Evercore ISI Raises Quanta Services (NYSE:PWR) Price Target to $288.00

Quanta Services (NYSE:PWR - Get Free Report) had its price target increased by research analysts at Evercore ISI from $255.00 to $288.00 in a research note issued on Tuesday, Benzinga reports. The firm currently has an "outperform" rating on the construction company's stock. Evercore ISI's target price would indicate a potential upside of 7.92% from the company's previous close.

A number of other analysts have also weighed in on PWR. The Goldman Sachs Group increased their price objective on Quanta Services from $227.00 to $259.00 and gave the company a "buy" rating in a research note on Monday, February 26th. Stifel Nicolaus raised their price target on shares of Quanta Services from $237.00 to $252.00 and gave the stock a "buy" rating in a report on Friday, February 23rd. Truist Financial reaffirmed a "buy" rating and set a $305.00 price objective (up from $301.00) on shares of Quanta Services in a research note on Monday. B. Riley raised their target price on Quanta Services from $246.00 to $286.00 and gave the stock a "buy" rating in a research note on Friday. Finally, Citigroup upped their price target on Quanta Services from $275.00 to $285.00 and gave the company a "buy" rating in a research report on Monday, April 22nd. Three investment analysts have rated the stock with a hold rating and ten have given a buy rating to the company's stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $262.00.

Quanta Services Trading Down 1.0 %

Shares of Quanta Services stock traded down $2.64 during trading on Tuesday, reaching $266.86. The company's stock had a trading volume of 1,116,639 shares, compared to its average volume of 941,909. The company has a market cap of $39.07 billion, a price-to-earnings ratio of 52.19 and a beta of 1.10. The firm's 50-day moving average is $251.36 and its two-hundred day moving average is $215.69. Quanta Services has a 52-week low of $153.74 and a 52-week high of $271.96. The company has a quick ratio of 1.32, a current ratio of 1.36 and a debt-to-equity ratio of 0.50.

Quanta Services (NYSE:PWR - Get Free Report) last posted its quarterly earnings results on Thursday, February 22nd. The construction company reported $2.04 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.83 by $0.21. The business had revenue of $5.78 billion during the quarter, compared to analyst estimates of $5.19 billion. Quanta Services had a net margin of 3.57% and a return on equity of 16.25%. The company's revenue was up 31.0% on a year-over-year basis. During the same period in the prior year, the business posted $1.54 earnings per share. On average, sell-side analysts anticipate that Quanta Services will post 7.63 earnings per share for the current year.

Insider Buying and Selling

In related news, EVP Derrick A. Jensen sold 18,500 shares of the business's stock in a transaction dated 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 sale, the executive vice president now owns 263,725 shares of the company's stock, valued at $62,476,452.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, EVP Derrick A. Jensen sold 18,500 shares of the firm's stock in a transaction that occurred on Tuesday, February 27th. The stock was sold at an average price of $236.90, for a total transaction of $4,382,650.00. Following the completion of the transaction, the executive vice president now owns 263,725 shares of the company's stock, valued at approximately $62,476,452.50. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, EVP Donald Wayne sold 8,842 shares of the business's stock in a transaction on Monday, March 4th. The stock was sold at an average price of $242.27, for a total value of $2,142,151.34. Following the completion of the sale, the executive vice president now directly owns 44,129 shares in the company, valued at $10,691,132.83. The disclosure for this sale can be found here. Insiders sold a total of 47,125 shares of company stock worth $11,270,215 in the last three months. 1.10% of the stock is owned by corporate insiders.

Institutional Trading of Quanta Services

Institutional investors and hedge funds have recently bought and sold shares of the company. Vanguard Group Inc. increased its position in shares of Quanta Services by 1.2% during the fourth quarter. Vanguard Group Inc. now owns 16,235,875 shares of the construction company's stock valued at $3,503,702,000 after acquiring an additional 191,334 shares in the last quarter. Capital World Investors increased its holdings in shares of Quanta Services by 11.6% in the 4th quarter. Capital World Investors now owns 6,000,722 shares of the construction company's stock worth $1,294,956,000 after purchasing an additional 624,545 shares in the last quarter. FMR LLC raised its stake in shares of Quanta Services by 1.1% in the third quarter. FMR LLC now owns 4,229,280 shares of the construction company's stock worth $791,171,000 after purchasing an additional 44,141 shares during the last quarter. Artisan Partners Limited Partnership lifted its holdings in shares of Quanta Services by 384.9% during the fourth 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 purchased a new stake in shares of Quanta Services during the fourth quarter valued at $335,777,000. 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.