Quanta Services (NYSE:PWR) Price Target Raised to $901.00

Key Points

• Cantor Fitzgerald raised its price target on Quanta Services from $630 to $901 and kept an overweight rating, implying about 19.45% upside from the prior close.
• Quanta Services also received several other bullish or revised analyst updates recently, and the stock currently carries a Moderate Buy consensus with an average price target of $708.05.
• The company reported better-than-expected quarterly results, including EPS of $2.68 versus $2.04 expected and revenue of $7.87 billion, while shares traded up to around $754.30 on Monday.

Quanta Services (NYSE:PWR - Get Free Report) had its price target boosted by Cantor Fitzgerald from $630.00 to $901.00 in a research note issued on Monday,Benzinga reports. The firm presently has an "overweight" rating on the construction company's stock. Cantor Fitzgerald's price objective suggests a potential upside of 19.45% from the stock's previous close.

PWR has been the topic of a number of other reports. Mizuho raised their price objective on shares of Quanta Services from $580.00 to $693.00 and gave the company a "neutral" rating in a research note on Friday, May 1st. B. Riley Financial restated a "neutral" rating on shares of Quanta Services in a research report on Friday, May 1st. Truist Financial set a $851.00 price objective on Quanta Services in a research report on Friday, May 1st. BMO Capital Markets lifted their price target on shares of Quanta Services from $650.00 to $800.00 and gave the company an "outperform" rating in a research note on Friday, May 1st. Finally, Wolfe Research raised their price objective on shares of Quanta Services from $477.00 to $576.00 and gave the stock an "outperform" rating in a report on Friday, February 20th. Seventeen research analysts have rated the stock with a Buy rating and eight have given a Hold rating to the company. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $708.05.

Quanta Services Trading Up 1.2%

Shares of PWR opened at $754.30 on Monday. The stock's 50-day moving average price is $591.73 and its 200 day moving average price is $505.56. The company has a quick ratio of 1.09, a current ratio of 1.14 and a debt-to-equity ratio of 0.57. The firm has a market capitalization of $113.19 billion, a price-to-earnings ratio of 103.41, a P/E/G ratio of 2.56 and a beta of 1.24. Quanta Services has a 12-month low of $320.56 and a 12-month high of $788.75.

Quanta Services (NYSE:PWR - Get Free Report) last announced its quarterly earnings data on Thursday, April 30th. The construction company reported $2.68 earnings per share for the quarter, topping the consensus estimate of $2.04 by $0.64. Quanta Services had a return on equity of 18.64% and a net margin of 3.67%.The company had revenue of $7.87 billion for the quarter, compared to analyst estimates of $7 billion. During the same quarter last year, the firm earned $1.78 EPS. Quanta Services's revenue for the quarter was up 26.3% compared to the same quarter last year. Quanta Services has set its FY 2026 guidance at 13.550-14.250 EPS. As a group, research analysts predict that Quanta Services will post 12.84 earnings per share for the current year.

Insider Activity

In related news, CAO Paul Nobel sold 4,000 shares of the business's stock in a transaction on Monday, May 4th. The shares were sold at an average price of $756.98, for a total value of $3,027,920.00. Following the sale, the chief accounting officer owned 8,080 shares of the company's stock, valued at $6,116,398.40. The trade was a 33.11% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO Earl C. Jr. Austin sold 25,992 shares of Quanta Services stock in a transaction dated Tuesday, May 5th. The stock was sold at an average price of $770.71, for a total value of $20,032,294.32. Following the transaction, the chief executive officer directly owned 16,508 shares in the company, valued at $12,722,880.68. The trade was a 61.16% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 159,992 shares of company stock valued at $123,244,714 in the last ninety days. 0.60% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of PWR. Cedar Mountain Advisors LLC lifted its holdings in shares of Quanta Services by 321.4% in the 4th quarter. Cedar Mountain Advisors LLC now owns 59 shares of the construction company's stock worth $25,000 after purchasing an additional 45 shares in the last quarter. Activest Wealth Management grew its position in Quanta Services by 94.1% in the 3rd quarter. Activest Wealth Management now owns 66 shares of the construction company's stock worth $27,000 after purchasing an additional 32 shares in the last quarter. Flagship Harbor Advisors LLC purchased a new stake in Quanta Services in the fourth quarter worth $28,000. Darwin Wealth Management LLC purchased a new position in shares of Quanta Services in the second quarter worth about $26,000. Finally, MV Capital Management Inc. bought a new position in Quanta Services during the fourth quarter valued at approximately $30,000. 90.49% of the stock is owned by institutional investors.

Quanta Services Company Profile

Quanta Services, Inc is a leading specialty contractor that provides comprehensive infrastructure solutions for the electric power, pipeline and energy, and communications markets. Headquartered in Houston, Texas, the company delivers engineering, procurement, construction, installation, maintenance and repair services that support the development, modernization and ongoing operation of critical energy and communications networks.

In the electric power sector, Quanta works on transmission and distribution systems, substation construction and grid modernization projects that include integration of renewable generation and energy storage.

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