Quanta Services (NYSE:PWR) Trading Up 3.3%

Shares of Quanta Services, Inc. (NYSE:PWR) were up 3.3% on Thursday . The stock traded as high as $281.08 and last traded at $279.95. Approximately 974,069 shares changed hands during trading, an increase of 5% from the average daily volume of 928,108 shares. The stock had previously closed at $271.10.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on PWR shares. DA Davidson increased their price objective on shares of Quanta Services from $225.00 to $250.00 and gave the stock a “neutral” rating in a report on Tuesday, May 7th. Evercore ISI lifted their price objective on shares of Quanta Services from $255.00 to $288.00 and gave the company an “outperform” rating in a research note on Tuesday, May 7th. TD Cowen lifted their price target on Quanta Services from $205.00 to $270.00 and gave the stock an “outperform” rating in a research note on Tuesday, February 27th. The Goldman Sachs Group lifted their price target on Quanta Services from $227.00 to $259.00 and gave the company a “buy” rating in a report on Monday, February 26th. Finally, B. Riley boosted their target price on Quanta Services from $246.00 to $286.00 and gave the stock a “buy” rating in a report on Friday, May 3rd. Three equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. According to data from MarketBeat, Quanta Services currently has a consensus rating of “Moderate Buy” and an average price target of $262.00.

Quanta Services Stock Up 2.5 %

The stock has a market capitalization of $41.49 billion, a P/E ratio of 54.93 and a beta of 1.10. The stock has a fifty day moving average price of $259.21 and a 200 day moving average price of $224.98. 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 results on Thursday, May 2nd. The construction company reported $1.23 earnings per share for the quarter, beating analysts’ consensus estimates of $1.09 by $0.14. The business had revenue of $5.03 billion for the quarter, compared to the consensus estimate of $4.96 billion. Quanta Services had a return on equity of 16.25% and a net margin of 3.57%. On average, research analysts forecast that Quanta Services, Inc. will post 7.69 earnings per share for the current year.

Quanta Services Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, July 12th. Stockholders of record on Monday, July 1st will be given a $0.09 dividend. The ex-dividend date of this dividend is Monday, July 1st. This represents a $0.36 dividend on an annualized basis and a dividend yield of 0.13%. Quanta Services’s dividend payout ratio is currently 6.98%.

Insider Buying and Selling

In other Quanta Services news, Director Worthing Jackman sold 9,572 shares of the business’s stock in a transaction on Wednesday, February 28th. The shares were 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 directly owns 7,486 shares in the company, valued at approximately $1,776,502.66. The sale was disclosed in a document filed with the SEC, which is available through this link. In related news, Director Worthing Jackman sold 9,572 shares of the company’s stock in a transaction on Wednesday, February 28th. The shares were sold at an average price of $237.31, for a total value of $2,271,531.32. Following the completion of the transaction, the director now owns 7,486 shares of the company’s stock, valued at approximately $1,776,502.66. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, EVP Derrick A. Jensen sold 18,500 shares of the stock in a transaction dated 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 transaction, the executive vice president now directly owns 263,725 shares of the company’s stock, valued at approximately $62,476,452.50. The disclosure for this sale can be found here. Insiders sold a total of 47,125 shares of company stock worth $11,270,215 in the last three months. Insiders own 1.10% of the company’s stock.

Institutional Trading of Quanta Services

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in PWR. Artisan Partners Limited Partnership lifted its stake in shares of Quanta Services by 384.9% during the fourth quarter. Artisan Partners Limited Partnership now owns 2,438,653 shares of the construction company’s stock worth $526,261,000 after buying an additional 1,935,786 shares during the period. Norges Bank acquired a new stake in shares of Quanta Services during the fourth quarter worth $335,777,000. Public Employees Retirement Association of Colorado lifted its stake in shares of Quanta Services by 20,298.9% during the fourth quarter. Public Employees Retirement Association of Colorado now owns 1,057,681 shares of the construction company’s stock worth $228,248,000 after buying an additional 1,052,496 shares during the period. Nordea Investment Management AB lifted its stake in shares of Quanta Services by 8,297.7% during the fourth quarter. Nordea Investment Management AB now owns 912,413 shares of the construction company’s stock worth $196,205,000 after buying an additional 901,548 shares during the period. Finally, Swedbank AB acquired a new stake in shares of Quanta Services during the first quarter worth $227,218,000. 90.49% of the stock is owned by hedge funds and other institutional investors.

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.