TD Cowen Raises Quanta Services (NYSE:PWR) Price Target to $335.00

Quanta Services (NYSE:PWR) had its price objective boosted by TD Cowen from $280.00 to $335.00 in a research note published on Tuesday morning, MarketBeat.com reports. They currently have a buy rating on the construction company’s stock.

Other equities research analysts have also issued research reports about the stock. JPMorgan Chase & Co. initiated coverage on shares of Quanta Services in a research report on Monday, October 7th. They issued a “neutral” rating and a $297.00 price objective for the company. Stifel Nicolaus increased their price objective on shares of Quanta Services from $283.00 to $342.00 and gave the stock a “buy” rating in a research report on Thursday, October 10th. Citigroup increased their price objective on shares of Quanta Services from $302.00 to $348.00 and gave the stock a “buy” rating in a research report on Friday, October 4th. Robert W. Baird increased their price objective on shares of Quanta Services from $287.00 to $288.00 and gave the stock an “outperform” rating in a research report on Friday, July 19th. Finally, Wolfe Research initiated coverage on shares of Quanta Services in a research report on Thursday, September 19th. They issued an “outperform” rating and a $313.00 price objective for the company. Four research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to MarketBeat.com, Quanta Services has an average rating of “Moderate Buy” and an average price target of $303.86.

Quanta Services Stock Performance

NYSE:PWR opened at $313.14 on Tuesday. The firm has a 50 day simple moving average of $279.62 and a 200-day simple moving average of $268.35. The company has a debt-to-equity ratio of 0.45, a current ratio of 1.30 and a quick ratio of 1.25. The firm has a market cap of $45.84 billion, a PE ratio of 60.69 and a beta of 1.01. Quanta Services has a 1-year low of $153.74 and a 1-year high of $316.28.

Quanta Services (NYSE:PWR) last posted its quarterly earnings data on Thursday, August 1st. The construction company reported $1.90 earnings per share for the quarter, beating analysts’ consensus estimates of $1.75 by $0.15. The business had revenue of $5.59 billion during the quarter, compared to analyst estimates of $5.51 billion. Quanta Services had a net margin of 3.59% and a return on equity of 16.29%. The company’s revenue was up 10.8% on a year-over-year basis. During the same quarter in the previous year, the business posted $1.47 earnings per share. On average, equities analysts expect that Quanta Services will post 7.81 EPS for the current year.

Quanta Services Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, October 11th. Shareholders of record on Tuesday, October 1st were paid a dividend of $0.09 per share. The ex-dividend date of this dividend was Tuesday, October 1st. This represents a $0.36 dividend on an annualized basis and a yield of 0.11%. Quanta Services’s dividend payout ratio (DPR) is 6.98%.

Insider Buying and Selling at Quanta Services

In other Quanta Services news, insider Gerald A. Ducey, Jr. sold 15,000 shares of the stock in a transaction on 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 $5,490,297.98. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. In other Quanta Services news, insider Gerald A. Ducey, Jr. sold 15,000 shares of the stock in a transaction on 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 $5,490,297.98. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Karl W. Studer sold 23,357 shares of the firm’s 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 completion of the transaction, the insider now owns 10,631 shares in the company, valued at approximately $2,875,791.81. The trade was a 0.00 % decrease in their ownership of the stock. 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. 1.10% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the business. Stratos Wealth Advisors LLC lifted its position in shares of Quanta Services by 8.5% in the 3rd quarter. Stratos Wealth Advisors LLC now owns 3,645 shares of the construction company’s stock worth $1,087,000 after buying an additional 285 shares during the last quarter. Stratos Wealth Partners LTD. lifted its position in shares of Quanta Services by 2.7% in the 3rd quarter. Stratos Wealth Partners LTD. now owns 27,720 shares of the construction company’s stock worth $8,265,000 after buying an additional 721 shares during the last quarter. V Square Quantitative Management LLC lifted its position in shares of Quanta Services by 20.4% in the 3rd quarter. V Square Quantitative Management LLC now owns 2,884 shares of the construction company’s stock worth $860,000 after buying an additional 489 shares during the last quarter. Onyx Bridge Wealth Group LLC acquired a new stake in shares of Quanta Services in the 3rd quarter worth about $357,000. Finally, Sumitomo Mitsui DS Asset Management Company Ltd increased its holdings in shares of Quanta Services by 18.7% in the 3rd quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 29,424 shares of the construction company’s stock worth $8,773,000 after acquiring an additional 4,630 shares during the period. 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.