Citigroup Increases Quanta Services (NYSE:PWR) Price Target to $285.00

Quanta Services (NYSE:PWR - Get Free Report) had its price target raised by investment analysts at Citigroup from $275.00 to $285.00 in a note issued to investors on Monday, Benzinga reports. The brokerage currently has a "buy" rating on the construction company's stock. Citigroup's target price suggests a potential upside of 16.07% from the company's previous close.

Other analysts have also recently issued reports about the company. KeyCorp assumed coverage on Quanta Services in a report on Wednesday, January 10th. They issued a "sector weight" rating on the stock. The Goldman Sachs Group raised their price objective on Quanta Services from $227.00 to $259.00 and gave the company a "buy" rating in a report on Monday, February 26th. Stifel Nicolaus lifted their price objective on Quanta Services from $237.00 to $252.00 and gave the stock a "buy" rating in a research report on Friday, February 23rd. Truist Financial assumed coverage on Quanta Services in a research note on Thursday, March 14th. They set a "buy" rating and a $301.00 price objective for the company. Finally, TD Cowen upped their price objective on Quanta Services from $205.00 to $270.00 and gave the company an "outperform" rating in a research report on Tuesday, February 27th. Three investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. Based on data from MarketBeat, Quanta Services currently has an average rating of "Moderate Buy" and a consensus target price of $243.23.

Quanta Services Stock Performance

Quanta Services stock traded up $2.28 on Monday, hitting $245.54. The company's stock had a trading volume of 739,805 shares, compared to its average volume of 924,825. Quanta Services has a one year low of $153.74 and a one year high of $265.82. The company has a quick ratio of 1.44, a current ratio of 1.47 and a debt-to-equity ratio of 0.58. The company has a fifty day moving average price of $243.37 and a 200-day moving average price of $209.86. The firm has a market cap of $35.94 billion, a P/E ratio of 49.01 and a beta of 1.11.

Quanta Services (NYSE:PWR - Get Free Report) last posted its earnings results on Thursday, February 22nd. The construction company reported $2.04 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.83 by $0.21. Quanta Services had a return on equity of 16.46% and a net margin of 3.57%. The business had revenue of $5.78 billion during the quarter, compared to analysts' expectations of $5.19 billion. During the same period in the prior year, the business earned $1.54 EPS. Quanta Services's revenue for the quarter was up 31.0% compared to the same quarter last year. On average, equities analysts anticipate that Quanta Services will post 7.63 earnings per share for the current year.

Insider Activity at Quanta Services

In related news, EVP Donald Wayne sold 595 shares of the company's stock in a transaction that occurred on Tuesday, March 12th. The shares were sold at an average price of $239.61, for a total value of $142,567.95. Following the completion of the sale, the executive vice president now owns 41,954 shares in the company, valued at approximately $10,052,597.94. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other news, EVP Derrick A. Jensen sold 18,500 shares of Quanta Services stock in a transaction that occurred 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 completion of the sale, the executive vice president now owns 263,725 shares in the company, valued at approximately $62,476,452.50. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, EVP Donald Wayne sold 595 shares of the business's stock in a transaction that occurred on Tuesday, March 12th. The shares were sold at an average price of $239.61, for a total transaction of $142,567.95. Following the transaction, the executive vice president now owns 41,954 shares of the company's stock, valued at approximately $10,052,597.94. The disclosure for this sale can be found here. Insiders sold a total of 47,125 shares of company stock valued at $11,270,215 in the last quarter. Insiders own 1.10% of the company's stock.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in PWR. Vanguard Group Inc. grew its stake in Quanta Services by 1.2% during the fourth quarter. Vanguard Group Inc. now owns 16,235,875 shares of the construction company's stock worth $3,503,702,000 after buying an additional 191,334 shares in the last quarter. Capital World Investors grew its stake in Quanta Services by 11.6% during the fourth quarter. Capital World Investors now owns 6,000,722 shares of the construction company's stock worth $1,294,956,000 after buying an additional 624,545 shares in the last quarter. FMR LLC grew its stake in Quanta Services by 1.1% during the third quarter. FMR LLC now owns 4,229,280 shares of the construction company's stock worth $791,171,000 after buying an additional 44,141 shares in the last quarter. Artisan Partners Limited Partnership boosted its stake in shares of 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 in the last quarter. Finally, Norges Bank acquired a new stake in shares of Quanta Services in the 4th quarter valued at approximately $335,777,000. Institutional investors and hedge funds 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.