Quanta Services (NYSE:PWR) Rating Reiterated by Truist Financial

Truist Financial restated their buy rating on shares of Quanta Services (NYSE:PWR) in a report issued on Monday morning, Benzinga reports. Truist Financial currently has a $305.00 target price on the construction company’s stock, up from their previous target price of $301.00.

A number of other equities research analysts have also weighed in on PWR. Stifel Nicolaus lifted 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. Citigroup boosted 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. 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 note on Monday, February 26th. B. Riley boosted their price target on Quanta Services from $246.00 to $286.00 and gave the stock a buy rating in a research note on Friday, May 3rd. Finally, Robert W. Baird boosted their price target on Quanta Services from $265.00 to $287.00 and gave the stock an outperform rating in a research note on Friday, May 3rd. Three analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of Moderate Buy and a consensus price target of $262.00.

Quanta Services Price Performance

Shares of PWR opened at $264.86 on Monday. Quanta Services has a twelve month low of $153.74 and a twelve month high of $271.96. The stock’s 50 day moving average is $252.43 and its two-hundred day moving average is $216.74. The firm has a market capitalization of $38.77 billion, a PE ratio of 51.33 and a beta of 1.10. The company has a current ratio of 1.36, a quick ratio of 1.32 and a debt-to-equity ratio of 0.50.

Quanta Services (NYSE:PWR) last announced its quarterly earnings data on Thursday, February 22nd. The construction company reported $2.04 earnings per share for the quarter, beating analysts’ consensus estimates of $1.83 by $0.21. Quanta Services had a return on equity of 16.25% and a net margin of 3.57%. The company had revenue of $5.78 billion for the quarter, compared to analyst estimates of $5.19 billion. During the same quarter in the previous year, the company earned $1.54 EPS. The firm’s revenue for the quarter was up 31.0% compared to the same quarter last year. Research analysts anticipate that Quanta Services will post 7.63 earnings per share for the current year.

Quanta Services Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, April 17th. Investors of record on Tuesday, April 9th were given a dividend of $0.09 per share. The ex-dividend date was Monday, April 8th. This represents a $0.36 annualized dividend and a dividend yield of 0.14%. Quanta Services’s dividend payout ratio is currently 6.98%.

Insider Buying and Selling at Quanta Services

In other Quanta Services news, EVP Derrick A. Jensen sold 18,500 shares of the business’s 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 directly owns 263,725 shares in the company, valued at approximately $62,476,452.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other Quanta Services news, EVP Derrick A. Jensen sold 18,500 shares of the business’s 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 directly owns 263,725 shares in the company, valued at approximately $62,476,452.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Margaret B. Shannon sold 8,515 shares of the business’s stock in a transaction on Friday, March 1st. The shares were sold at an average price of $239.92, for a total value of $2,042,918.80. Following the completion of the transaction, the director now owns 34,063 shares of the company’s stock, valued at $8,172,394.96. The disclosure for this sale can be found here. In the last three months, insiders sold 47,125 shares of company stock worth $11,270,215. Insiders own 1.10% of the company’s stock.

Institutional Trading of Quanta Services

Institutional investors have recently made changes to their positions in the stock. Wedmont Private Capital boosted its position in Quanta Services by 1.0% during the 1st quarter. Wedmont Private Capital now owns 4,674 shares of the construction company’s stock worth $1,198,000 after purchasing an additional 47 shares during the period. Hazlett Burt & Watson Inc. boosted its position in Quanta Services by 47.3% during the 4th 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. Checchi Capital Advisers LLC boosted its position in Quanta Services by 4.6% during the 4th quarter. Checchi Capital Advisers LLC now owns 1,367 shares of the construction company’s stock worth $295,000 after purchasing an additional 60 shares during the period. Tower Wealth Partners Inc. boosted its position in Quanta Services by 6.3% during the 1st quarter. Tower Wealth Partners Inc. now owns 1,040 shares of the construction company’s stock worth $270,000 after purchasing an additional 62 shares during the period. Finally, Wellington Shields Capital Management LLC boosted its position in Quanta Services by 0.4% during the 1st quarter. Wellington Shields Capital Management LLC now owns 18,599 shares of the construction company’s stock worth $4,832,000 after purchasing an additional 65 shares during the period. 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.