Quanta Services (NYSE:PWR) Sets New 12-Month High – Should You Buy?

Shares of Quanta Services, Inc. (NYSE:PWR) hit a new 52-week high during mid-day trading on Monday . The company traded as high as $313.55 and last traded at $311.99, with a volume of 42722 shares changing hands. The stock had previously closed at $309.42.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on PWR shares. Jefferies Financial Group started coverage on shares of Quanta Services in a report on Wednesday, September 4th. They issued a “hold” rating and a $256.00 price target on the stock. TD Cowen upped their price target on shares of Quanta Services from $280.00 to $335.00 and gave the stock a “buy” rating in a report on Tuesday. B. Riley upped their price target on shares of Quanta Services from $286.00 to $303.00 and gave the stock a “buy” rating in a report on Friday, August 2nd. Robert W. Baird upped their price target on shares of Quanta Services from $287.00 to $288.00 and gave the stock an “outperform” rating in a report on Friday, July 19th. Finally, Citigroup upped their price target on shares of Quanta Services from $302.00 to $348.00 and gave the stock a “buy” rating in a report on Friday, October 4th. Four analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Quanta Services presently has an average rating of “Moderate Buy” and an average price target of $303.86.

Quanta Services Price Performance

The firm’s 50-day moving average is $277.20 and its 200-day moving average is $267.72. The company has a market capitalization of $44.72 billion, a PE ratio of 59.20 and a beta of 1.01. The company has a quick ratio of 1.25, a current ratio of 1.30 and a debt-to-equity ratio of 0.45.

Quanta Services (NYSE:PWR) last announced its earnings results on Thursday, August 1st. The construction company reported $1.90 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.75 by $0.15. Quanta Services had a net margin of 3.59% and a return on equity of 16.29%. The company had revenue of $5.59 billion during the quarter, compared to analyst estimates of $5.51 billion. During the same period in the previous year, the business earned $1.47 earnings per share. The firm’s quarterly revenue was up 10.8% compared to the same quarter last year. Equities analysts predict that Quanta Services, Inc. will post 7.81 earnings per share for the current fiscal year.

Quanta Services Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, October 11th. Shareholders of record on Tuesday, October 1st were given a dividend of $0.09 per share. The ex-dividend date of this dividend was Tuesday, October 1st. This represents a $0.36 annualized dividend and a yield of 0.12%. Quanta Services’s payout ratio is 6.98%.

Insider Buying and Selling at Quanta Services

In other Quanta Services news, insider Karl W. Studer sold 23,357 shares of the company’s stock in a transaction dated Wednesday, August 21st. The shares were sold at an average price of $270.51, for a total transaction of $6,318,302.07. Following the completion of the sale, the insider now directly owns 10,631 shares in the company, valued at $2,875,791.81. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. In other news, insider Gerald A. Ducey, Jr. sold 15,000 shares of the stock in a transaction dated Friday, August 9th. The shares were sold at an average price of $257.93, for a total transaction of $3,868,950.00. Following the completion of the sale, the insider now directly owns 21,286 shares in the company, valued at approximately $5,490,297.98. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Karl W. Studer sold 23,357 shares of the stock in a transaction dated Wednesday, August 21st. The stock was sold at an average price of $270.51, for a total transaction of $6,318,302.07. Following the sale, the insider now owns 10,631 shares of the company’s stock, valued at approximately $2,875,791.81. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 202,357 shares of company stock worth $53,115,572 over the last three months. Company insiders own 1.10% of the company’s stock.

Institutional Trading of Quanta Services

Institutional investors have recently modified their holdings of the company. EntryPoint Capital LLC purchased a new stake in shares of Quanta Services during the first quarter worth about $25,000. Private Ocean LLC bought a new position in Quanta Services in the first quarter worth about $26,000. Salomon & Ludwin LLC bought a new position in Quanta Services in the first quarter worth about $26,000. Cambridge Trust Co. bought a new position in Quanta Services in the first quarter worth about $26,000. Finally, Valley Wealth Managers Inc. bought a new position in Quanta Services in the second quarter worth about $33,000. 90.49% of the stock is currently owned by hedge funds and other 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.