Stifel Nicolaus Increases Quanta Services (NYSE:PWR) Price Target to $517.00

Quanta Services (NYSE:PWR) had its price target hoisted by investment analysts at Stifel Nicolaus from $495.00 to $517.00 in a report released on Monday,Benzinga reports. The brokerage presently has a “buy” rating on the construction company’s stock. Stifel Nicolaus’ target price suggests a potential upside of 10.29% from the company’s previous close.

Other equities research analysts have also recently issued reports about the stock. Robert W. Baird set a $490.00 price objective on shares of Quanta Services in a research report on Friday, October 31st. Roth Mkm set a $500.00 price objective on Quanta Services and gave the stock a “buy” rating in a research note on Friday, October 31st. Sanford C. Bernstein reduced their price objective on Quanta Services from $432.00 to $428.00 and set a “market perform” rating on the stock in a report on Friday, December 19th. Jefferies Financial Group lowered their target price on Quanta Services from $517.00 to $506.00 and set a “buy” rating for the company in a report on Tuesday, January 13th. Finally, Argus set a $540.00 price target on Quanta Services in a research note on Friday, October 31st. Thirteen analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $461.30.

Quanta Services Price Performance

Shares of PWR stock opened at $468.75 on Monday. The stock has a 50 day moving average price of $443.81 and a 200 day moving average price of $419.53. Quanta Services has a 52-week low of $227.08 and a 52-week high of $483.29. The company has a debt-to-equity ratio of 0.66, a quick ratio of 1.30 and a current ratio of 1.34. The firm has a market capitalization of $69.90 billion, a P/E ratio of 69.44, a P/E/G ratio of 2.27 and a beta of 1.16.

Quanta Services (NYSE:PWR) last released its earnings results on Thursday, October 30th. The construction company reported $3.33 earnings per share for the quarter, topping analysts’ consensus estimates of $3.24 by $0.09. The business had revenue of $7.63 billion for the quarter, compared to analyst estimates of $7.41 billion. Quanta Services had a return on equity of 18.74% and a net margin of 3.74%.The business’s revenue was up 17.5% compared to the same quarter last year. During the same quarter last year, the firm posted $2.72 earnings per share. Quanta Services has set its FY 2025 guidance at 10.330-10.830 EPS. As a group, sell-side analysts predict that Quanta Services will post 9.34 earnings per share for the current year.

Insider Activity

In other Quanta Services news, insider Gerald A. Ducey, Jr. sold 7,653 shares of the stock in a transaction dated Thursday, November 6th. The shares were sold at an average price of $446.08, for a total transaction of $3,413,850.24. Following the completion of the sale, the insider directly owned 19,960 shares of the company’s stock, valued at approximately $8,903,756.80. This represents a 27.72% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director Bernard Fried sold 4,000 shares of Quanta Services stock in a transaction that occurred on Monday, November 3rd. The stock was sold at an average price of $452.19, for a total transaction of $1,808,760.00. Following the completion of the transaction, the director directly owned 12,493 shares in the company, valued at approximately $5,649,209.67. The trade was a 24.25% decrease in their position. The SEC filing for this sale provides additional information. Over the last three months, insiders have sold 32,002 shares of company stock valued at $14,295,857. Company insiders own 1.10% of the company’s stock.

Institutional Trading of Quanta Services

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Copia Wealth Management boosted its position in Quanta Services by 509.1% in the second quarter. Copia Wealth Management now owns 67 shares of the construction company’s stock valued at $25,000 after buying an additional 56 shares during the last quarter. SOA Wealth Advisors LLC. lifted its stake in Quanta Services by 159.3% during the 2nd quarter. SOA Wealth Advisors LLC. now owns 70 shares of the construction company’s stock valued at $26,000 after acquiring an additional 43 shares during the period. Darwin Wealth Management LLC acquired a new stake in Quanta Services during the 2nd quarter valued at approximately $26,000. Activest Wealth Management boosted its holdings in shares of Quanta Services by 94.1% in the 3rd quarter. Activest Wealth Management now owns 66 shares of the construction company’s stock valued at $27,000 after acquiring an additional 32 shares during the last quarter. Finally, Flagship Harbor Advisors LLC acquired a new stake in shares of Quanta Services in the fourth quarter worth $28,000. Hedge funds and other institutional investors own 90.49% of the company’s stock.

About Quanta Services

Quanta Services, Inc is a leading specialty contractor that provides comprehensive infrastructure solutions for the electric power, pipeline and energy, and communications markets. Headquartered in Houston, Texas, the company delivers engineering, procurement, construction, installation, maintenance and repair services that support the development, modernization and ongoing operation of critical energy and communications networks.

In the electric power sector, Quanta works on transmission and distribution systems, substation construction and grid modernization projects that include integration of renewable generation and energy storage.