Quanta Services (NYSE:PWR) Sets New 1-Year High at $262.27

Shares of Quanta Services, Inc. (NYSE:PWRGet Free Report) hit a new 52-week high on Wednesday . The company traded as high as $262.27 and last traded at $261.68, with a volume of 228316 shares traded. The stock had previously closed at $256.10.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on PWR. Stifel Nicolaus boosted their price target on shares of Quanta Services from $237.00 to $252.00 and gave the stock a “buy” rating in a research report on Friday, February 23rd. The Goldman Sachs Group raised their price objective on shares of Quanta Services from $227.00 to $259.00 and gave the stock a “buy” rating in a research report on Monday, February 26th. Truist Financial assumed coverage on shares of Quanta Services in a report on Thursday, March 14th. They set a “buy” rating and a $301.00 price objective for the company. Evercore ISI started coverage on Quanta Services in a report on Tuesday, February 13th. They set an “outperform” rating and a $237.00 price objective for the company. Finally, TD Cowen increased 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. Three analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $239.54.

Check Out Our Latest Analysis on PWR

Quanta Services Stock Up 2.4 %

The company has a debt-to-equity ratio of 0.58, a current ratio of 1.47 and a quick ratio of 1.44. The firm has a market capitalization of $38.23 billion, a PE ratio of 52.01 and a beta of 1.11. The company has a 50-day moving average price of $228.97 and a 200 day moving average price of $203.10.

Quanta Services (NYSE:PWRGet Free Report) last released its quarterly earnings results on Thursday, February 22nd. The construction company reported $2.04 earnings per share for the quarter, beating the consensus estimate of $1.83 by $0.21. Quanta Services had a return on equity of 16.46% and a net margin of 3.57%. The company had revenue of $5.78 billion for the quarter, compared to analyst estimates of $5.19 billion. During the same quarter in the prior year, the firm posted $1.54 EPS. Quanta Services’s quarterly revenue was up 31.0% compared to the same quarter last year. Analysts forecast that Quanta Services, Inc. will post 7.63 earnings per share for the current year.

Quanta Services Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, April 17th. Shareholders of record on Tuesday, April 9th will be issued a $0.09 dividend. This represents a $0.36 dividend on an annualized basis and a yield of 0.14%. The ex-dividend date of this dividend is Monday, April 8th. Quanta Services’s payout ratio is presently 7.19%.

Insider Activity at Quanta Services

In other news, EVP Derrick A. Jensen sold 18,500 shares of the business’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 completion of the sale, the executive vice president now directly owns 263,725 shares of the company’s stock, valued at approximately $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, EVP Derrick A. Jensen sold 18,500 shares of the business’s stock in a transaction on 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 completion of the transaction, the executive vice president now owns 263,725 shares in the company, valued at approximately $62,476,452.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Donald Wayne sold 595 shares of the stock in a transaction that occurred on Tuesday, March 12th. The shares were sold at an average price of $239.61, for a total transaction of $142,567.95. Following the completion of the transaction, the executive vice president now owns 41,954 shares of the company’s stock, valued at $10,052,597.94. The disclosure for this sale can be found here. Insiders sold a total of 47,125 shares of company stock worth $11,270,215 in the last 90 days. Corporate insiders own 1.30% of the company’s stock.

Institutional Investors Weigh In On Quanta Services

Several large investors have recently modified their holdings of the stock. Vanguard Group Inc. raised its holdings in shares of Quanta Services by 1.2% during the fourth quarter. Vanguard Group Inc. now owns 16,235,875 shares of the construction company’s stock worth $3,503,702,000 after acquiring an additional 191,334 shares in the last quarter. Capital World Investors grew its position in 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 acquiring an additional 624,545 shares in the last quarter. State Street Corp raised its holdings in shares of Quanta Services by 4.7% during the 2nd quarter. State Street Corp now owns 5,651,747 shares of the construction company’s stock valued at $1,110,733,000 after purchasing an additional 252,669 shares in the last quarter. FMR LLC lifted its stake in shares of Quanta Services by 1.1% in the 3rd quarter. FMR LLC now owns 4,229,280 shares of the construction company’s stock valued at $791,171,000 after purchasing an additional 44,141 shares during the last quarter. Finally, Geode Capital Management LLC boosted its stake in shares of Quanta Services by 1.8% during the 1st quarter. Geode Capital Management LLC now owns 3,025,017 shares of the construction company’s stock worth $502,997,000 after acquiring an additional 53,317 shares in the last quarter. 90.49% of the stock is owned by institutional investors.

Quanta Services Company Profile

(Get Free Report)

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.

Further Reading

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