Quanta Services (NYSE:PWR) Price Target Raised to $432.00

Quanta Services (NYSE:PWR) had its price objective upped by Stifel Nicolaus from $411.00 to $432.00 in a report published on Monday,Benzinga reports. The firm currently has a buy rating on the construction company’s stock.

Other research analysts have also recently issued research reports about the company. Argus set a $375.00 price target on Quanta Services in a research report on Monday, May 5th. Sanford C. Bernstein lowered shares of Quanta Services from an “outperform” rating to a “market perform” rating and set a $410.00 target price on the stock. in a report on Monday, July 28th. JPMorgan Chase & Co. upped their price target on shares of Quanta Services from $345.00 to $392.00 and gave the stock a “neutral” rating in a report on Tuesday, July 22nd. Northland Securities cut shares of Quanta Services from an “outperform” rating to a “market perform” rating and set a $354.00 price objective on the stock. in a research note on Wednesday, July 2nd. Finally, B. Riley upped their target price on Quanta Services from $300.00 to $355.00 and gave the stock a “neutral” rating in a research note on Friday, May 2nd. Twelve research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $390.18.

Quanta Services Stock Performance

NYSE PWR opened at $387.31 on Monday. The firm has a 50-day moving average price of $378.42 and a two-hundred day moving average price of $320.16. Quanta Services has a 12-month low of $227.08 and a 12-month high of $424.94. The company has a market capitalization of $57.71 billion, a P/E ratio of 59.96, a P/E/G ratio of 2.34 and a beta of 1.10. The company has a quick ratio of 1.32, a current ratio of 1.37 and a debt-to-equity ratio of 0.59.

Quanta Services (NYSE:PWR) last released its quarterly earnings results on Thursday, July 31st. The construction company reported $2.48 earnings per share for the quarter, beating analysts’ consensus estimates of $2.44 by $0.04. Quanta Services had a net margin of 3.73% and a return on equity of 18.41%. The company had revenue of $6.77 billion during the quarter, compared to the consensus estimate of $6.55 billion. During the same period in the previous year, the business earned $1.90 earnings per share. The firm’s quarterly revenue was up 21.1% on a year-over-year basis. Analysts anticipate that Quanta Services will post 9.34 earnings per share for the current year.

Quanta Services Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, July 11th. Investors of record on Tuesday, July 1st were paid a $0.10 dividend. The ex-dividend date of this dividend was Tuesday, July 1st. This represents a $0.40 annualized dividend and a dividend yield of 0.1%. Quanta Services’s payout ratio is currently 6.19%.

Institutional Trading of Quanta Services

Institutional investors and hedge funds have recently bought and sold shares of the stock. Copia Wealth Management grew its position in shares of Quanta Services by 509.1% in the 2nd quarter. Copia Wealth Management now owns 67 shares of the construction company’s stock valued at $25,000 after buying an additional 56 shares during the last quarter. SOA Wealth Advisors LLC. boosted its holdings in Quanta Services by 159.3% in the second quarter. SOA Wealth Advisors LLC. now owns 70 shares of the construction company’s stock valued at $26,000 after acquiring an additional 43 shares during the last quarter. Banque Transatlantique SA acquired a new stake in Quanta Services during the 4th quarter valued at approximately $25,000. Solstein Capital LLC raised its holdings in Quanta Services by 185.7% during the 2nd quarter. Solstein Capital LLC now owns 80 shares of the construction company’s stock worth $30,000 after purchasing an additional 52 shares during the last quarter. Finally, Quarry LP acquired a new position in shares of Quanta Services in the 4th quarter worth approximately $26,000. 90.49% of the stock is currently owned by institutional investors and hedge funds.

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.