Quanta Services (NYSE:PWR) Reaches New 52-Week High – Should You Buy?

Shares of Quanta Services, Inc. (NYSE:PWR) hit a new 52-week high during mid-day trading on Tuesday . The stock traded as high as $490.47 and last traded at $486.75, with a volume of 409340 shares. The stock had previously closed at $477.77.

Analysts Set New Price Targets

Several equities research analysts recently commented on the stock. Roth Mkm set a $500.00 price objective on shares of Quanta Services and gave the stock a “buy” rating in a research report on Friday, October 31st. The Goldman Sachs Group set a $495.00 price target on shares of Quanta Services in a report on Monday, November 24th. JPMorgan Chase & Co. raised shares of Quanta Services from a “neutral” rating to an “overweight” rating and raised their price objective for the stock from $457.00 to $515.00 in a research note on Monday, December 8th. Robert W. Baird set a $490.00 target price on Quanta Services in a research note on Friday, October 31st. Finally, Mizuho set a $415.00 price target on Quanta Services in a research report on Tuesday, October 28th. Thirteen analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $462.00.

Quanta Services Trading Up 0.5%

The company has a current ratio of 1.34, a quick ratio of 1.30 and a debt-to-equity ratio of 0.66. The stock has a market capitalization of $71.58 billion, a price-to-earnings ratio of 71.12, a price-to-earnings-growth ratio of 2.30 and a beta of 1.15. The business has a 50 day simple moving average of $448.84 and a 200-day simple moving average of $423.34.

Insider Buying and Selling at Quanta Services

In related news, EVP Donald Wayne sold 14,000 shares of the company’s stock in a transaction on Thursday, November 6th. The shares were sold at an average price of $443.81, for a total transaction of $6,213,340.00. Following the completion of the sale, the executive vice president directly owned 34,575 shares of the company’s stock, valued at approximately $15,344,730.75. This represents a 28.82% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Worthing Jackman sold 6,349 shares of the stock in a transaction on Wednesday, November 5th. The shares were sold at an average price of $450.45, for a total value of $2,859,907.05. Following the completion of the sale, the director owned 2,730 shares of the company’s stock, valued at approximately $1,229,728.50. This represents a 69.93% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 28,002 shares of company stock worth $12,487,097 in the last quarter. 1.10% of the stock is owned by insiders.

Institutional Trading of Quanta Services

Several large investors have recently modified their holdings of the business. Brighton Jones LLC bought a new stake in Quanta Services during the fourth quarter valued at $298,000. Woodline Partners LP grew its position in shares of Quanta Services by 40.7% during the 1st quarter. Woodline Partners LP now owns 12,471 shares of the construction company’s stock valued at $3,170,000 after buying an additional 3,606 shares during the last quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management acquired a new stake in Quanta Services during the second quarter worth about $271,000. Ameriflex Group Inc. boosted its stake in Quanta Services by 93.0% in the second quarter. Ameriflex Group Inc. now owns 83 shares of the construction company’s stock valued at $32,000 after acquiring an additional 40 shares during the period. Finally, OLD National Bancorp IN bought a new position in shares of Quanta Services during the second quarter valued at approximately $7,757,000. 90.49% of the stock is currently owned by institutional investors and hedge funds.

Quanta Services Company Profile

Quanta Services, Inc is a leading specialty contractor that provides comprehensive infrastructure solutions for the electric power, pipeline and energy, and communications markets. Headquartered in Houston, Texas, the company delivers engineering, procurement, construction, installation, maintenance and repair services that support the development, modernization and ongoing operation of critical energy and communications networks.

In the electric power sector, Quanta works on transmission and distribution systems, substation construction and grid modernization projects that include integration of renewable generation and energy storage.