Citigroup Increases Quanta Services (NYSE:PWR) Price Target to $285.00

Quanta Services (NYSE:PWR) had its target price increased by analysts at Citigroup from $275.00 to $285.00 in a research note issued to investors on Monday, Benzinga reports. The firm presently has a “buy” rating on the construction company’s stock. Citigroup’s price target would indicate a potential upside of 13.12% from the company’s previous close.

Several other analysts have also commented on the company. TD Cowen boosted their price target on Quanta Services from $205.00 to $270.00 and gave the company an “outperform” rating in a research note on Tuesday, February 27th. KeyCorp started coverage on shares of Quanta Services in a report on Wednesday, January 10th. They issued a “sector weight” rating on the stock. Stifel Nicolaus lifted their price target on shares of Quanta Services from $237.00 to $252.00 and gave the company a “buy” rating in a report on Friday, February 23rd. DA Davidson boosted their price target on shares of Quanta Services from $190.00 to $225.00 and gave the company a “neutral” rating in a research report on Wednesday, February 28th. Finally, Truist Financial began coverage on shares of Quanta Services in a report on Thursday, March 14th. They set a “buy” rating and a $301.00 price objective for the company. Three analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Quanta Services presently has an average rating of “Moderate Buy” and an average target price of $243.23.

Quanta Services Price Performance

Shares of PWR stock opened at $251.95 on Monday. Quanta Services has a 12 month low of $153.74 and a 12 month high of $265.82. The company has a market capitalization of $36.88 billion, a P/E ratio of 50.29 and a beta of 1.11. The stock has a 50 day moving average of $243.37 and a two-hundred day moving average of $209.86. The company has a current ratio of 1.47, a quick ratio of 1.44 and a debt-to-equity ratio of 0.58.

Quanta Services (NYSE:PWR) last issued its earnings results on Thursday, February 22nd. The construction company reported $2.04 EPS for the quarter, beating analysts’ consensus estimates of $1.83 by $0.21. Quanta Services had a return on equity of 16.46% and a net margin of 3.57%. The business had revenue of $5.78 billion during the quarter, compared to analyst estimates of $5.19 billion. During the same period in the prior year, the company posted $1.54 earnings per share. Quanta Services’s revenue was up 31.0% on a year-over-year basis. As a group, equities analysts expect that Quanta Services will post 7.63 EPS for the current year.

Insider Transactions at Quanta Services

In other Quanta Services news, EVP Donald Wayne sold 1,101 shares of the business’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 sale, the executive vice president now directly owns 40,065 shares of the company’s stock, valued at approximately $10,494,626.10. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other Quanta Services news, EVP Donald Wayne sold 1,101 shares of the stock in a transaction dated Wednesday, March 27th. The stock was sold at an average price of $261.94, for a total value of $288,395.94. Following the transaction, the executive vice president now owns 40,065 shares of the company’s stock, valued at $10,494,626.10. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, EVP Derrick A. Jensen sold 18,500 shares of the business’s stock in a transaction dated 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 transaction, the executive vice president now owns 263,725 shares of the company’s stock, valued at $62,476,452.50. The disclosure for this sale can be found here. Insiders sold a total of 47,125 shares of company stock worth $11,270,215 over the last 90 days. 1.20% of the stock is owned by insiders.

Institutional Trading of Quanta Services

A number of large investors have recently made changes to their positions in the company. Vanguard Group Inc. increased its stake in Quanta Services by 1.2% during the 4th quarter. Vanguard Group Inc. now owns 16,235,875 shares of the construction company’s stock worth $3,503,702,000 after purchasing an additional 191,334 shares in the last quarter. Capital World Investors increased its position in shares of Quanta Services by 11.6% during the fourth 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 in the last quarter. FMR LLC raised its holdings in shares of Quanta Services by 1.1% during the third quarter. FMR LLC now owns 4,229,280 shares of the construction company’s stock worth $791,171,000 after acquiring an additional 44,141 shares during the period. Artisan Partners Limited Partnership lifted its position in 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 in the last quarter. Finally, Norges Bank acquired a new position in Quanta Services in the 4th quarter worth $335,777,000. Institutional investors own 90.49% of the company’s stock.

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.