Quanta Services’ (PWR) “Buy” Rating Reaffirmed at Truist Financial

Truist Financial restated their buy rating on shares of Quanta Services (NYSE:PWR) in a research report sent to investors on Monday morning, Benzinga reports. Truist Financial currently has a $319.00 price target on the construction company’s stock, up from their previous price target of $305.00.

PWR has been the topic of several other reports. The Goldman Sachs Group lifted their price objective on shares of Quanta Services from $259.00 to $286.00 and gave the company a buy rating in a research report on Tuesday, May 28th. Evercore ISI lifted their price target on Quanta Services from $255.00 to $288.00 and gave the company an outperform rating in a report on Tuesday, May 7th. B. Riley raised their target price on Quanta Services from $286.00 to $303.00 and gave the company a buy rating in a research report on Friday, August 2nd. Citigroup lifted their target price on Quanta Services from $299.00 to $302.00 and gave the company a buy rating in a research note on Monday, July 22nd. Finally, Robert W. Baird increased their price target on Quanta Services from $287.00 to $288.00 and gave the stock an outperform rating in a research note on Friday, July 19th. Three 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 presently has an average rating of Moderate Buy and a consensus price target of $287.09.

Quanta Services Price Performance

PWR opened at $262.80 on Monday. The company has a quick ratio of 1.32, a current ratio of 1.30 and a debt-to-equity ratio of 0.45. The company’s 50-day moving average price is $262.42 and its 200 day moving average price is $249.92. The firm has a market cap of $38.47 billion, a price-to-earnings ratio of 50.93 and a beta of 1.03. Quanta Services has a fifty-two week low of $153.74 and a fifty-two week high of $286.87.

Quanta Services (NYSE:PWR) last released its quarterly earnings data on Thursday, August 1st. The construction company reported $1.90 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.75 by $0.15. The business had revenue of $5.59 billion during the quarter, compared to analyst estimates of $5.51 billion. Quanta Services had a return on equity of 16.29% and a net margin of 3.59%. The business’s revenue for the quarter was up 10.8% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.47 EPS. As a group, sell-side analysts expect that Quanta Services will post 7.69 earnings per share for the current year.

Quanta Services Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, July 12th. Shareholders of record on Monday, July 1st were issued a $0.09 dividend. This represents a $0.36 dividend on an annualized basis and a yield of 0.14%. The ex-dividend date of this dividend was Monday, July 1st. Quanta Services’s payout ratio is 6.98%.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of PWR. EntryPoint Capital LLC acquired a new position in shares of Quanta Services in the 1st quarter worth $25,000. Private Ocean LLC acquired a new position in shares of Quanta Services in the 1st quarter valued at $26,000. Salomon & Ludwin LLC purchased a new position in Quanta Services in the 1st quarter worth about $26,000. Cambridge Trust Co. acquired a new stake in Quanta Services during the 1st quarter worth about $26,000. Finally, Valley Wealth Managers Inc. purchased a new stake in Quanta Services during the second quarter valued at about $33,000. Institutional investors own 90.49% of the company’s stock.

Quanta Services Company Profile

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.