Robert W. Baird Boosts Quanta Services (NYSE:PWR) Price Target to $287.00

Quanta Services (NYSE:PWR) had its price target upped by Robert W. Baird from $265.00 to $287.00 in a research note published on Friday, Benzinga reports. They currently have an outperform rating on the construction company’s stock.

Several other research analysts have also recently commented on the company. Evercore ISI assumed coverage on Quanta Services in a research note on Tuesday, February 13th. They set an outperform rating and a $237.00 target price for the company. Citigroup raised their price target on Quanta Services from $275.00 to $285.00 and gave the stock a buy rating in a research note on Monday, April 22nd. Stifel Nicolaus increased their price objective on Quanta Services from $237.00 to $252.00 and gave the company a buy rating in a report on Friday, February 23rd. TD Cowen upped their price target on shares of Quanta Services from $205.00 to $270.00 and gave the company an outperform rating in a research report on Tuesday, February 27th. Finally, The Goldman Sachs Group increased their target price on shares of Quanta Services from $227.00 to $259.00 and gave the stock a buy rating in a research note on Monday, February 26th. Three analysts have rated the stock with a hold rating and ten have given a buy rating to the company. According to MarketBeat, the stock currently has an average rating of Moderate Buy and an average price target of $256.15.

Quanta Services Trading Up 5.1 %

Shares of NYSE PWR traded up $13.17 during midday trading on Friday, reaching $269.50. 1,381,506 shares of the stock were exchanged, compared to its average volume of 939,881. The stock has a market capitalization of $39.45 billion, a P/E ratio of 49.68 and a beta of 1.10. Quanta Services has a twelve month low of $153.74 and a twelve month high of $270.42. The company has a debt-to-equity ratio of 0.50, a quick ratio of 1.32 and a current ratio of 1.36. The company has a 50 day simple moving average of $250.69 and a 200 day simple moving average of $214.98.

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, beating the consensus estimate of $1.83 by $0.21. The firm had revenue of $5.78 billion during the quarter, compared to the consensus estimate 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 for the quarter was up 31.0% on a year-over-year basis. During the same quarter last year, the firm earned $1.54 EPS. As a group, equities analysts expect that Quanta Services will post 7.63 earnings per share for the current year.

Quanta Services Dividend Announcement

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

Insider Buying and Selling at Quanta Services

In related 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 sale, the executive vice president now directly owns 40,065 shares in the company, valued at approximately $10,494,626.10. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In other Quanta Services news, EVP Donald Wayne sold 1,101 shares of the stock in a transaction on Wednesday, March 27th. The stock was sold at an average price of $261.94, for a total transaction of $288,395.94. Following the sale, the executive vice president now owns 40,065 shares in the company, valued at approximately $10,494,626.10. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Worthing Jackman sold 9,572 shares of the company’s 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 completion of the sale, the director now owns 7,486 shares in the company, 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. Insiders own 1.10% of the company’s stock.

Hedge Funds Weigh In On Quanta Services

Institutional investors and hedge funds have recently modified their holdings of the company. Private Ocean LLC purchased a new position in shares of Quanta Services during the 1st quarter worth $26,000. Salomon & Ludwin LLC purchased a new stake in Quanta Services in the 1st quarter valued at about $26,000. Newbridge Financial Services Group Inc. acquired a new stake in shares of Quanta Services in the fourth quarter worth approximately $34,000. Grove Bank & Trust grew its holdings in Quanta Services by 75.6% in the third 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. Finally, Hazlett Burt & Watson Inc. boosted its holdings 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 acquiring an additional 52 shares during the last quarter. Hedge funds and other institutional investors own 90.49% of the company’s stock.

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.