Quanta Services (NYSE:PWR) Given New $250.00 Price Target at DA Davidson

Quanta Services (NYSE:PWR) had its price objective increased by DA Davidson from $225.00 to $250.00 in a research report released on Tuesday morning, Benzinga reports. The brokerage currently has a neutral rating on the construction company’s stock. DA Davidson also issued estimates for Quanta Services’ FY2025 earnings at $8.54 EPS.

Several other equities analysts have also commented on PWR. Evercore ISI assumed coverage on shares of Quanta Services in a research report on Tuesday, February 13th. They set an outperform rating and a $237.00 price target for the company. B. Riley upped their price target on shares of Quanta Services from $246.00 to $286.00 and gave the stock a buy rating in a research report on Friday, May 3rd. Robert W. Baird increased their price objective on shares of Quanta Services from $265.00 to $287.00 and gave the stock an outperform rating in a research report on Friday, May 3rd. TD Cowen increased their price objective on shares of Quanta Services from $205.00 to $270.00 and gave the stock an outperform rating in a research report on Tuesday, February 27th. Finally, Truist Financial reissued a buy rating and issued a $305.00 price objective (up previously from $301.00) on shares of Quanta Services in a research report on Monday. Three equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. According to MarketBeat.com, Quanta Services has a consensus rating of Moderate Buy and an average target price of $262.00.

Quanta Services Stock Performance

Shares of PWR opened at $266.86 on Tuesday. The company has a debt-to-equity ratio of 0.50, a quick ratio of 1.32 and a current ratio of 1.36. The company has a market capitalization of $39.07 billion, a price-to-earnings ratio of 51.72 and a beta of 1.10. The company’s 50 day simple moving average is $251.91 and its 200 day simple moving average is $216.41. Quanta Services has a 1 year low of $153.74 and a 1 year high of $271.96.

Quanta Services (NYSE:PWR) last issued its quarterly earnings results on Thursday, February 22nd. The construction company reported $2.04 EPS for the quarter, topping the consensus estimate of $1.83 by $0.21. Quanta Services had a net margin of 3.57% and a return on equity of 16.25%. The firm had revenue of $5.78 billion during the quarter, compared to analyst estimates of $5.19 billion. During the same quarter in the prior year, the business posted $1.54 earnings per share. Quanta Services’s revenue for the quarter was up 31.0% compared to the same quarter last year. On average, sell-side analysts predict that Quanta Services will post 7.63 EPS for the current year.

Quanta Services Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, April 17th. Investors of record on Tuesday, April 9th were issued a dividend of $0.09 per share. This represents a $0.36 dividend on an annualized basis and a yield of 0.13%. The ex-dividend date was Monday, April 8th. Quanta Services’s payout ratio is 6.98%.

Insider Activity at Quanta Services

In related news, Director Worthing Jackman sold 9,572 shares of the firm’s stock in a transaction on Wednesday, February 28th. The shares were sold at an average price of $237.31, for a total transaction of $2,271,531.32. Following the completion of the sale, the director now directly owns 7,486 shares of the company’s stock, valued at approximately $1,776,502.66. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. In other news, Director Worthing Jackman sold 9,572 shares of the business’s stock in a transaction dated Wednesday, February 28th. The shares were sold at an average price of $237.31, for a total value of $2,271,531.32. Following the completion of the sale, the director now owns 7,486 shares of the company’s stock, valued at approximately $1,776,502.66. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Derrick A. Jensen sold 18,500 shares of Quanta Services stock in a transaction that occurred 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 transaction, the executive vice president now owns 263,725 shares of the company’s stock, valued at approximately $62,476,452.50. The disclosure for this sale can be found here. In the last three months, insiders sold 47,125 shares of company stock valued at $11,270,215. Corporate insiders own 1.10% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Truist Financial Corp increased its stake in shares of Quanta Services by 2.2% during the fourth quarter. Truist Financial Corp now owns 432,810 shares of the construction company’s stock valued at $93,400,000 after acquiring an additional 9,421 shares during the period. Carnegie Capital Asset Management LLC lifted its stake in shares of Quanta Services by 24.5% in the 4th quarter. Carnegie Capital Asset Management LLC now owns 1,650 shares of the construction company’s stock valued at $356,000 after purchasing an additional 325 shares during the last quarter. Gradient Investments LLC raised its holdings in Quanta Services by 669,187.5% in the 4th quarter. Gradient Investments LLC now owns 53,543 shares of the construction company’s stock worth $11,555,000 after acquiring an additional 53,535 shares during the period. Saxon Interests Inc. bought a new position in Quanta Services in the 4th quarter worth $1,352,000. Finally, Nordea Investment Management AB increased its holdings in shares of Quanta Services by 8,297.7% during the 4th quarter. Nordea Investment Management AB now owns 912,413 shares of the construction company’s stock worth $196,205,000 after purchasing an additional 901,548 shares during the period. Institutional investors and hedge funds 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.