Quanta Services (NYSE:PWR) PT Raised to $250.00

Quanta Services (NYSE:PWR) had its target price lifted by analysts at DA Davidson from $225.00 to $250.00 in a research report issued on Tuesday, Benzinga reports. The firm presently has a “neutral” rating on the construction company’s stock. DA Davidson’s price objective indicates a potential downside of 5.61% from the stock’s current price. DA Davidson also issued estimates for Quanta Services’ FY2025 earnings at $8.54 EPS.

PWR has been the topic of a number of other reports. 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. Evercore ISI started coverage on Quanta Services in a research report on Tuesday, February 13th. They issued an “outperform” rating and a $237.00 price objective on the stock. Robert W. Baird lifted their price target on shares of Quanta Services from $265.00 to $287.00 and gave the stock an “outperform” rating in a research report on Friday, May 3rd. TD Cowen boosted their target price on Quanta Services from $205.00 to $270.00 and gave the stock an “outperform” rating in a research report on Tuesday, February 27th. Finally, Truist Financial reissued a “buy” rating and set a $305.00 price target (up from $301.00) on shares of Quanta Services in a research report on Monday. Three equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. Based on data from MarketBeat, Quanta Services presently has an average rating of “Moderate Buy” and a consensus target price of $262.00.

Quanta Services Trading Down 0.8 %

Shares of NYSE:PWR opened at $264.86 on Tuesday. Quanta Services has a 52-week low of $153.74 and a 52-week high of $271.96. The company has a debt-to-equity ratio of 0.50, a quick ratio of 1.32 and a current ratio of 1.36. The company has a market cap of $38.77 billion, a P/E ratio of 51.33 and a beta of 1.10. The stock’s 50-day moving average is $252.43 and its 200-day moving average is $216.74.

Quanta Services (NYSE:PWR) last issued its quarterly earnings results on Thursday, February 22nd. The construction company reported $2.04 EPS for the quarter, topping 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 during the quarter, compared to analyst estimates of $5.19 billion. During the same period in the previous year, the company earned $1.54 earnings per share. The company’s quarterly revenue was up 31.0% compared to the same quarter last year. Equities research analysts predict that Quanta Services will post 7.63 earnings per share for the current year.

Insider Activity

In related news, EVP Derrick A. Jensen sold 18,500 shares of the firm’s stock in a transaction on Tuesday, February 27th. The shares were 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 owns 263,725 shares of the company’s stock, valued at $62,476,452.50. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other news, EVP Derrick A. Jensen sold 18,500 shares of the stock in a transaction dated Tuesday, February 27th. The shares were 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 directly owns 263,725 shares in the company, valued at approximately $62,476,452.50. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, Director Worthing Jackman sold 9,572 shares of Quanta Services 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 directly owns 7,486 shares in the company, valued at approximately $1,776,502.66. The disclosure for this sale can be found here. Insiders have sold 47,125 shares of company stock worth $11,270,215 over the last ninety days. Insiders own 1.10% of the company’s stock.

Hedge Funds Weigh In On Quanta Services

Hedge funds and other institutional investors have recently made changes to their positions in the company. Artisan Partners Limited Partnership grew its position in shares of Quanta Services by 384.9% in the 4th quarter. Artisan Partners Limited Partnership now owns 2,438,653 shares of the construction company’s stock valued at $526,261,000 after acquiring an additional 1,935,786 shares during the period. Norges Bank bought a new position in Quanta Services during the fourth quarter worth about $335,777,000. Public Employees Retirement Association of Colorado raised its stake in Quanta Services by 20,298.9% in the fourth quarter. Public Employees Retirement Association of Colorado now owns 1,057,681 shares of the construction company’s stock valued at $228,248,000 after buying an additional 1,052,496 shares during the period. Nordea Investment Management AB lifted its position in shares of Quanta Services by 8,297.7% in the fourth quarter. Nordea Investment Management AB now owns 912,413 shares of the construction company’s stock valued at $196,205,000 after buying an additional 901,548 shares during the last quarter. Finally, Capital World Investors increased its holdings in shares of Quanta Services by 11.6% during the 4th quarter. Capital World Investors now owns 6,000,722 shares of the construction company’s stock worth $1,294,956,000 after acquiring an additional 624,545 shares during the last quarter. 90.49% of the stock is owned by institutional investors.

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.