Quanta Services, Inc. (NYSE:PWR) Receives $239.54 Average Target Price from Brokerages

Quanta Services, Inc. (NYSE:PWR - Get Free Report) has earned an average recommendation of "Moderate Buy" from the eleven analysts that are currently covering the firm, MarketBeat.com reports. Two analysts have rated the stock with a hold recommendation and nine have assigned a buy recommendation to the company. The average twelve-month target price among brokers that have issued a report on the stock in the last year is $239.54.

PWR has been the topic of several recent research reports. Evercore ISI initiated coverage on shares of Quanta Services in a research note on Tuesday, February 13th. They set an "outperform" rating and a $237.00 target price on the stock. Citigroup lifted their target price on shares of Quanta Services from $234.00 to $237.00 and gave the stock a "buy" rating in a research note on Friday, January 26th. Truist Financial began coverage on Quanta Services in a report on Thursday, March 14th. They set a "buy" rating and a $301.00 price target on the stock. DA Davidson lifted their price target on Quanta Services from $190.00 to $225.00 and gave the stock a "neutral" rating in a report on Wednesday, February 28th. Finally, KeyCorp began coverage on Quanta Services in a report on Wednesday, January 10th. They set a "sector weight" rating on the stock.

Quanta Services Price Performance

Quanta Services stock traded down $3.31 during trading on Friday, reaching $254.69. The company had a trading volume of 632,500 shares, compared to its average volume of 756,216. The firm's 50-day simple moving average is $238.74 and its 200 day simple moving average is $206.93. Quanta Services has a 1-year low of $153.74 and a 1-year high of $265.82. The firm has a market capitalization of $37.12 billion, a PE ratio of 50.84 and a beta of 1.11. The company has a debt-to-equity ratio of 0.58, a quick ratio of 1.44 and a current ratio of 1.47.

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

Quanta Services Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, April 17th. Investors of record on Tuesday, April 9th will be issued a $0.09 dividend. This represents a $0.36 dividend on an annualized basis and a yield of 0.14%. The ex-dividend date is Monday, April 8th. Quanta Services's dividend payout ratio (DPR) is 7.19%.

Insider Buying and Selling at Quanta Services

In other Quanta Services news, EVP Donald Wayne sold 595 shares of the business's stock in a transaction that occurred on Tuesday, March 12th. The stock was 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 $10,052,597.94. The sale was disclosed in a document filed with the SEC, which is available through this link. In other news, EVP Derrick A. Jensen sold 18,500 shares of the company'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 sale, the executive vice president now owns 263,725 shares in the company, valued at $62,476,452.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Donald Wayne sold 595 shares of the company's stock in a transaction that occurred on Tuesday, March 12th. The stock was sold at an average price of $239.61, for a total value of $142,567.95. Following the sale, 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. Over the last quarter, insiders sold 47,125 shares of company stock worth $11,270,215. 1.20% of the stock is owned by insiders.

Institutional Investors Weigh In On Quanta Services

Several large investors have recently modified their holdings of PWR. ICA Group Wealth Management LLC purchased a new stake in shares of Quanta Services during the fourth quarter worth approximately $26,000. Coppell Advisory Solutions Corp. purchased a new position in Quanta Services in the fourth quarter worth $28,000. Perkins Coie Trust Co purchased a new position in Quanta Services in the third quarter worth $30,000. Grove Bank & Trust raised its position in Quanta Services by 75.6% in the third quarter. Grove Bank & Trust now owns 158 shares of the construction company's stock worth $30,000 after acquiring an additional 68 shares in the last quarter. Finally, Geneos Wealth Management Inc. raised its position in Quanta Services by 1,730.0% in the third quarter. Geneos Wealth Management Inc. now owns 183 shares of the construction company's stock worth $34,000 after acquiring an additional 173 shares in the last quarter. Hedge funds and other institutional investors own 90.49% of the company's stock.

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.