Quanta Services (NYSE:PWR) Price Target Raised to $342.00

Quanta Services (NYSE:PWR - Free Report) had its price target lifted by Stifel Nicolaus from $283.00 to $342.00 in a report issued on Thursday, Benzinga reports. Stifel Nicolaus currently has a buy rating on the construction company's stock.

Other research analysts also recently issued research reports about the company. TD Cowen increased their price target on Quanta Services from $270.00 to $280.00 and gave the stock a buy rating in a research note on Thursday, August 8th. Citigroup increased their target price on shares of Quanta Services from $302.00 to $348.00 and gave the stock a buy rating in a research report on Friday, October 4th. JPMorgan Chase & Co. started coverage on shares of Quanta Services in a research report on Monday. They issued a neutral rating and a $297.00 price target on the stock. B. Riley lifted their price objective on shares of Quanta Services from $286.00 to $303.00 and gave the company a buy rating in a research note on Friday, August 2nd. Finally, Truist Financial increased their target price on Quanta Services from $319.00 to $358.00 and gave the stock a buy rating in a research report on Wednesday. Four equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of Moderate Buy and a consensus target price of $299.93.

Quanta Services Stock Performance

NYSE:PWR traded down $0.62 during trading on Thursday, reaching $306.99. The company's stock had a trading volume of 594,525 shares, compared to its average volume of 905,587. Quanta Services has a 12 month low of $153.74 and a 12 month high of $312.52. The firm has a market cap of $44.94 billion, a price-to-earnings ratio of 59.06 and a beta of 1.01. The firm has a 50 day moving average of $273.36 and a 200-day moving average of $266.60. The company has a debt-to-equity ratio of 0.45, a quick ratio of 1.25 and a current ratio of 1.30.

Quanta Services (NYSE:PWR - Get Free Report) last posted its quarterly earnings data on Thursday, August 1st. The construction company reported $1.90 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.75 by $0.15. The business had revenue of $5.59 billion during the quarter, compared to the consensus estimate of $5.51 billion. Quanta Services had a net margin of 3.59% and a return on equity of 16.29%. The firm's quarterly revenue was up 10.8% compared to the same quarter last year. During the same quarter last year, the company posted $1.47 earnings per share. Research analysts expect that Quanta Services will post 7.82 EPS for the current fiscal year.

Quanta Services Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, October 11th. Investors of record on Tuesday, October 1st will be given a $0.09 dividend. This represents a $0.36 annualized dividend and a dividend yield of 0.12%. The ex-dividend date is Tuesday, October 1st. Quanta Services's dividend payout ratio (DPR) is 6.98%.

Insider Buying and Selling at Quanta Services

In other news, COO James Redgie Probst sold 34,000 shares of the stock in a transaction on Friday, August 9th. The shares were sold at an average price of $260.03, for a total value of $8,841,020.00. Following the transaction, the chief operating officer now owns 29,002 shares of the company's stock, valued at $7,541,390.06. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In related news, COO James Redgie Probst sold 34,000 shares of the business's stock in a transaction that occurred on Friday, August 9th. The stock was sold at an average price of $260.03, for a total value of $8,841,020.00. Following the completion of the sale, the chief operating officer now owns 29,002 shares in the company, valued at $7,541,390.06. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Gerald A. Ducey, Jr. sold 15,000 shares of the stock in a transaction that occurred on Friday, August 9th. The shares were sold at an average price of $257.93, for a total transaction of $3,868,950.00. Following the transaction, the insider now owns 21,286 shares in the company, valued at $5,490,297.98. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 202,357 shares of company stock worth $53,115,572 over the last three months. 1.10% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of the stock. EP Wealth Advisors LLC boosted its holdings in Quanta Services by 0.6% during the 2nd quarter. EP Wealth Advisors LLC now owns 6,994 shares of the construction company's stock valued at $1,777,000 after acquiring an additional 39 shares during the period. Westside Investment Management Inc. boosted its stake in shares of Quanta Services by 20.5% during the second quarter. Westside Investment Management Inc. now owns 241 shares of the construction company's stock valued at $61,000 after purchasing an additional 41 shares during the period. Ameritas Advisory Services LLC grew its holdings in shares of Quanta Services by 5.0% in the second quarter. Ameritas Advisory Services LLC now owns 876 shares of the construction company's stock worth $223,000 after purchasing an additional 42 shares during the last quarter. Aspen Investment Management Inc raised its holdings in Quanta Services by 3.7% during the 2nd quarter. Aspen Investment Management Inc now owns 1,254 shares of the construction company's stock valued at $319,000 after buying an additional 45 shares during the last quarter. Finally, Terra Nova Asset Management LLC boosted its position in Quanta Services by 0.4% during the 2nd quarter. Terra Nova Asset Management LLC now owns 12,741 shares of the construction company's stock valued at $3,237,000 after buying an additional 46 shares during the period. 90.49% of the stock is owned by institutional investors.

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.