Quanta Services (NYSE:PWR) Sets New 12-Month High at $288.41

Shares of Quanta Services, Inc. (NYSE:PWR) reached a new 52-week high during trading on Thursday . The company traded as high as $288.41 and last traded at $287.95, with a volume of 343465 shares. The stock had previously closed at $272.06.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on PWR shares. Citigroup raised their price objective on shares of Quanta Services from $299.00 to $302.00 and gave the company a “buy” rating in a research report on Monday, July 22nd. The Goldman Sachs Group increased their price objective on Quanta Services from $259.00 to $286.00 and gave the company a “buy” rating in a research report on Tuesday, May 28th. Wolfe Research started coverage on Quanta Services in a research report on Thursday. They issued an “outperform” rating and a $313.00 target price for the company. Robert W. Baird lifted their price target on shares of Quanta Services from $287.00 to $288.00 and gave the stock an “outperform” rating in a research note on Friday, July 19th. Finally, B. Riley boosted their target price on Quanta Services from $286.00 to $303.00 and gave the company a “buy” rating in a research note on Friday, August 2nd. Four equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $286.69.

Quanta Services Price Performance

The firm has a market cap of $42.58 billion, a P/E ratio of 56.37 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. The firm’s 50 day moving average is $262.17 and its 200 day moving average is $261.42.

Quanta Services (NYSE:PWR) last issued its quarterly earnings results on Thursday, August 1st. The construction company reported $1.90 EPS for the quarter, topping analysts’ consensus estimates of $1.75 by $0.15. The firm had revenue of $5.59 billion for the quarter, compared to analysts’ expectations of $5.51 billion. Quanta Services had a return on equity of 16.29% and a net margin of 3.59%. The business’s revenue for the quarter was up 10.8% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.47 EPS. As a group, analysts anticipate that Quanta Services, Inc. will post 7.82 earnings per share for the current year.

Quanta Services Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, October 11th. Stockholders of record on Tuesday, October 1st will be given a $0.09 dividend. This represents a $0.36 annualized dividend 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 at Quanta Services

In other Quanta Services news, insider Gerald A. Ducey, Jr. sold 15,000 shares of the firm’s stock in a transaction dated 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 directly owns 21,286 shares in the company, valued at approximately $5,490,297.98. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In related news, COO James Redgie Probst sold 34,000 shares of the stock in a transaction on Friday, August 9th. The stock was sold at an average price of $260.03, for a total transaction of $8,841,020.00. Following the sale, the chief operating officer now directly owns 29,002 shares of the company’s stock, valued at $7,541,390.06. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, insider Gerald A. Ducey, Jr. sold 15,000 shares of the business’s stock in a transaction dated Friday, August 9th. The stock was sold at an average price of $257.93, for a total value of $3,868,950.00. Following the completion of the transaction, the insider now directly owns 21,286 shares of the company’s stock, valued at approximately $5,490,297.98. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 202,357 shares of company stock valued at $53,115,572. 1.10% of the stock is owned by insiders.

Institutional Trading of Quanta Services

A number of large investors have recently made changes to their positions in PWR. Nomura Holdings Inc. purchased a new position in Quanta Services in the fourth quarter worth about $631,000. Wellington Management Group LLP grew its position in Quanta Services by 581.3% during the fourth quarter. Wellington Management Group LLP now owns 117,014 shares of the construction company’s stock valued at $25,252,000 after buying an additional 99,840 shares during the period. 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. Allen Investment Management LLC increased its holdings in Quanta Services by 1,418.0% during the first quarter. Allen Investment Management LLC now owns 33,396 shares of the construction company’s stock valued at $8,676,000 after buying an additional 31,196 shares during the last quarter. Finally, Public Employees Retirement Association of Colorado raised its position in Quanta Services by 20,298.9% in the fourth quarter. Public Employees Retirement Association of Colorado now owns 1,057,681 shares of the construction company’s stock worth $228,248,000 after acquiring an additional 1,052,496 shares during the period. 90.49% of the stock is currently owned by 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.