Quanta Services (NYSE:PWR) Price Target Cut to $506.00 by Analysts at Jefferies Financial Group

Quanta Services (NYSE:PWR) had its target price lowered by Jefferies Financial Group from $517.00 to $506.00 in a research report released on Tuesday morning,MarketScreener reports. The firm currently has a buy rating on the construction company’s stock.

A number of other equities research analysts have also recently commented on the stock. Mizuho set a $415.00 price objective on shares of Quanta Services in a research note on Tuesday, October 28th. Evercore ISI lifted their price objective on shares of Quanta Services from $410.00 to $480.00 and gave the company an “outperform” rating in a report on Friday, October 31st. Weiss Ratings raised shares of Quanta Services from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Monday. Robert W. Baird set a $490.00 price target on Quanta Services in a report on Friday, October 31st. Finally, Sanford C. Bernstein lowered their price target on Quanta Services from $432.00 to $428.00 and set a “market perform” rating on the stock in a research report on Friday, December 19th. Fourteen equities research analysts have rated the stock with a Buy rating and ten have issued a Hold rating to the stock. Based on data from MarketBeat, Quanta Services presently has an average rating of “Moderate Buy” and a consensus target price of $449.57.

Quanta Services Stock Performance

NYSE:PWR traded up $10.21 during mid-day trading on Tuesday, hitting $447.28. The company’s stock had a trading volume of 784,718 shares, compared to its average volume of 930,010. The business’s fifty day moving average is $440.57 and its two-hundred day moving average is $415.11. The stock has a market cap of $66.70 billion, a price-to-earnings ratio of 66.26, a PEG ratio of 2.15 and a beta of 1.16. The company has a debt-to-equity ratio of 0.66, a current ratio of 1.34 and a quick ratio of 1.30. Quanta Services has a 1 year low of $227.08 and a 1 year high of $473.99.

Quanta Services (NYSE:PWR) last issued its quarterly earnings data on Thursday, October 30th. The construction company reported $3.33 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.24 by $0.09. Quanta Services had a return on equity of 18.74% and a net margin of 3.74%.The business had revenue of $7.63 billion during the quarter, compared to analysts’ expectations of $7.41 billion. During the same quarter in the previous year, the firm posted $2.72 EPS. The company’s revenue for the quarter was up 17.5% on a year-over-year basis. Quanta Services has set its FY 2025 guidance at 10.330-10.830 EPS. Analysts anticipate that Quanta Services will post 9.34 EPS for the current fiscal year.

Insider Transactions at Quanta Services

In other Quanta Services news, insider Gerald A. Ducey, Jr. sold 7,653 shares of the firm’s stock in a transaction on Thursday, November 6th. The stock was sold at an average price of $446.08, for a total value of $3,413,850.24. Following the transaction, the insider owned 19,960 shares in the company, valued at approximately $8,903,756.80. This trade represents a 27.72% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Worthing Jackman sold 6,349 shares of the stock in a transaction dated Wednesday, November 5th. The shares were sold at an average price of $450.45, for a total transaction of $2,859,907.05. Following the completion of the sale, the director owned 2,730 shares of the company’s stock, valued at $1,229,728.50. This trade represents a 69.93% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders sold 32,002 shares of company stock valued at $14,295,857. Insiders own 1.10% of the company’s stock.

Institutional Investors Weigh In On Quanta Services

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Copia Wealth Management increased its stake in shares of Quanta Services by 509.1% in the 2nd quarter. Copia Wealth Management now owns 67 shares of the construction company’s stock worth $25,000 after acquiring an additional 56 shares during the last quarter. SOA Wealth Advisors LLC. grew its holdings in shares of Quanta Services by 159.3% in the second quarter. SOA Wealth Advisors LLC. now owns 70 shares of the construction company’s stock valued at $26,000 after purchasing an additional 43 shares during the period. Darwin Wealth Management LLC acquired a new stake in Quanta Services during the second quarter worth about $26,000. Activest Wealth Management raised its stake in Quanta Services by 94.1% during the third quarter. Activest Wealth Management now owns 66 shares of the construction company’s stock worth $27,000 after purchasing an additional 32 shares during the period. Finally, Solstein Capital LLC boosted its holdings in Quanta Services by 185.7% in the 2nd quarter. Solstein Capital LLC now owns 80 shares of the construction company’s stock valued at $30,000 after purchasing an additional 52 shares during the last quarter. Institutional investors and hedge funds own 90.49% of the company’s stock.

Quanta Services Company Profile

Quanta Services, Inc is a leading specialty contractor that provides comprehensive infrastructure solutions for the electric power, pipeline and energy, and communications markets. Headquartered in Houston, Texas, the company delivers engineering, procurement, construction, installation, maintenance and repair services that support the development, modernization and ongoing operation of critical energy and communications networks.

In the electric power sector, Quanta works on transmission and distribution systems, substation construction and grid modernization projects that include integration of renewable generation and energy storage.