Quanta Services (NYSE:PWR) Reaches New 1-Year High at $117.71

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

A number of research analysts have recently issued reports on the stock. Citigroup lifted their price objective on shares of Quanta Services from $115.00 to $120.00 and gave the stock a “buy” rating in a research report on Friday, August 6th. KeyCorp boosted their target price on shares of Quanta Services from $115.00 to $129.00 and gave the stock an “overweight” rating in a research report on Friday, September 3rd. Cowen boosted their target price on shares of Quanta Services from $110.00 to $130.00 and gave the stock an “outperform” rating in a research report on Friday, September 10th. DA Davidson boosted their target price on shares of Quanta Services from $95.00 to $108.00 and gave the stock a “neutral” rating in a research report on Friday, September 3rd. They noted that the move was a valuation call. Finally, Credit Suisse Group upped their price objective on shares of Quanta Services from $118.00 to $137.00 and gave the company an “outperform” rating in a report on Wednesday, September 8th. Two research analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Buy” and an average target price of $105.92.

The company 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 50 day moving average price of $97.29 and a 200-day moving average price of $93.54. 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 data on Thursday, August 5th. The construction company reported $1.06 EPS for the quarter, beating the Zacks’ consensus estimate of $0.89 by $0.17. The business had revenue of $3 billion for the quarter, compared to analyst estimates of $2.94 billion. Quanta Services had a return on equity of 13.29% and a net margin of 4.64%. On average, research analysts expect that Quanta Services, Inc. will post 4.13 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Friday, October 15th. Stockholders of record on Friday, October 1st will be paid a $0.06 dividend. The ex-dividend date of this dividend is Thursday, September 30th. This represents a $0.24 annualized dividend and a dividend yield of 0.20%. Quanta Services’s dividend payout ratio (DPR) is currently 7.23%.

In other news, Director John Michal Conaway sold 3,500 shares of the business’s stock in a transaction dated Thursday, June 17th. The stock was sold at an average price of $89.57, for a total value of $313,495.00. Following the sale, the director now directly owns 7,226 shares in the company, valued at $647,232.82. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. 1.10% of the stock is owned by insiders.

Institutional investors and hedge funds have recently modified their holdings of the company. Thrivent Financial for Lutherans raised its holdings in shares of Quanta Services by 12,220.8% in the 2nd quarter. Thrivent Financial for Lutherans now owns 1,025,341 shares of the construction company’s stock worth $92,865,000 after purchasing an additional 1,017,019 shares during the period. Clearbridge Investments LLC purchased a new position in shares of Quanta Services during the second quarter valued at about $70,039,000. First Trust Advisors LP increased its position in shares of Quanta Services by 154.6% during the second quarter. First Trust Advisors LP now owns 1,222,434 shares of the construction company’s stock valued at $110,716,000 after buying an additional 742,281 shares during the period. UBS Asset Management Americas Inc. grew its holdings in Quanta Services by 209.2% in the first quarter. UBS Asset Management Americas Inc. now owns 809,247 shares of the construction company’s stock worth $71,198,000 after purchasing an additional 547,564 shares during the period. Finally, Allianz Asset Management GmbH grew its holdings in shares of Quanta Services by 452.0% during the second quarter. Allianz Asset Management GmbH now owns 657,873 shares of the construction company’s stock valued at $59,583,000 after buying an additional 538,698 shares during the last quarter. Institutional investors own 88.07% of the company’s stock.

About Quanta Services (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.

Recommended Story: Liquidity

Receive News & Ratings for Quanta Services Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Quanta Services and related companies with MarketBeat.com's FREE daily email newsletter.