Robert W. Baird Raises Quanta Services (NYSE:PWR) Price Target to $287.00

Quanta Services (NYSE:PWR) had its price target raised by analysts at Robert W. Baird from $265.00 to $287.00 in a research note issued to investors on Friday, Benzinga reports. The firm currently has an “outperform” rating on the construction company’s stock. Robert W. Baird’s price target would suggest a potential upside of 11.97% from the stock’s previous close.

Other equities analysts also recently issued research reports about the company. TD Cowen boosted their price target on Quanta Services from $205.00 to $270.00 and gave the stock an “outperform” rating in a research report on Tuesday, February 27th. Truist Financial started coverage on Quanta Services in a research report on Thursday, March 14th. They set a “buy” rating and a $301.00 price target on the stock. Citigroup boosted their price target on Quanta Services from $275.00 to $285.00 and gave the stock a “buy” rating in a research report 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 report on Monday, February 26th. Finally, Evercore ISI initiated coverage on Quanta Services in a research report on Tuesday, February 13th. They issued an “outperform” rating and a $237.00 target price on the stock. Three analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $255.85.

Quanta Services Stock Performance

PWR opened at $256.33 on Friday. Quanta Services has a 52-week low of $153.74 and a 52-week high of $265.82. The firm has a market capitalization of $37.52 billion, a PE ratio of 49.68 and a beta of 1.10. The company has a debt-to-equity ratio of 0.50, a quick ratio of 1.44 and a current ratio of 1.36. The business’s 50-day simple moving average is $250.69 and its 200 day simple moving average is $214.68.

Quanta Services (NYSE:PWR) last released its earnings results on Thursday, February 22nd. The construction company reported $2.04 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.83 by $0.21. Quanta Services had a return on equity of 16.25% and a net margin of 3.57%. The business had revenue of $5.78 billion for the quarter, compared to analyst estimates of $5.19 billion. During the same quarter 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, sell-side analysts expect that Quanta Services will post 7.63 earnings per share for the current fiscal year.

Insider Activity at Quanta Services

In related news, EVP Derrick A. Jensen sold 18,500 shares of the business’s stock in a transaction that occurred 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 sale, the executive vice president now directly owns 263,725 shares in the company, valued at $62,476,452.50. The sale was disclosed in a filing with the SEC, which is available at this link. In other Quanta Services news, EVP Donald Wayne sold 8,842 shares of the company’s stock in a transaction on Monday, March 4th. The stock was sold at an average price of $242.27, for a total transaction of $2,142,151.34. Following the completion of the sale, the executive vice president now directly owns 44,129 shares in the company, valued at $10,691,132.83. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Derrick A. Jensen sold 18,500 shares of the company’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 sale, 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. Over the last ninety days, insiders sold 47,125 shares of company stock worth $11,270,215. Company insiders own 1.10% of the company’s stock.

Institutional Investors Weigh In On Quanta Services

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Truist Financial Corp lifted its stake in Quanta Services by 2.2% during the fourth quarter. Truist Financial Corp now owns 432,810 shares of the construction company’s stock worth $93,400,000 after purchasing an additional 9,421 shares during the last quarter. Carnegie Capital Asset Management LLC lifted its stake in Quanta Services by 24.5% during the fourth quarter. Carnegie Capital Asset Management LLC now owns 1,650 shares of the construction company’s stock worth $356,000 after purchasing an additional 325 shares during the last quarter. Gradient Investments LLC lifted its stake in shares of Quanta Services by 669,187.5% in the 4th quarter. Gradient Investments LLC now owns 53,543 shares of the construction company’s stock valued at $11,555,000 after acquiring an additional 53,535 shares during the last quarter. Saxon Interests Inc. bought a new position in shares of Quanta Services in the 4th quarter valued at $1,352,000. Finally, Nordea Investment Management AB lifted its stake in shares of Quanta Services by 8,297.7% in the 4th quarter. Nordea Investment Management AB now owns 912,413 shares of the construction company’s stock valued at $196,205,000 after acquiring an additional 901,548 shares during the last quarter. 90.49% of the stock is currently 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.