Quanta Services, Inc. (NYSE:PWR - Free Report) - Stock analysts at DA Davidson upped their FY2024 EPS estimates for shares of Quanta Services in a report issued on Monday, November 4th. DA Davidson analyst B. Thielman now forecasts that the construction company will post earnings per share of $7.87 for the year, up from their prior estimate of $7.78. The consensus estimate for Quanta Services' current full-year earnings is $7.82 per share. DA Davidson also issued estimates for Quanta Services' Q4 2024 earnings at $2.41 EPS and FY2025 earnings at $9.34 EPS.
Quanta Services (NYSE:PWR - Get Free Report) last issued its quarterly earnings data on Thursday, October 31st. The construction company reported $2.72 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.46 by $0.26. Quanta Services had a net margin of 3.54% and a return on equity of 16.71%. The firm had revenue of $6.49 billion during the quarter, compared to the consensus estimate of $6.56 billion. During the same period last year, the business posted $2.08 earnings per share. The business's revenue for the quarter was up 15.5% compared to the same quarter last year.
A number of other brokerages have also recently issued reports on PWR. Wolfe Research began coverage on shares of Quanta Services in a research report on Thursday, September 19th. They issued an "outperform" rating and a $313.00 target price for the company. UBS Group raised their price objective on Quanta Services from $313.00 to $367.00 and gave the stock a "buy" rating in a research note on Wednesday, October 23rd. Robert W. Baird increased their target price on Quanta Services from $320.00 to $333.00 and gave the stock an "outperform" rating in a report on Friday. Stifel Nicolaus raised their price target on Quanta Services from $283.00 to $342.00 and gave the stock a "buy" rating in a research report on Thursday, October 10th. Finally, Truist Financial upped their price objective on shares of Quanta Services from $319.00 to $358.00 and gave the stock a "buy" rating in a research report on Wednesday, October 9th. Four investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. According to data from MarketBeat, Quanta Services currently has a consensus rating of "Moderate Buy" and a consensus target price of $314.27.
View Our Latest Research Report on Quanta Services
Quanta Services Stock Performance
PWR traded up $10.30 during trading on Tuesday, hitting $314.62. The stock had a trading volume of 839,087 shares, compared to its average volume of 886,850. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.23 and a quick ratio of 1.19. The firm has a market cap of $46.44 billion, a price-to-earnings ratio of 56.15 and a beta of 1.01. The company has a 50 day moving average price of $291.06 and a 200-day moving average price of $273.46. Quanta Services has a one year low of $163.93 and a one year high of $317.91.
Institutional Trading of Quanta Services
A number of large investors have recently bought and sold shares of the business. Private Advisor Group LLC boosted its stake in Quanta Services by 3.4% during the first quarter. Private Advisor Group LLC now owns 8,589 shares of the construction company's stock worth $2,232,000 after acquiring an additional 286 shares in the last quarter. Graypoint LLC acquired a new stake in shares of Quanta Services in the 1st quarter valued at about $207,000. Salomon & Ludwin LLC acquired a new position in Quanta Services during the 1st quarter worth approximately $26,000. United Community Bank boosted its holdings in Quanta Services by 16.7% in the first quarter. United Community Bank now owns 594 shares of the construction company's stock worth $154,000 after acquiring an additional 85 shares in the last quarter. Finally, Mediolanum International Funds Ltd bought a new stake in shares of Quanta Services during the first quarter valued at approximately $3,121,000. 90.49% of the stock is currently owned by institutional investors and hedge funds.
Insider Activity
In related news, CEO Earl C. Jr. Austin sold 130,000 shares of the firm's stock in a transaction that occurred 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 transaction, the chief executive officer now owns 593,402 shares in the company, valued at $155,595,938.42. This trade represents 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. 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 sale, the insider now directly owns 10,631 shares of the company's stock, valued at approximately $2,875,791.81. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO Earl C. Jr. Austin sold 130,000 shares of Quanta Services stock in a transaction 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 transaction, the chief executive officer now directly owns 593,402 shares of the company's stock, valued at $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 three months, insiders have sold 202,357 shares of company stock valued at $53,115,572. 1.10% of the stock is currently owned by corporate insiders.
Quanta Services Dividend Announcement
The company also recently announced a quarterly dividend, which was paid on Friday, October 11th. Shareholders of record on Tuesday, October 1st were given a $0.09 dividend. The ex-dividend date of this dividend was Tuesday, October 1st. This represents a $0.36 annualized dividend and a yield of 0.11%. Quanta Services's dividend payout ratio is presently 6.64%.
About Quanta Services
(
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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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