Jefferies Financial Group Lowers Quanta Services (NYSE:PWR) Price Target to $506.00

Quanta Services (NYSE:PWR) had its price objective lowered by stock analysts at Jefferies Financial Group from $517.00 to $506.00 in a research note issued on Tuesday,MarketScreener reports. The brokerage currently has a “buy” rating on the construction company’s stock. Jefferies Financial Group’s price target would indicate a potential upside of 13.13% from the stock’s current price.

A number of other equities research analysts also recently issued reports on PWR. Weiss Ratings raised shares of Quanta Services from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Monday. Argus set a $540.00 target price on Quanta Services in a research report on Friday, October 31st. Citigroup raised their price target on Quanta Services from $517.00 to $526.00 and gave the stock a “buy” rating in a research report on Friday, October 31st. Roth Capital set a $500.00 price objective on Quanta Services and gave the company a “buy” rating in a report on Friday, October 31st. Finally, Sanford C. Bernstein lowered their target price on Quanta Services from $432.00 to $428.00 and set a “market perform” rating for the company in a report on Friday, December 19th. Fourteen research analysts have rated the stock with a Buy rating and ten have issued a Hold rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $449.57.

Quanta Services Trading Up 2.3%

NYSE:PWR traded up $10.21 on Tuesday, reaching $447.28. The company’s stock had a trading volume of 784,718 shares, compared to its average volume of 930,010. Quanta Services has a 12-month low of $227.08 and a 12-month high of $473.99. The stock has a 50 day moving average price of $440.57 and a 200 day moving average price of $415.11. The firm has a market cap of $66.70 billion, a price-to-earnings ratio of 66.26, a price-to-earnings-growth ratio of 2.15 and a beta of 1.16. The company has a quick ratio of 1.30, a current ratio of 1.34 and a debt-to-equity ratio of 0.66.

Quanta Services (NYSE:PWR) last issued its quarterly earnings data on Thursday, October 30th. The construction company reported $3.33 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.24 by $0.09. Quanta Services had a return on equity of 18.74% and a net margin of 3.74%.The firm had revenue of $7.63 billion during the quarter, compared to the consensus estimate of $7.41 billion. During the same period last year, the company earned $2.72 EPS. The company’s quarterly revenue was up 17.5% on a year-over-year basis. Quanta Services has set its FY 2025 guidance at 10.330-10.830 EPS. On average, equities analysts anticipate that Quanta Services will post 9.34 EPS for the current fiscal year.

Insider Buying and Selling

In related news, Director Worthing Jackman sold 6,349 shares of Quanta Services stock in a transaction that occurred on Wednesday, November 5th. The shares were sold at an average price of $450.45, for a total value of $2,859,907.05. Following the completion of the transaction, the director owned 2,730 shares in the company, valued at $1,229,728.50. The trade was a 69.93% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Bernard Fried sold 4,000 shares of the business’s 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 transaction, the director owned 12,493 shares of the company’s stock, valued at $5,649,209.67. This trade represents a 24.25% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders have sold 32,002 shares of company stock worth $14,295,857. 1.10% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Quanta Services

Institutional investors have recently modified their holdings of the company. PFG Private Wealth Management LLC purchased a new stake in Quanta Services during the 4th quarter worth about $341,000. LeConte Wealth Management LLC raised its position in shares of Quanta Services by 38.8% during the 4th quarter. LeConte Wealth Management LLC now owns 776 shares of the construction company’s stock worth $328,000 after acquiring an additional 217 shares in the last quarter. Guided Capital Wealth Management LLC lifted its stake in Quanta Services by 65.9% during the fourth quarter. Guided Capital Wealth Management LLC now owns 7,459 shares of the construction company’s stock worth $3,148,000 after purchasing an additional 2,962 shares during the last quarter. Silver Oak Securities Incorporated boosted its holdings in Quanta Services by 5.0% in the fourth quarter. Silver Oak Securities Incorporated now owns 801 shares of the construction company’s stock valued at $344,000 after purchasing an additional 38 shares in the last quarter. Finally, Jaffetilchin Investment Partners LLC increased its stake in Quanta Services by 11.2% in the fourth quarter. Jaffetilchin Investment Partners LLC now owns 2,553 shares of the construction company’s stock valued at $1,078,000 after purchasing an additional 258 shares during the last quarter. 90.49% of the stock is owned by hedge funds and other institutional investors.

Quanta Services Company Profile

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.