Quanta Services’ (PWR) “Buy” Rating Reiterated at Truist Financial

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

Other analysts have also recently issued research reports about the stock. Citigroup boosted their price objective on shares of Quanta Services from $275.00 to $285.00 and gave the stock a buy rating in a research note on Monday, April 22nd. TD Cowen raised their price target on shares of Quanta Services from $205.00 to $270.00 and gave the stock an outperform rating in a report on Tuesday, February 27th. B. Riley boosted their price target on shares of Quanta Services from $246.00 to $286.00 and gave the company a buy rating in a research note on Friday, May 3rd. Robert W. Baird upped their price target on Quanta Services from $265.00 to $287.00 and gave the stock an outperform rating in a report on Friday, May 3rd. Finally, Stifel Nicolaus lifted their target price on shares of Quanta Services from $237.00 to $252.00 and gave the stock a buy rating in a research report on Friday, February 23rd. Three investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. According to data from MarketBeat.com, Quanta Services has a consensus rating of Moderate Buy and an average target price of $262.00.

Quanta Services Price Performance

Quanta Services stock opened at $270.42 on Monday. The firm has a market cap of $39.59 billion, a PE ratio of 52.41 and a beta of 1.10. The stock’s fifty day moving average price is $253.02 and its two-hundred day moving average price is $217.12. Quanta Services has a one year low of $153.74 and a one year high of $271.96. The company has a debt-to-equity ratio of 0.50, a current ratio of 1.36 and a quick ratio of 1.32.

Quanta Services (NYSE:PWR) last posted its 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. The firm had revenue of $5.78 billion during the quarter, compared to analysts’ expectations of $5.19 billion. Quanta Services had a net margin of 3.57% and a return on equity of 16.25%. The business’s revenue for the quarter was up 31.0% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.54 earnings per share. As a group, research analysts expect that Quanta Services will post 7.63 EPS for the current fiscal year.

Quanta Services Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, April 17th. Investors of record on Tuesday, April 9th were paid a $0.09 dividend. The ex-dividend date of this dividend was Monday, April 8th. This represents a $0.36 dividend on an annualized basis and a yield of 0.13%. Quanta Services’s dividend payout ratio is presently 6.98%.

Insider Transactions at Quanta Services

In other news, EVP Derrick A. Jensen sold 18,500 shares of the business’s stock in a transaction that occurred 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 sale, 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 document filed with the SEC, which is available at this hyperlink. In other news, Director Worthing Jackman sold 9,572 shares of the stock in a transaction that occurred on Wednesday, February 28th. The stock was sold at an average price of $237.31, for a total transaction of $2,271,531.32. Following the completion of the sale, the director now owns 7,486 shares of the company’s stock, valued at $1,776,502.66. The transaction was disclosed in a legal filing with the SEC, which is accessible 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 shares were sold at an average price of $236.90, for a total transaction 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. In the last three months, insiders sold 47,125 shares of company stock worth $11,270,215. 1.10% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Quanta Services

A number of large investors have recently added to or reduced their stakes in the company. Great Lakes Retirement Inc. grew its stake in shares of Quanta Services by 1.1% in the first quarter. Great Lakes Retirement Inc. now owns 11,996 shares of the construction company’s stock worth $3,117,000 after purchasing an additional 132 shares during the last quarter. Element Capital Management LLC bought a new stake in shares of Quanta Services in the 1st quarter worth approximately $1,799,000. Orion Portfolio Solutions LLC increased its stake in shares of Quanta Services by 0.8% during the first quarter. Orion Portfolio Solutions LLC now owns 13,564 shares of the construction company’s stock valued at $3,524,000 after buying an additional 113 shares during the period. Blair William & Co. IL raised its holdings in shares of Quanta Services by 3.0% during the first quarter. Blair William & Co. IL now owns 23,091 shares of the construction company’s stock valued at $5,999,000 after acquiring an additional 665 shares in the last quarter. Finally, Picton Mahoney Asset Management lifted its stake in Quanta Services by 2.0% in the first quarter. Picton Mahoney Asset Management now owns 71,492 shares of the construction company’s stock worth $18,574,000 after acquiring an additional 1,400 shares during the period. Institutional investors own 90.49% of the company’s stock.

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.