Quanta Services (NYSE:PWR) Reaches New 12-Month High at $257.85

Quanta Services, Inc. (NYSE:PWR) shares reached a new 52-week high during mid-day trading on Tuesday . The company traded as high as $257.85 and last traded at $256.97, with a volume of 45797 shares changing hands. The stock had previously closed at $255.54.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on PWR shares. DA Davidson raised their target price on Quanta Services from $190.00 to $225.00 and gave the stock a “neutral” rating in a research report on Wednesday, February 28th. TD Cowen lifted their target price on Quanta Services from $205.00 to $270.00 and gave the company an “outperform” rating in a research note on Tuesday, February 27th. Evercore ISI began coverage on Quanta Services in a report on Tuesday, February 13th. They issued an “outperform” rating and a $237.00 target price on the stock. KeyCorp initiated coverage on shares of Quanta Services in a report on Wednesday, January 10th. They set a “sector weight” rating for the company. Finally, The Goldman Sachs Group upped their price objective on shares of Quanta Services from $227.00 to $259.00 and gave the company a “buy” rating in a research note on Monday, February 26th. Three equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $239.54.

Quanta Services Trading Up 0.2 %

The company has a debt-to-equity ratio of 0.58, a quick ratio of 1.44 and a current ratio of 1.47. The company’s 50 day moving average price is $224.33 and its 200 day moving average price is $201.52. The company has a market cap of $37.86 billion, a price-to-earnings ratio of 51.85 and a beta of 1.10.

Quanta Services (NYSE:PWR) last posted its earnings results on Thursday, February 22nd. The construction company reported $2.04 earnings per share for the quarter, topping the consensus estimate of $1.83 by $0.21. Quanta Services had a return on equity of 16.46% and a net margin of 3.57%. The firm had revenue of $5.78 billion during the quarter, compared to analyst estimates of $5.19 billion. During the same period in the previous year, the company earned $1.54 EPS. The company’s revenue for the quarter was up 31.0% on a year-over-year basis. Research analysts anticipate that Quanta Services, Inc. will post 7.63 EPS for the current year.

Insiders Place Their Bets

In other news, EVP Derrick A. Jensen sold 18,500 shares of the stock in a transaction that occurred on Tuesday, February 27th. The stock was sold at an average price of $236.90, for a total value of $4,382,650.00. Following the completion of the sale, the executive vice president now directly owns 263,725 shares of the company’s stock, valued at $62,476,452.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, EVP Derrick A. Jensen sold 18,500 shares of the company’s stock in a transaction on Tuesday, February 27th. The shares were sold at an average price of $236.90, for a total transaction of $4,382,650.00. Following the completion of the transaction, the executive vice president now directly owns 263,725 shares in the company, valued at approximately $62,476,452.50. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Worthing Jackman sold 9,572 shares of the firm’s stock in a transaction on Wednesday, February 28th. The stock was sold at an average price of $237.31, for a total transaction of $2,271,531.32. Following the completion of the sale, the director now owns 7,486 shares in the company, valued at $1,776,502.66. The disclosure for this sale can be found here. Insiders have sold a total of 47,125 shares of company stock valued at $11,270,215 in the last three months. Company insiders own 1.20% of the company’s stock.

Institutional Trading of Quanta Services

Several institutional investors have recently modified their holdings of the company. Nomura Holdings Inc. bought a new position in Quanta Services in the fourth quarter worth $631,000. HighPoint Advisor Group LLC bought a new position in Quanta Services during the fourth quarter worth about $1,347,000. Walden Wealth Partners LLC acquired a new stake in Quanta Services during the fourth quarter valued at approximately $272,000. Vanguard Group Inc. grew its stake in shares of Quanta Services by 1.2% in the 4th quarter. Vanguard Group Inc. now owns 16,235,875 shares of the construction company’s stock valued at $3,503,702,000 after purchasing an additional 191,334 shares during the period. Finally, Wahed Invest LLC lifted its position in shares of Quanta Services by 7.3% during the 4th quarter. Wahed Invest LLC now owns 2,454 shares of the construction company’s stock worth $530,000 after buying an additional 166 shares during the period. Institutional investors and hedge funds own 90.49% of the company’s stock.

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.