Quanta Services (NYSE:PWR) Hits New 1-Year High - Time to Buy?

Key Points

• Quanta Services, Inc. reached a new 52-week high of $447.17 during trading, closing at $443.38, showing significant price momentum.
• Despite some downgrades in ratings from analysts, Quanta Services has an average "Moderate Buy" rating with a consensus price target of $411.59.
• The company recently declared a quarterly dividend of $0.10 per share, reflecting a yield of 0.1% and a low payout ratio of 6.19%.

Quanta Services, Inc. (NYSE:PWR - Get Free Report)'s share price reached a new 52-week high during trading on Friday . The company traded as high as $447.17 and last traded at $443.38, with a volume of 149208 shares changing hands. The stock had previously closed at $427.36.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on the company. Northland Capmk downgraded Quanta Services from a "strong-buy" rating to a "hold" rating in a report on Wednesday, July 2nd. Daiwa America downgraded Quanta Services from a "strong-buy" rating to a "hold" rating in a research note on Friday, August 1st. Sanford C. Bernstein downgraded Quanta Services from an "outperform" rating to a "market perform" rating and set a $410.00 price target for the company. in a research note on Monday, July 28th. JPMorgan Chase & Co. lifted their price target on Quanta Services from $395.00 to $436.00 and gave the stock a "neutral" rating in a research note on Thursday, October 16th. Finally, UBS Group lifted their price target on Quanta Services from $413.00 to $474.00 and gave the stock a "buy" rating in a research note on Friday, July 25th. Fourteen analysts have rated the stock with a Buy rating and twelve have given a Hold rating to the company. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $411.59.

Quanta Services Stock Performance

The stock has a market cap of $66.38 billion, a PE ratio of 68.96, a PEG ratio of 2.44 and a beta of 1.04. The stock has a fifty day simple moving average of $400.13 and a two-hundred day simple moving average of $365.99. The company has a debt-to-equity ratio of 0.59, a quick ratio of 1.32 and a current ratio of 1.37.

Quanta Services (NYSE:PWR - Get Free Report) last announced its earnings results on Thursday, July 31st. The construction company reported $2.48 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.44 by $0.04. Quanta Services had a return on equity of 18.41% and a net margin of 3.73%.The company had revenue of $6.77 billion for the quarter, compared to analyst estimates of $6.55 billion. During the same period in the prior year, the company posted $1.90 EPS. Quanta Services's quarterly revenue was up 21.1% on a year-over-year basis. Quanta Services has set its FY 2025 guidance at 10.280-10.880 EPS. Equities analysts anticipate that Quanta Services, Inc. will post 9.34 EPS for the current fiscal year.

Quanta Services Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, October 10th. Investors of record on Wednesday, October 1st were paid a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a yield of 0.1%. The ex-dividend date was Wednesday, October 1st. Quanta Services's dividend payout ratio is presently 6.19%.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the business. SCP Investment LP bought a new position in shares of Quanta Services in the first quarter worth $966,000. Brighton Jones LLC bought a new position in Quanta Services during the fourth quarter valued at about $298,000. Swedbank AB boosted its stake in Quanta Services by 50.5% during the first quarter. Swedbank AB now owns 1,197,062 shares of the construction company's stock valued at $304,269,000 after buying an additional 401,418 shares in the last quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management bought a new position in Quanta Services during the second quarter valued at about $271,000. Finally, Voya Investment Management LLC boosted its stake in Quanta Services by 8.6% during the first quarter. Voya Investment Management LLC now owns 598,067 shares of the construction company's stock valued at $152,017,000 after buying an additional 47,469 shares in the last quarter. 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.

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