Quanta Services (NYSE:PWR) Given New $335.00 Price Target at TD Cowen

Quanta Services (NYSE:PWR) had its price objective raised by TD Cowen from $280.00 to $335.00 in a research report report published on Tuesday, MarketBeat reports. The brokerage currently has a buy rating on the construction company’s stock.

Several other equities analysts have also recently weighed in on PWR. JPMorgan Chase & Co. initiated coverage on shares of Quanta Services in a research note on Monday, October 7th. They set a neutral rating and a $297.00 target price for the company. Citigroup raised their target price on shares of Quanta Services from $302.00 to $348.00 and gave the company a buy rating in a research note on Friday, October 4th. Jefferies Financial Group initiated coverage on shares of Quanta Services in a research note on Wednesday, September 4th. They set a hold rating and a $256.00 target price for the company. Robert W. Baird raised their target price on shares of Quanta Services from $287.00 to $288.00 and gave the company an outperform rating in a research note on Friday, July 19th. Finally, Stifel Nicolaus raised their target price on shares of Quanta Services from $283.00 to $342.00 and gave the company a buy rating in a research note on Thursday, October 10th. Four equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of Moderate Buy and a consensus price target of $303.86.

Quanta Services Stock Performance

Shares of NYSE PWR opened at $305.48 on Tuesday. The firm has a fifty day moving average price of $277.20 and a 200-day moving average price of $267.72. The company has a debt-to-equity ratio of 0.45, a current ratio of 1.30 and a quick ratio of 1.25. The stock has a market cap of $44.72 billion, a PE ratio of 59.20 and a beta of 1.01. Quanta Services has a 1 year low of $153.74 and a 1 year high of $313.56.

Quanta Services (NYSE:PWR) last announced its quarterly earnings data on Thursday, August 1st. The construction company reported $1.90 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.75 by $0.15. The firm had revenue of $5.59 billion during the quarter, compared to analysts’ expectations of $5.51 billion. Quanta Services had a net margin of 3.59% and a return on equity of 16.29%. The company’s revenue for the quarter was up 10.8% compared to the same quarter last year. During the same period in the prior year, the company posted $1.47 earnings per share. Equities analysts anticipate that Quanta Services will post 7.81 earnings per share for the current fiscal year.

Quanta Services Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, October 11th. Stockholders of record on Tuesday, October 1st were issued a $0.09 dividend. The ex-dividend date of this dividend was Tuesday, October 1st. This represents a $0.36 annualized dividend and a dividend yield of 0.12%. Quanta Services’s dividend payout ratio is currently 6.98%.

Insider Activity

In related news, insider Karl W. Studer sold 23,357 shares of the business’s stock in a transaction that occurred on Wednesday, August 21st. The shares were sold at an average price of $270.51, for a total transaction of $6,318,302.07. Following the completion of the transaction, the insider now owns 10,631 shares in the company, valued at $2,875,791.81. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. In related news, COO James Redgie Probst sold 34,000 shares of the business’s stock in a transaction that occurred on Friday, August 9th. The shares were sold at an average price of $260.03, for a total transaction of $8,841,020.00. Following the completion of the transaction, the chief operating officer now owns 29,002 shares in the company, valued at $7,541,390.06. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Karl W. Studer sold 23,357 shares of the business’s stock in a transaction that occurred on Wednesday, August 21st. The stock was sold at an average price of $270.51, for a total transaction of $6,318,302.07. Following the transaction, 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 position. The disclosure for this sale can be found here. In the last quarter, insiders sold 202,357 shares of company stock worth $53,115,572. 1.10% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of PWR. Centaurus Financial Inc. grew its position in Quanta Services by 28.9% during the 4th quarter. Centaurus Financial Inc. now owns 1,985 shares of the construction company’s stock worth $428,000 after purchasing an additional 445 shares during the last quarter. Wellington Management Group LLP grew its position in Quanta Services by 581.3% during the 4th quarter. Wellington Management Group LLP now owns 117,014 shares of the construction company’s stock worth $25,252,000 after purchasing an additional 99,840 shares during the last quarter. HighPoint Advisor Group LLC purchased a new stake in Quanta Services during the 4th quarter worth approximately $1,347,000. Nomura Holdings Inc. purchased a new stake in Quanta Services during the 4th quarter worth approximately $631,000. Finally, Newbridge Financial Services Group Inc. purchased a new stake in Quanta Services during the 4th quarter worth approximately $34,000. 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.