Quanta Services (NYSE:PWR) Stock Price Expected to Rise, Evercore ISI Analyst Says

Quanta Services (NYSE:PWR - Free Report) had its price objective hoisted by Evercore ISI from $331.00 to $360.00 in a research report report published on Friday morning,Benzinga reports. They currently have an outperform rating on the construction company's stock.

PWR has been the subject of a number of other research reports. Roth Capital upgraded Quanta Services to a "strong-buy" rating in a report on Thursday, February 20th. Truist Financial decreased their price target on Quanta Services from $398.00 to $324.00 and set a "buy" rating for the company in a research note on Tuesday, April 8th. Daiwa America raised Quanta Services from a "hold" rating to a "strong-buy" rating in a report on Friday, April 11th. Piper Sandler started coverage on Quanta Services in a research report on Tuesday, April 8th. They set an "overweight" rating and a $286.00 price target for the company. Finally, Bank of America initiated coverage on Quanta Services in a research report on Friday, January 24th. They set a "buy" rating and a $407.00 target price on the stock. Six equities research analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and three have issued a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $334.60.

Quanta Services Trading Up 0.7 %

NYSE PWR traded up $2.39 on Friday, hitting $323.53. The company's stock had a trading volume of 1,035,585 shares, compared to its average volume of 1,644,491. Quanta Services has a 52-week low of $227.08 and a 52-week high of $365.88. The firm has a market cap of $47.97 billion, a P/E ratio of 53.65, a PEG ratio of 1.41 and a beta of 1.04. The company's 50-day simple moving average is $266.02 and its 200 day simple moving average is $300.24. The company has a current ratio of 1.30, a quick ratio of 1.19 and a debt-to-equity ratio of 0.56.

Quanta Services (NYSE:PWR - Get Free Report) last issued its quarterly earnings results on Thursday, May 1st. The construction company reported $1.78 earnings per share for the quarter, topping the consensus estimate of $1.72 by $0.06. Quanta Services had a net margin of 3.82% and a return on equity of 18.00%. The business had revenue of $6.23 billion for the quarter, compared to analysts' expectations of $5.88 billion. During the same quarter last year, the company posted $1.41 EPS. The company's revenue was up 23.9% compared to the same quarter last year. Research analysts predict that Quanta Services will post 9.34 EPS for the current fiscal year.

Quanta Services Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, April 11th. Stockholders of record on Thursday, April 3rd were issued a $0.10 dividend. The ex-dividend date was Thursday, April 3rd. This represents a $0.40 dividend on an annualized basis and a dividend yield of 0.12%. Quanta Services's payout ratio is currently 6.63%.

Institutional Trading of Quanta Services

A number of institutional investors have recently added to or reduced their stakes in the business. Kestra Private Wealth Services LLC grew its position in Quanta Services by 85.0% during the fourth quarter. Kestra Private Wealth Services LLC now owns 4,752 shares of the construction company's stock worth $1,502,000 after buying an additional 2,184 shares in the last quarter. Principal Financial Group Inc. increased its stake in shares of Quanta Services by 5.6% in the 3rd quarter. Principal Financial Group Inc. now owns 207,720 shares of the construction company's stock valued at $61,932,000 after acquiring an additional 11,012 shares during the last quarter. Synovus Financial Corp increased its holdings in shares of Quanta Services by 34.0% in the third quarter. Synovus Financial Corp now owns 7,206 shares of the construction company's stock worth $2,148,000 after acquiring an additional 1,830 shares in the last quarter. Allstate Corp acquired a new position in Quanta Services during the fourth quarter worth $1,357,000. Finally, Hennion & Walsh Asset Management Inc. boosted its holdings in shares of Quanta Services by 4.7% in the 4th quarter. Hennion & Walsh Asset Management Inc. now owns 17,573 shares of the construction company's stock valued at $5,554,000 after buying an additional 793 shares during the last quarter. 90.49% of the stock is currently owned by institutional investors and hedge funds.

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.