Quanta Services Inc (PWR) Receives Average Recommendation of “Hold” from Analysts

Quanta Services Inc (NYSE:PWR) has been assigned a consensus rating of “Hold” from the seven brokerages that are presently covering the firm, Marketbeat reports. Four equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company. The average 1-year price objective among analysts that have covered the stock in the last year is $42.80.

Several research analysts have recently commented on the company. DA Davidson downgraded Quanta Services from a “buy” rating to a “neutral” rating in a report on Tuesday, April 16th. ValuEngine raised Quanta Services from a “sell” rating to a “hold” rating in a report on Thursday, January 24th. Citigroup set a $46.00 target price on Quanta Services and gave the stock a “buy” rating in a report on Friday, February 22nd. Zacks Investment Research raised Quanta Services from a “sell” rating to a “hold” rating and set a $41.00 target price on the stock in a report on Monday, February 25th. Finally, B. Riley reissued a “buy” rating and issued a $47.00 target price (down from $56.00) on shares of Quanta Services in a report on Monday, March 11th.

In other news, Director Bernard Fried sold 4,000 shares of the business’s stock in a transaction that occurred on Monday, March 25th. The stock was sold at an average price of $36.63, for a total value of $146,520.00. Following the transaction, the director now directly owns 8,953 shares of the company’s stock, valued at approximately $327,948.39. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Donald Wayne sold 1,295 shares of the business’s stock in a transaction that occurred on Friday, March 1st. The stock was sold at an average price of $36.09, for a total value of $46,736.55. Following the completion of the transaction, the executive vice president now directly owns 30,054 shares in the company, valued at $1,084,648.86. The disclosure for this sale can be found here. Insiders sold a total of 105,295 shares of company stock worth $4,193,257 over the last three months. 1.20% of the stock is owned by company insiders.

Institutional investors and hedge funds have recently made changes to their positions in the company. Fort L.P. acquired a new position in Quanta Services during the 4th quarter worth $39,000. Private Capital Group LLC lifted its holdings in Quanta Services by 79.6% during the 4th quarter. Private Capital Group LLC now owns 1,690 shares of the construction company’s stock worth $51,000 after buying an additional 749 shares in the last quarter. Valeo Financial Advisors LLC lifted its holdings in Quanta Services by 2,541.8% during the 1st quarter. Valeo Financial Advisors LLC now owns 1,453 shares of the construction company’s stock worth $55,000 after buying an additional 1,398 shares in the last quarter. CSat Investment Advisory L.P. lifted its holdings in Quanta Services by 53.7% during the 4th quarter. CSat Investment Advisory L.P. now owns 1,858 shares of the construction company’s stock worth $56,000 after buying an additional 649 shares in the last quarter. Finally, Federated Investors Inc. PA lifted its holdings in Quanta Services by 264.8% during the 1st quarter. Federated Investors Inc. PA now owns 1,543 shares of the construction company’s stock worth $58,000 after buying an additional 1,120 shares in the last quarter. 87.20% of the stock is currently owned by institutional investors and hedge funds.

NYSE PWR opened at $35.67 on Thursday. The company has a debt-to-equity ratio of 0.41, a quick ratio of 1.95 and a current ratio of 2.00. The company has a market cap of $5.03 billion, a price-to-earnings ratio of 14.10 and a beta of 1.07. Quanta Services has a 1-year low of $27.90 and a 1-year high of $41.00.

Quanta Services (NYSE:PWR) last released its quarterly earnings data on Thursday, May 2nd. The construction company reported $0.96 earnings per share for the quarter, beating analysts’ consensus estimates of $0.83 by $0.13. The company had revenue of $2.81 billion for the quarter, compared to the consensus estimate of $2.65 billion. Quanta Services had a return on equity of 12.71% and a net margin of 3.25%. The company’s quarterly revenue was up 16.1% on a year-over-year basis. During the same period in the previous year, the business earned $0.40 earnings per share. On average, sell-side analysts predict that Quanta Services will post 3.34 EPS for the current year.

The firm also recently announced a quarterly dividend, which was paid on Friday, April 19th. Stockholders of record on Friday, April 5th were issued a $0.04 dividend. This represents a $0.16 annualized dividend and a dividend yield of 0.45%. The ex-dividend date of this dividend was Thursday, April 4th. Quanta Services’s payout ratio is currently 6.32%.

About Quanta Services

Quanta Services, Inc provides specialty contracting services in the United States, Canada, Australia, Latin America, and internationally. Its Electric Power Infrastructure Services segment designs, installs, upgrades, repairs, and maintains electric power transmission and distribution infrastructure, and substation facilities, as well as provides other engineering and technical services; designs, installs, maintains, and repairs commercial and industrial wiring; and operates a postsecondary educational institution.

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Analyst Recommendations for Quanta Services (NYSE:PWR)

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