Quanta Services (NYSE:PWR) Reaches New 52-Week High - Should You Buy?

Quanta Services, Inc. (NYSE:PWR - Get Free Report) shares hit a new 52-week high during mid-day trading on Thursday . The company traded as high as $318.34 and last traded at $317.87, with a volume of 65404 shares changing hands. The stock had previously closed at $310.82.

Analysts Set New Price Targets

PWR has been the subject of several research analyst reports. Wolfe Research initiated coverage on shares of Quanta Services in a research note on Thursday, September 19th. They set an "outperform" rating and a $313.00 target price for the company. TD Cowen increased their target price 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. Robert W. Baird increased their target price on shares of Quanta Services from $320.00 to $333.00 and gave the stock an "outperform" rating in a research note on Friday, November 1st. Northland Securities reaffirmed an "outperform" rating and set a $328.00 target price (up previously from $280.00) on shares of Quanta Services in a research note on Friday, November 1st. Finally, B. Riley increased their target price 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. Four investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $314.27.

Quanta Services Price Performance

The company has a debt-to-equity ratio of 0.58, a quick ratio of 1.19 and a current ratio of 1.23. The company has a market cap of $47.36 billion, a PE ratio of 59.20 and a beta of 1.01. The company's 50-day simple moving average is $293.81 and its 200 day simple moving average is $274.54.

Quanta Services (NYSE:PWR - Get Free Report) last released 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. The business had revenue of $6.49 billion during the quarter, compared to analysts' expectations of $6.56 billion. Quanta Services had a net margin of 3.54% and a return on equity of 16.71%. The company's revenue for the quarter was up 15.5% on a year-over-year basis. During the same period in the previous year, the company earned $2.08 EPS. On average, sell-side analysts predict that Quanta Services, Inc. will post 7.83 earnings per share for the current fiscal year.

Quanta Services Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, October 11th. Stockholders of record on Tuesday, October 1st were given a dividend of $0.09 per share. The ex-dividend date was Tuesday, October 1st. This represents a $0.36 annualized dividend and a dividend yield of 0.11%. Quanta Services's dividend payout ratio (DPR) is currently 6.64%.

Insider Transactions at Quanta Services

In other 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 completion of the sale, the chief executive officer now directly owns 593,402 shares of the company's stock, valued at approximately $155,595,938.42. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, CEO Earl C. Jr. Austin sold 130,000 shares of the business's stock in a transaction 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 sale, the chief executive officer now directly owns 593,402 shares of the company's stock, valued at $155,595,938.42. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, 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 completion of the transaction, the insider now owns 21,286 shares in the company, valued at approximately $5,490,297.98. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 202,357 shares of company stock valued at $53,115,572. Insiders own 1.10% of the company's stock.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of PWR. Csenge Advisory Group increased its stake in Quanta Services by 24.1% in the first quarter. Csenge Advisory Group now owns 3,321 shares of the construction company's stock valued at $863,000 after purchasing an additional 645 shares during the period. Empirical Finance LLC increased its stake in shares of Quanta Services by 3.5% during the first quarter. Empirical Finance LLC now owns 5,107 shares of the construction company's stock worth $1,327,000 after acquiring an additional 175 shares during the period. Empowered Funds LLC increased its stake in shares of Quanta Services by 24.2% during the first quarter. Empowered Funds LLC now owns 1,835 shares of the construction company's stock worth $477,000 after acquiring an additional 357 shares during the period. SG Americas Securities LLC increased its stake in shares of Quanta Services by 76.5% during the first quarter. SG Americas Securities LLC now owns 50,477 shares of the construction company's stock worth $13,114,000 after acquiring an additional 21,877 shares during the period. Finally, Alphinity Investment Management Pty Ltd increased its stake in shares of Quanta Services by 16.4% during the first quarter. Alphinity Investment Management Pty Ltd now owns 8,871 shares of the construction company's stock worth $2,305,000 after acquiring an additional 1,250 shares during the period. 90.49% of the stock is currently owned by institutional investors and hedge funds.

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.