Quanta Services, Inc. (NYSE:PWR) Receives Average Rating of “Moderate Buy” from Brokerages

Shares of Quanta Services, Inc. (NYSE:PWR) have earned a consensus recommendation of “Moderate Buy” from the thirteen analysts that are currently covering the stock, Marketbeat Ratings reports. Three investment analysts have rated the stock with a hold rating and ten have issued a buy rating on the company. The average 12 month price objective among brokerages that have issued ratings on the stock in the last year is $284.50.

A number of analysts have issued reports on PWR shares. Robert W. Baird raised their target price on Quanta Services from $287.00 to $288.00 and gave the stock an “outperform” rating in a research report on Friday, July 19th. Northland Securities upped their price objective on shares of Quanta Services from $264.00 to $280.00 and gave the company an “outperform” rating in a report on Friday, August 2nd. The Goldman Sachs Group increased their target price on shares of Quanta Services from $259.00 to $286.00 and gave the stock a “buy” rating in a research report on Tuesday, May 28th. TD Cowen raised their price objective on shares of Quanta Services from $270.00 to $280.00 and gave the stock a “buy” rating in a report on Thursday, August 8th. Finally, Truist Financial reissued a “buy” rating and set a $319.00 target price (up previously from $305.00) on shares of Quanta Services in a report on Monday, August 5th.

Quanta Services Price Performance

Shares of NYSE:PWR opened at $269.54 on Wednesday. The company has a market capitalization of $39.46 billion, a P/E ratio of 52.24 and a beta of 1.01. The company’s 50-day moving average is $260.21 and its 200 day moving average is $260.22. The company has a debt-to-equity ratio of 0.45, a quick ratio of 1.25 and a current ratio of 1.30. Quanta Services has a fifty-two week low of $153.74 and a fifty-two week high of $286.87.

Quanta Services (NYSE:PWR) last released its earnings results on Thursday, August 1st. The construction company reported $1.90 earnings per share for the quarter, beating analysts’ consensus estimates of $1.75 by $0.15. Quanta Services had a net margin of 3.59% and a return on equity of 16.29%. The firm had revenue of $5.59 billion for the quarter, compared to analysts’ expectations of $5.51 billion. During the same period in the previous year, the company earned $1.47 earnings per share. The company’s quarterly revenue was up 10.8% on a year-over-year basis. On average, equities research analysts forecast that Quanta Services will post 7.82 earnings per share for the current year.

Quanta Services Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, October 11th. Investors of record on Tuesday, October 1st will be given a dividend of $0.09 per share. This represents a $0.36 annualized dividend and a yield of 0.13%. The ex-dividend date of this dividend is Tuesday, October 1st. Quanta Services’s payout ratio is 6.98%.

Insider Buying and Selling at Quanta Services

In related news, insider Karl W. Studer sold 23,357 shares of the firm’s stock in a transaction that occurred on Wednesday, August 21st. The shares were sold at an average price of $270.51, for a total value of $6,318,302.07. Following the sale, the insider now directly owns 10,631 shares of the company’s stock, valued at $2,875,791.81. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, insider Karl W. Studer sold 23,357 shares of the stock in a transaction on Wednesday, August 21st. The stock was sold at an average price of $270.51, for a total value of $6,318,302.07. Following the transaction, the insider now owns 10,631 shares of the company’s stock, valued at $2,875,791.81. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Gerald A. Ducey, Jr. sold 15,000 shares of the firm’s stock in a transaction dated Friday, August 9th. The shares were sold at an average price of $257.93, for a total value of $3,868,950.00. Following the sale, the insider now owns 21,286 shares in the company, valued at approximately $5,490,297.98. The disclosure for this sale can be found here. Insiders have sold a total of 202,357 shares of company stock valued at $53,115,572 in the last 90 days. Corporate insiders own 1.10% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the business. EntryPoint Capital LLC purchased a new stake in shares of Quanta Services in the 1st quarter valued at $25,000. Private Ocean LLC purchased a new stake in Quanta Services during the first quarter valued at about $26,000. Salomon & Ludwin LLC bought a new position in shares of Quanta Services during the first quarter valued at about $26,000. Cambridge Trust Co. purchased a new position in shares of Quanta Services in the first quarter worth about $26,000. Finally, Valley Wealth Managers Inc. bought a new stake in shares of Quanta Services in the 2nd quarter valued at about $33,000. 90.49% of the stock is currently owned by 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.