Quanta Services' (PWR) Buy Rating Reiterated at Truist Financial

Quanta Services (NYSE:PWR - Get Free Report)'s stock had its "buy" rating restated by stock analysts at Truist Financial in a research note issued to investors on Monday, Benzinga reports. They presently have a $305.00 price target on the construction company's stock, up from their previous price target of $301.00. Truist Financial's target price points to a potential upside of 13.20% from the company's previous close.

A number of other research firms have also recently weighed in on PWR. Robert W. Baird lifted their price target on Quanta Services from $265.00 to $287.00 and gave the company an "outperform" rating in a report on Friday. The Goldman Sachs Group increased their price target on Quanta Services from $227.00 to $259.00 and gave the stock a "buy" rating in a research note on Monday, February 26th. KeyCorp assumed coverage on shares of Quanta Services in a report on Wednesday, January 10th. They issued a "sector weight" rating for the company. B. Riley raised their target price on shares of Quanta Services from $246.00 to $286.00 and gave the company a "buy" rating in a research note on Friday. Finally, Citigroup increased their price objective on shares of Quanta Services from $275.00 to $285.00 and gave the company a "buy" rating in a report on Monday, April 22nd. Three analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $256.15.

Quanta Services Trading Up 5.1 %

NYSE:PWR traded up $13.11 on Monday, reaching $269.44. The stock had a trading volume of 1,381,705 shares, compared to its average volume of 939,897. The company has a market cap of $39.44 billion, a price-to-earnings ratio of 52.22 and a beta of 1.10. Quanta Services has a 12-month low of $153.74 and a 12-month high of $270.42. The company has a debt-to-equity ratio of 0.50, a current ratio of 1.36 and a quick ratio of 1.32. The firm's fifty day moving average is $251.36 and its two-hundred day moving average is $215.69.

Quanta Services (NYSE:PWR - Get Free Report) last released its earnings results on Thursday, February 22nd. The construction company reported $2.04 EPS for the quarter, topping analysts' consensus estimates of $1.83 by $0.21. The company had revenue of $5.78 billion for the quarter, compared to the consensus estimate of $5.19 billion. Quanta Services had a return on equity of 16.25% and a net margin of 3.57%. Quanta Services's quarterly revenue was up 31.0% compared to the same quarter last year. During the same quarter last year, the business posted $1.54 EPS. Equities analysts expect that Quanta Services will post 7.63 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, EVP Derrick A. Jensen sold 18,500 shares of the firm's stock in a transaction on Tuesday, February 27th. The stock was sold at an average price of $236.90, for a total value of $4,382,650.00. Following the completion of the sale, the executive vice president now owns 263,725 shares of the company's stock, valued at $62,476,452.50. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In other Quanta Services news, Director Margaret B. Shannon sold 8,515 shares of the stock in a transaction that occurred on Friday, March 1st. The shares were sold at an average price of $239.92, for a total value of $2,042,918.80. Following the completion of the sale, the director now owns 34,063 shares in the company, valued at approximately $8,172,394.96. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Derrick A. Jensen sold 18,500 shares of the company's stock in a transaction 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 directly owns 263,725 shares in the company, valued at $62,476,452.50. The disclosure for this sale can be found here. In the last three months, insiders have sold 47,125 shares of company stock worth $11,270,215. Corporate insiders own 1.10% of the company's stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of PWR. Private Ocean LLC acquired a new position in Quanta Services in the first quarter worth approximately $26,000. Salomon & Ludwin LLC bought a new position in shares of Quanta Services during the 1st quarter valued at $26,000. Grove Bank & Trust lifted its stake in shares of Quanta Services by 75.6% in the 3rd quarter. Grove Bank & Trust now owns 158 shares of the construction company's stock valued at $30,000 after purchasing an additional 68 shares during the last quarter. Hazlett Burt & Watson Inc. boosted its holdings in Quanta Services by 47.3% in the fourth quarter. Hazlett Burt & Watson Inc. now owns 162 shares of the construction company's stock worth $34,000 after purchasing an additional 52 shares in the last quarter. Finally, Newbridge Financial Services Group Inc. acquired a new position in Quanta Services during the fourth quarter worth $34,000. 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.