Quanta Services (NYSE:PWR) Given Buy Rating at Truist Financial

Truist Financial reaffirmed their buy rating on shares of Quanta Services (NYSE:PWR) in a research note issued to investors on Monday, Benzinga reports. The brokerage currently has a $305.00 price objective on the construction company’s stock, up from their previous price objective of $301.00.

Other equities analysts also recently issued research reports about the company. TD Cowen upped their target price on Quanta Services from $205.00 to $270.00 and gave the company an outperform rating in a report on Tuesday, February 27th. DA Davidson raised their price target on Quanta Services from $190.00 to $225.00 and gave the company a neutral rating in a report on Wednesday, February 28th. The Goldman Sachs Group upped their price objective on Quanta Services from $227.00 to $259.00 and gave the company a buy rating in a research report on Monday, February 26th. B. Riley lifted their price target on shares of Quanta Services from $246.00 to $286.00 and gave the stock a buy rating in a research note on Friday, May 3rd. Finally, Citigroup upped their price objective on Quanta Services from $275.00 to $285.00 and gave the company a buy rating in a research report on Monday, April 22nd. Three equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the company. Based on data from MarketBeat, Quanta Services currently has a consensus rating of Moderate Buy and a consensus target price of $262.00.

Quanta Services Trading Up 2.1 %

Shares of PWR opened at $270.42 on Monday. 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 fifty-two week low of $153.74 and a fifty-two week high of $271.96. The firm has a 50 day moving average price of $253.02 and a 200-day moving average price of $217.12. The firm has a market cap of $39.59 billion, a price-to-earnings ratio of 52.41 and a beta of 1.10.

Quanta Services (NYSE:PWR) last posted its quarterly earnings results on Thursday, February 22nd. The construction company reported $2.04 earnings per share (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 business had revenue of $5.78 billion for the quarter, compared to analyst estimates of $5.19 billion. During the same period last year, the company earned $1.54 EPS. Quanta Services’s revenue for the quarter was up 31.0% compared to the same quarter last year. As a group, equities research analysts forecast that Quanta Services will post 7.63 earnings per share for the current year.

Quanta Services Dividend Announcement

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

Insiders Place Their Bets

In other news, EVP Donald Wayne sold 1,101 shares of Quanta Services stock in a transaction that occurred on Wednesday, March 27th. The shares were 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 $10,494,626.10. The transaction was disclosed in a document filed with the SEC, which is available at this link. In other news, EVP Donald Wayne sold 1,101 shares of the firm’s stock in a transaction dated Wednesday, March 27th. The stock was sold at an average price of $261.94, for a total transaction of $288,395.94. Following the completion of the transaction, the executive vice president now owns 40,065 shares in the company, valued at $10,494,626.10. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Worthing Jackman sold 9,572 shares of the business’s stock in a transaction dated 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 owns 7,486 shares in the company, valued at $1,776,502.66. The disclosure for this sale can be found here. Insiders sold 47,125 shares of company stock worth $11,270,215 in the last three months. 1.10% of the stock is owned by company insiders.

Institutional Trading of Quanta Services

A number of large investors have recently modified their holdings of PWR. Private Ocean LLC purchased a new position in Quanta Services during the first quarter valued at approximately $26,000. Salomon & Ludwin LLC purchased a new position in shares of Quanta Services in the first quarter worth $26,000. Grove Bank & Trust lifted its position in Quanta Services by 75.6% during the 3rd quarter. Grove Bank & Trust now owns 158 shares of the construction company’s stock worth $30,000 after acquiring an additional 68 shares during the period. Hazlett Burt & Watson Inc. lifted its holdings in shares of Quanta Services by 47.3% during the fourth quarter. Hazlett Burt & Watson Inc. now owns 162 shares of the construction company’s stock worth $34,000 after purchasing an additional 52 shares during the period. Finally, Newbridge Financial Services Group Inc. purchased a new position in shares of Quanta Services during the 4th quarter valued at about $34,000. 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.