Quanta Services (NYSE:PWR) Receives New Coverage from Analysts at JPMorgan Chase & Co.

JPMorgan Chase & Co. started coverage on shares of Quanta Services (NYSE:PWR) in a report issued on Monday, MarketBeat reports. The firm issued a neutral rating and a $297.00 price target on the construction company’s stock.

Several other research firms also recently commented on PWR. Northland Securities increased their target price on Quanta Services from $264.00 to $280.00 and gave the company an outperform rating in a research report on Friday, August 2nd. Truist Financial reiterated a buy rating and issued a $319.00 target price (up from $305.00) on shares of Quanta Services in a research report on Monday, August 5th. B. Riley increased their target price on Quanta Services from $286.00 to $303.00 and gave the company a buy rating in a research report on Friday, August 2nd. Citigroup raised their price objective on Quanta Services from $302.00 to $348.00 and gave the stock a buy rating in a research report on Friday, October 4th. Finally, TD Cowen raised their price objective on Quanta Services from $270.00 to $280.00 and gave the stock a buy rating in a research report on Thursday, August 8th. Four analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. According to data from MarketBeat, Quanta Services currently has a consensus rating of Moderate Buy and a consensus price target of $299.93.

Quanta Services Price Performance

Shares of NYSE PWR opened at $306.99 on Monday. The stock has a market capitalization of $45.23 billion, a PE ratio of 57.92 and a beta of 1.01. Quanta Services has a fifty-two week low of $153.74 and a fifty-two week high of $312.52. The company has a debt-to-equity ratio of 0.45, a current ratio of 1.30 and a quick ratio of 1.25. The business has a fifty day moving average price of $274.40 and a two-hundred day moving average price of $266.88.

Quanta Services (NYSE:PWR) last released 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. The company had revenue of $5.59 billion for the quarter, compared to analyst estimates of $5.51 billion. Quanta Services had a return on equity of 16.29% and a net margin of 3.59%. Quanta Services’s quarterly revenue was up 10.8% on a year-over-year basis. During the same period in the prior year, the firm posted $1.47 EPS. As a group, equities analysts predict that Quanta Services will post 7.81 earnings per share for the current fiscal year.

Quanta Services Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, October 11th. Investors of record on Tuesday, October 1st will be paid a dividend of $0.09 per share. The ex-dividend date of this dividend is Tuesday, October 1st. This represents a $0.36 annualized dividend and a yield of 0.12%. Quanta Services’s dividend payout ratio is currently 6.79%.

Insider Buying and Selling

In other Quanta Services news, insider Karl W. Studer sold 23,357 shares of the firm’s stock in a transaction that occurred on Wednesday, August 21st. The stock was sold at an average price of $270.51, for a total value of $6,318,302.07. Following the completion of the sale, the insider now owns 10,631 shares of the company’s stock, valued at approximately $2,875,791.81. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other Quanta Services news, insider Gerald A. Ducey, Jr. sold 15,000 shares of the firm’s stock in a transaction that occurred on Friday, August 9th. The stock was sold at an average price of $257.93, for a total value of $3,868,950.00. Following the completion of the sale, the insider now owns 21,286 shares of the company’s stock, valued at approximately $5,490,297.98. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Karl W. Studer sold 23,357 shares of the firm’s stock in a transaction that occurred on Wednesday, August 21st. The shares were sold at an average price of $270.51, for a total value of $6,318,302.07. Following the completion of the sale, the insider now directly owns 10,631 shares of the company’s stock, valued at $2,875,791.81. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 202,357 shares of company stock valued at $53,115,572 over the last 90 days. Company insiders own 1.10% of the company’s stock.

Institutional Investors Weigh In On Quanta Services

Hedge funds have recently added to or reduced their stakes in the company. Electron Capital Partners LLC boosted its position in shares of Quanta Services by 395.1% during the second quarter. Electron Capital Partners LLC now owns 2,622,142 shares of the construction company’s stock valued at $666,260,000 after buying an additional 2,092,519 shares during the last quarter. Swedbank AB purchased a new position in shares of Quanta Services during the first quarter valued at approximately $227,218,000. Capital World Investors boosted its position in shares of Quanta Services by 10.7% during the first quarter. Capital World Investors now owns 6,643,733 shares of the construction company’s stock valued at $1,726,042,000 after buying an additional 643,011 shares during the last quarter. American Century Companies Inc. boosted its position in shares of Quanta Services by 1,445.3% during the second quarter. American Century Companies Inc. now owns 395,152 shares of the construction company’s stock valued at $100,404,000 after buying an additional 369,581 shares during the last quarter. Finally, Sei Investments Co. boosted its position in shares of Quanta Services by 393.9% during the fourth quarter. Sei Investments Co. now owns 324,223 shares of the construction company’s stock valued at $69,966,000 after buying an additional 258,580 shares during the last quarter. Institutional investors and hedge funds own 90.49% of the company’s stock.

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.