Quanta Services (NYSE:PWR) Stock Price Down 5.1% - Should You Sell?

Key Points

• Quanta Services stock price dropped by 5.1%, trading at $371.69 during mid-day trading, significantly lower than its previous close of $391.57.
• Analysts have mixed ratings on the stock, with 14 buy ratings and 12 hold ratings, while the average target price is set at $392.45.
• The company recently announced a quarterly dividend of $0.10, marking an annualized yield of 0.1%, reflecting a low payout ratio of 6.19%.

Quanta Services, Inc. (NYSE:PWR - Get Free Report)'s share price was down 5.1% during mid-day trading on Wednesday . The company traded as low as $371.30 and last traded at $371.69. Approximately 718,205 shares changed hands during trading, a decline of 49% from the average daily volume of 1,420,910 shares. The stock had previously closed at $391.57.

Analyst Ratings Changes

A number of brokerages have commented on PWR. Northland Capmk lowered shares of Quanta Services from a "strong-buy" rating to a "hold" rating in a research note on Wednesday, July 2nd. Roth Capital restated a "buy" rating and set a $450.00 price target (up previously from $350.00) on shares of Quanta Services in a research note on Tuesday, July 29th. Evercore ISI boosted their price target on shares of Quanta Services from $360.00 to $410.00 and gave the company an "outperform" rating in a research note on Friday, August 8th. Piper Sandler restated an "overweight" rating and set a $370.00 price target (up previously from $360.00) on shares of Quanta Services in a research note on Tuesday, May 27th. Finally, JPMorgan Chase & Co. boosted their price target on shares of Quanta Services from $345.00 to $392.00 and gave the company a "neutral" rating in a research note on Tuesday, July 22nd. Twelve equities research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $392.45.

Quanta Services Stock Down 2.9%

The stock has a market cap of $56.66 billion, a PE ratio of 58.86, a price-to-earnings-growth ratio of 2.28 and a beta of 1.10. The company has a debt-to-equity ratio of 0.59, a quick ratio of 1.32 and a current ratio of 1.37. The company's 50-day moving average price is $381.71 and its 200 day moving average price is $320.88.

Quanta Services (NYSE:PWR - Get Free Report) last released its quarterly earnings results on Thursday, July 31st. The construction company reported $2.48 EPS for the quarter, beating the consensus estimate of $2.44 by $0.04. The firm 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 business's revenue for the quarter was up 21.1% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.90 EPS. As a group, analysts forecast that Quanta Services, Inc. will post 9.34 EPS for the current fiscal year.

Quanta Services Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, July 11th. Shareholders of record on Tuesday, July 1st were paid a $0.10 dividend. This represents a $0.40 annualized dividend and a yield of 0.1%. The ex-dividend date was Tuesday, July 1st. Quanta Services's dividend payout ratio is presently 6.19%.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Copia Wealth Management boosted its position in shares of Quanta Services by 509.1% during the 2nd quarter. Copia Wealth Management now owns 67 shares of the construction company's stock valued at $25,000 after acquiring an additional 56 shares during the last quarter. SOA Wealth Advisors LLC. raised its holdings in Quanta Services by 159.3% during the 2nd quarter. SOA Wealth Advisors LLC. now owns 70 shares of the construction company's stock valued at $26,000 after buying an additional 43 shares during the period. Banque Transatlantique SA purchased a new stake in Quanta Services during the 4th quarter valued at $25,000. Solstein Capital LLC raised its holdings in Quanta Services by 185.7% during 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 period. Finally, Quarry LP purchased a new stake in Quanta Services during the 4th quarter valued at $26,000. 90.49% of the stock is currently owned by 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.

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