JPMorgan Chase & Co. began coverage on shares of Quanta Services (NYSE:PWR - Free Report) in a research report sent to investors on Monday, Marketbeat Ratings reports. The firm issued a neutral rating and a $297.00 price target on the construction company's stock.
A number of other equities research analysts have also issued reports on the company. Robert W. Baird upped their target price on Quanta Services from $287.00 to $288.00 and gave the company an outperform rating in a research note on Friday, July 19th. TD Cowen increased their price objective on Quanta Services from $270.00 to $280.00 and gave the company a buy rating in a research note on Thursday, August 8th. Jefferies Financial Group assumed coverage on shares of Quanta Services in a research note on Wednesday, September 4th. They issued a hold rating and a $256.00 target price for the company. B. Riley raised their price target on shares of Quanta Services from $286.00 to $303.00 and gave the stock a buy rating in a research note on Friday, August 2nd. Finally, Northland Securities upped their price objective on shares of Quanta Services from $264.00 to $280.00 and gave the company an outperform 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's stock. According to MarketBeat.com, the stock presently has a consensus rating of Moderate Buy and a consensus price target of $290.71.
Read Our Latest Report on Quanta Services
Quanta Services Price Performance
Shares of NYSE PWR traded up $1.79 during midday trading on Monday, hitting $307.51. The company had a trading volume of 807,549 shares, compared to its average volume of 909,482. The company has a quick ratio of 1.25, a current ratio of 1.30 and a debt-to-equity ratio of 0.45. The business has a 50-day simple moving average of $270.34 and a two-hundred day simple moving average of $265.58. Quanta Services has a twelve month low of $153.74 and a twelve month high of $308.31. The firm has a market capitalization of $45.31 billion, a price-to-earnings ratio of 59.25 and a beta of 1.01.
Quanta Services (NYSE:PWR - Get Free Report) last released its quarterly earnings data on Thursday, August 1st. The construction company reported $1.90 earnings per share for the quarter, beating the consensus estimate of $1.75 by $0.15. Quanta Services had a return on equity of 16.29% and a net margin of 3.59%. The firm had revenue of $5.59 billion during the quarter, compared to the consensus estimate of $5.51 billion. During the same period last year, the business posted $1.47 EPS. Quanta Services's quarterly revenue was up 10.8% on a year-over-year basis. Equities research analysts anticipate that Quanta Services will post 7.82 earnings per share for the current year.
Quanta Services Announces Dividend
The firm also recently declared a quarterly dividend, which will be paid on Friday, October 11th. Shareholders of record on Tuesday, October 1st will be given a dividend of $0.09 per share. The ex-dividend date is Tuesday, October 1st. This represents a $0.36 dividend on an annualized basis and a yield of 0.12%. Quanta Services's dividend payout ratio (DPR) is 6.98%.
Insider Transactions at Quanta Services
In related news, CEO Earl C. Jr. Austin sold 130,000 shares of Quanta Services stock in a transaction on Wednesday, August 14th. The shares were 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 owns 593,402 shares in the company, valued at approximately $155,595,938.42. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. In other Quanta Services news, CEO Earl C. Jr. Austin sold 130,000 shares of the company's stock in a transaction that occurred on Wednesday, August 14th. The stock was 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 represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Gerald A. Ducey, Jr. sold 15,000 shares of Quanta Services stock in a transaction that occurred 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 in the company, valued at $5,490,297.98. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 202,357 shares of company stock valued at $53,115,572 over the last 90 days. Corporate insiders own 1.10% of the company's stock.
Institutional Trading of Quanta Services
Several large investors have recently modified their holdings of the business. Vanguard Group Inc. boosted its holdings in 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 last quarter. JPMorgan Chase & Co. increased its stake 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 worth $1,756,316,000 after buying an additional 156,627 shares during the last quarter. Capital World Investors raised its holdings in 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 acquiring an additional 643,011 shares in the last quarter. Electron Capital Partners LLC boosted its stake in Quanta Services by 395.1% during the 2nd quarter. Electron Capital Partners LLC now owns 2,622,142 shares of the construction company's stock valued at $666,260,000 after acquiring an additional 2,092,519 shares during the last quarter. Finally, Massachusetts Financial Services Co. MA grew its holdings in Quanta Services by 17.8% during the 2nd quarter. Massachusetts Financial Services Co. MA now owns 1,235,655 shares of the construction company's stock worth $313,968,000 after acquiring an additional 186,306 shares in the last quarter. 90.49% of the stock is currently owned by institutional investors and hedge funds.
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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