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

Quanta Services (NYSE:PWR) had its price objective boosted by B. Riley from $246.00 to $286.00 in a report released on Friday, Benzinga reports. The brokerage currently has a buy rating on the construction company’s stock.

PWR has been the subject of a number of other reports. KeyCorp began coverage on Quanta Services in a research note on Wednesday, January 10th. They issued a sector weight rating for the company. TD Cowen boosted their price target on Quanta Services from $205.00 to $270.00 and gave the stock an outperform rating in a report on Tuesday, February 27th. Robert W. Baird upped their price objective on Quanta Services from $265.00 to $287.00 and gave the company an outperform rating in a research note on Friday. The Goldman Sachs Group upped their price target on shares of Quanta Services from $227.00 to $259.00 and gave the company a buy rating in a research report on Monday, February 26th. Finally, Citigroup lifted their price target on shares of Quanta Services from $275.00 to $285.00 and gave the stock a buy rating in a report on Monday, April 22nd. Three analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of Moderate Buy and a consensus price target of $255.85.

Quanta Services Price Performance

Shares of NYSE:PWR traded up $1.33 during midday trading on Friday, hitting $256.33. The stock had a trading volume of 970,817 shares, compared to its average volume of 893,668. The company has a quick ratio of 1.44, a current ratio of 1.36 and a debt-to-equity ratio of 0.50. The company has a market capitalization of $37.52 billion, a P/E ratio of 49.68 and a beta of 1.10. The company’s 50-day moving average price is $250.69 and its 200-day moving average price is $214.43. Quanta Services has a fifty-two week low of $153.74 and a fifty-two week high of $265.82.

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

Quanta Services Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, April 17th. Shareholders of record on Tuesday, April 9th were issued a dividend of $0.09 per share. The ex-dividend date was Monday, April 8th. This represents a $0.36 annualized dividend and a yield of 0.14%. Quanta Services’s payout ratio is 6.98%.

Insider Activity

In related news, Director Worthing Jackman sold 9,572 shares of the company’s stock in a transaction dated 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 sale, the director now owns 7,486 shares in the company, valued at approximately $1,776,502.66. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In related news, Director Worthing Jackman sold 9,572 shares of the stock in a transaction on Wednesday, February 28th. The stock was sold at an average price of $237.31, for a total value 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Director Margaret B. Shannon sold 8,515 shares of Quanta Services stock in a transaction on Friday, March 1st. The stock was sold at an average price of $239.92, for a total transaction of $2,042,918.80. Following the transaction, the director now directly owns 34,063 shares in the company, valued at $8,172,394.96. The disclosure for this sale can be found here. Insiders sold 47,125 shares of company stock worth $11,270,215 over the last three months. 1.10% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Quanta Services

Several institutional investors have recently modified their holdings of PWR. Wedmont Private Capital raised its position in Quanta Services by 1.0% in the first quarter. Wedmont Private Capital now owns 4,674 shares of the construction company’s stock worth $1,198,000 after acquiring an additional 47 shares during the period. Hazlett Burt & Watson Inc. lifted its stake in 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 during the last quarter. Checchi Capital Advisers LLC increased its position in Quanta Services by 4.6% in the fourth quarter. Checchi Capital Advisers LLC now owns 1,367 shares of the construction company’s stock worth $295,000 after buying an additional 60 shares during the last quarter. Tower Wealth Partners Inc. raised its stake in shares of Quanta Services by 6.3% in the first quarter. Tower Wealth Partners Inc. now owns 1,040 shares of the construction company’s stock valued at $270,000 after buying an additional 62 shares during the period. Finally, Wellington Shields Capital Management LLC lifted its position in shares of Quanta Services by 0.4% during the 1st quarter. Wellington Shields Capital Management LLC now owns 18,599 shares of the construction company’s stock valued at $4,832,000 after buying an additional 65 shares during 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.