Quanta Services (NYSE:PWR) Price Target Raised to $280.00 at TD Cowen

Quanta Services (NYSE:PWR) had its price objective increased by TD Cowen from $270.00 to $280.00 in a research note released on Thursday, Marketbeat reports. They currently have a buy rating on the construction company’s stock.

Several other research firms also recently commented on PWR. Northland Securities upped their price objective on shares of Quanta Services from $264.00 to $280.00 and gave the company an outperform rating in a report on Friday, August 2nd. Evercore ISI upped their price objective on shares of Quanta Services from $255.00 to $288.00 and gave the company an outperform rating in a report on Tuesday, May 7th. Citigroup upped their price objective on shares of Quanta Services from $299.00 to $302.00 and gave the company a buy rating in a report on Monday, July 22nd. Truist Financial reaffirmed a buy rating and set a $319.00 price objective (up from $305.00) on shares of Quanta Services in a report on Monday. Finally, B. Riley upped their price objective on shares of Quanta Services from $286.00 to $303.00 and gave the company a buy rating in a report on Friday, August 2nd. Three analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of Moderate Buy and a consensus target price of $287.09.

Quanta Services Stock Down 1.2 %

Shares of NYSE PWR traded down $3.18 during trading on Thursday, hitting $259.62. The stock had a trading volume of 801,462 shares, compared to its average volume of 966,833. Quanta Services has a 12 month low of $153.74 and a 12 month high of $286.87. The company has a debt-to-equity ratio of 0.45, a current ratio of 1.30 and a quick ratio of 1.32. The company has a market capitalization of $38.01 billion, a PE ratio of 50.31 and a beta of 1.03. The firm has a fifty day moving average of $262.09 and a two-hundred day moving average of $250.31.

Quanta Services (NYSE:PWR) last posted its earnings results on Thursday, August 1st. The construction company reported $1.90 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.75 by $0.15. Quanta Services had a net margin of 3.59% and a return on equity of 16.29%. The firm had revenue of $5.59 billion during the quarter, compared to analyst estimates of $5.51 billion. During the same quarter in the prior year, the business posted $1.47 EPS. The business’s revenue was up 10.8% compared to the same quarter last year. As a group, equities research analysts forecast that Quanta Services will post 7.69 EPS for the current fiscal 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 given a dividend of $0.09 per share. This represents a $0.36 dividend on an annualized basis and a yield of 0.14%. The ex-dividend date was Monday, July 1st. Quanta Services’s payout ratio is currently 6.98%.

Institutional Trading of Quanta Services

A number of institutional investors have recently made changes to their positions in the stock. Westside Investment Management Inc. boosted its stake in shares of Quanta Services by 20.5% during the second quarter. Westside Investment Management Inc. now owns 241 shares of the construction company’s stock valued at $61,000 after purchasing an additional 41 shares during the period. Ameritas Advisory Services LLC lifted its stake in Quanta Services by 5.0% in the second quarter. Ameritas Advisory Services LLC now owns 876 shares of the construction company’s stock worth $223,000 after acquiring an additional 42 shares during the period. Aspen Investment Management Inc lifted its stake in Quanta Services by 3.7% in the second quarter. Aspen Investment Management Inc now owns 1,254 shares of the construction company’s stock worth $319,000 after acquiring an additional 45 shares during the period. Terra Nova Asset Management LLC lifted its stake in Quanta Services by 0.4% in the second quarter. Terra Nova Asset Management LLC now owns 12,741 shares of the construction company’s stock worth $3,237,000 after acquiring an additional 46 shares during the period. Finally, Wedmont Private Capital lifted its stake in Quanta Services by 1.0% in the first quarter. Wedmont Private Capital now owns 4,674 shares of the construction company’s stock worth $1,198,000 after acquiring an additional 47 shares during the period. Hedge funds and other institutional investors 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.