Quanta Services (NYSE:PWR) Sets New 12-Month High – Here’s Why

Quanta Services, Inc. (NYSE:PWR) hit a new 52-week high on Friday . The stock traded as high as $476.26 and last traded at $475.50, with a volume of 249298 shares changing hands. The stock had previously closed at $447.64.

Analyst Ratings Changes

A number of analysts recently commented on the stock. Citigroup upped their price objective on shares of Quanta Services from $517.00 to $526.00 and gave the company a “buy” rating in a research report on Friday, October 31st. Stifel Nicolaus set a $495.00 price target on Quanta Services in a research report on Monday, November 3rd. Truist Financial increased their price target on Quanta Services from $472.00 to $521.00 and gave the company a “buy” rating in a research note on Wednesday, October 8th. Roth Capital set a $500.00 price objective on Quanta Services and gave the stock a “buy” rating in a report on Friday, October 31st. Finally, Robert W. Baird set a $490.00 price target on shares of Quanta Services in a research note on Friday, October 31st. Fourteen research analysts have rated the stock with a Buy rating and ten have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $449.57.

Quanta Services Stock Performance

The company has a debt-to-equity ratio of 0.66, a current ratio of 1.34 and a quick ratio of 1.30. The stock has a market cap of $70.28 billion, a P/E ratio of 69.82, a P/E/G ratio of 2.12 and a beta of 1.16. The company has a fifty day moving average price of $440.66 and a 200 day moving average price of $415.34.

Quanta Services (NYSE:PWR) last announced its earnings results on Thursday, October 30th. The construction company reported $3.33 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.24 by $0.09. The firm had revenue of $7.63 billion during the quarter, compared to analyst estimates of $7.41 billion. Quanta Services had a return on equity of 18.74% and a net margin of 3.74%.The business’s revenue was up 17.5% compared to the same quarter last year. During the same period last year, the firm posted $2.72 EPS. Quanta Services has set its FY 2025 guidance at 10.330-10.830 EPS. On average, equities analysts expect that Quanta Services, Inc. will post 9.34 EPS for the current year.

Insiders Place Their Bets

In other news, Director Bernard Fried sold 4,000 shares of the firm’s stock in a transaction on Monday, November 3rd. The shares were sold at an average price of $452.19, for a total transaction of $1,808,760.00. Following the sale, the director owned 12,493 shares in the company, valued at approximately $5,649,209.67. This trade represents a 24.25% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Gerald A. Ducey, Jr. sold 7,653 shares of Quanta Services stock in a transaction that occurred on Thursday, November 6th. The stock was sold at an average price of $446.08, for a total transaction of $3,413,850.24. Following the transaction, the insider directly owned 19,960 shares in the company, valued at $8,903,756.80. This trade represents a 27.72% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last 90 days, insiders have sold 32,002 shares of company stock worth $14,295,857. Insiders own 1.10% of the company’s stock.

Institutional Investors Weigh In On Quanta Services

Several hedge funds have recently made changes to their positions in the company. Activest Wealth Management raised its position in shares of Quanta Services by 94.1% in the 3rd quarter. Activest Wealth Management now owns 66 shares of the construction company’s stock worth $27,000 after purchasing an additional 32 shares during the last quarter. Copia Wealth Management lifted its holdings in Quanta Services by 509.1% in the second quarter. Copia Wealth Management now owns 67 shares of the construction company’s stock valued at $25,000 after acquiring an additional 56 shares during the period. Darwin Wealth Management LLC purchased a new position in shares of Quanta Services in the second quarter worth approximately $26,000. SOA Wealth Advisors LLC. grew its position in shares of Quanta Services by 159.3% during the 2nd quarter. SOA Wealth Advisors LLC. now owns 70 shares of the construction company’s stock valued at $26,000 after acquiring an additional 43 shares during the period. Finally, Cornerstone Planning Group LLC increased its position in Quanta Services by 213.0% in the third quarter. Cornerstone Planning Group LLC now owns 72 shares of the construction company’s stock worth $30,000 after buying an additional 49 shares in the last quarter. 90.49% of the stock is currently owned by institutional investors.

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.