Quanta Services (NYSE:PWR) Reaches New 12-Month High Following Analyst Upgrade

Quanta Services, Inc. (NYSE:PWR)’s share price hit a new 52-week high during trading 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.

Other research analysts have also issued research reports about the stock. Robert W. Baird increased their target price on shares of Quanta Services from $265.00 to $287.00 and gave the stock an “outperform” rating in a research note on Friday, May 3rd. Citigroup increased their price objective on shares of Quanta Services from $275.00 to $285.00 and gave the stock a “buy” rating in a research report on Monday, April 22nd. B. Riley boosted their target price on Quanta Services from $246.00 to $286.00 and gave the company a “buy” rating in a research report on Friday, May 3rd. DA Davidson raised their price target on Quanta Services from $225.00 to $250.00 and gave the stock a “neutral” rating in a research report on Tuesday. Finally, Stifel Nicolaus boosted their price objective on Quanta Services from $237.00 to $252.00 and gave the company a “buy” rating in a report on Friday, February 23rd. Three analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $262.00.

Insiders Place Their Bets

In other news, EVP Derrick A. Jensen sold 18,500 shares of Quanta Services stock in a transaction dated 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 transaction, the executive vice president now owns 263,725 shares in the company, valued at approximately $62,476,452.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In related news, EVP Derrick A. Jensen sold 18,500 shares of the firm’s stock in a transaction that occurred 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 of the company’s stock, valued at $62,476,452.50. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, 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 disclosure for this sale can be found here. Insiders have sold a total of 47,125 shares of company stock worth $11,270,215 in the last quarter. 1.10% of the stock is owned by company insiders.

Institutional Trading of Quanta Services

A number of institutional investors have recently bought and sold shares of the business. Private Ocean LLC acquired a new stake in shares of Quanta Services during the 1st quarter worth about $26,000. Salomon & Ludwin LLC purchased a new stake in shares of Quanta Services during the 1st quarter worth approximately $26,000. Grove Bank & Trust boosted its holdings in shares of Quanta Services by 75.6% in the 3rd quarter. Grove Bank & Trust now owns 158 shares of the construction company’s stock valued at $30,000 after buying an additional 68 shares in the last quarter. Hazlett Burt & Watson Inc. grew its position in shares of Quanta Services by 47.3% in the 4th quarter. Hazlett Burt & Watson Inc. now owns 162 shares of the construction company’s stock valued at $34,000 after buying an additional 52 shares during the last quarter. Finally, Newbridge Financial Services Group Inc. purchased a new stake in Quanta Services in the fourth quarter valued at $34,000. 90.49% of the stock is owned by hedge funds and other institutional investors.

Quanta Services Stock Down 1.0 %

The firm’s 50 day simple moving average is $251.91 and its 200-day simple moving average is $216.41. The company has a debt-to-equity ratio of 0.50, a current ratio of 1.36 and a quick ratio of 1.32. The company has a market cap of $39.07 billion, a price-to-earnings ratio of 51.72 and a beta of 1.10.

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

Quanta Services Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, April 17th. Investors of record on Tuesday, April 9th were paid a dividend of $0.09 per share. This represents a $0.36 dividend on an annualized basis and a yield of 0.13%. The ex-dividend date was Monday, April 8th. Quanta Services’s dividend payout ratio is currently 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.