Quanta Services (NYSE:PWR) Hits New 12-Month High - Still a Buy?

Quanta Services, Inc. (NYSE:PWR - Get Free Report) shares reached a new 52-week high during trading on Monday . The company traded as high as $388.01 and last traded at $386.21, with a volume of 135868 shares trading hands. The stock had previously closed at $383.78.

Analyst Ratings Changes

A number of research analysts have issued reports on the company. Stifel Nicolaus set a $411.00 price objective on Quanta Services and gave the company a "buy" rating in a research note on Friday, July 11th. Evercore ISI lifted their target price on Quanta Services from $331.00 to $360.00 and gave the stock an "outperform" rating in a report on Friday, May 2nd. BMO Capital Markets lowered Quanta Services from an "outperform" rating to a "market perform" rating and lifted their price objective for the stock from $352.00 to $400.00 in a report on Thursday. Northland Capmk lowered Quanta Services from a "strong-buy" rating to a "hold" rating in a report on Wednesday, July 2nd. Finally, Northland Securities lowered Quanta Services from an "outperform" rating to a "market perform" rating and set a $354.00 price objective for the company. in a report on Wednesday, July 2nd. Ten equities research analysts have rated the stock with a hold rating, thirteen have issued a buy rating and two have issued a strong buy rating to the company's stock. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $355.75.

Quanta Services Stock Up 2.4%

The company has a debt-to-equity ratio of 0.58, a current ratio of 1.31 and a quick ratio of 1.26. The company has a market capitalization of $59.05 billion, a PE ratio of 64.24, a P/E/G ratio of 3.01 and a beta of 1.08. The business has a 50-day moving average of $359.19 and a 200 day moving average of $311.74.

Quanta Services (NYSE:PWR - Get Free Report) last posted its earnings results on Thursday, May 1st. The construction company reported $1.78 EPS for the quarter, topping analysts' consensus estimates of $1.72 by $0.06. The company had revenue of $6.23 billion for the quarter, compared to the consensus estimate of $5.88 billion. Quanta Services had a return on equity of 18.06% and a net margin of 3.74%. The firm's revenue for the quarter was up 23.9% on a year-over-year basis. During the same period in the previous year, the business earned $1.41 earnings per share. Equities research analysts predict that Quanta Services, Inc. will post 9.34 earnings per share for the current year.

Quanta Services Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, July 11th. Shareholders of record on Tuesday, July 1st were paid a dividend of $0.10 per share. The ex-dividend date of this dividend was Tuesday, July 1st. This represents a $0.40 annualized dividend and a yield of 0.10%. Quanta Services's payout ratio is currently 6.45%.

Institutional Investors Weigh In On Quanta Services

Hedge funds and other institutional investors have recently modified their holdings of the business. Allstate Corp bought a new position in Quanta Services in the fourth quarter worth approximately $1,357,000. Brighton Jones LLC purchased a new stake in shares of Quanta Services during the 4th quarter valued at $298,000. Farther Finance Advisors LLC lifted its holdings in shares of Quanta Services by 60.0% during the 1st quarter. Farther Finance Advisors LLC now owns 1,568 shares of the construction company's stock valued at $404,000 after purchasing an additional 588 shares during the last quarter. Wealth Enhancement Advisory Services LLC lifted its holdings in shares of Quanta Services by 3.7% during the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 68,770 shares of the construction company's stock valued at $17,480,000 after purchasing an additional 2,479 shares during the last quarter. Finally, Objectivity Squared LLC acquired a new position in shares of Quanta Services in the 1st quarter valued at $213,000. 90.49% of the stock is currently owned by hedge funds and other institutional investors.

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.