Quanta Services, Inc. (NYSE:PWR) Receives $284.50 Consensus Target Price from Analysts

Quanta Services, Inc. (NYSE:PWR) has been assigned an average rating of “Moderate Buy” from the thirteen analysts that are currently covering the stock, Marketbeat reports. Three analysts have rated the stock with a hold recommendation and ten have issued a buy recommendation on the company. The average 1-year target price among brokers that have updated their coverage on the stock in the last year is $284.50.

A number of research firms have commented 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. Northland Securities increased their price objective on shares of Quanta Services from $264.00 to $280.00 and gave the company an “outperform” rating in a report on Friday, August 2nd. Citigroup increased their price objective on shares of Quanta Services from $299.00 to $302.00 and gave the company a “buy” rating in a report on Monday, July 22nd. The Goldman Sachs Group increased their price objective on shares of Quanta Services from $259.00 to $286.00 and gave the company a “buy” rating in a report on Tuesday, May 28th. Finally, Truist Financial reiterated a “buy” rating and issued a $319.00 price objective (up previously from $305.00) on shares of Quanta Services in a report on Monday, August 5th.

Insider Buying and Selling

In related news, insider Gerald A. Ducey, Jr. sold 15,000 shares of the stock in a transaction that occurred on Friday, August 9th. The shares were 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 owns 21,286 shares of the company’s stock, valued at approximately $5,490,297.98. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, insider Gerald A. Ducey, Jr. sold 15,000 shares of the stock in a transaction that occurred on Friday, August 9th. The shares were 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 owns 21,286 shares of the company’s stock, valued at approximately $5,490,297.98. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 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 transaction of $34,087,300.00. Following the transaction, the chief executive officer now directly owns 593,402 shares of the company’s stock, valued at approximately $155,595,938.42. The disclosure for this sale can be found here. In the last quarter, insiders sold 202,357 shares of company stock valued at $53,115,572. Company insiders own 1.10% of the company’s stock.

Hedge Funds Weigh In On Quanta Services

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. EntryPoint Capital LLC purchased a new position in Quanta Services in the 1st quarter valued at approximately $25,000. Private Ocean LLC purchased a new position in Quanta Services in the 1st quarter valued at approximately $26,000. Salomon & Ludwin LLC purchased a new position in Quanta Services in the 1st quarter valued at approximately $26,000. Cambridge Trust Co. purchased a new position in Quanta Services in the 1st quarter valued at approximately $26,000. Finally, Valley Wealth Managers Inc. purchased a new position in Quanta Services in the 2nd quarter valued at approximately $33,000. Hedge funds and other institutional investors own 90.49% of the company’s stock.

Quanta Services Stock Up 0.4 %

PWR opened at $269.54 on Wednesday. Quanta Services has a twelve month low of $153.74 and a twelve month high of $286.87. The company has a quick ratio of 1.25, a current ratio of 1.30 and a debt-to-equity ratio of 0.45. The company has a 50-day moving average price of $259.87 and a 200 day moving average price of $259.84. The company has a market cap of $39.71 billion, a PE ratio of 52.24 and a beta of 1.01.

Quanta Services (NYSE:PWR) last released its quarterly earnings results on Thursday, August 1st. The construction company reported $1.90 earnings per share for the quarter, topping the consensus estimate of $1.75 by $0.15. Quanta Services had a net margin of 3.59% and a return on equity of 16.29%. The firm had revenue of $5.59 billion during the quarter, compared to the consensus estimate of $5.51 billion. During the same quarter in the prior year, the firm earned $1.47 EPS. The company’s revenue for the quarter was up 10.8% on a year-over-year basis. Sell-side analysts expect that Quanta Services will post 7.82 earnings per share for the current fiscal year.

Quanta Services Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, October 11th. Stockholders of record on Tuesday, October 1st will be issued a dividend of $0.09 per share. The ex-dividend date is Tuesday, October 1st. This represents a $0.36 dividend on an annualized basis and a dividend yield of 0.13%. Quanta Services’s dividend payout ratio is currently 6.98%.

About Quanta Services

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.