Northland Securities Reiterates Outperform Rating for Quanta Services (NYSE:PWR)

Northland Securities reaffirmed their outperform rating on shares of Quanta Services (NYSE:PWR) in a research report sent to investors on Friday morning, Benzinga reports. The firm currently has a $328.00 target price on the construction company’s stock, up from their prior target price of $280.00.

PWR has been the topic of several other reports. B. Riley increased their price target on shares of Quanta Services from $286.00 to $303.00 and gave the company a “buy” rating in a research note on Friday, August 2nd. Truist Financial increased their price target on shares of Quanta Services from $319.00 to $358.00 and gave the company a “buy” rating in a research note on Wednesday, October 9th. Robert W. Baird increased their price target on shares of Quanta Services from $320.00 to $333.00 and gave the company an “outperform” rating in a research note on Friday. Citigroup raised their target price on shares of Quanta Services from $302.00 to $348.00 and gave the stock a “buy” rating in a research report on Friday, October 4th. Finally, Jefferies Financial Group began coverage on shares of Quanta Services in a research report on Wednesday, September 4th. They set a “hold” rating and a $256.00 target price on the stock. Four research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $314.27.

Quanta Services Stock Up 0.3 %

PWR stock opened at $304.32 on Friday. The company’s 50 day moving average price is $290.40 and its 200 day moving average price is $273.04. The company has a debt-to-equity ratio of 0.58, a quick ratio of 1.19 and a current ratio of 1.23. Quanta Services has a fifty-two week low of $163.93 and a fifty-two week high of $317.91. The firm has a market capitalization of $44.92 billion, a price-to-earnings ratio of 56.15 and a beta of 1.01.

Quanta Services (NYSE:PWR) last released its earnings results on Thursday, October 31st. The construction company reported $2.72 earnings per share for the quarter, topping analysts’ consensus estimates of $2.46 by $0.26. Quanta Services had a net margin of 3.54% and a return on equity of 16.71%. The firm had revenue of $6.49 billion for the quarter, compared to analyst estimates of $6.56 billion. During the same period in the prior year, the firm earned $2.08 earnings per share. The business’s quarterly revenue was up 15.5% compared to the same quarter last year. On average, equities research analysts anticipate that Quanta Services will post 7.82 EPS for the current fiscal year.

Quanta Services Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, October 11th. Investors of record on Tuesday, October 1st were issued a dividend of $0.09 per share. This represents a $0.36 annualized dividend and a dividend yield of 0.12%. The ex-dividend date was Tuesday, October 1st. Quanta Services’s dividend payout ratio is presently 6.64%.

Insider Buying and Selling at Quanta Services

In other Quanta Services news, insider Karl W. Studer sold 23,357 shares of the firm’s stock in a transaction on Wednesday, August 21st. The stock was sold at an average price of $270.51, for a total value of $6,318,302.07. Following the completion of the sale, the insider now owns 10,631 shares of the company’s stock, valued at approximately $2,875,791.81. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Quanta Services news, insider Karl W. Studer sold 23,357 shares of the firm’s stock in a transaction on Wednesday, August 21st. The stock was sold at an average price of $270.51, for a total value of $6,318,302.07. Following the completion of the sale, the insider now owns 10,631 shares of the company’s stock, valued at approximately $2,875,791.81. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Earl C. Jr. Austin sold 130,000 shares of the firm’s stock in a transaction on Wednesday, August 14th. The shares were sold at an average price of $262.21, for a total value of $34,087,300.00. Following the completion of the sale, the chief executive officer now directly owns 593,402 shares of the company’s stock, valued at approximately $155,595,938.42. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 202,357 shares of company stock valued at $53,115,572. 1.10% of the stock is owned by company insiders.

Institutional Investors Weigh In On Quanta Services

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. EntryPoint Capital LLC purchased a new stake in shares of Quanta Services in the 1st quarter worth about $25,000. Salomon & Ludwin LLC acquired a new position in Quanta Services in the 1st quarter valued at about $26,000. Cambridge Trust Co. acquired a new position in Quanta Services in the 1st quarter valued at about $26,000. Valley Wealth Managers Inc. acquired a new position in Quanta Services in the 2nd quarter valued at about $33,000. Finally, Quest Partners LLC acquired a new position in Quanta Services in the 2nd quarter valued at about $35,000. Institutional investors and hedge funds 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.