DA Davidson Boosts Quanta Services (NYSE:PWR) Price Target to $250.00

Quanta Services (NYSE:PWR) had its price target lifted by investment analysts at DA Davidson from $225.00 to $250.00 in a research note issued to investors on Tuesday, Benzinga reports. The firm currently has a “neutral” rating on the construction company’s stock. DA Davidson’s price target points to a potential downside of 7.50% from the company’s previous close.

Other equities research analysts also recently issued reports about the company. Robert W. Baird boosted their price target on Quanta Services from $265.00 to $287.00 and gave the company an “outperform” rating in a report on Friday. Stifel Nicolaus upped their price objective on Quanta Services from $237.00 to $252.00 and gave the stock a “buy” rating in a research note on Friday, February 23rd. Citigroup upped their price objective on Quanta Services from $275.00 to $285.00 and gave the stock a “buy” rating in a research note on Monday, April 22nd. The Goldman Sachs Group boosted their price target on Quanta Services from $227.00 to $259.00 and gave the stock a “buy” rating in a research report on Monday, February 26th. Finally, Truist Financial reiterated a “buy” rating and set a $305.00 price target (up previously from $301.00) on shares of Quanta Services in a research report on Monday. Three investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. Based on data from MarketBeat, Quanta Services has a consensus rating of “Moderate Buy” and a consensus price target of $258.08.

Quanta Services Stock Up 0.3 %

Shares of Quanta Services stock traded up $0.77 on Tuesday, hitting $270.27. 272,371 shares of the company’s stock traded hands, compared to its average volume of 932,076. 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 firm’s 50-day moving average is $251.36 and its 200 day moving average is $215.69. The stock has a market cap of $39.56 billion, a P/E ratio of 52.53 and a beta of 1.10. Quanta Services has a 52-week low of $153.74 and a 52-week high of $271.97.

Quanta Services (NYSE:PWR) last released its earnings results on Thursday, February 22nd. The construction company reported $2.04 earnings per share for the quarter, topping the consensus estimate of $1.83 by $0.21. Quanta Services had a net margin of 3.57% and a return on equity of 16.25%. The company 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 EPS. The company’s revenue was up 31.0% on a year-over-year basis. Equities analysts anticipate that Quanta Services will post 7.63 earnings per share for the current year.

Insider Activity at Quanta Services

In related news, EVP Derrick A. Jensen sold 18,500 shares of the stock in a transaction on Tuesday, February 27th. The stock was sold at an average price of $236.90, for a total value of $4,382,650.00. Following the completion of the transaction, the executive vice president now owns 263,725 shares in the company, valued at approximately $62,476,452.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, EVP Derrick A. Jensen sold 18,500 shares of the stock in a transaction dated Tuesday, February 27th. The stock was sold at an average price of $236.90, for a total value of $4,382,650.00. Following the completion of the sale, the executive vice president now directly owns 263,725 shares of the company’s stock, valued at approximately $62,476,452.50. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Margaret B. Shannon sold 8,515 shares of the stock in a transaction dated Friday, March 1st. The stock was sold at an average price of $239.92, for a total value of $2,042,918.80. Following the completion of the sale, the director now directly owns 34,063 shares of the company’s stock, valued at $8,172,394.96. The disclosure for this sale can be found here. Insiders sold 47,125 shares of company stock valued at $11,270,215 over the last 90 days. 1.10% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Quanta Services

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Truist Financial Corp raised its stake in shares of Quanta Services by 2.2% in the 4th quarter. Truist Financial Corp now owns 432,810 shares of the construction company’s stock valued at $93,400,000 after acquiring an additional 9,421 shares in the last quarter. Carnegie Capital Asset Management LLC grew its holdings in Quanta Services by 24.5% in the 4th quarter. Carnegie Capital Asset Management LLC now owns 1,650 shares of the construction company’s stock valued at $356,000 after buying an additional 325 shares during the last quarter. Gradient Investments LLC grew its holdings in Quanta Services by 669,187.5% in the 4th quarter. Gradient Investments LLC now owns 53,543 shares of the construction company’s stock valued at $11,555,000 after buying an additional 53,535 shares during the last quarter. Saxon Interests Inc. acquired a new stake in Quanta Services in the 4th quarter valued at approximately $1,352,000. Finally, Nordea Investment Management AB grew its holdings in Quanta Services by 8,297.7% in the 4th quarter. Nordea Investment Management AB now owns 912,413 shares of the construction company’s stock valued at $196,205,000 after buying an additional 901,548 shares during the last quarter. 90.49% of the stock is owned by hedge funds and other institutional investors.

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.