Quanta Services (NYSE:PWR) Sets New 52-Week High at $117.71

Quanta Services, Inc. (NYSE:PWR)’s stock price reached a new 52-week high during mid-day trading on Wednesday . The stock traded as high as $117.71 and last traded at $117.67, with a volume of 10227 shares traded. The stock had previously closed at $116.00.

Several research analysts recently weighed in on PWR shares. Credit Suisse Group raised their target price on Quanta Services from $118.00 to $137.00 and gave the company an “outperform” rating in a research note on Wednesday, September 8th. Northland Securities increased their price objective on Quanta Services from $103.00 to $129.00 and gave the stock an “outperform” rating in a research note on Friday, September 3rd. KeyCorp increased their price objective on Quanta Services from $115.00 to $129.00 and gave the stock an “overweight” rating in a research note on Friday, September 3rd. Zacks Investment Research raised Quanta Services from a “hold” rating to a “buy” rating and set a $108.00 price target for the company in a research note on Monday, August 30th. Finally, Cowen raised their price target on Quanta Services from $110.00 to $130.00 and gave the stock an “outperform” rating in a research note on Friday, September 10th. Two research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. Based on data from MarketBeat, Quanta Services currently has an average rating of “Buy” and a consensus target price of $105.92.

The firm has a fifty day moving average of $97.29 and a 200-day moving average of $93.54. The firm has a market cap of $16.46 billion, a P/E ratio of 31.10 and a beta of 1.25. The company has a quick ratio of 1.72, a current ratio of 1.75 and a debt-to-equity ratio of 0.30.

Quanta Services (NYSE:PWR) last issued its quarterly earnings results on Thursday, August 5th. The construction company reported $1.06 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.89 by $0.17. The business had revenue of $3 billion for the quarter, compared to the consensus estimate of $2.94 billion. Quanta Services had a return on equity of 13.29% and a net margin of 4.64%. On average, equities analysts forecast that Quanta Services, Inc. will post 4.13 EPS for the current year.

The business also recently declared a quarterly dividend, which will be paid on Friday, October 15th. Investors of record on Friday, October 1st will be given a dividend of $0.06 per share. This represents a $0.24 dividend on an annualized basis and a yield of 0.20%. The ex-dividend date of this dividend is Thursday, September 30th. Quanta Services’s dividend payout ratio is currently 7.23%.

In related news, Director John Michal Conaway sold 3,500 shares of the stock in a transaction that occurred on Thursday, June 17th. The stock was sold at an average price of $89.57, for a total transaction of $313,495.00. Following the sale, the director now owns 7,226 shares of the company’s stock, valued at $647,232.82. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 1.10% of the company’s stock.

Several institutional investors and hedge funds have recently made changes to their positions in PWR. Trustcore Financial Services LLC bought a new position in shares of Quanta Services in the 2nd quarter valued at $25,000. First Horizon Advisors Inc. raised its position in Quanta Services by 126.6% during the 2nd quarter. First Horizon Advisors Inc. now owns 358 shares of the construction company’s stock worth $31,000 after purchasing an additional 200 shares during the last quarter. Cypress Point Wealth Management LLC bought a new position in Quanta Services during the 2nd quarter worth $38,000. Berman Capital Advisors LLC raised its position in Quanta Services by 229.4% during the 1st quarter. Berman Capital Advisors LLC now owns 448 shares of the construction company’s stock worth $39,000 after purchasing an additional 312 shares during the last quarter. Finally, Selective Wealth Management Inc. bought a new position in Quanta Services during the 2nd quarter worth $45,000. Institutional investors own 88.07% of the company’s stock.

Quanta Services Company Profile (NYSE:PWR)

Quanta Services, Inc engages in the provision of specialty contracting services, offering infrastructure solutions to the electric power, oil and gas, and communication industries. The firm operates through the Electric Power Infrastructure Services, and Underground Utility and Infrastructure Solutions segment.

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