Quanta Services (NYSE:PWR) Research Coverage Started at Wolfe Research

Wolfe Research started coverage on shares of Quanta Services (NYSE:PWR) in a report published on Thursday morning, Marketbeat Ratings reports. The brokerage issued an outperform rating and a $313.00 price target on the construction company’s stock.

A number of other brokerages have also commented on PWR. Truist Financial restated a buy rating and set a $319.00 price objective (up from $305.00) on shares of Quanta Services in a report on Monday, August 5th. Citigroup raised their price objective on shares of Quanta Services from $299.00 to $302.00 and gave the stock a buy rating in a report on Monday, July 22nd. B. Riley raised their price objective on shares of Quanta Services from $286.00 to $303.00 and gave the stock a buy rating in a report on Friday, August 2nd. Robert W. Baird raised their price objective on shares of Quanta Services from $287.00 to $288.00 and gave the stock an outperform rating in a report on Friday, July 19th. Finally, The Goldman Sachs Group raised their price objective on shares of Quanta Services from $259.00 to $286.00 and gave the stock a buy rating in a report on Tuesday, May 28th. Four analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to MarketBeat.com, Quanta Services presently has a consensus rating of Moderate Buy and a consensus target price of $286.69.

Quanta Services Trading Up 0.4 %

Shares of NYSE PWR opened at $290.89 on Thursday. The company’s fifty day moving average is $262.17 and its 200-day moving average is $261.57. The stock has a market cap of $42.58 billion, a price-to-earnings ratio of 56.37 and a beta of 1.01. Quanta Services has a twelve month low of $153.74 and a twelve month high of $293.80. The company has a quick ratio of 1.25, a current ratio of 1.30 and a debt-to-equity ratio of 0.45.

Quanta Services (NYSE:PWR) last announced its quarterly earnings results on Thursday, August 1st. The construction company reported $1.90 earnings per share for the quarter, topping analysts’ consensus estimates of $1.75 by $0.15. The company had revenue of $5.59 billion for the quarter, compared to analysts’ expectations of $5.51 billion. Quanta Services had a net margin of 3.59% and a return on equity of 16.29%. The business’s quarterly revenue was up 10.8% compared to the same quarter last year. During the same period last year, the firm posted $1.47 earnings per share. Equities research analysts predict that Quanta Services will post 7.82 EPS for the current year.

Quanta Services Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 11th. Stockholders of record on Tuesday, October 1st will be paid a dividend of $0.09 per share. The ex-dividend date is Tuesday, October 1st. This represents a $0.36 annualized dividend and a dividend yield of 0.12%. Quanta Services’s dividend payout ratio is presently 6.98%.

Insider Transactions at Quanta Services

In other news, insider Gerald A. Ducey, Jr. sold 15,000 shares of the business’s stock in a transaction dated Friday, August 9th. The shares were sold at an average price of $257.93, for a total transaction of $3,868,950.00. Following the transaction, the insider now directly owns 21,286 shares in the company, valued at approximately $5,490,297.98. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, insider Gerald A. Ducey, Jr. sold 15,000 shares of Quanta Services stock in a transaction dated Friday, August 9th. The shares were sold at an average price of $257.93, for a total transaction of $3,868,950.00. Following the completion of the sale, the insider now owns 21,286 shares of the company’s stock, valued at approximately $5,490,297.98. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Karl W. Studer sold 23,357 shares of Quanta Services stock in a transaction dated Wednesday, August 21st. The stock was sold at an average price of $270.51, for a total transaction of $6,318,302.07. Following the sale, the insider now directly owns 10,631 shares of the company’s stock, valued at approximately $2,875,791.81. The disclosure for this sale can be found here. Insiders have sold 202,357 shares of company stock worth $53,115,572 in the last ninety days. Insiders own 1.10% of the company’s stock.

Institutional Trading of Quanta Services

Several hedge funds and other institutional investors have recently modified their holdings of PWR. Electron Capital Partners LLC boosted its holdings in shares of Quanta Services by 395.1% during the 2nd quarter. Electron Capital Partners LLC now owns 2,622,142 shares of the construction company’s stock worth $666,260,000 after buying an additional 2,092,519 shares during the period. Artisan Partners Limited Partnership boosted its holdings 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 purchasing an additional 1,935,786 shares during the period. Public Employees Retirement Association of Colorado boosted its holdings in Quanta Services by 20,298.9% in the 4th 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 purchasing an additional 1,052,496 shares during the period. Swedbank AB bought a new stake in Quanta Services in the 1st quarter valued at about $227,218,000. Finally, Capital World Investors boosted its holdings in Quanta Services by 10.7% in the 1st quarter. Capital World Investors now owns 6,643,733 shares of the construction company’s stock valued at $1,726,042,000 after purchasing an additional 643,011 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.