Northland Securities Reiterates Outperform Rating for Quanta Services (NYSE:PWR)

Quanta Services (NYSE:PWR)‘s stock had its “outperform” rating reiterated by equities researchers at Northland Securities in a research note issued to investors on Friday, Benzinga reports. They currently have a $328.00 price target on the construction company’s stock, up from their previous price target of $280.00. Northland Securities’ price target points to a potential upside of 8.07% from the stock’s previous close.

Several other brokerages also recently commented on PWR. UBS Group raised their target price on Quanta Services from $313.00 to $367.00 and gave the company a “buy” rating in a report on Wednesday, October 23rd. Truist Financial lifted their price objective on shares of Quanta Services from $319.00 to $358.00 and gave the company a “buy” rating in a research note on Wednesday, October 9th. TD Cowen upped their target price on shares of Quanta Services from $280.00 to $335.00 and gave the company a “buy” rating in a research note on Tuesday, October 15th. JPMorgan Chase & Co. assumed coverage on shares of Quanta Services in a research note on Monday, October 7th. They set a “neutral” rating and a $297.00 price target on the stock. Finally, Citigroup upped their price objective on shares of Quanta Services from $302.00 to $348.00 and gave the company a “buy” rating in a research report on Friday, October 4th. Four research analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $314.27.

Quanta Services Trading Up 0.6 %

NYSE PWR opened at $303.50 on Friday. The company has a debt-to-equity ratio of 0.58, a quick ratio of 1.25 and a current ratio of 1.23. Quanta Services has a one year low of $163.93 and a one year high of $317.91. The company’s 50 day moving average price is $290.40 and its 200 day moving average price is $272.68. The firm has a market capitalization of $44.71 billion, a price-to-earnings ratio of 56.00 and a beta of 1.01.

Quanta Services (NYSE:PWR) last posted its earnings results on Thursday, October 31st. The construction company reported $2.72 earnings per share for the quarter, beating the consensus estimate of $2.46 by $0.26. Quanta Services had a net margin of 3.54% and a return on equity of 16.71%. The business had revenue of $6.49 billion for the quarter, compared to analyst estimates of $6.56 billion. During the same quarter in the previous year, the business posted $2.08 EPS. The business’s quarterly revenue was up 15.5% on a year-over-year basis. On average, sell-side analysts predict that Quanta Services will post 7.82 EPS for the current year.

Insiders Place Their Bets

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 sale, the insider now directly owns 21,286 shares of the company’s stock, valued at approximately $5,490,297.98. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other news, insider Karl W. Studer sold 23,357 shares of the company’s stock in a transaction that occurred on 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 directly owns 10,631 shares of the company’s stock, valued at approximately $2,875,791.81. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Gerald A. Ducey, Jr. sold 15,000 shares of the stock in a transaction that occurred on Friday, August 9th. The stock was sold at an average price of $257.93, for a total value of $3,868,950.00. Following the sale, the insider now owns 21,286 shares in the company, valued at $5,490,297.98. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 202,357 shares of company stock valued at $53,115,572 over the last 90 days. 1.10% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in PWR. EntryPoint Capital LLC bought a new position in shares of Quanta Services during the first quarter worth about $25,000. Salomon & Ludwin LLC acquired a new position in Quanta Services during the 1st quarter valued at about $26,000. Cambridge Trust Co. bought a new position in Quanta Services in the 1st quarter worth about $26,000. Valley Wealth Managers Inc. acquired a new stake in shares of Quanta Services in the second quarter valued at approximately $33,000. Finally, Quest Partners LLC bought a new stake in shares of Quanta Services during the second quarter valued at approximately $35,000. 90.49% of the stock is currently owned by institutional investors.

About Quanta Services

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.