Quanta Services (NYSE:PWR) Sets New 12-Month High at $273.00

Quanta Services, Inc. (NYSE:PWR - Get Free Report) reached a new 52-week high on Monday . The stock traded as high as $273.00 and last traded at $268.93, with a volume of 65307 shares changing hands. The stock had previously closed at $271.48.

Analyst Ratings Changes

PWR has been the subject of a number of analyst reports. Truist Financial restated a "buy" rating and issued a $305.00 price target (up from $301.00) on shares of Quanta Services in a research report on Monday, May 6th. B. Riley upped their price target on shares of Quanta Services from $246.00 to $286.00 and gave the company a "buy" rating in a report on Friday, May 3rd. TD Cowen raised their price objective on shares of 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 upped their target price on Quanta Services from $227.00 to $259.00 and gave the company a "buy" rating in a research note on Monday, February 26th. Finally, Citigroup boosted their price objective on Quanta Services from $275.00 to $285.00 and gave the company a "buy" rating in a report on Monday, April 22nd. Three equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the company's stock. According to data from MarketBeat, Quanta Services presently has an average rating of "Moderate Buy" and a consensus price target of $262.00.

Quanta Services Trading Down 2.2 %

The stock's 50 day moving average is $253.63 and its two-hundred day moving average is $218.56. The company has a market capitalization of $38.86 billion, a PE ratio of 51.44 and a beta of 1.10. The company has a quick ratio of 1.32, a current ratio of 1.36 and a debt-to-equity ratio of 0.50.

Quanta Services (NYSE:PWR - Get Free Report) last released its quarterly earnings results on Thursday, February 22nd. The construction company reported $2.04 EPS for the quarter, beating the consensus estimate of $1.83 by $0.21. The business had revenue of $5.78 billion during the quarter, compared to analyst estimates of $5.19 billion. Quanta Services had a net margin of 3.57% and a return on equity of 16.25%. The company's quarterly revenue was up 31.0% on a year-over-year basis. During the same period in the prior year, the firm posted $1.54 earnings per share. As a group, sell-side analysts predict that Quanta Services, Inc. will post 7.68 EPS for the current fiscal year.

Quanta Services Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, April 17th. Shareholders 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 0.14%. The ex-dividend date of this dividend was Monday, April 8th. Quanta Services's payout ratio is 6.98%.

Insider Activity at Quanta Services

In related news, Director Worthing Jackman sold 9,572 shares of the stock in a transaction that occurred 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 directly 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 accessible through the SEC website. In related 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 sale, the executive vice president now owns 263,725 shares of the company's stock, valued at approximately $62,476,452.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, 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 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 disclosure for this sale can be found here. Insiders sold 47,125 shares of company stock valued at $11,270,215 in the last three months. 1.10% of the stock is owned by insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Private Ocean LLC acquired a new stake in shares of Quanta Services during the 1st quarter worth about $26,000. Salomon & Ludwin LLC acquired a new stake in shares of Quanta Services during the 1st quarter worth about $26,000. Newbridge Financial Services Group Inc. acquired a new stake in shares of Quanta Services during the 4th quarter worth about $34,000. Hazlett Burt & Watson Inc. increased its position in shares of Quanta Services by 47.3% during the 4th quarter. Hazlett Burt & Watson Inc. now owns 162 shares of the construction company's stock worth $34,000 after purchasing an additional 52 shares during the last quarter. Finally, Valley National Advisers Inc. acquired a new stake in shares of Quanta Services during the 4th quarter worth about $41,000. Hedge funds and other institutional investors own 90.49% of the company's stock.

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.