Quanta Services Inc (PWR) Receives $42.80 Average PT from Brokerages

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Quanta Services Inc (NYSE:PWR) has received an average rating of “Hold” from the seven ratings firms that are currently covering the firm, MarketBeat reports. Four investment analysts have rated the stock with a hold rating and three have given a buy rating to the company. The average 1 year target price among analysts that have covered the stock in the last year is $42.80.

Several research firms have recently issued reports on PWR. Citigroup set a $47.00 target price on Quanta Services and gave the company a “buy” rating in a report on Friday, May 3rd. DA Davidson lowered Quanta Services from a “buy” rating to a “neutral” rating in a report on Tuesday, April 16th. Zacks Investment Research raised Quanta Services from a “sell” rating to a “hold” rating and set a $41.00 target price for the company in a report on Monday, February 25th. ValuEngine raised Quanta Services from a “sell” rating to a “hold” rating in a report on Thursday, January 24th. Finally, B. Riley reaffirmed a “buy” rating and issued a $47.00 target price (down from $56.00) on shares of Quanta Services in a report on Monday, March 11th.

In related news, EVP Donald Wayne sold 1,295 shares of the stock in a transaction on Friday, March 1st. The stock was sold at an average price of $36.09, for a total value of $46,736.55. Following the sale, the executive vice president now owns 30,054 shares in the company, valued at $1,084,648.86. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Bernard Fried sold 4,000 shares of the stock in a transaction on Monday, March 25th. The stock was sold at an average price of $36.63, for a total value of $146,520.00. Following the completion of the sale, the director now owns 8,953 shares in the company, valued at approximately $327,948.39. The disclosure for this sale can be found here. Over the last three months, insiders have sold 105,295 shares of company stock valued at $4,193,257. 1.20% of the stock is owned by corporate insiders.

Several hedge funds have recently modified their holdings of the stock. Vanguard Group Inc raised its position in shares of Quanta Services by 0.9% in the third quarter. Vanguard Group Inc now owns 15,472,260 shares of the construction company’s stock worth $516,464,000 after buying an additional 139,596 shares in the last quarter. BlackRock Inc. raised its position in shares of Quanta Services by 2.4% in the fourth quarter. BlackRock Inc. now owns 8,971,475 shares of the construction company’s stock worth $270,042,000 after buying an additional 207,321 shares in the last quarter. Victory Capital Management Inc. raised its position in shares of Quanta Services by 6.4% in the fourth quarter. Victory Capital Management Inc. now owns 6,612,780 shares of the construction company’s stock worth $199,045,000 after buying an additional 396,564 shares in the last quarter. Peconic Partners LLC raised its position in shares of Quanta Services by 20.1% in the fourth quarter. Peconic Partners LLC now owns 3,690,373 shares of the construction company’s stock worth $111,080,000 after buying an additional 618,459 shares in the last quarter. Finally, Voya Investment Management LLC raised its position in shares of Quanta Services by 1.9% in the first quarter. Voya Investment Management LLC now owns 3,501,104 shares of the construction company’s stock worth $132,132,000 after buying an additional 66,068 shares in the last quarter. Institutional investors own 87.20% of the company’s stock.

PWR traded down $0.71 during midday trading on Thursday, reaching $35.09. 2,141,479 shares of the company were exchanged, compared to its average volume of 1,347,905. The company has a debt-to-equity ratio of 0.41, a quick ratio of 1.95 and a current ratio of 2.00. The firm has a market capitalization of $4.99 billion, a P/E ratio of 13.87 and a beta of 1.07. Quanta Services has a one year low of $27.90 and a one year high of $41.00.

Quanta Services (NYSE:PWR) last released its earnings results on Thursday, May 2nd. The construction company reported $0.96 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.83 by $0.13. The company had revenue of $2.81 billion during the quarter, compared to analyst estimates of $2.65 billion. Quanta Services had a return on equity of 12.71% and a net margin of 3.25%. Quanta Services’s quarterly revenue was up 16.1% on a year-over-year basis. During the same period in the prior year, the company posted $0.40 earnings per share. On average, equities analysts forecast that Quanta Services will post 3.34 earnings per share for the current year.

The firm also recently announced a quarterly dividend, which was paid on Friday, April 19th. Stockholders of record on Friday, April 5th were issued a $0.04 dividend. This represents a $0.16 annualized dividend and a dividend yield of 0.46%. The ex-dividend date of this dividend was Thursday, April 4th. Quanta Services’s dividend payout ratio is presently 6.32%.

Quanta Services Company Profile

Quanta Services, Inc provides specialty contracting services in the United States, Canada, Australia, Latin America, and internationally. Its Electric Power Infrastructure Services segment designs, installs, upgrades, repairs, and maintains electric power transmission and distribution infrastructure, and substation facilities, as well as provides other engineering and technical services; designs, installs, maintains, and repairs commercial and industrial wiring; and operates a postsecondary educational institution.

Further Reading: Net Margin

Analyst Recommendations for Quanta Services (NYSE:PWR)

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