Quanta Services (NYSE:PWR) Hits New 12-Month High – Still a Buy?

Quanta Services, Inc. (NYSE:PWR)’s stock price reached a new 52-week high during trading on Thursday . The stock traded as high as $318.34 and last traded at $317.87, with a volume of 65404 shares traded. The stock had previously closed at $310.82.

Wall Street Analyst Weigh In

A number of research firms have weighed in on PWR. UBS Group boosted their target price on shares of Quanta Services from $313.00 to $367.00 and gave the stock a “buy” rating in a report on Wednesday, October 23rd. Robert W. Baird increased their price objective on Quanta Services from $320.00 to $333.00 and gave the company an “outperform” rating in a report on Friday, November 1st. TD Cowen lifted their target price on Quanta Services from $280.00 to $335.00 and gave the stock a “buy” rating in a report on Tuesday, October 15th. JPMorgan Chase & Co. assumed coverage on Quanta Services in a research note on Monday, October 7th. They issued a “neutral” rating and a $297.00 price target for the company. Finally, Citigroup lifted their price objective on Quanta Services from $302.00 to $348.00 and gave the stock a “buy” rating in a research note on Friday, October 4th. Four research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. According to data from MarketBeat, Quanta Services has a consensus rating of “Moderate Buy” and an average price target of $314.27.

Quanta Services Trading Up 2.5 %

The firm’s 50 day simple moving average is $292.81 and its two-hundred day simple moving average is $274.22. The stock has a market capitalization of $47.03 billion, a P/E ratio of 57.35 and a beta of 1.01. The company has a quick ratio of 1.19, a current ratio of 1.23 and a debt-to-equity ratio of 0.58.

Quanta Services (NYSE:PWR) last posted its quarterly earnings results on Thursday, October 31st. The construction company reported $2.72 earnings per share for the quarter, topping analysts’ consensus estimates of $2.46 by $0.26. Quanta Services had a return on equity of 16.71% and a net margin of 3.54%. The business had revenue of $6.49 billion for the quarter, compared to the consensus estimate of $6.56 billion. During the same period in the prior year, the business earned $2.08 EPS. The firm’s revenue for the quarter was up 15.5% on a year-over-year basis. As a group, analysts forecast that Quanta Services, Inc. will post 7.83 earnings per share for the current fiscal year.

Quanta Services Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, October 11th. Shareholders of record on Tuesday, October 1st were paid a dividend of $0.09 per share. The ex-dividend date of this dividend was Tuesday, October 1st. This represents a $0.36 dividend on an annualized basis and a yield of 0.11%. Quanta Services’s dividend payout ratio (DPR) is presently 6.64%.

Insiders Place Their Bets

In other Quanta Services news, insider Gerald A. Ducey, Jr. sold 15,000 shares of Quanta Services stock in a transaction dated Friday, August 9th. The stock was sold at an average price of $257.93, for a total transaction of $3,868,950.00. Following the completion of the transaction, the insider now owns 21,286 shares in the company, valued at approximately $5,490,297.98. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other Quanta Services news, insider Gerald A. Ducey, Jr. sold 15,000 shares of Quanta Services stock in a transaction on Friday, August 9th. The shares were sold at an average price of $257.93, for a total transaction of $3,868,950.00. Following the transaction, 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 position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Earl C. Jr. Austin sold 130,000 shares of the firm’s stock in a transaction dated Wednesday, August 14th. The shares were 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 directly owns 593,402 shares in the company, valued at $155,595,938.42. 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 90 days, insiders have sold 202,357 shares of company stock worth $53,115,572. Insiders own 1.10% of the company’s stock.

Institutional Trading of Quanta Services

A number of hedge funds have recently bought and sold shares of PWR. Csenge Advisory Group boosted its stake in Quanta Services by 24.1% in the first quarter. Csenge Advisory Group now owns 3,321 shares of the construction company’s stock valued at $863,000 after acquiring an additional 645 shares during the last quarter. Empirical Finance LLC raised its holdings in Quanta Services by 3.5% during the 1st quarter. Empirical Finance LLC now owns 5,107 shares of the construction company’s stock valued at $1,327,000 after acquiring an additional 175 shares during the period. Empowered Funds LLC boosted its holdings in shares of Quanta Services by 24.2% in the first quarter. Empowered Funds LLC now owns 1,835 shares of the construction company’s stock worth $477,000 after acquiring an additional 357 shares during the period. SG Americas Securities LLC grew its position in shares of Quanta Services by 76.5% in the first quarter. SG Americas Securities LLC now owns 50,477 shares of the construction company’s stock valued at $13,114,000 after purchasing an additional 21,877 shares in the last quarter. Finally, Alphinity Investment Management Pty Ltd lifted its holdings in Quanta Services by 16.4% during the 1st quarter. Alphinity Investment Management Pty Ltd now owns 8,871 shares of the construction company’s stock worth $2,305,000 after purchasing an additional 1,250 shares in the last quarter. 90.49% of the stock is currently owned by institutional investors.

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.