Quanta Services (NYSE:PWR) PT Raised to $335.00

Quanta Services (NYSE:PWR - Get Free Report) had its target price hoisted by equities research analysts at TD Cowen from $280.00 to $335.00 in a research note issued on Tuesday, Marketbeat.com reports. The brokerage presently has a "buy" rating on the construction company's stock. TD Cowen's price objective would indicate a potential upside of 9.66% from the company's previous close.

PWR has been the subject of several other research reports. Truist Financial increased their target price on shares of Quanta Services from $319.00 to $358.00 and gave the stock a "buy" rating in a report on Wednesday, October 9th. Stifel Nicolaus raised their price objective on Quanta Services from $283.00 to $342.00 and gave the company a "buy" rating in a report on Thursday, October 10th. Robert W. Baird upped their target price on Quanta Services from $287.00 to $288.00 and gave the stock an "outperform" rating in a report on Friday, July 19th. JPMorgan Chase & Co. initiated coverage on Quanta Services in a research report on Monday, October 7th. They set a "neutral" rating and a $297.00 price target on the stock. Finally, Wolfe Research started coverage on shares of Quanta Services in a report on Thursday, September 19th. They set an "outperform" rating and a $313.00 target price on the stock. Four research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company's stock. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $303.86.

Quanta Services Stock Down 1.8 %

NYSE PWR traded down $5.50 on Tuesday, reaching $305.48. The company had a trading volume of 618,495 shares, compared to its average volume of 898,873. The company's fifty day moving average is $277.20 and its 200-day moving average is $267.72. Quanta Services has a 1-year low of $153.74 and a 1-year high of $313.56. The firm has a market capitalization of $44.72 billion, a price-to-earnings ratio of 59.21 and a beta of 1.01. 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. Quanta Services had a return on equity of 16.29% and a net margin of 3.59%. The business had revenue of $5.59 billion during the quarter, compared to the consensus estimate of $5.51 billion. During the same period last year, the company earned $1.47 earnings per share. Quanta Services's quarterly revenue was up 10.8% on a year-over-year basis. On average, research analysts forecast that Quanta Services will post 7.81 earnings per share for the current fiscal year.

Insider Transactions at Quanta Services

In other news, insider Gerald A. Ducey, Jr. sold 15,000 shares of the business's stock in a transaction dated Friday, August 9th. The shares were sold at an average price of $257.93, for a total value of $3,868,950.00. Following the completion of the sale, the insider now owns 21,286 shares of the company's stock, valued at approximately $5,490,297.98. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In other news, insider Gerald A. Ducey, Jr. sold 15,000 shares of Quanta Services stock in a transaction that occurred on Friday, August 9th. The shares were sold at an average price of $257.93, for a total value of $3,868,950.00. Following the completion of the sale, the insider now directly owns 21,286 shares in the company, valued at approximately $5,490,297.98. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Earl C. Jr. Austin sold 130,000 shares of the stock in a transaction that occurred on Wednesday, August 14th. The stock was sold at an average price of $262.21, for a total value of $34,087,300.00. Following the sale, the chief executive officer now directly owns 593,402 shares in the company, valued at $155,595,938.42. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 202,357 shares of company stock worth $53,115,572. Company insiders own 1.10% of the company's stock.

Institutional Trading of Quanta Services

A number of institutional investors and hedge funds have recently made changes to their positions in PWR. Electron Capital Partners LLC boosted its stake in Quanta Services by 395.1% in the second quarter. Electron Capital Partners LLC now owns 2,622,142 shares of the construction company's stock valued at $666,260,000 after buying an additional 2,092,519 shares in the last quarter. Swedbank AB bought a new stake in shares of Quanta Services during the 1st quarter valued at approximately $227,218,000. Capital World Investors increased its position in Quanta Services by 10.7% during the 1st quarter. Capital World Investors now owns 6,643,733 shares of the construction company's stock worth $1,726,042,000 after purchasing an additional 643,011 shares in the last quarter. American Century Companies Inc. lifted its stake in Quanta Services by 1,445.3% in the 2nd quarter. American Century Companies Inc. now owns 395,152 shares of the construction company's stock valued at $100,404,000 after purchasing an additional 369,581 shares during the last quarter. Finally, Massachusetts Financial Services Co. MA boosted its position in Quanta Services by 17.8% in the second quarter. Massachusetts Financial Services Co. MA now owns 1,235,655 shares of the construction company's stock valued at $313,968,000 after buying an additional 186,306 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.