Quanta Services, Inc. (NYSE:PWR) Given Average Recommendation of “Moderate Buy” by Brokerages

Quanta Services, Inc. (NYSE:PWR) has been given an average rating of “Moderate Buy” by the thirteen brokerages that are covering the stock, MarketBeat.com reports. Three equities research analysts have rated the stock with a hold rating and ten have issued a buy rating on the company. The average twelve-month price objective among brokers that have issued ratings on the stock in the last year is $284.50.

Several brokerages recently commented on PWR. Citigroup raised their price objective on Quanta Services from $299.00 to $302.00 and gave the stock a “buy” rating in a research note on Monday, July 22nd. Robert W. Baird raised their price objective on Quanta Services from $287.00 to $288.00 and gave the stock an “outperform” rating in a research note on Friday, July 19th. Northland Securities increased their target price on Quanta Services from $264.00 to $280.00 and gave the stock an “outperform” rating in a report on Friday, August 2nd. Argus increased their target price on Quanta Services from $285.00 to $310.00 and gave the stock a “buy” rating in a report on Thursday, May 30th. Finally, The Goldman Sachs Group increased their target price on Quanta Services from $259.00 to $286.00 and gave the stock a “buy” rating in a report on Tuesday, May 28th.

Insiders Place Their Bets

In other Quanta Services news, insider Karl W. Studer sold 23,357 shares of the company’s stock in a transaction on 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 completion of the sale, the insider now directly owns 10,631 shares in the company, valued at $2,875,791.81. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Quanta Services news, insider Karl W. Studer sold 23,357 shares of the company’s stock in a transaction on 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 completion of the sale, the insider now directly owns 10,631 shares in the company, valued at $2,875,791.81. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Earl C. Jr. Austin sold 130,000 shares of the company’s stock in a transaction on 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. The disclosure for this sale can be found here. Insiders sold 202,357 shares of company stock worth $53,115,572 over the last three months. Insiders own 1.10% of the company’s stock.

Institutional Trading of Quanta Services

A number of institutional investors and hedge funds have recently bought and sold shares of PWR. EntryPoint Capital LLC acquired a new stake in Quanta Services during the 1st quarter worth about $25,000. Private Ocean LLC acquired a new stake in Quanta Services during the 1st quarter worth about $26,000. Salomon & Ludwin LLC acquired a new stake in Quanta Services during the 1st quarter worth about $26,000. Cambridge Trust Co. acquired a new stake in Quanta Services during the 1st quarter worth about $26,000. Finally, Valley Wealth Managers Inc. acquired a new stake in Quanta Services during the 2nd quarter worth about $33,000. 90.49% of the stock is currently owned by institutional investors and hedge funds.

Quanta Services Stock Performance

PWR stock opened at $273.92 on Wednesday. The company has a market cap of $40.36 billion, a P/E ratio of 53.09 and a beta of 1.01. Quanta Services has a twelve month low of $153.74 and a twelve month high of $286.87. 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 business’s fifty day moving average is $260.55 and its 200-day moving average is $260.58.

Quanta Services (NYSE:PWR) last issued its quarterly earnings data on Thursday, August 1st. The construction company reported $1.90 EPS for the quarter, topping the consensus estimate of $1.75 by $0.15. The business had revenue of $5.59 billion for the quarter, compared to the consensus estimate of $5.51 billion. Quanta Services had a return on equity of 16.29% and a net margin of 3.59%. The firm’s revenue was up 10.8% compared to the same quarter last year. During the same quarter last year, the business posted $1.47 EPS. Equities research analysts forecast that Quanta Services will post 7.82 EPS for the current year.

Quanta Services Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, October 11th. Shareholders of record on Tuesday, October 1st will be paid a dividend of $0.09 per share. This represents a $0.36 annualized dividend and a yield of 0.13%. The ex-dividend date is Tuesday, October 1st. Quanta Services’s payout ratio is presently 6.98%.

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.