Quanta Services, Inc. (NYSE:PWR) Given Average Rating of “Moderate Buy” by Analysts

Quanta Services, Inc. (NYSE:PWR) has received an average rating of “Moderate Buy” from the fourteen analysts that are presently covering the firm, Marketbeat.com reports. Three equities research analysts have rated the stock with a hold recommendation and eleven have given a buy recommendation to the company. The average twelve-month price target among brokers that have updated their coverage on the stock in the last year is $290.23.

Several equities research analysts have recently issued reports on the company. Northland Securities lifted their price target on Quanta Services from $264.00 to $280.00 and gave the company an “outperform” rating in a report on Friday, August 2nd. Jefferies Financial Group started coverage on Quanta Services in a research note on Wednesday, September 4th. They issued a “hold” rating and a $256.00 price objective on the stock. B. Riley raised their price objective on Quanta Services from $286.00 to $303.00 and gave the company a “buy” rating in a research note on Friday, August 2nd. Truist Financial reissued a “buy” rating and issued a $319.00 price objective (up from $305.00) on shares of Quanta Services in a research note on Monday, August 5th. Finally, Citigroup raised their price objective on Quanta Services from $302.00 to $348.00 and gave the company a “buy” rating in a research note on Friday.

Quanta Services Stock Up 2.5 %

Shares of Quanta Services stock opened at $305.72 on Friday. The firm has a market cap of $44.75 billion, a price-to-earnings ratio of 59.25 and a beta of 1.01. The company has a debt-to-equity ratio of 0.45, a current ratio of 1.30 and a quick ratio of 1.25. Quanta Services has a 52-week low of $153.74 and a 52-week high of $306.50. The stock has a 50-day simple moving average of $270.34 and a 200-day simple moving average of $265.46.

Quanta Services (NYSE:PWR) last announced its quarterly earnings results on Thursday, August 1st. The construction company reported $1.90 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.75 by $0.15. The business had revenue of $5.59 billion during the quarter, compared to analyst estimates of $5.51 billion. Quanta Services had a return on equity of 16.29% and a net margin of 3.59%. The firm’s revenue was up 10.8% on a year-over-year basis. During the same period in the previous year, the company earned $1.47 EPS. On average, equities research analysts expect that Quanta Services will post 7.82 earnings per share for the current fiscal year.

Quanta Services Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 11th. Stockholders of record on Tuesday, October 1st will be given a dividend of $0.09 per share. This represents a $0.36 dividend on an annualized basis and a dividend yield of 0.12%. The ex-dividend date of this dividend is Tuesday, October 1st. Quanta Services’s dividend payout ratio is presently 6.98%.

Insider Activity

In other news, CEO Earl C. Jr. Austin sold 130,000 shares of the business’s stock in a transaction that occurred on 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 sale, the chief executive officer now directly owns 593,402 shares in the company, valued at approximately $155,595,938.42. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In related news, insider Karl W. Studer sold 23,357 shares of the business’s stock in a transaction on Wednesday, August 21st. The stock was sold at an average price of $270.51, for a total value of $6,318,302.07. Following the sale, the insider now owns 10,631 shares of the company’s stock, valued at $2,875,791.81. The trade was a 0.00 % decrease in their position. The sale 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 business’s stock in a transaction on Wednesday, August 14th. The shares were sold at an average price of $262.21, for a total value of $34,087,300.00. Following the completion of the sale, 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 position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 202,357 shares of company stock worth $53,115,572. Company insiders own 1.10% of the company’s stock.

Institutional Trading of Quanta Services

Several institutional investors have recently bought and sold shares of PWR. Rafferty Asset Management LLC boosted its stake in Quanta Services by 5.6% in the 4th quarter. Rafferty Asset Management LLC now owns 12,186 shares of the construction company’s stock valued at $2,630,000 after buying an additional 642 shares in the last quarter. CIBC Private Wealth Group LLC boosted its stake in Quanta Services by 16.5% in the fourth quarter. CIBC Private Wealth Group LLC now owns 3,017 shares of the construction company’s stock worth $651,000 after purchasing an additional 427 shares in the last quarter. Tower Research Capital LLC TRC boosted its stake in Quanta Services by 88.0% in the fourth quarter. Tower Research Capital LLC TRC now owns 18,463 shares of the construction company’s stock worth $3,984,000 after purchasing an additional 8,644 shares in the last quarter. Cibc World Markets Corp boosted its stake in Quanta Services by 133.3% in the fourth quarter. Cibc World Markets Corp now owns 18,695 shares of the construction company’s stock worth $4,034,000 after purchasing an additional 10,681 shares in the last quarter. Finally, Vinva Investment Management Ltd acquired a new position in Quanta Services in the fourth quarter worth $1,095,000. Institutional investors and hedge funds 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.