Quanta Services (NYSE:PWR) Reaches New 1-Year High After Analyst Upgrade

Shares of Quanta Services, Inc. (NYSE:PWR) reached a new 52-week high on Monday after Evercore ISI raised their price target on the stock from $255.00 to $288.00. Evercore ISI currently has an outperform rating on the stock. Quanta Services traded as high as $270.42 and last traded at $268.16, with a volume of 576463 shares trading hands. The stock had previously closed at $256.33.

PWR has been the topic of several other research reports. B. Riley lifted their price target on shares of Quanta Services from $246.00 to $286.00 and gave the company a “buy” rating in a report on Friday, May 3rd. TD Cowen upped their target price on shares of Quanta Services from $205.00 to $270.00 and gave the stock an “outperform” rating in a report on Tuesday, February 27th. Citigroup boosted their price objective on Quanta Services from $275.00 to $285.00 and gave the company a “buy” rating in a research report on Monday, April 22nd. Stifel Nicolaus lifted their target price on Quanta Services from $237.00 to $252.00 and gave the company a “buy” rating in a research note on Friday, February 23rd. Finally, Robert W. Baird boosted their price target on Quanta Services from $265.00 to $287.00 and gave the stock an “outperform” rating in a report on Friday, May 3rd. Three equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. Based on data from MarketBeat, Quanta Services presently has an average rating of “Moderate Buy” and a consensus price target of $262.00.

Insider Buying and Selling

In other Quanta Services news, EVP Derrick A. Jensen sold 18,500 shares of Quanta Services stock in a transaction on Tuesday, February 27th. The shares were sold at an average price of $236.90, for a total value of $4,382,650.00. Following the completion of the transaction, the executive vice president now directly owns 263,725 shares of the company’s stock, valued at approximately $62,476,452.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other news, Director Margaret B. Shannon sold 8,515 shares of the business’s stock in a transaction that occurred on Friday, March 1st. The stock was sold at an average price of $239.92, for a total transaction of $2,042,918.80. Following the transaction, the director now owns 34,063 shares of the company’s stock, valued at approximately $8,172,394.96. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, EVP Derrick A. Jensen sold 18,500 shares of the stock in a transaction on Tuesday, February 27th. The shares were sold at an average price of $236.90, for a total value of $4,382,650.00. Following the sale, the executive vice president now owns 263,725 shares in the company, valued at approximately $62,476,452.50. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 47,125 shares of company stock worth $11,270,215. Insiders own 1.10% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of PWR. Wedmont Private Capital boosted its holdings in Quanta Services by 1.0% during the 1st quarter. Wedmont Private Capital now owns 4,674 shares of the construction company’s stock valued at $1,198,000 after acquiring an additional 47 shares during the period. Hazlett Burt & Watson Inc. increased its stake in Quanta Services by 47.3% in the 4th quarter. Hazlett Burt & Watson Inc. now owns 162 shares of the construction company’s stock worth $34,000 after buying an additional 52 shares during the period. Checchi Capital Advisers LLC boosted its position in Quanta Services by 4.6% in the 4th quarter. Checchi Capital Advisers LLC now owns 1,367 shares of the construction company’s stock valued at $295,000 after buying an additional 60 shares during the period. Tower Wealth Partners Inc. increased its position in shares of Quanta Services by 6.3% during the first quarter. Tower Wealth Partners Inc. now owns 1,040 shares of the construction company’s stock worth $270,000 after acquiring an additional 62 shares during the period. Finally, Wellington Shields Capital Management LLC raised its stake in shares of Quanta Services by 0.4% during the first quarter. Wellington Shields Capital Management LLC now owns 18,599 shares of the construction company’s stock valued at $4,832,000 after acquiring an additional 65 shares in the last quarter. Institutional investors own 90.49% of the company’s stock.

Quanta Services Stock Down 1.0 %

The business has a fifty day moving average of $251.91 and a 200-day moving average of $216.41. The stock has a market cap of $39.07 billion, a PE ratio of 51.72 and a beta of 1.10. The company has a debt-to-equity ratio of 0.50, a current ratio of 1.36 and a quick ratio of 1.32.

Quanta Services (NYSE:PWR) last released its quarterly earnings data on Thursday, February 22nd. The construction company reported $2.04 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.83 by $0.21. The firm had revenue of $5.78 billion for the quarter, compared to the consensus estimate of $5.19 billion. Quanta Services had a net margin of 3.57% and a return on equity of 16.25%. The company’s quarterly revenue was up 31.0% on a year-over-year basis. During the same period last year, the firm earned $1.54 earnings per share. Equities research analysts anticipate that Quanta Services, Inc. will post 7.63 earnings per share for the current year.

Quanta Services Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, April 17th. Shareholders of record on Tuesday, April 9th were paid a $0.09 dividend. The ex-dividend date was Monday, April 8th. This represents a $0.36 annualized dividend and a yield of 0.13%. Quanta Services’s dividend payout ratio (DPR) is presently 6.98%.

About Quanta Services

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.