Quanta Services (NYSE:PWR) Reaches New 52-Week High at $262.27

Quanta Services, Inc. (NYSE:PWR - Get Free Report)'s stock price reached a new 52-week high during mid-day trading on Wednesday . The stock traded as high as $262.27 and last traded at $261.68, with a volume of 228316 shares traded. The stock had previously closed at $256.10.

Analysts Set New Price Targets

Several research firms have recently commented on PWR. 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. Stifel Nicolaus boosted their price objective on Quanta Services from $237.00 to $252.00 and gave the stock a "buy" rating in a report on Friday, February 23rd. KeyCorp initiated coverage on shares of Quanta Services in a research note on Wednesday, January 10th. They issued a "sector weight" rating on the stock. The Goldman Sachs Group increased their price objective on shares of Quanta Services from $227.00 to $259.00 and gave the company a "buy" rating in a report on Monday, February 26th. Finally, Truist Financial started coverage on shares of Quanta Services in a report on Thursday, March 14th. They set a "buy" rating and a $301.00 target price for the company. Three investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company's stock. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $239.54.

Quanta Services Trading Up 2.5 %

The company has a quick ratio of 1.44, a current ratio of 1.47 and a debt-to-equity ratio of 0.58. The stock has a market capitalization of $38.24 billion, a P/E ratio of 52.37 and a beta of 1.11. The company has a fifty day simple moving average of $230.35 and a two-hundred day simple moving average of $203.52.

Quanta Services (NYSE:PWR - Get Free Report) last released its quarterly earnings data on Thursday, February 22nd. The construction company reported $2.04 earnings per share for the quarter, beating the consensus estimate of $1.83 by $0.21. The business had revenue of $5.78 billion for the quarter, compared to analysts' expectations of $5.19 billion. Quanta Services had a return on equity of 16.46% and a net margin of 3.57%. Quanta Services's revenue for the quarter was up 31.0% on a year-over-year basis. During the same quarter in the previous year, the business posted $1.54 EPS. On average, sell-side analysts expect that Quanta Services, Inc. will post 7.63 earnings per share for the current year.

Quanta Services Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 17th. Investors of record on Tuesday, April 9th will be given a $0.09 dividend. The ex-dividend date of this dividend is Monday, April 8th. This represents a $0.36 annualized dividend and a yield of 0.14%. Quanta Services's dividend payout ratio is currently 7.19%.

Insiders Place Their Bets

In related news, EVP Donald Wayne sold 1,101 shares of Quanta Services stock in a transaction that occurred on Wednesday, March 27th. The stock was sold at an average price of $261.94, for a total value of $288,395.94. Following the sale, the executive vice president now owns 40,065 shares of the company's stock, valued at approximately $10,494,626.10. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In related news, EVP Donald Wayne sold 1,101 shares of the stock in a transaction on Wednesday, March 27th. The shares were sold at an average price of $261.94, for a total transaction of $288,395.94. Following the completion of the transaction, the executive vice president now owns 40,065 shares in the company, valued at $10,494,626.10. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Margaret B. Shannon sold 8,515 shares of Quanta Services stock in a transaction on Friday, March 1st. The shares were sold at an average price of $239.92, for a total transaction of $2,042,918.80. Following the completion of the sale, the director now owns 34,063 shares in the company, valued at $8,172,394.96. The disclosure for this sale can be found here. In the last 90 days, insiders sold 47,125 shares of company stock worth $11,270,215. Corporate insiders own 1.30% of the company's stock.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the stock. Artisan Partners Limited Partnership grew its position in shares of Quanta Services by 384.9% in the 4th quarter. Artisan Partners Limited Partnership now owns 2,438,653 shares of the construction company's stock valued at $526,261,000 after acquiring an additional 1,935,786 shares during the period. Norges Bank bought a new position in Quanta Services during the fourth quarter worth about $335,777,000. Public Employees Retirement Association of Colorado boosted its stake in shares of Quanta Services by 20,298.9% during the 4th quarter. Public Employees Retirement Association of Colorado now owns 1,057,681 shares of the construction company's stock worth $228,248,000 after acquiring an additional 1,052,496 shares during the period. Nordea Investment Management AB increased its holdings in shares of Quanta Services by 8,297.7% during the 4th quarter. Nordea Investment Management AB now owns 912,413 shares of the construction company's stock worth $196,205,000 after acquiring an additional 901,548 shares during the last quarter. Finally, Capital World Investors raised its stake in Quanta Services by 11.6% in the 4th quarter. Capital World Investors now owns 6,000,722 shares of the construction company's stock valued at $1,294,956,000 after acquiring an additional 624,545 shares during the period. 90.49% of the stock is owned by institutional investors and hedge funds.

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.