Quanta Services (NYSE:PWR) Reaches New 12-Month High Following Analyst Upgrade

Quanta Services, Inc. (NYSE:PWR - Get Free Report) hit a new 52-week high on Monday after Citigroup raised their price target on the stock from $302.00 to $348.00. Citigroup currently has a buy rating on the stock. Quanta Services traded as high as $307.28 and last traded at $306.24, with a volume of 77657 shares trading hands. The stock had previously closed at $305.72.

PWR has been the subject of several other reports. B. Riley increased their target price on shares of Quanta Services from $286.00 to $303.00 and gave the company a "buy" rating in a research note on Friday, August 2nd. Wolfe Research began coverage on Quanta Services in a research note on Thursday, September 19th. They issued an "outperform" rating and a $313.00 price target for the company. Northland Securities upped their price target on Quanta Services from $264.00 to $280.00 and gave the stock an "outperform" rating in a research note on Friday, August 2nd. Jefferies Financial Group assumed coverage on shares of Quanta Services in a report on Wednesday, September 4th. They issued a "hold" rating and a $256.00 target price on the stock. Finally, TD Cowen upped their price target on Quanta Services from $270.00 to $280.00 and gave the stock a "buy" rating in a report on Thursday, August 8th. Four investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the company's stock. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $290.71.

Insider Activity at Quanta Services

In related news, insider Karl W. Studer sold 23,357 shares of the business's stock in a transaction dated 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 directly owns 10,631 shares in the company, valued at approximately $2,875,791.81. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other news, insider Karl W. Studer sold 23,357 shares of the company's stock in a transaction on Wednesday, August 21st. The shares were sold at an average price of $270.51, for a total value of $6,318,302.07. Following the transaction, the insider now owns 10,631 shares of the company's stock, valued at approximately $2,875,791.81. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO Earl C. Jr. Austin sold 130,000 shares of Quanta Services stock in a transaction dated 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 sale, the chief executive officer now owns 593,402 shares of the company's stock, valued at approximately $155,595,938.42. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 202,357 shares of company stock valued at $53,115,572 over the last ninety days. Corporate insiders own 1.10% of the company's stock.

Institutional Investors Weigh In On Quanta Services

A number of large investors have recently modified their holdings of the stock. EntryPoint Capital LLC bought a new position in shares of Quanta Services during the first quarter valued at $25,000. Private Ocean LLC bought a new stake in Quanta Services during the 1st quarter valued at about $26,000. Salomon & Ludwin LLC bought a new position in shares of Quanta Services in the first quarter worth approximately $26,000. Cambridge Trust Co. purchased a new stake in shares of Quanta Services during the first quarter valued at approximately $26,000. Finally, Valley Wealth Managers Inc. purchased a new stake in Quanta Services during the 2nd quarter valued at $33,000. Institutional investors own 90.49% of the company's stock.

Quanta Services Trading Up 0.6 %

The stock has a fifty day simple moving average of $271.37 and a 200 day simple moving average of $265.94. The company has a debt-to-equity ratio of 0.45, a quick ratio of 1.25 and a current ratio of 1.30. The firm has a market cap of $45.31 billion, a P/E ratio of 59.60 and a beta of 1.01.

Quanta Services (NYSE:PWR - Get Free Report) last posted its quarterly earnings data on Thursday, August 1st. The construction company reported $1.90 EPS for the quarter, beating analysts' consensus estimates of $1.75 by $0.15. Quanta Services had a return on equity of 16.29% and a net margin of 3.59%. The company had revenue of $5.59 billion during the quarter, compared to analysts' expectations of $5.51 billion. During the same quarter in the prior year, the business earned $1.47 earnings per share. Quanta Services's revenue for the quarter was up 10.8% compared to the same quarter last year. On average, research analysts expect that Quanta Services, Inc. will post 7.82 earnings per share for the current fiscal year.

Quanta Services Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, October 11th. Stockholders of record on Tuesday, October 1st will be issued a $0.09 dividend. The ex-dividend date of this dividend is Tuesday, October 1st. This represents a $0.36 annualized dividend and a dividend yield of 0.12%. Quanta Services's payout ratio is 6.98%.

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.