Citigroup Boosts Quanta Services (NYSE:PWR) Price Target to $285.00

Quanta Services (NYSE:PWR) had its price objective lifted by Citigroup from $275.00 to $285.00 in a report released on Monday morning, Benzinga reports. They currently have a buy rating on the construction company’s stock.

Several other equities research analysts have also commented on PWR. TD Cowen boosted their price objective on Quanta Services from $205.00 to $270.00 and gave the stock an outperform rating in a research note on Tuesday, February 27th. Evercore ISI began coverage on Quanta Services in a research report on Tuesday, February 13th. They set an outperform rating and a $237.00 price objective on the stock. DA Davidson increased their target price on Quanta Services from $190.00 to $225.00 and gave the company a neutral rating in a report on Wednesday, February 28th. The Goldman Sachs Group raised their price objective on Quanta Services from $227.00 to $259.00 and gave the stock a buy rating in a report on Monday, February 26th. Finally, Stifel Nicolaus increased their target price on shares of Quanta Services from $237.00 to $252.00 and gave the stock a buy rating in a research note on Friday, February 23rd. Three analysts have rated the stock with a hold rating and nine have given a buy rating to the company. According to data from MarketBeat, Quanta Services presently has a consensus rating of Moderate Buy and an average target price of $247.67.

Quanta Services Trading Up 0.8 %

Shares of PWR stock opened at $255.19 on Monday. The company has a market cap of $37.35 billion, a PE ratio of 50.94 and a beta of 1.11. The stock’s 50 day simple moving average is $245.08 and its two-hundred day simple moving average is $210.71. Quanta Services has a 1 year low of $153.74 and a 1 year high of $265.82. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.47 and a quick ratio of 1.44.

Quanta Services (NYSE:PWR) last posted its earnings results on Thursday, February 22nd. The construction company reported $2.04 earnings per share for the quarter, topping analysts’ consensus estimates of $1.83 by $0.21. The company had revenue of $5.78 billion during the quarter, compared to analyst estimates of $5.19 billion. Quanta Services had a return on equity of 16.46% and a net margin of 3.57%. Quanta Services’s revenue was up 31.0% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.54 earnings per share. Research analysts predict that Quanta Services will post 7.63 earnings per share for the current year.

Quanta Services Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, April 17th. Stockholders of record on Tuesday, April 9th were paid a dividend of $0.09 per share. The ex-dividend date of this dividend was Monday, April 8th. This represents a $0.36 dividend on an annualized basis and a dividend yield of 0.14%. Quanta Services’s dividend payout ratio (DPR) is 7.19%.

Insider Transactions at Quanta Services

In other Quanta Services news, Director Worthing Jackman sold 9,572 shares of Quanta Services stock in a transaction on Wednesday, February 28th. The shares were sold at an average price of $237.31, for a total value of $2,271,531.32. Following the transaction, the director now owns 7,486 shares in the company, valued at approximately $1,776,502.66. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other Quanta Services news, EVP Derrick A. Jensen sold 18,500 shares of the business’s stock in a transaction on Tuesday, February 27th. The shares were sold at an average price of $236.90, for a total value of $4,382,650.00. Following the transaction, the executive vice president now owns 263,725 shares in the company, valued at approximately $62,476,452.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Worthing Jackman sold 9,572 shares of the business’s stock in a transaction dated Wednesday, February 28th. The stock was sold at an average price of $237.31, for a total transaction of $2,271,531.32. Following the completion of the sale, the director now directly owns 7,486 shares of the company’s stock, valued at approximately $1,776,502.66. The disclosure for this sale can be found here. Insiders sold a total of 47,125 shares of company stock valued at $11,270,215 in the last ninety days. Corporate insiders own 1.10% of the company’s stock.

Institutional Investors Weigh In On Quanta Services

Institutional investors have recently modified their holdings of the business. Private Ocean LLC bought a new stake in shares of Quanta Services during the 1st quarter valued at about $26,000. Grove Bank & Trust boosted its stake in Quanta Services by 75.6% during the 3rd quarter. Grove Bank & Trust now owns 158 shares of the construction company’s stock valued at $30,000 after purchasing an additional 68 shares during the period. Geneos Wealth Management Inc. boosted its stake in Quanta Services by 1,730.0% during the 3rd quarter. Geneos Wealth Management Inc. now owns 183 shares of the construction company’s stock valued at $34,000 after purchasing an additional 173 shares during the period. Hazlett Burt & Watson Inc. boosted its stake in Quanta Services by 47.3% during the 4th 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 during the period. Finally, Newbridge Financial Services Group Inc. acquired a new position in Quanta Services during the 4th quarter valued at about $34,000. Institutional investors own 90.49% of the company’s stock.

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.