Quanta Services, Inc. (NYSE:PWR - Get Free Report)'s stock price gapped down before the market opened on Monday . The stock had previously closed at $358.03, but opened at $314.94. Quanta Services shares last traded at $308.59, with a volume of 1,101,376 shares changing hands.
Wall Street Analyst Weigh In
A number of research firms recently commented on PWR. Stifel Nicolaus upped their price target on shares of Quanta Services from $374.00 to $388.00 and gave the company a "buy" rating in a report on Wednesday, January 22nd. Robert W. Baird boosted their price objective on shares of Quanta Services from $320.00 to $333.00 and gave the company an "outperform" rating in a research report on Friday, November 1st. UBS Group boosted their price objective on shares of Quanta Services from $313.00 to $367.00 and gave the company a "buy" rating in a research report on Wednesday, October 23rd. Bank of America assumed coverage on shares of Quanta Services in a research report on Friday, January 24th. They set a "buy" rating and a $407.00 price objective on the stock. Finally, Daiwa America raised shares of Quanta Services to a "strong-buy" rating in a research report on Friday, December 6th. Four research analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $330.06.
Read Our Latest Stock Report on Quanta Services
Quanta Services Stock Up 1.6 %
The company's 50-day moving average is $330.55 and its 200 day moving average is $300.60. The company has a market capitalization of $44.10 billion, a PE ratio of 55.12 and a beta of 1.06. The company has a debt-to-equity ratio of 0.58, a quick ratio of 1.19 and a current ratio of 1.23.
Quanta Services (NYSE:PWR - Get Free Report) last announced its quarterly earnings data on Thursday, October 31st. The construction company reported $2.72 EPS for the quarter, beating 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 company had revenue of $6.49 billion for the quarter, compared to the consensus estimate of $6.56 billion. During the same period in the prior year, the firm posted $2.08 EPS. Quanta Services's revenue for the quarter was up 15.5% on a year-over-year basis. As a group, analysts anticipate that Quanta Services, Inc. will post 7.9 EPS for the current year.
Quanta Services Increases Dividend
The company also recently disclosed a quarterly dividend, which was paid on Monday, January 13th. Investors of record on Thursday, January 2nd were given a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a yield of 0.13%. This is an increase from Quanta Services's previous quarterly dividend of $0.09. The ex-dividend date of this dividend was Thursday, January 2nd. Quanta Services's dividend payout ratio is 7.38%.
Institutional Trading of Quanta Services
Institutional investors have recently bought and sold shares of the company. Alkeon Capital Management LLC lifted its stake in Quanta Services by 62.5% during the 3rd quarter. Alkeon Capital Management LLC now owns 650,000 shares of the construction company's stock valued at $193,798,000 after acquiring an additional 250,000 shares during the period. Union Bancaire Privee UBP SA purchased a new stake in Quanta Services in the 4th quarter worth approximately $46,364,000. International Assets Investment Management LLC increased its holdings in Quanta Services by 29,655.3% in the 3rd quarter. International Assets Investment Management LLC now owns 148,479 shares of the construction company's stock worth $44,269,000 after acquiring an additional 147,980 shares in the last quarter. Public Sector Pension Investment Board increased its holdings in Quanta Services by 81.7% in the 3rd quarter. Public Sector Pension Investment Board now owns 279,089 shares of the construction company's stock worth $83,210,000 after acquiring an additional 125,530 shares in the last quarter. Finally, Meitav Investment House Ltd. purchased a new stake in Quanta Services in the 3rd quarter worth approximately $27,430,000. 90.49% of the stock is owned by hedge funds and other institutional investors.
About Quanta Services
(
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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