Quanta Services’ (PWR) “Buy” Rating Reiterated at Truist Financial

Truist Financial restated their buy rating on shares of Quanta Services (NYSE:PWR) in a report released on Monday, Benzinga reports. The firm currently has a $305.00 target price on the construction company’s stock, up from their prior target price of $301.00.

PWR has been the topic of several other research reports. Robert W. Baird lifted their target price on Quanta Services from $265.00 to $287.00 and gave the company an outperform rating in a research note on Friday. Stifel Nicolaus raised their price objective on Quanta Services from $237.00 to $252.00 and gave the company a buy rating in a research report on Friday, February 23rd. TD Cowen increased their price target on Quanta Services from $205.00 to $270.00 and gave the company an outperform rating in a research note on Tuesday, February 27th. Evercore ISI began coverage on shares of Quanta Services in a research note on Tuesday, February 13th. They set an outperform rating and a $237.00 price target on the stock. Finally, KeyCorp initiated coverage on Quanta Services in a research note on Wednesday, January 10th. They set a sector weight rating on the stock. Three equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of Moderate Buy and an average target price of $256.15.

Quanta Services Stock Performance

Shares of PWR opened at $270.35 on Monday. Quanta Services has a 52 week low of $153.74 and a 52 week high of $271.27. 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 stock has a market cap of $39.58 billion, a price-to-earnings ratio of 52.22 and a beta of 1.10. The business has a 50-day simple moving average of $251.36 and a two-hundred day simple moving average of $215.69.

Quanta Services (NYSE:PWR) last released its earnings results on Thursday, February 22nd. The construction company reported $2.04 EPS for the quarter, topping analysts’ consensus estimates of $1.83 by $0.21. The company had revenue of $5.78 billion for 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 firm’s revenue was up 31.0% compared to the same quarter last year. During the same quarter last year, the business earned $1.54 EPS. On average, analysts expect that Quanta Services will post 7.63 EPS for the current year.

Quanta Services Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, April 17th. Shareholders of record on Tuesday, April 9th were given a dividend of $0.09 per share. This represents a $0.36 annualized dividend and a yield of 0.13%. The ex-dividend date was Monday, April 8th. Quanta Services’s dividend payout ratio (DPR) is 6.98%.

Insider Activity

In other news, EVP Donald Wayne sold 1,101 shares of Quanta Services stock in a transaction dated Wednesday, March 27th. The shares were sold at an average price of $261.94, for a total transaction of $288,395.94. Following the completion of the sale, the executive vice president now directly owns 40,065 shares in the company, valued at $10,494,626.10. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In other news, EVP Donald Wayne sold 1,101 shares of the business’s stock in a transaction dated Wednesday, March 27th. The shares were sold at an average price of $261.94, for a total value of $288,395.94. Following the completion of the sale, the executive vice president now owns 40,065 shares of the company’s stock, valued at approximately $10,494,626.10. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Worthing Jackman sold 9,572 shares of the company’s 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 transaction, the director now owns 7,486 shares of the company’s stock, valued at $1,776,502.66. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 47,125 shares of company stock valued at $11,270,215. Company insiders own 1.10% of the company’s stock.

Institutional Investors Weigh In On Quanta Services

Hedge funds have recently bought and sold shares of the business. Vanguard Group Inc. increased its stake in Quanta Services by 1.2% in the fourth quarter. Vanguard Group Inc. now owns 16,235,875 shares of the construction company’s stock valued at $3,503,702,000 after acquiring an additional 191,334 shares during the period. Capital World Investors lifted its holdings in shares of Quanta Services by 11.6% during the 4th quarter. Capital World Investors now owns 6,000,722 shares of the construction company’s stock valued at $1,294,956,000 after purchasing an additional 624,545 shares in the last quarter. FMR LLC boosted its stake in Quanta Services by 1.1% in the 3rd quarter. FMR LLC now owns 4,229,280 shares of the construction company’s stock worth $791,171,000 after purchasing an additional 44,141 shares during the period. Artisan Partners Limited Partnership boosted its stake in shares of Quanta Services by 384.9% during the 4th quarter. Artisan Partners Limited Partnership now owns 2,438,653 shares of the construction company’s stock worth $526,261,000 after buying an additional 1,935,786 shares during the last quarter. Finally, Norges Bank acquired a new stake in Quanta Services in the 4th quarter valued at about $335,777,000. 90.49% of the stock is owned by hedge funds and other 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.