Northland Securities Reaffirms Outperform Rating for Quanta Services (NYSE:PWR)

Quanta Services (NYSE:PWR - Get Free Report)'s stock had its "outperform" rating reissued by equities researchers at Northland Securities in a research note issued on Friday, Benzinga reports. They presently have a $328.00 target price on the construction company's stock, up from their previous target price of $280.00. Northland Securities' price target would suggest a potential upside of 8.07% from the company's previous close.

PWR has been the topic of a number of other research reports. Robert W. Baird raised their price objective on shares of Quanta Services from $320.00 to $333.00 and gave the stock an "outperform" rating in a research note on Friday. TD Cowen lifted their price objective on shares of Quanta Services from $280.00 to $335.00 and gave the company a "buy" rating in a report on Tuesday, October 15th. 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 note on Friday, October 4th. UBS Group lifted their price target on Quanta Services from $313.00 to $367.00 and gave the company a "buy" rating in a research note on Wednesday, October 23rd. Finally, Jefferies Financial Group assumed coverage on Quanta Services in a research report on Wednesday, September 4th. They set a "hold" rating and a $256.00 price target on the stock. Four investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $314.27.

Quanta Services Stock Performance

Shares of Quanta Services stock traded up $1.87 during trading on Friday, hitting $303.50. 902,808 shares of the company's stock were exchanged, compared to its average volume of 887,894. Quanta Services has a 52-week low of $163.93 and a 52-week high of $317.91. 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 stock has a market capitalization of $44.71 billion, a price-to-earnings ratio of 57.02 and a beta of 1.01. The business has a 50-day simple moving average of $289.79 and a 200-day simple moving average of $272.31.

Quanta Services (NYSE:PWR - Get Free Report) last issued its quarterly earnings data on Thursday, October 31st. The construction company reported $2.72 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.46 by $0.26. The business had revenue of $6.49 billion during the quarter, compared to analysts' expectations of $6.56 billion. Quanta Services had a return on equity of 16.29% and a net margin of 3.59%. The company's revenue for the quarter was up 15.5% on a year-over-year basis. During the same quarter in the previous year, the firm posted $2.08 EPS. On average, research analysts forecast that Quanta Services will post 7.82 EPS for the current year.

Insider Buying and Selling

In other Quanta Services news, CEO Earl C. Jr. Austin sold 130,000 shares of the firm's stock in a transaction 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 completion of the sale, the chief executive officer now directly owns 593,402 shares of the company's stock, valued at $155,595,938.42. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, CEO Earl C. Jr. Austin sold 130,000 shares of the stock in a transaction that occurred on Wednesday, August 14th. The shares were sold at an average price of $262.21, for a total value of $34,087,300.00. Following the completion of the sale, the chief executive officer now owns 593,402 shares of the company's stock, valued at $155,595,938.42. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, insider Karl W. Studer sold 23,357 shares of Quanta Services stock in a transaction that occurred on Wednesday, August 21st. The shares were sold at an average price of $270.51, for a total transaction of $6,318,302.07. Following 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 position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 202,357 shares of company stock worth $53,115,572. 1.10% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Quanta Services

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