Robert W. Baird Forecasts Strong Price Appreciation for Quanta Services (NYSE:PWR) Stock

Quanta Services (NYSE:PWR) had its price target upped by research analysts at Robert W. Baird from $320.00 to $333.00 in a report issued on Friday, Benzinga reports. The brokerage presently has an “outperform” rating on the construction company’s stock. Robert W. Baird’s price objective indicates a potential upside of 10.40% from the stock’s current price.

A number of other research firms also recently commented on PWR. Wolfe Research started coverage on Quanta Services in a report on Thursday, September 19th. They set an “outperform” rating and a $313.00 target price for the company. Stifel Nicolaus lifted their price objective 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. Citigroup increased their price objective on shares of Quanta Services from $302.00 to $348.00 and gave the stock a “buy” rating in a research note on Friday, October 4th. TD Cowen boosted their target price on shares of Quanta Services from $280.00 to $335.00 and gave the company a “buy” rating in a research report on Tuesday, October 15th. Finally, JPMorgan Chase & Co. began coverage on Quanta Services in a research note on Monday, October 7th. They set a “neutral” rating and a $297.00 price objective for the company. Four equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $311.07.

Quanta Services Stock Performance

PWR opened at $301.63 on Friday. The company has a market cap of $44.44 billion, a P/E ratio of 56.91 and a beta of 1.01. The company has a quick ratio of 1.25, a current ratio of 1.30 and a debt-to-equity ratio of 0.45. The firm’s 50-day moving average price is $289.12 and its 200-day moving average price is $272.10. Quanta Services has a 52-week low of $153.74 and a 52-week high of $317.91.

Quanta Services (NYSE:PWR) last posted its quarterly earnings results on Thursday, October 31st. The construction company reported $2.72 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.46 by $0.26. Quanta Services had a net margin of 3.59% and a return on equity of 16.29%. The business had revenue of $6.49 billion during the quarter, compared to analysts’ expectations of $6.56 billion. During the same quarter last year, the company posted $2.08 earnings per share. The business’s quarterly revenue was up 15.5% on a year-over-year basis. As a group, equities analysts anticipate that Quanta Services will post 7.82 EPS for the current fiscal year.

Insider Buying and Selling

In related news, CEO Earl C. Jr. Austin sold 130,000 shares of the company’s stock in a transaction dated Wednesday, August 14th. The shares were sold at an average price of $262.21, for a total transaction of $34,087,300.00. Following the completion of the transaction, the chief executive officer now owns 593,402 shares in the company, valued at $155,595,938.42. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other news, insider Gerald A. Ducey, Jr. sold 15,000 shares of the company’s stock in a transaction on Friday, August 9th. The shares were sold at an average price of $257.93, for a total transaction of $3,868,950.00. Following the completion of the sale, the insider now owns 21,286 shares of the company’s stock, valued at $5,490,297.98. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Earl C. Jr. Austin sold 130,000 shares of the firm’s stock in a transaction dated Wednesday, August 14th. The stock was sold at an average price of $262.21, for a total transaction of $34,087,300.00. Following the completion of the transaction, the chief executive officer now directly owns 593,402 shares in the company, valued at approximately $155,595,938.42. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 202,357 shares of company stock valued at $53,115,572. 1.10% of the stock is owned by corporate insiders.

Institutional Trading of Quanta Services

Hedge funds and other institutional investors have recently modified their holdings of the stock. EntryPoint Capital LLC acquired a new stake in Quanta Services during the first quarter worth about $25,000. Salomon & Ludwin LLC purchased a new stake in shares of Quanta Services during the 1st quarter valued at approximately $26,000. Cambridge Trust Co. acquired a new position in Quanta Services in the first quarter valued at approximately $26,000. Valley Wealth Managers Inc. acquired a new stake in Quanta Services during the second quarter worth $33,000. Finally, Quest Partners LLC purchased a new stake in Quanta Services in the second quarter valued at $35,000. 90.49% of the stock is owned by institutional investors and hedge funds.

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.