UBS Group Raises Quanta Services (NYSE:PWR) Price Target to $367.00

Quanta Services (NYSE:PWR - Get Free Report) had its price objective upped by stock analysts at UBS Group from $313.00 to $367.00 in a note issued to investors on Wednesday, Benzinga reports. The brokerage presently has a "buy" rating on the construction company's stock. UBS Group's price target would suggest a potential upside of 19.69% from the company's previous close.

A number of other brokerages have also issued reports on PWR. B. Riley increased their price objective on shares of Quanta Services from $286.00 to $303.00 and gave the company a "buy" rating in a report on Friday, August 2nd. Wolfe Research initiated coverage on Quanta Services in a research report on Thursday, September 19th. They set an "outperform" rating and a $313.00 target price for the company. Stifel Nicolaus lifted 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. Northland Securities lifted their target price on Quanta Services from $264.00 to $280.00 and gave the company an "outperform" rating in a research note on Friday, August 2nd. Finally, JPMorgan Chase & Co. assumed coverage on Quanta Services in a research note on Monday, October 7th. They set a "neutral" rating and a $297.00 price target on the stock. Four analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. According to MarketBeat.com, Quanta Services presently has a consensus rating of "Moderate Buy" and a consensus price target of $308.07.

Quanta Services Stock Performance

Shares of NYSE PWR traded down $6.34 during midday trading on Wednesday, hitting $306.63. 940,210 shares of the company's stock traded hands, compared to its average volume of 889,727. Quanta Services has a 1 year low of $153.74 and a 1 year high of $317.91. The stock has a market capitalization of $45.18 billion, a price-to-earnings ratio of 58.04 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. The firm has a fifty day moving average of $283.89 and a 200 day moving average of $269.95.

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

Insider Transactions at Quanta Services

In other news, insider Gerald A. Ducey, Jr. sold 15,000 shares of the company's stock in a transaction that occurred on Friday, August 9th. The stock was sold at an average price of $257.93, for a total transaction of $3,868,950.00. Following the completion of the transaction, the insider now directly owns 21,286 shares of the company's stock, valued at $5,490,297.98. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. In related news, insider Karl W. Studer sold 23,357 shares of the business's stock in a transaction that occurred on Wednesday, August 21st. The stock was sold at an average price of $270.51, for a total transaction of $6,318,302.07. Following the completion of the sale, the insider now directly owns 10,631 shares in the company, valued at approximately $2,875,791.81. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Gerald A. Ducey, Jr. sold 15,000 shares of the business's stock in a transaction that occurred on Friday, August 9th. The stock was sold at an average price of $257.93, for a total value of $3,868,950.00. Following the sale, the insider now owns 21,286 shares of the company's stock, 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 valued at $53,115,572 in the last three months. 1.10% of the stock is currently owned by company insiders.

Institutional Trading of Quanta Services

Large investors have recently made changes to their positions in the company. Allen Investment Management LLC grew its holdings in Quanta Services by 1,418.0% in the 1st quarter. Allen Investment Management LLC now owns 33,396 shares of the construction company's stock valued at $8,676,000 after buying an additional 31,196 shares in the last quarter. Vanguard Group Inc. grew its holdings in Quanta Services by 0.6% in the 1st quarter. Vanguard Group Inc. now owns 16,341,230 shares of the construction company's stock valued at $4,245,452,000 after buying an additional 105,355 shares in the last quarter. Wealth Enhancement Advisory Services LLC grew its holdings in Quanta Services by 5.7% in the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 36,862 shares of the construction company's stock valued at $9,366,000 after buying an additional 1,981 shares in the last quarter. Cetera Investment Advisers grew its holdings in shares of Quanta Services by 115.0% during the 1st quarter. Cetera Investment Advisers now owns 39,274 shares of the construction company's stock worth $10,203,000 after purchasing an additional 21,003 shares during the period. Finally, Czech National Bank grew its holdings in shares of Quanta Services by 8.9% during the 2nd quarter. Czech National Bank now owns 27,827 shares of the construction company's stock worth $7,071,000 after purchasing an additional 2,264 shares during the period. 90.49% of the stock is currently owned by hedge funds and other 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.