Robert W. Baird Increases Quanta Services (NYSE:PWR) Price Target to $287.00

Quanta Services (NYSE:PWR) had its target price hoisted by Robert W. Baird from $265.00 to $287.00 in a research note issued to investors on Friday morning, Benzinga reports. Robert W. Baird currently has an outperform rating on the construction company’s stock.

PWR has been the topic of a number of other reports. Stifel Nicolaus raised their price target on shares of Quanta Services from $237.00 to $252.00 and gave the company a buy rating in a research note on Friday, February 23rd. DA Davidson raised their price target on shares of Quanta Services from $190.00 to $225.00 and gave the stock a neutral rating in a report on Wednesday, February 28th. Evercore ISI started coverage on shares of Quanta Services in a report on Tuesday, February 13th. They set an outperform rating and a $237.00 price target for the company. TD Cowen raised their price target on shares of Quanta Services from $205.00 to $270.00 and gave the stock an outperform rating in a report on Tuesday, February 27th. Finally, The Goldman Sachs Group raised their price target on shares of Quanta Services from $227.00 to $259.00 and gave the stock a buy rating in a report on Monday, February 26th. Three analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. According to data from MarketBeat.com, Quanta Services presently has a consensus rating of Moderate Buy and a consensus target price of $256.15.

Quanta Services Trading Up 5.1 %

PWR opened at $269.44 on Friday. The company’s 50 day moving average is $251.36 and its 200-day moving average is $215.69. Quanta Services has a 1-year low of $153.74 and a 1-year high of $270.42. The company has a current ratio of 1.36, a quick ratio of 1.32 and a debt-to-equity ratio of 0.50. The company has a market cap of $39.44 billion, a P/E ratio of 52.22 and a beta of 1.10.

Quanta Services (NYSE:PWR) last posted its quarterly earnings results 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. Quanta Services had a net margin of 3.57% and a return on equity of 16.25%. The company had revenue of $5.78 billion for the quarter, compared to the consensus estimate of $5.19 billion. During the same period last year, the company posted $1.54 EPS. The firm’s quarterly revenue was up 31.0% compared to the same quarter last year. Equities research analysts predict that Quanta Services will post 7.63 earnings per share for the current fiscal year.

Quanta Services Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, April 17th. Shareholders of record on Tuesday, April 9th were issued a dividend of $0.09 per share. The ex-dividend date of this dividend was Monday, April 8th. This represents a $0.36 annualized dividend and a yield of 0.13%. Quanta Services’s payout ratio is 6.98%.

Insiders Place Their Bets

In other Quanta Services news, EVP Derrick A. Jensen sold 18,500 shares of the company’s stock in a transaction on 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 transaction, the executive vice president now owns 263,725 shares in the company, valued at $62,476,452.50. The transaction was disclosed in a filing with the SEC, which is accessible through this link. In other news, EVP Derrick A. Jensen sold 18,500 shares of the company’s stock in a transaction on Tuesday, February 27th. The shares were sold at an average price of $236.90, for a total value of $4,382,650.00. Following the completion of the sale, the executive vice president now owns 263,725 shares in the company, valued at approximately $62,476,452.50. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Margaret B. Shannon sold 8,515 shares of the company’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 completion of the sale, the director now owns 34,063 shares of the company’s stock, valued at approximately $8,172,394.96. 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.

Hedge Funds Weigh In On Quanta Services

Institutional investors have recently added to or reduced their stakes in the stock. Private Ocean LLC bought a new position in Quanta Services during the first quarter valued at about $26,000. Salomon & Ludwin LLC bought a new position in Quanta Services during the first quarter valued at about $26,000. Grove Bank & Trust grew its position in Quanta Services by 75.6% during the third quarter. Grove Bank & Trust now owns 158 shares of the construction company’s stock valued at $30,000 after buying an additional 68 shares during the period. Hazlett Burt & Watson Inc. grew its position in Quanta Services by 47.3% during the fourth quarter. Hazlett Burt & Watson Inc. now owns 162 shares of the construction company’s stock valued at $34,000 after buying an additional 52 shares during the period. Finally, Newbridge Financial Services Group Inc. bought a new position in Quanta Services during the fourth quarter valued at about $34,000. 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.