Quanta Services (NYSE:PWR) Hits New 52-Week High Following Analyst Upgrade

Quanta Services, Inc. (NYSE:PWR - Get Free Report)'s stock price reached a new 52-week high during trading on Monday after B. Riley raised their price target on the stock from $246.00 to $286.00. B. Riley currently has a buy rating on the stock. Quanta Services traded as high as $270.42 and last traded at $268.16, with a volume of 576463 shares traded. The stock had previously closed at $256.33.

Other analysts have also recently issued research reports about the stock. Stifel Nicolaus boosted their price objective on shares of Quanta Services from $237.00 to $252.00 and gave the stock a "buy" rating in a research note on Friday, February 23rd. DA Davidson upped their price target on Quanta Services from $190.00 to $225.00 and gave the company a "neutral" rating in a research report on Wednesday, February 28th. Robert W. Baird lifted their price objective on Quanta Services from $265.00 to $287.00 and gave the stock an "outperform" rating in a research note on Friday. Evercore ISI initiated coverage on shares of Quanta Services in a research report on Tuesday, February 13th. They set an "outperform" rating and a $237.00 target price for the company. Finally, Citigroup boosted their price target 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. Three investment 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.com, Quanta Services presently has an average rating of "Moderate Buy" and a consensus price target of $256.15.

Insider Buying and Selling

In other Quanta Services news, EVP Derrick A. Jensen sold 18,500 shares of Quanta Services stock in a transaction 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 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 legal filing with the SEC, which is available at the SEC website. In related news, Director Worthing Jackman sold 9,572 shares of Quanta Services 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 sale, the director now owns 7,486 shares of the company's stock, valued at approximately $1,776,502.66. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, EVP Derrick A. Jensen sold 18,500 shares of the company's stock in a transaction on Tuesday, February 27th. The stock was 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 owns 263,725 shares in the company, valued at approximately $62,476,452.50. 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 over the last ninety days. 1.10% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Quanta Services

Hedge funds and other institutional investors have recently made changes to their positions in the business. Private Ocean LLC acquired a new position in Quanta Services during the 1st quarter valued at about $26,000. Salomon & Ludwin LLC bought a new position in shares of Quanta Services in the first quarter valued at approximately $26,000. Grove Bank & Trust boosted its position in shares of Quanta Services by 75.6% during the third quarter. Grove Bank & Trust now owns 158 shares of the construction company's stock valued at $30,000 after buying an additional 68 shares during the last quarter. Hazlett Burt & Watson Inc. raised its position in 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 position in Quanta Services during the 4th quarter worth $34,000. 90.49% of the stock is owned by institutional investors.

Quanta Services Stock Performance

The company has a debt-to-equity ratio of 0.50, a quick ratio of 1.32 and a current ratio of 1.36. The company's 50 day moving average price is $251.36 and its 200-day moving average price is $215.69. The stock has a market cap of $39.44 billion, a P/E ratio of 52.22 and a beta of 1.10.

Quanta Services (NYSE:PWR - Get Free Report) last posted its quarterly earnings data on Thursday, February 22nd. The construction company reported $2.04 EPS for the quarter, beating the consensus estimate of $1.83 by $0.21. Quanta Services had a net margin of 3.57% and a return on equity of 16.25%. The firm had revenue of $5.78 billion during the quarter, compared to analyst estimates of $5.19 billion. During the same quarter last year, the business posted $1.54 EPS. The company's revenue for the quarter was up 31.0% on a year-over-year basis. Equities analysts forecast that Quanta Services, Inc. will post 7.63 EPS for the current fiscal year.

Quanta Services Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, April 17th. Stockholders of record on Tuesday, April 9th were given a dividend of $0.09 per share. This represents a $0.36 annualized dividend and a dividend yield of 0.13%. The ex-dividend date of this dividend was Monday, April 8th. Quanta Services's dividend payout ratio is presently 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.