Quanta Services (NYSE:PWR) Sets New 52-Week High – Here’s What Happened

Quanta Services, Inc. (NYSE:PWR)’s stock price hit a new 52-week high during trading on Wednesday . The stock traded as high as $434.39 and last traded at $422.45, with a volume of 934564 shares trading hands. The stock had previously closed at $427.80.

Analyst Ratings Changes

Several brokerages have recently commented on PWR. Evercore ISI upped their price objective on shares of Quanta Services from $360.00 to $410.00 and gave the company an “outperform” rating in a research note on Friday, August 8th. BMO Capital Markets downgraded shares of Quanta Services from an “outperform” rating to a “market perform” rating and upped their price objective for the company from $352.00 to $400.00 in a research note on Thursday, July 17th. Citigroup upped their price objective on shares of Quanta Services from $432.00 to $492.00 and gave the company a “buy” rating in a research note on Monday, July 28th. Sanford C. Bernstein downgraded shares of Quanta Services from an “outperform” rating to a “market perform” rating and set a $410.00 price objective for the company. in a research note on Monday, July 28th. Finally, JPMorgan Chase & Co. boosted their price target on shares of Quanta Services from $345.00 to $392.00 and gave the company a “neutral” rating in a research report on Tuesday, July 22nd. Fourteen investment analysts have rated the stock with a Buy rating and twelve have given a Hold rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $404.27.

Quanta Services Price Performance

The company has a quick ratio of 1.32, a current ratio of 1.37 and a debt-to-equity ratio of 0.59. The firm’s 50-day moving average is $390.22 and its 200-day moving average is $352.24. The company has a market cap of $62.95 billion, a PE ratio of 65.39, a PEG ratio of 2.54 and a beta of 1.04.

Quanta Services (NYSE:PWR) last announced its quarterly earnings data on Thursday, July 31st. The construction company reported $2.48 earnings per share for the quarter, topping analysts’ consensus estimates of $2.44 by $0.04. The business had revenue of $6.77 billion for the quarter, compared to analysts’ expectations of $6.55 billion. Quanta Services had a net margin of 3.73% and a return on equity of 18.41%. The business’s revenue was up 21.1% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.90 earnings per share. Quanta Services has set its FY 2025 guidance at 10.280-10.880 EPS. On average, equities analysts anticipate that Quanta Services, Inc. will post 9.34 EPS for the current year.

Quanta Services Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, October 10th. Shareholders of record on Wednesday, October 1st will be issued a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a yield of 0.1%. The ex-dividend date is Wednesday, October 1st. Quanta Services’s dividend payout ratio is 6.19%.

Institutional Investors Weigh In On Quanta Services

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Vanguard Group Inc. grew its holdings in Quanta Services by 1.9% in the second quarter. Vanguard Group Inc. now owns 17,756,682 shares of the construction company’s stock worth $6,713,446,000 after purchasing an additional 339,383 shares during the period. JPMorgan Chase & Co. grew its holdings in shares of Quanta Services by 0.7% during the second quarter. JPMorgan Chase & Co. now owns 6,821,962 shares of the construction company’s stock valued at $2,579,259,000 after buying an additional 49,334 shares during the last quarter. State Street Corp grew its holdings in shares of Quanta Services by 0.4% during the second quarter. State Street Corp now owns 6,007,287 shares of the construction company’s stock valued at $2,271,235,000 after buying an additional 24,669 shares during the last quarter. Geode Capital Management LLC grew its holdings in shares of Quanta Services by 4.1% during the second quarter. Geode Capital Management LLC now owns 3,873,293 shares of the construction company’s stock valued at $1,458,362,000 after buying an additional 152,823 shares during the last quarter. Finally, DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main grew its holdings in shares of Quanta Services by 57.2% during the second quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 2,425,436 shares of the construction company’s stock valued at $917,009,000 after buying an additional 882,209 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.