Quanta Services (NYSE:PWR) Shares Gap Down – Time to Sell?

Quanta Services, Inc. (NYSE:PWR) gapped down prior to trading on Monday . The stock had previously closed at $358.03, but opened at $314.94. Quanta Services shares last traded at $308.59, with a volume of 1,101,376 shares changing hands.

Analyst Ratings Changes

A number of equities research analysts have weighed in on the stock. Stifel Nicolaus boosted their target price on shares of Quanta Services from $374.00 to $388.00 and gave the stock a “buy” rating in a report on Wednesday, January 22nd. Northland Securities reissued an “outperform” rating and issued a $328.00 price objective (up previously from $280.00) on shares of Quanta Services in a research note on Friday, November 1st. TD Cowen raised their target price on Quanta Services from $280.00 to $335.00 and gave the stock a “buy” rating in a research report on Tuesday, October 15th. Daiwa America upgraded Quanta Services to a “strong-buy” rating in a research report on Friday, December 6th. Finally, Citigroup lowered their price objective on Quanta Services from $394.00 to $371.00 and set a “buy” rating for the company in a research report on Wednesday. Four investment analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $330.06.

Quanta Services Trading Up 0.4 %

The company has a current ratio of 1.23, a quick ratio of 1.19 and a debt-to-equity ratio of 0.58. The firm’s 50-day moving average is $330.55 and its 200-day moving average is $300.60. The firm has a market cap of $43.36 billion, a price-to-earnings ratio of 54.19 and a beta of 1.06.

Quanta Services (NYSE:PWR) last posted its 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. The company had revenue of $6.49 billion for the quarter, compared to analyst estimates of $6.56 billion. Quanta Services had a net margin of 3.54% and a return on equity of 16.71%. The firm’s revenue was up 15.5% compared to the same quarter last year. During the same quarter in the prior year, the business posted $2.08 EPS. As a group, sell-side analysts anticipate that Quanta Services, Inc. will post 7.9 EPS for the current fiscal year.

Quanta Services Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, January 13th. Investors of record on Thursday, January 2nd were given a $0.10 dividend. This is a positive change from Quanta Services’s previous quarterly dividend of $0.09. This represents a $0.40 dividend on an annualized basis and a yield of 0.14%. The ex-dividend date was Thursday, January 2nd. Quanta Services’s dividend payout ratio is presently 7.38%.

Institutional Trading of Quanta Services

Several institutional investors and hedge funds have recently made changes to their positions in PWR. Webster Bank N. A. grew its position in Quanta Services by 4,050.0% in the 4th quarter. Webster Bank N. A. now owns 83 shares of the construction company’s stock worth $26,000 after purchasing an additional 81 shares in the last quarter. Legacy Investment Solutions LLC purchased a new position in shares of Quanta Services in the 3rd quarter worth approximately $31,000. Prestige Wealth Management Group LLC purchased a new stake in shares of Quanta Services during the third quarter valued at approximately $30,000. Sound Income Strategies LLC lifted its holdings in Quanta Services by 700.0% during the fourth quarter. Sound Income Strategies LLC now owns 104 shares of the construction company’s stock worth $33,000 after acquiring an additional 91 shares during the period. Finally, Versant Capital Management Inc boosted its position in Quanta Services by 62.5% in the fourth quarter. Versant Capital Management Inc now owns 117 shares of the construction company’s stock worth $37,000 after purchasing an additional 45 shares during the last quarter. Hedge funds and other institutional investors own 90.49% of the company’s stock.

Quanta Services Company Profile

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.