Quanta Services, Inc. (NYSE:PWR - Get Free Report)'s stock price reached a new 52-week high on Monday . The stock traded as high as $317.41 and last traded at $316.97, with a volume of 33648 shares changing hands. The stock had previously closed at $314.27.
Analysts Set New Price Targets
Several equities analysts have recently issued reports on PWR shares. JPMorgan Chase & Co. started coverage on shares of Quanta Services in a research note on Monday, October 7th. They issued a "neutral" rating and a $297.00 price objective on the stock. Stifel Nicolaus lifted their price objective on shares of Quanta Services from $283.00 to $342.00 and gave the stock a "buy" rating in a research note on Thursday, October 10th. Robert W. Baird lifted their price objective 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. Jefferies Financial Group started coverage on shares of Quanta Services in a research note on Wednesday, September 4th. They issued a "hold" rating and a $256.00 price objective on the stock. Finally, TD Cowen lifted their price objective on shares of Quanta Services from $280.00 to $335.00 and gave the stock a "buy" rating in a research note on Tuesday, October 15th. Four analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $303.86.
Read Our Latest Stock Report on PWR
Quanta Services Stock Performance
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 has a market capitalization of $46.50 billion, a price-to-earnings ratio of 61.56 and a beta of 1.01. The firm's fifty day moving average is $282.87 and its 200 day moving average is $269.60.
Quanta Services (NYSE:PWR - Get Free Report) last posted its quarterly earnings results on Thursday, August 1st. The construction company reported $1.90 EPS for the quarter, topping the consensus estimate of $1.75 by $0.15. The business had revenue of $5.59 billion during the quarter, compared to analysts' expectations of $5.51 billion. Quanta Services had a net margin of 3.59% and a return on equity of 16.29%. The firm's quarterly revenue was up 10.8% compared to the same quarter last year. During the same period last year, the company posted $1.47 earnings per share. On average, analysts predict that Quanta Services, Inc. will post 7.83 EPS for the current fiscal year.
Quanta Services Announces Dividend
The business also recently declared a quarterly dividend, which was paid on Friday, October 11th. Investors of record on Tuesday, October 1st were issued a dividend of $0.09 per share. This represents a $0.36 annualized dividend and a dividend yield of 0.11%. The ex-dividend date of this dividend was Tuesday, October 1st. Quanta Services's dividend payout ratio is currently 6.98%.
Insider Buying and Selling
In other Quanta Services news, insider Karl W. Studer sold 23,357 shares of Quanta Services stock in a transaction that occurred 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 completion of the sale, the insider now directly owns 10,631 shares in the company, valued at $2,875,791.81. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other Quanta Services news, insider Karl W. Studer sold 23,357 shares of Quanta Services stock in a transaction that occurred 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 completion of the sale, the insider now directly owns 10,631 shares in the company, valued at $2,875,791.81. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, COO James Redgie Probst sold 34,000 shares of Quanta Services stock in a transaction that occurred on Friday, August 9th. The shares were sold at an average price of $260.03, for a total transaction of $8,841,020.00. Following the completion of the sale, the chief operating officer now owns 29,002 shares of the company's stock, valued at $7,541,390.06. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 202,357 shares of company stock worth $53,115,572. 1.10% of the stock is owned by company insiders.
Hedge Funds Weigh In On Quanta Services
A number of institutional investors have recently modified their holdings of the company. Vanguard Group Inc. raised its position in shares of Quanta Services by 0.6% in the first quarter. Vanguard Group Inc. now owns 16,341,230 shares of the construction company's stock valued at $4,245,452,000 after purchasing an additional 105,355 shares during the period. JPMorgan Chase & Co. raised its position in shares of Quanta Services by 2.4% in the first quarter. JPMorgan Chase & Co. now owns 6,760,260 shares of the construction company's stock valued at $1,756,316,000 after purchasing an additional 156,627 shares during the period. Capital World Investors raised its position in shares of Quanta Services by 10.7% in the first quarter. Capital World Investors now owns 6,643,733 shares of the construction company's stock valued at $1,726,042,000 after purchasing an additional 643,011 shares during the period. Electron Capital Partners LLC raised its position in shares of Quanta Services by 395.1% in the second quarter. Electron Capital Partners LLC now owns 2,622,142 shares of the construction company's stock valued at $666,260,000 after purchasing an additional 2,092,519 shares during the period. Finally, Massachusetts Financial Services Co. MA raised its position in shares of Quanta Services by 17.8% in the second quarter. Massachusetts Financial Services Co. MA now owns 1,235,655 shares of the construction company's stock valued at $313,968,000 after purchasing an additional 186,306 shares during the period. Institutional investors own 90.49% of the company's stock.
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.
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