Evercore ISI Raises Quanta Services (NYSE:PWR) Price Target to $288.00

Quanta Services (NYSE:PWR) had its target price lifted by investment analysts at Evercore ISI from $255.00 to $288.00 in a research note issued on Tuesday, Benzinga reports. The brokerage presently has an “outperform” rating on the construction company’s stock. Evercore ISI’s price objective would indicate a potential upside of 6.75% from the stock’s current price.

Several other research firms have also weighed in on PWR. TD Cowen boosted their price objective on shares of Quanta Services from $205.00 to $270.00 and gave the stock an “outperform” rating in a research note on Tuesday, February 27th. The Goldman Sachs Group lifted their target price on Quanta Services from $227.00 to $259.00 and gave the stock a “buy” rating in a research note on Monday, February 26th. Citigroup lifted their price objective on Quanta Services from $275.00 to $285.00 and gave the company a “buy” rating in a report on Monday, April 22nd. B. Riley raised their price target on Quanta Services from $246.00 to $286.00 and gave the stock a “buy” rating in a research report on Friday. Finally, DA Davidson increased their price objective on shares of Quanta Services from $225.00 to $250.00 and gave the stock a “neutral” rating in a research note on Tuesday. Three analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $262.00.

Quanta Services Stock Up 0.1 %

Quanta Services stock traded up $0.30 during midday trading on Tuesday, reaching $269.80. The stock had a trading volume of 508,281 shares, compared to its average volume of 934,738. The stock has a market capitalization of $39.50 billion, a P/E ratio of 52.19 and a beta of 1.10. The firm’s fifty day simple moving average is $251.36 and its 200-day simple moving average is $215.69. The company has a debt-to-equity ratio of 0.50, a quick ratio of 1.32 and a current ratio of 1.36. Quanta Services has a 1-year low of $153.74 and a 1-year high of $271.97.

Quanta Services (NYSE:PWR) last announced its quarterly earnings data 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 business had revenue of $5.78 billion for the quarter, compared to analyst estimates 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 in the previous year, the firm posted $1.54 earnings per share. As a group, analysts expect that Quanta Services will post 7.63 EPS for the current fiscal year.

Insiders Place Their Bets

In related 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 completion of the sale, the director now 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 SEC, which is accessible through the SEC website. In other 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 transaction 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 can be accessed through this hyperlink. Also, Director Worthing Jackman sold 9,572 shares of the business’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 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 three months, insiders sold 47,125 shares of company stock worth $11,270,215. 1.10% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Quanta Services

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Reaves W H & Co. Inc. bought a new position in Quanta Services in the 1st quarter worth approximately $29,139,000. Forsta AP Fonden lifted its position in shares of Quanta Services by 9.9% during the first quarter. Forsta AP Fonden now owns 30,100 shares of the construction company’s stock worth $7,820,000 after acquiring an additional 2,700 shares in the last quarter. Nvwm LLC raised its stake in shares of Quanta Services by 2.7% during the 1st quarter. Nvwm LLC now owns 3,486 shares of the construction company’s stock valued at $906,000 after purchasing an additional 90 shares during the period. Allen Investment Management LLC grew its holdings in Quanta Services by 1,418.0% during the 1st quarter. Allen Investment Management LLC now owns 33,396 shares of the construction company’s stock valued at $8,676,000 after buying an additional 31,196 shares in the last quarter. Finally, PFG Advisors lifted its holdings in shares of Quanta Services by 14.1% in the first quarter. PFG Advisors now owns 6,394 shares of the construction company’s stock worth $1,661,000 after buying an additional 790 shares in the last quarter. 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.