Quanta Services (NYSE:PWR) Hits New 1-Year High at $273.00

Quanta Services, Inc. (NYSE:PWRGet Free Report) shares hit a new 52-week high during mid-day trading on Monday . The company traded as high as $273.00 and last traded at $268.93, with a volume of 65307 shares. The stock had previously closed at $271.48.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on PWR shares. Citigroup raised their target price on shares of Quanta Services from $275.00 to $285.00 and gave the stock a “buy” rating in a research report on Monday, April 22nd. TD Cowen lifted their price objective on shares of Quanta Services from $205.00 to $270.00 and gave the company an “outperform” rating in a research report on Tuesday, February 27th. Truist Financial reiterated a “buy” rating and issued a $305.00 price objective (up from $301.00) on shares of Quanta Services in a research report on Monday, May 6th. DA Davidson lifted their price objective on shares of Quanta Services from $225.00 to $250.00 and gave the company a “neutral” rating in a research report on Tuesday, May 7th. Finally, Stifel Nicolaus lifted their price objective on shares of Quanta Services from $237.00 to $252.00 and gave the company a “buy” rating in a research report on Friday, February 23rd. Three equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $262.00.

Check Out Our Latest Report on PWR

Quanta Services Stock Performance

The company has a current ratio of 1.36, a quick ratio of 1.32 and a debt-to-equity ratio of 0.50. The firm has a market capitalization of $38.91 billion, a price-to-earnings ratio of 52.61 and a beta of 1.10. The stock’s 50 day moving average price is $253.63 and its two-hundred day moving average price is $218.56.

Quanta Services (NYSE:PWRGet Free Report) last posted its quarterly earnings results on Thursday, February 22nd. The construction company reported $2.04 earnings per share for the quarter, topping analysts’ consensus estimates of $1.83 by $0.21. Quanta Services had a net margin of 3.57% and a return on equity of 16.25%. The business had revenue of $5.78 billion for the quarter, compared to analysts’ expectations of $5.19 billion. During the same period in the prior year, the company posted $1.54 EPS. The business’s revenue for the quarter was up 31.0% on a year-over-year basis. On average, analysts forecast that Quanta Services, Inc. will post 7.68 EPS for the current year.

Quanta Services Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, April 17th. Investors of record on Tuesday, April 9th were given a $0.09 dividend. The ex-dividend date of this dividend was Monday, April 8th. This represents a $0.36 annualized dividend and a dividend yield of 0.14%. Quanta Services’s dividend payout ratio is presently 6.98%.

Insider Buying and Selling

In related news, EVP Derrick A. Jensen sold 18,500 shares of the business’s stock in a transaction dated Tuesday, February 27th. The shares were sold at an average price of $236.90, for a total value of $4,382,650.00. Following the sale, the executive vice president now directly owns 263,725 shares in the company, valued at approximately $62,476,452.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In related news, EVP Derrick A. Jensen sold 18,500 shares of the business’s stock in a transaction dated Tuesday, February 27th. The shares were sold at an average price of $236.90, for a total value of $4,382,650.00. Following the sale, the executive vice president now directly owns 263,725 shares in the company, valued at approximately $62,476,452.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, Director Worthing Jackman sold 9,572 shares of the company’s stock in a transaction dated Wednesday, February 28th. The shares were sold at an average price of $237.31, for a total transaction of $2,271,531.32. Following the completion of the transaction, the director now owns 7,486 shares in the company, valued at $1,776,502.66. The disclosure for this sale can be found here. Insiders have sold 47,125 shares of company stock worth $11,270,215 in the last three months. Corporate insiders own 1.10% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of PWR. Mackenzie Financial Corp lifted its position in Quanta Services by 3.9% during the third quarter. Mackenzie Financial Corp now owns 11,500 shares of the construction company’s stock worth $2,151,000 after buying an additional 434 shares during the period. Strs Ohio boosted its position in shares of Quanta Services by 4.6% in the third quarter. Strs Ohio now owns 9,266 shares of the construction company’s stock worth $1,733,000 after acquiring an additional 409 shares during the last quarter. Assetmark Inc. grew its holdings in Quanta Services by 17.7% in the third quarter. Assetmark Inc. now owns 7,098 shares of the construction company’s stock valued at $1,328,000 after purchasing an additional 1,066 shares during the period. Sumitomo Mitsui DS Asset Management Company Ltd raised its stake in Quanta Services by 0.5% during the third quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 12,511 shares of the construction company’s stock worth $2,340,000 after purchasing an additional 67 shares during the period. Finally, First Trust Direct Indexing L.P. boosted its holdings in shares of Quanta Services by 14.3% in the 3rd quarter. First Trust Direct Indexing L.P. now owns 2,024 shares of the construction company’s stock valued at $379,000 after purchasing an additional 253 shares during the last quarter. 90.49% of the stock is currently owned by institutional investors and hedge funds.

About Quanta Services

(Get Free Report)

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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