Quanta Services (NYSE:PWR) Shares Gap Down to $256.01

Quanta Services, Inc. (NYSE:PWR - Get Free Report)'s stock price gapped down before the market opened on Thursday . The stock had previously closed at $256.01, but opened at $245.00. Quanta Services shares last traded at $251.98, with a volume of 212,543 shares trading hands.

Analyst Upgrades and Downgrades

A number of brokerages have commented on PWR. Citigroup increased their target price on Quanta Services from $275.00 to $285.00 and gave the company a "buy" rating in a report on Monday, April 22nd. Stifel Nicolaus increased their target price on Quanta Services from $237.00 to $252.00 and gave the company a "buy" rating in a report on Friday, February 23rd. KeyCorp began coverage on Quanta Services in a report on Wednesday, January 10th. They set a "sector weight" rating on the stock. Evercore ISI began coverage on Quanta Services in a report on Tuesday, February 13th. They set an "outperform" rating and a $237.00 target price on the stock. Finally, Truist Financial began coverage on Quanta Services in a report on Thursday, March 14th. They set a "buy" rating and a $301.00 price objective on the stock. Three research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company's stock. According to MarketBeat.com, Quanta Services presently has an average rating of "Moderate Buy" and a consensus price target of $247.67.

Quanta Services Stock Down 0.4 %

The stock has a market cap of $37.33 billion, a price-to-earnings ratio of 51.10 and a beta of 1.10. 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 fifty day moving average of $249.81 and a two-hundred day moving average of $213.59.

Quanta Services (NYSE:PWR - Get Free Report) last issued its earnings results on Thursday, February 22nd. The construction company reported $2.04 EPS for the quarter, beating analysts' consensus estimates of $1.83 by $0.21. Quanta Services had a return on equity of 16.46% and a net margin of 3.57%. The company had revenue of $5.78 billion during the quarter, compared to the consensus estimate of $5.19 billion. During the same period in the previous year, the firm posted $1.54 earnings per share. Quanta Services's quarterly revenue was up 31.0% compared to the same quarter last year. As a group, analysts predict that Quanta Services, Inc. will post 7.63 EPS for the current fiscal year.

Quanta Services Announces Dividend

The firm also recently disclosed 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. The ex-dividend date of this dividend was Monday, April 8th. This represents a $0.36 annualized dividend and a dividend yield of 0.14%. Quanta Services's dividend payout ratio is presently 7.19%.

Insider Transactions at Quanta Services

In other news, Director Worthing Jackman sold 9,572 shares of the business's stock in a transaction that occurred on Wednesday, February 28th. The stock was sold at an average price of $237.31, for a total transaction of $2,271,531.32. Following the completion of the transaction, the director now directly owns 7,486 shares in the company, valued at $1,776,502.66. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In related news, EVP Derrick A. Jensen sold 18,500 shares of the business's stock in a transaction that occurred 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 sale, the executive vice president now owns 263,725 shares of the company's stock, valued at $62,476,452.50. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Worthing Jackman sold 9,572 shares of the business's stock in a transaction that occurred on Wednesday, February 28th. The stock was sold at an average price of $237.31, for a total value of $2,271,531.32. Following 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. Over the last three months, insiders sold 47,125 shares of company stock worth $11,270,215. Company insiders own 1.10% of the company's stock.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the stock. Peregrine Asset Advisers Inc. increased its holdings in shares of Quanta Services by 18.4% in the first quarter. Peregrine Asset Advisers Inc. now owns 7,400 shares of the construction company's stock valued at $1,923,000 after buying an additional 1,150 shares in the last quarter. FinTrust Capital Advisors LLC raised its stake in Quanta Services by 14.9% during the 1st quarter. FinTrust Capital Advisors LLC now owns 610 shares of the construction company's stock valued at $158,000 after purchasing an additional 79 shares during the period. Graypoint LLC acquired a new stake in Quanta Services during the 1st quarter valued at $207,000. Stack Financial Management Inc grew its holdings in shares of Quanta Services by 0.3% during the 1st quarter. Stack Financial Management Inc now owns 191,544 shares of the construction company's stock valued at $49,763,000 after acquiring an additional 525 shares in the last quarter. Finally, Thompson Davis & CO. Inc. grew its holdings in shares of Quanta Services by 24.3% during the 1st quarter. Thompson Davis & CO. Inc. now owns 2,175 shares of the construction company's stock valued at $565,000 after acquiring an additional 425 shares in the last quarter. Institutional investors own 90.49% of the company's stock.

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.