Quanta Services (NYSE:PWR) Sets New 52-Week High - What's Next?

Key Points

• Quanta Services (NYSE:PWR) reached a new 52-week high of $431.24 during trading, currently sitting at $424.39.
• Recent analyst ratings show a mix of downgrades and a consensus rating of "Moderate Buy", with a target price of $404.27.
• The company reported $2.48 EPS for the last quarter, exceeding estimates and reflecting a 21.1% year-over-year revenue increase.

Quanta Services, Inc. (NYSE:PWR - Get Free Report) shares hit a new 52-week high during mid-day trading on Thursday . The stock traded as high as $431.24 and last traded at $424.39, with a volume of 174249 shares trading hands. The stock had previously closed at $420.65.

Analyst Ratings Changes

Several research analysts recently issued reports on the stock. Daiwa America downgraded shares of Quanta Services from a "strong-buy" rating to a "hold" rating in a research report on Friday, August 1st. BMO Capital Markets lowered shares of Quanta Services from an "outperform" rating to a "market perform" rating and raised their price target for the company from $352.00 to $400.00 in a report on Thursday, July 17th. Sanford C. Bernstein cut shares of Quanta Services from an "outperform" rating to a "market perform" rating and set a $410.00 price objective for the company. in a research report on Monday, July 28th. Wall Street Zen lowered Quanta Services from a "buy" rating to a "hold" rating in a research report on Saturday, August 30th. Finally, TD Cowen boosted their target price on Quanta Services from $355.00 to $425.00 and gave the stock a "buy" rating in a research report on Tuesday, August 5th. Thirteen research analysts have rated the stock with a Buy rating and twelve have issued a Hold rating to the company's stock. According to data from MarketBeat.com, Quanta Services currently has a consensus rating of "Moderate Buy" and a consensus target price of $404.27.

Quanta Services Trading Down 0.5%

The company's fifty day simple moving average is $389.41 and its two-hundred day simple moving average is $347.39. The company has a market capitalization of $62.38 billion, a price-to-earnings ratio of 64.80, a price-to-earnings-growth ratio of 2.46 and a beta of 1.04. The company has a quick ratio of 1.32, a current ratio of 1.37 and a debt-to-equity ratio of 0.59.

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

Quanta Services Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, October 10th. Stockholders of record on Wednesday, October 1st will be issued a $0.10 dividend. This represents a $0.40 annualized dividend and a dividend yield of 0.1%. The ex-dividend date is Wednesday, October 1st. Quanta Services's dividend payout ratio is 6.19%.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of PWR. Cullen Frost Bankers Inc. acquired a new position in shares of Quanta Services during the 1st quarter worth about $25,000. Copia Wealth Management grew its stake in Quanta Services by 509.1% in the second quarter. Copia Wealth Management now owns 67 shares of the construction company's stock valued at $25,000 after purchasing an additional 56 shares in the last quarter. SOA Wealth Advisors LLC. increased its position in shares of Quanta Services by 159.3% during the 2nd quarter. SOA Wealth Advisors LLC. now owns 70 shares of the construction company's stock worth $26,000 after purchasing an additional 43 shares during the last quarter. Darwin Wealth Management LLC bought a new stake in shares of Quanta Services during the 2nd quarter worth approximately $26,000. Finally, Solstein Capital LLC boosted its holdings in shares of Quanta Services by 185.7% in the 2nd quarter. Solstein Capital LLC now owns 80 shares of the construction company's stock valued at $30,000 after buying an additional 52 shares during the last quarter. 90.49% of the stock is currently owned by institutional investors.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.