued at $10,981,819 over the last ninety days. Insiders own 1.30% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in the business. Grove Bank & Trust grew its position in shares of Quanta Services by 75.6% in the 3rd quarter. Grove Bank & Trust now owns 158 shares of the construction company’s stock valued at $30,000 after acquiring an additional 68 shares during the period. Perkins Coie Trust Co bought a new position in shares of Quanta Services in the 3rd quarter valued at about $30,000. Hazlett Burt & Watson Inc. grew its position in shares of Quanta Services by 47.3% in the 4th quarter. Hazlett Burt & Watson Inc. now owns 162 shares of the construction company’s stock valued at $34,000 after acquiring an additional 52 shares during the period. VisionPoint Advisory Group LLC bought a new position in shares of Quanta Services in the 2nd quarter valued at about $33,000. Finally, ICA Group Wealth Management LLC acquired a new stake in shares of Quanta Services during the 4th quarter worth about $26,000. Institutional investors and hedge funds 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.