Quanta Services (NYSE:PWR) Sets New 1-Year High – Here’s What Happened

Quanta Services, Inc. (NYSE:PWR)’s stock price reached a new 52-week high during trading on Monday . The stock traded as high as $367.00 and last traded at $365.97, with a volume of 211576 shares trading hands. The stock had previously closed at $358.26.

Analysts Set New Price Targets

A number of analysts have issued reports on PWR shares. Argus set a $375.00 price target on Quanta Services in a report on Monday, May 5th. Stifel Nicolaus raised their price objective on Quanta Services from $306.00 to $363.00 and gave the stock a “buy” rating in a report on Monday, May 5th. TD Cowen boosted their target price on Quanta Services from $335.00 to $355.00 and gave the company a “buy” rating in a report on Wednesday, May 7th. B. Riley raised their price target on Quanta Services from $300.00 to $355.00 and gave the stock a “neutral” rating in a research note on Friday, May 2nd. Finally, The Goldman Sachs Group reiterated a “buy” rating and issued a $414.00 price objective (up previously from $364.00) on shares of Quanta Services in a research note on Wednesday, June 4th. Six analysts have rated the stock with a hold rating, fourteen have given a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $349.65.

Quanta Services Stock Up 0.9%

The firm’s 50-day simple moving average is $316.61 and its two-hundred day simple moving average is $304.39. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.30 and a quick ratio of 1.19. The company has a market capitalization of $53.59 billion, a price-to-earnings ratio of 59.95, a price-to-earnings-growth ratio of 1.41 and a beta of 1.07.

Quanta Services (NYSE:PWR) last released its quarterly earnings data on Thursday, May 1st. The construction company reported $1.78 earnings per share for the quarter, beating the consensus estimate of $1.72 by $0.06. Quanta Services had a return on equity of 18.00% and a net margin of 3.82%. The firm had revenue of $6.23 billion during the quarter, compared to the consensus estimate of $5.88 billion. During the same period last year, the business posted $1.41 EPS. Quanta Services’s quarterly revenue was up 23.9% on a year-over-year basis. Sell-side analysts predict that Quanta Services, Inc. will post 9.34 EPS for the current fiscal year.

Quanta Services Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, July 11th. Stockholders of record on Tuesday, July 1st will be given a $0.10 dividend. The ex-dividend date is Tuesday, July 1st. This represents a $0.40 annualized dividend and a dividend yield of 0.11%. Quanta Services’s dividend payout ratio is presently 6.45%.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of PWR. Banque Transatlantique SA purchased a new stake in shares of Quanta Services in the fourth quarter valued at $25,000. Quarry LP purchased a new position in shares of Quanta Services during the fourth quarter valued at approximately $26,000. Sierra Ocean LLC purchased a new position in shares of Quanta Services during the fourth quarter valued at approximately $27,000. Cullen Frost Bankers Inc. purchased a new stake in Quanta Services in the 1st quarter worth approximately $25,000. Finally, Centricity Wealth Management LLC acquired a new position in Quanta Services in the 4th quarter valued at $34,000. 90.49% of the stock is currently owned by institutional investors and hedge funds.

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.