B. Riley Increases Quanta Services (NYSE:PWR) Price Target to $286.00

Quanta Services (NYSE:PWR) had its price objective increased by investment analysts at B. Riley from $246.00 to $286.00 in a research report issued on Friday, Benzinga reports. The firm presently has a “buy” rating on the construction company’s stock. B. Riley’s target price would indicate a potential upside of 11.57% from the company’s current price.

PWR has been the subject of a number of other research reports. Evercore ISI started coverage on shares of Quanta Services in a research report on Tuesday, February 13th. They set an “outperform” rating and a $237.00 target price for the company. KeyCorp began coverage on shares of Quanta Services in a research note on Wednesday, January 10th. They set a “sector weight” rating for the company. Stifel Nicolaus boosted their target price on shares of Quanta Services from $237.00 to $252.00 and gave the company a “buy” rating in a report on Friday, February 23rd. The Goldman Sachs Group increased their price target on Quanta Services from $227.00 to $259.00 and gave the stock a “buy” rating in a report on Monday, February 26th. Finally, Robert W. Baird boosted their price objective on Quanta Services from $265.00 to $287.00 and gave the company an “outperform” rating in a research note on Friday. Three analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $255.85.

Quanta Services Trading Up 0.5 %

Shares of NYSE PWR opened at $256.33 on Friday. The firm has a 50 day moving average price of $250.69 and a two-hundred day moving average price of $214.68. The stock has a market cap of $37.52 billion, a P/E ratio of 49.68 and a beta of 1.10. Quanta Services has a 52-week low of $153.74 and a 52-week high of $265.82. The company has a debt-to-equity ratio of 0.50, a quick ratio of 1.44 and a current ratio of 1.36.

Quanta Services (NYSE:PWR) last posted its quarterly earnings data on Thursday, February 22nd. The construction company reported $2.04 earnings per share for the quarter, beating analysts’ consensus estimates of $1.83 by $0.21. The business had revenue of $5.78 billion during the quarter, compared to the consensus estimate of $5.19 billion. Quanta Services had a return on equity of 16.25% and a net margin of 3.57%. Quanta Services’s quarterly revenue was up 31.0% on a year-over-year basis. During the same period in the prior year, the business posted $1.54 earnings per share. As a group, equities analysts forecast that Quanta Services will post 7.63 EPS for the current year.

Insiders Place Their Bets

In other news, EVP Derrick A. Jensen sold 18,500 shares of Quanta Services stock in a transaction dated Tuesday, February 27th. The shares were sold at an average price of $236.90, for a total transaction of $4,382,650.00. Following the completion of the transaction, the executive vice president now directly owns 263,725 shares in the company, valued at $62,476,452.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In other Quanta Services news, Director Margaret B. Shannon sold 8,515 shares of the firm’s stock in a transaction on Friday, March 1st. The stock was sold at an average price of $239.92, for a total transaction of $2,042,918.80. Following the transaction, the director now directly owns 34,063 shares in the company, valued at approximately $8,172,394.96. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Derrick A. Jensen sold 18,500 shares of the business’s stock in a transaction dated Tuesday, February 27th. The stock was sold at an average price of $236.90, for a total transaction of $4,382,650.00. Following the transaction, the executive vice president now owns 263,725 shares in the company, valued at $62,476,452.50. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 47,125 shares of company stock worth $11,270,215. Insiders own 1.10% of the company’s stock.

Institutional Trading of Quanta Services

A number of institutional investors and hedge funds have recently modified their holdings of the business. Vanguard Group Inc. grew its position in Quanta Services by 1.2% during the fourth quarter. Vanguard Group Inc. now owns 16,235,875 shares of the construction company’s stock valued at $3,503,702,000 after buying an additional 191,334 shares during the period. Capital World Investors increased its stake in shares of Quanta Services by 11.6% in the fourth quarter. Capital World Investors now owns 6,000,722 shares of the construction company’s stock worth $1,294,956,000 after purchasing an additional 624,545 shares in the last quarter. FMR LLC lifted its stake in shares of Quanta Services by 1.1% during the 3rd quarter. FMR LLC now owns 4,229,280 shares of the construction company’s stock valued at $791,171,000 after buying an additional 44,141 shares in the last quarter. Artisan Partners Limited Partnership boosted its holdings in Quanta Services by 384.9% in the 4th quarter. Artisan Partners Limited Partnership now owns 2,438,653 shares of the construction company’s stock worth $526,261,000 after buying an additional 1,935,786 shares during the period. Finally, Norges Bank purchased a new position in Quanta Services in the 4th quarter valued at approximately $335,777,000. 90.49% of the stock is owned by hedge funds and other institutional investors.

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.