Truist Financial Raises Quanta Services (NYSE:PWR) Price Target to $940.00

Quanta Services (NYSE:PWR) had its price target upped by analysts at Truist Financial from $851.00 to $940.00 in a research report issued to clients and investors on Thursday,Benzinga reports. The firm currently has a “buy” rating on the construction company’s stock. Truist Financial’s price target points to a potential upside of 35.84% from the company’s current price.

Several other analysts also recently weighed in on PWR. Zacks Research upgraded Quanta Services from a “hold” rating to a “strong-buy” rating in a research report on Friday, May 8th. Oppenheimer upgraded shares of Quanta Services from a “market perform” rating to an “outperform” rating and set a $800.00 target price on the stock in a report on Thursday, May 28th. TD Cowen upped their price target on shares of Quanta Services from $570.00 to $775.00 and gave the company a “buy” rating in a report on Monday, May 4th. Stifel Nicolaus set a $784.00 price target on shares of Quanta Services in a research report on Friday, May 1st. Finally, UBS Group raised their price target on shares of Quanta Services from $646.00 to $900.00 and gave the stock a “buy” rating in a report on Monday, May 4th. One equities research analyst has rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating and six have given a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $755.18.

Quanta Services Stock Performance

NYSE PWR opened at $692.00 on Thursday. The company has a 50-day simple moving average of $709.21 and a two-hundred day simple moving average of $580.41. Quanta Services has a 12-month low of $363.01 and a 12-month high of $788.75. The firm has a market cap of $103.84 billion, a price-to-earnings ratio of 94.92, a PEG ratio of 2.83 and a beta of 1.21. The company has a quick ratio of 1.09, a current ratio of 1.14 and a debt-to-equity ratio of 0.57.

Quanta Services (NYSE:PWR) last released its quarterly earnings data on Thursday, April 30th. The construction company reported $2.68 EPS for the quarter, topping the consensus estimate of $2.04 by $0.64. The firm had revenue of $7.87 billion for the quarter, compared to the consensus estimate of $7 billion. Quanta Services had a return on equity of 18.64% and a net margin of 3.67%.The company’s quarterly revenue was up 26.3% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.78 earnings per share. Quanta Services has set its FY 2026 guidance at 13.550-14.250 EPS. On average, equities analysts forecast that Quanta Services will post 12.81 EPS for the current year.

Quanta Services declared that its Board of Directors has approved a share repurchase plan on Friday, May 22nd that allows the company to buyback $1.00 billion in shares. This buyback authorization allows the construction company to buy up to 0.9% of its stock through open market purchases. Stock buyback plans are typically an indication that the company’s leadership believes its shares are undervalued.

Insiders Place Their Bets

In other Quanta Services news, CAO Paul Nobel sold 4,000 shares of the company’s stock in a transaction on Monday, May 4th. The shares were sold at an average price of $756.98, for a total value of $3,027,920.00. Following the completion of the transaction, the chief accounting officer directly owned 8,080 shares in the company, valued at approximately $6,116,398.40. This represents a 33.11% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Earl C. Jr. Austin sold 25,992 shares of the firm’s stock in a transaction dated Tuesday, May 5th. The stock was sold at an average price of $770.71, for a total transaction of $20,032,294.32. Following the completion of the sale, the chief executive officer directly owned 16,508 shares of the company’s stock, valued at approximately $12,722,880.68. This represents a 61.16% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 159,992 shares of company stock valued at $123,244,714 in the last ninety days. 0.60% of the stock is currently owned by insiders.

Institutional Trading of Quanta Services

Large investors have recently bought and sold shares of the company. Cedar Mountain Advisors LLC raised its position in shares of Quanta Services by 321.4% in the 4th quarter. Cedar Mountain Advisors LLC now owns 59 shares of the construction company’s stock worth $25,000 after acquiring an additional 45 shares in the last quarter. Darwin Wealth Management LLC purchased a new position in shares of Quanta Services in the 2nd quarter valued at approximately $26,000. Boreal Capital Management LLC bought a new stake in shares of Quanta Services during the first quarter valued at approximately $27,000. Flagship Harbor Advisors LLC purchased a new stake in Quanta Services in the fourth quarter worth $28,000. Finally, MV Capital Management Inc. bought a new position in Quanta Services in the fourth quarter worth $30,000. 90.49% of the stock is owned by institutional investors.

About Quanta Services

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.