Quanta Services (NYSE:PWR) Price Target Raised to $147.00 at Robert W. Baird

Quanta Services (NYSE:PWRGet Rating) had its price target increased by Robert W. Baird from $136.00 to $147.00 in a report published on Friday, The Fly reports. Robert W. Baird currently has an outperform rating on the construction company’s stock.

Other equities analysts also recently issued research reports about the company. Cowen increased their price objective on Quanta Services from $130.00 to $145.00 in a report on Thursday, May 26th. KeyCorp raised their price target on Quanta Services from $129.00 to $156.00 in a report on Thursday, April 14th. UBS Group upgraded Quanta Services from a neutral rating to a buy rating and raised their price target for the company from $140.00 to $156.00 in a report on Monday, June 13th. Credit Suisse Group set a $157.00 price target on Quanta Services in a report on Tuesday, July 19th. Finally, B. Riley raised their price target on Quanta Services from $129.00 to $138.00 in a report on Friday, May 6th. Two research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of Moderate Buy and an average price target of $144.31.

Quanta Services Stock Performance

Shares of PWR stock opened at $136.91 on Friday. The stock has a fifty day moving average of $128.11 and a 200 day moving average of $120.39. Quanta Services has a 52 week low of $90.09 and a 52 week high of $146.84. The firm has a market capitalization of $19.68 billion, a price-to-earnings ratio of 44.45 and a beta of 1.10. The company has a quick ratio of 1.48, a current ratio of 1.56 and a debt-to-equity ratio of 0.75.

Quanta Services (NYSE:PWRGet Rating) last posted its quarterly earnings data on Thursday, August 4th. The construction company reported $1.54 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.38 by $0.16. The business had revenue of $4.23 billion during the quarter, compared to the consensus estimate of $4.03 billion. Quanta Services had a return on equity of 15.97% and a net margin of 2.92%. The firm’s quarterly revenue was up 41.1% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.93 earnings per share. As a group, research analysts expect that Quanta Services will post 5.79 earnings per share for the current year.

Quanta Services Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, July 15th. Investors of record on Friday, July 1st were issued a $0.07 dividend. The ex-dividend date of this dividend was Thursday, June 30th. This represents a $0.28 dividend on an annualized basis and a yield of 0.20%. Quanta Services’s dividend payout ratio is presently 9.09%.

Insiders Place Their Bets

In related news, CEO Earl C. Jr. Austin sold 135,000 shares of the business’s stock in a transaction on Friday, June 10th. The stock was sold at an average price of $126.48, for a total transaction of $17,074,800.00. Following the completion of the transaction, the chief executive officer now owns 689,030 shares in the company, valued at approximately $87,148,514.40. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In other news, Director Vincent D. Foster sold 14,948 shares of the stock in a transaction dated Wednesday, June 22nd. The stock was sold at an average price of $119.01, for a total value of $1,778,961.48. Following the transaction, the director now directly owns 204,925 shares of the company’s stock, valued at $24,388,124.25. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Earl C. Jr. Austin sold 135,000 shares of the stock in a transaction dated Friday, June 10th. The shares were sold at an average price of $126.48, for a total value of $17,074,800.00. Following the completion of the transaction, the chief executive officer now directly owns 689,030 shares in the company, valued at $87,148,514.40. The disclosure for this sale can be found here. Corporate insiders own 1.30% of the company’s stock.

Institutional Trading of Quanta Services

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Ascent Group LLC boosted its position in Quanta Services by 119.7% during the second quarter. Ascent Group LLC now owns 6,123 shares of the construction company’s stock worth $849,000 after purchasing an additional 3,336 shares in the last quarter. Community Capital Management LLC acquired a new stake in shares of Quanta Services in the second quarter valued at approximately $2,006,000. M&T Bank Corp increased its holdings in shares of Quanta Services by 46.9% in the second quarter. M&T Bank Corp now owns 13,229 shares of the construction company’s stock valued at $1,223,000 after purchasing an additional 4,223 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. increased its holdings in shares of Quanta Services by 125.4% in the second quarter. Connor Clark & Lunn Investment Management Ltd. now owns 15,979 shares of the construction company’s stock valued at $2,003,000 after purchasing an additional 8,890 shares during the last quarter. Finally, Gilbert & Cook Inc. increased its holdings in shares of Quanta Services by 8.1% in the second quarter. Gilbert & Cook Inc. now owns 3,861 shares of the construction company’s stock valued at $484,000 after purchasing an additional 289 shares during the last quarter. 87.16% of the stock is owned by institutional investors and hedge funds.

Quanta Services Company Profile

(Get Rating)

Quanta Services, Inc provides specialty contracting services worldwide. The 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; energized 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.

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