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

Quanta Services (NYSE:PWR) had its target price upped by stock analysts at Robert W. Baird from $265.00 to $287.00 in a report released on Friday, Benzinga reports. The firm presently has an “outperform” rating on the construction company’s stock. Robert W. Baird’s price target indicates a potential upside of 12.55% from the stock’s previous close.

A number of other equities analysts have also recently weighed in on the stock. TD Cowen lifted their price target on shares of Quanta Services from $205.00 to $270.00 and gave the stock an “outperform” rating in a research report on Tuesday, February 27th. Citigroup boosted their price objective on shares of Quanta Services from $275.00 to $285.00 and gave the stock a “buy” rating in a research note on Monday, April 22nd. DA Davidson lifted 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. Stifel Nicolaus lifted their target price on shares of Quanta Services from $237.00 to $252.00 and gave the stock a “buy” rating in a report on Friday, February 23rd. Finally, Truist Financial started coverage on shares of Quanta Services in a report on Thursday, March 14th. They issued a “buy” rating and a $301.00 price objective for the company. Three investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $253.33.

Quanta Services Stock Performance

NYSE:PWR opened at $255.00 on Friday. The firm has a market capitalization of $37.33 billion, a PE ratio of 50.90 and a beta of 1.10. The firm has a 50-day moving average price of $250.25 and a 200 day moving average price of $213.88. The company has a quick ratio of 1.44, a current ratio of 1.47 and a debt-to-equity ratio of 0.58. Quanta Services has a 12-month low of $153.74 and a 12-month high of $265.82.

Quanta Services (NYSE:PWR) last posted its quarterly earnings data on Thursday, February 22nd. The construction company reported $2.04 earnings per share for the quarter, topping the consensus estimate of $1.83 by $0.21. Quanta Services had a net margin of 3.57% and a return on equity of 16.46%. The company had revenue of $5.78 billion during the quarter, compared to analyst estimates of $5.19 billion. During the same quarter last year, the business posted $1.54 earnings per share. The company’s revenue was up 31.0% on a year-over-year basis. Research analysts anticipate that Quanta Services will post 7.63 earnings per share for the current fiscal year.

Insider Activity at Quanta Services

In other news, Director Worthing Jackman sold 9,572 shares of the firm’s stock in a transaction dated 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 sale, the director now owns 7,486 shares of the company’s stock, valued at approximately $1,776,502.66. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other Quanta Services news, EVP Donald Wayne sold 1,101 shares of the firm’s stock in a transaction that occurred on Wednesday, March 27th. The shares were sold at an average price of $261.94, for a total transaction of $288,395.94. Following the sale, the executive vice president now owns 40,065 shares in the company, valued at approximately $10,494,626.10. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Worthing Jackman sold 9,572 shares of the firm’s stock in a transaction that occurred on Wednesday, February 28th. The stock was sold at an average price of $237.31, for a total transaction of $2,271,531.32. Following the sale, the director now owns 7,486 shares in the company, valued at approximately $1,776,502.66. The disclosure for this sale can be found here. Insiders sold 47,125 shares of company stock worth $11,270,215 in the last three months. 1.10% of the stock is owned by insiders.

Institutional Investors Weigh In On Quanta Services

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Artisan Partners Limited Partnership grew its holdings in Quanta Services by 384.9% during the 4th quarter. Artisan Partners Limited Partnership now owns 2,438,653 shares of the construction company’s stock valued at $526,261,000 after buying an additional 1,935,786 shares in the last quarter. Norges Bank purchased a new stake in Quanta Services during the 4th quarter valued at approximately $335,777,000. Public Employees Retirement Association of Colorado grew its holdings in Quanta Services by 20,298.9% during the 4th quarter. Public Employees Retirement Association of Colorado now owns 1,057,681 shares of the construction company’s stock valued at $228,248,000 after buying an additional 1,052,496 shares in the last quarter. Nordea Investment Management AB grew its holdings in Quanta Services by 8,297.7% during the 4th quarter. Nordea Investment Management AB now owns 912,413 shares of the construction company’s stock valued at $196,205,000 after buying an additional 901,548 shares in the last quarter. Finally, Capital World Investors grew its holdings in shares of Quanta Services by 11.6% in the fourth quarter. Capital World Investors now owns 6,000,722 shares of the construction company’s stock valued at $1,294,956,000 after purchasing an additional 624,545 shares in the last quarter. 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.