B. Riley Raises Quanta Services (NYSE:PWR) Price Target to $286.00

Quanta Services (NYSE:PWR) had its price target boosted by B. Riley from $246.00 to $286.00 in a research report released on Friday, Benzinga reports. B. Riley currently has a buy rating on the construction company’s stock.

Several other research analysts have also recently weighed in on the company. Citigroup boosted their price target on Quanta Services from $275.00 to $285.00 and gave the stock a buy rating in a research note on Monday, April 22nd. 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 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 note on Tuesday, February 27th. The Goldman Sachs Group raised their target price on shares of Quanta Services from $227.00 to $259.00 and gave the stock a buy rating in a report on Monday, February 26th. Finally, KeyCorp assumed coverage on shares of Quanta Services in a research note on Wednesday, January 10th. They set a sector weight rating for the company. Three research analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of Moderate Buy and an average target price of $256.15.

Quanta Services Stock Up 5.1 %

Shares of NYSE PWR traded up $13.17 during trading on Friday, reaching $269.50. The company had a trading volume of 1,380,197 shares, compared to its average volume of 935,925. The stock has a market cap of $39.45 billion, a PE ratio of 49.68 and a beta of 1.10. The business’s 50-day moving average is $250.69 and its 200 day moving average is $214.98. Quanta Services has a 12-month low of $153.74 and a 12-month high of $270.42. The company has a quick ratio of 1.32, a current ratio of 1.36 and a debt-to-equity ratio of 0.50.

Quanta Services (NYSE:PWR) last issued its earnings results on Thursday, February 22nd. The construction company reported $2.04 earnings per share (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 revenue was up 31.0% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.54 earnings per share. As a group, equities analysts forecast that Quanta Services will post 7.63 earnings per share for the current fiscal year.

Quanta Services Dividend Announcement

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

Insider Activity

In other Quanta Services news, EVP Donald Wayne sold 595 shares of the stock in a transaction 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 completion of the sale, the executive vice president now owns 41,954 shares in the company, valued at approximately $10,052,597.94. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In related news, Director Worthing Jackman sold 9,572 shares of the 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 completion of the transaction, the director now directly owns 7,486 shares of the company’s stock, valued at $1,776,502.66. The sale was disclosed in a filing with the SEC, which is available 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 completion of the sale, the executive vice president now directly owns 41,954 shares in the company, valued at approximately $10,052,597.94. The disclosure for this sale can be found here. Insiders have sold 47,125 shares of company stock worth $11,270,215 in the last three months. Company insiders own 1.10% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the business. Private Ocean LLC purchased a new position in shares of Quanta Services in the 1st quarter worth $26,000. Salomon & Ludwin LLC bought a new stake in shares of Quanta Services in the 1st quarter valued at approximately $26,000. Newbridge Financial Services Group Inc. purchased a new position in shares of Quanta Services in the 4th quarter worth approximately $34,000. Grove Bank & Trust lifted its position in Quanta Services by 75.6% in the third quarter. Grove Bank & Trust now owns 158 shares of the construction company’s stock worth $30,000 after buying an additional 68 shares during the last quarter. Finally, Hazlett Burt & Watson Inc. boosted 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 buying an additional 52 shares during the period. 90.49% of the stock is owned by hedge funds and other institutional investors.

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.