Quanta Services (NYSE:PWR) Price Target Raised to $286.00 at B. Riley

Quanta Services (NYSE:PWR) had its target price upped by B. Riley from $246.00 to $286.00 in a research report sent to investors on Friday morning, Benzinga reports. The firm currently has a buy rating on the construction company’s stock.

A number of other brokerages also recently issued reports on PWR. TD Cowen increased their price target on shares of Quanta Services from $205.00 to $270.00 and gave the company an outperform rating in a report on Tuesday, February 27th. DA Davidson increased their price objective on shares of Quanta Services from $190.00 to $225.00 and gave the stock a neutral rating in a report on Wednesday, February 28th. Truist Financial initiated coverage on shares of Quanta Services in a research report on Thursday, March 14th. They set a buy rating and a $301.00 price target for the company. Evercore ISI began coverage on Quanta Services in a research report on Tuesday, February 13th. They issued an outperform rating and a $237.00 target price on the stock. Finally, Citigroup increased their target price on Quanta Services from $275.00 to $285.00 and gave the company a buy rating in a research note on Monday, April 22nd. Three investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. Based on data from MarketBeat, Quanta Services currently has a consensus rating of Moderate Buy and an average target price of $256.15.

Quanta Services Stock Up 5.1 %

NYSE PWR traded up $13.17 on Friday, hitting $269.50. 1,380,197 shares of the stock were exchanged, compared to its average volume of 935,925. The company has a market cap of $39.45 billion, a PE ratio of 49.68 and a beta of 1.10. Quanta Services has a fifty-two week low of $153.74 and a fifty-two week high of $270.42. The company has a quick ratio of 1.32, a current ratio of 1.36 and a debt-to-equity ratio of 0.50. The company has a 50-day moving average price of $250.69 and a 200-day moving average price of $214.98.

Quanta Services (NYSE:PWR) last issued its earnings results on Thursday, February 22nd. The construction company reported $2.04 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.83 by $0.21. The business had revenue of $5.78 billion during the quarter, compared to analysts’ expectations of $5.19 billion. Quanta Services had a net margin of 3.57% and a return on equity of 16.25%. The company’s revenue for the quarter was up 31.0% on a year-over-year basis. During the same quarter in the prior year, the business posted $1.54 EPS. Sell-side analysts anticipate that Quanta Services will post 7.63 EPS for the current fiscal year.

Quanta Services Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, April 17th. Shareholders of record on Tuesday, April 9th were issued a $0.09 dividend. The ex-dividend date was Monday, April 8th. This represents a $0.36 dividend on an annualized basis and a yield of 0.13%. Quanta Services’s dividend payout ratio is currently 6.98%.

Insider Buying and Selling at Quanta Services

In other news, EVP Derrick A. Jensen sold 18,500 shares of the stock in a transaction that occurred on Tuesday, February 27th. The stock was sold at an average price of $236.90, for a total transaction of $4,382,650.00. Following the sale, the executive vice president now directly owns 263,725 shares in the company, valued at approximately $62,476,452.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Quanta Services news, EVP Derrick A. Jensen sold 18,500 shares of the firm’s stock in a transaction dated Tuesday, February 27th. The shares were sold at an average price of $236.90, for a total transaction of $4,382,650.00. Following the transaction, the executive vice president now owns 263,725 shares of the company’s stock, valued at approximately $62,476,452.50. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, EVP Donald Wayne sold 1,101 shares of Quanta Services stock in a transaction dated Wednesday, March 27th. The stock was sold at an average price of $261.94, for a total value of $288,395.94. Following the completion of the transaction, the executive vice president now directly owns 40,065 shares in the company, valued at approximately $10,494,626.10. The disclosure for this sale can be found here. Insiders sold a total of 47,125 shares of company stock worth $11,270,215 over the last ninety days. Company insiders own 1.10% of the company’s stock.

Institutional Trading of Quanta Services

A number of hedge funds have recently bought and sold shares of the stock. Private Ocean LLC acquired a new position in shares of Quanta Services during the first quarter valued at about $26,000. Salomon & Ludwin LLC acquired a new position in Quanta Services in the 1st quarter valued at approximately $26,000. Newbridge Financial Services Group Inc. bought a new stake in shares of Quanta Services in the 4th quarter worth approximately $34,000. Grove Bank & Trust grew its holdings in shares of Quanta Services by 75.6% during the 3rd quarter. Grove Bank & Trust now owns 158 shares of the construction company’s stock worth $30,000 after purchasing an additional 68 shares in the last quarter. Finally, Hazlett Burt & Watson Inc. raised its stake in shares of Quanta Services by 47.3% in the fourth quarter. Hazlett Burt & Watson Inc. now owns 162 shares of the construction company’s stock valued at $34,000 after purchasing an additional 52 shares in the last quarter. 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.