Quanta Services (NYSE:PWR) Reaches New 12-Month High - Should You Buy?

Shares of Quanta Services, Inc. (NYSE:PWR - Get Free Report) hit a new 52-week high on Monday . The stock traded as high as $313.55 and last traded at $311.99, with a volume of 42722 shares changing hands. The stock had previously closed at $309.42.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on the stock. B. Riley raised their price objective on shares of Quanta Services from $286.00 to $303.00 and gave the stock a "buy" rating in a research report on Friday, August 2nd. Truist Financial raised their price objective on shares of Quanta Services from $319.00 to $358.00 and gave the company a "buy" rating in a research note on Wednesday, October 9th. Jefferies Financial Group assumed coverage on Quanta Services in a research report on Wednesday, September 4th. They set a "hold" rating and a $256.00 price objective on the stock. Wolfe Research started coverage on Quanta Services in a research note on Thursday, September 19th. They issued an "outperform" rating and a $313.00 price objective for the company. Finally, JPMorgan Chase & Co. started coverage on Quanta Services in a research report on Monday, October 7th. They set a "neutral" rating and a $297.00 price objective for the company. Four analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target of $299.93.

Quanta Services Stock Up 0.5 %

The company has a market cap of $45.52 billion, a PE ratio of 59.97 and a beta of 1.01. 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 fifty day simple moving average of $275.77 and a 200 day simple moving average of $267.36.

Quanta Services (NYSE:PWR - Get Free Report) last released its quarterly earnings data 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 business had revenue of $5.59 billion during the quarter, compared to the consensus estimate 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% on a year-over-year basis. During the same period in the prior year, the firm posted $1.47 EPS. Equities research analysts predict that Quanta Services, Inc. will post 7.81 EPS for the current year.

Quanta Services Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, October 11th. Shareholders of record on Tuesday, October 1st were paid a dividend of $0.09 per share. The ex-dividend date was Tuesday, October 1st. This represents a $0.36 annualized dividend and a yield of 0.12%. Quanta Services's dividend payout ratio is currently 6.98%.

Insider Activity

In related news, insider Gerald A. Ducey, Jr. sold 15,000 shares of the stock in a transaction on 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 sale, the insider now directly owns 21,286 shares in the company, valued at approximately $5,490,297.98. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, insider Gerald A. Ducey, Jr. sold 15,000 shares of Quanta Services stock in a transaction on 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 sale, the insider now owns 21,286 shares of the company's stock, valued at $5,490,297.98. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Karl W. Studer sold 23,357 shares of the company's stock in a transaction dated Wednesday, August 21st. The shares were sold at an average price of $270.51, for a total transaction of $6,318,302.07. Following the completion of the transaction, the insider now directly owns 10,631 shares of the company's stock, valued at approximately $2,875,791.81. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 202,357 shares of company stock valued at $53,115,572. Company insiders own 1.10% of the company's stock.

Institutional Trading of Quanta Services

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Nomura Holdings Inc. bought a new position in shares of Quanta Services during the fourth quarter worth about $631,000. Wellington Management Group LLP lifted its stake 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 worth $25,252,000 after purchasing an additional 99,840 shares during the last quarter. Vanguard Group Inc. boosted its holdings in Quanta Services by 1.2% in the fourth quarter. Vanguard Group Inc. now owns 16,235,875 shares of the construction company's stock worth $3,503,702,000 after purchasing an additional 191,334 shares during the period. Allen Investment Management LLC increased its stake 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 purchasing an additional 31,196 shares during the last quarter. Finally, Wealth Enhancement Advisory Services LLC lifted its holdings in Quanta Services by 5.7% in the second quarter. Wealth Enhancement Advisory Services LLC now owns 36,862 shares of the construction company's stock worth $9,366,000 after acquiring an additional 1,981 shares during the last quarter. Institutional investors own 90.49% of the company's stock.

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.