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

Quanta Services, Inc. (NYSE:PWR) shares reached a new 52-week high during mid-day trading on Monday . The stock traded as high as $317.41 and last traded at $316.97, with a volume of 33648 shares. The stock had previously closed at $314.27.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on the company. Wolfe Research began coverage on Quanta Services in a research report on Thursday, September 19th. They issued an “outperform” rating and a $313.00 target price for the company. Stifel Nicolaus lifted their price objective on shares of Quanta Services from $283.00 to $342.00 and gave the company a “buy” rating in a report on Thursday, October 10th. B. Riley increased their target price 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. Citigroup boosted their price target on shares of Quanta Services from $302.00 to $348.00 and gave the stock a “buy” rating in a research note on Friday, October 4th. Finally, JPMorgan Chase & Co. started coverage on Quanta Services in a research note on Monday, October 7th. They issued a “neutral” rating and a $297.00 price objective on the stock. Four research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $303.86.

Quanta Services Price Performance

The stock has a market capitalization of $46.10 billion, a price-to-earnings ratio of 59.03 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. The stock has a fifty day moving average of $283.89 and a 200-day moving average of $269.95.

Quanta Services (NYSE:PWR) last posted its earnings results on Thursday, August 1st. The construction company reported $1.90 EPS for the quarter, beating analysts’ consensus estimates of $1.75 by $0.15. Quanta Services had a net margin of 3.59% and a return on equity of 16.29%. The firm had revenue of $5.59 billion for the quarter, compared to the consensus estimate of $5.51 billion. During the same period last year, the firm posted $1.47 EPS. The company’s revenue was up 10.8% on a year-over-year basis. On average, equities research analysts predict that Quanta Services, Inc. will post 7.82 EPS for the current fiscal year.

Quanta Services Dividend Announcement

The company 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. This represents a $0.36 annualized dividend and a yield of 0.12%. The ex-dividend date was Tuesday, October 1st. Quanta Services’s dividend payout ratio (DPR) is 6.79%.

Insider Activity

In other news, CEO Earl C. Jr. Austin sold 130,000 shares of Quanta Services stock in a transaction on Wednesday, August 14th. The shares were sold at an average price of $262.21, for a total value of $34,087,300.00. Following the transaction, the chief executive officer now directly owns 593,402 shares of the company’s stock, valued at $155,595,938.42. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. In related news, CEO Earl C. Jr. Austin sold 130,000 shares of the firm’s stock in a transaction dated Wednesday, August 14th. The stock was sold at an average price of $262.21, for a total transaction of $34,087,300.00. Following the transaction, the chief executive officer now owns 593,402 shares of the company’s stock, valued at $155,595,938.42. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, insider Gerald A. Ducey, Jr. sold 15,000 shares of the 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 sale, the insider now directly owns 21,286 shares of the company’s stock, valued at $5,490,297.98. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 202,357 shares of company stock valued at $53,115,572. 1.10% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Quanta Services

A number of large investors have recently bought and sold shares of the company. Wellington Management Group LLP raised its holdings in Quanta Services by 581.3% during the fourth quarter. Wellington Management Group LLP now owns 117,014 shares of the construction company’s stock worth $25,252,000 after purchasing an additional 99,840 shares in the last quarter. AdvisorNet Financial Inc raised its stake in shares of Quanta Services by 13.5% during the 1st quarter. AdvisorNet Financial Inc now owns 2,269 shares of the construction company’s stock worth $589,000 after buying an additional 269 shares in the last quarter. Sunbelt Securities Inc. lifted its holdings in shares of Quanta Services by 523.0% in the 1st quarter. Sunbelt Securities Inc. now owns 1,626 shares of the construction company’s stock valued at $422,000 after buying an additional 1,365 shares during the period. Brookstone Capital Management boosted its stake in shares of Quanta Services by 13.4% in the first quarter. Brookstone Capital Management now owns 12,672 shares of the construction company’s stock valued at $3,292,000 after buying an additional 1,501 shares in the last quarter. Finally, Clarity Financial LLC acquired a new position in Quanta Services during the first quarter worth $356,000. Hedge funds and other institutional investors own 90.49% of the company’s stock.

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.