Quanta Services (PWR) Hits New 1-Year High at $40.49

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Quanta Services Inc (NYSE:PWR) hit a new 52-week high on Tuesday . The company traded as high as $40.49 and last traded at $40.36, with a volume of 547347 shares. The stock had previously closed at $39.82.

PWR has been the subject of a number of research analyst reports. Citigroup set a $46.00 target price on Quanta Services and gave the stock a “buy” rating in a report on Friday, February 22nd. ValuEngine upgraded Quanta Services from a “sell” rating to a “hold” rating in a report on Thursday, January 24th. Zacks Investment Research downgraded Quanta Services from a “hold” rating to a “sell” rating in a report on Thursday, January 3rd. B. Riley reiterated 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. Finally, DA Davidson downgraded Quanta Services from a “buy” rating to a “neutral” rating in a report on Tuesday, April 16th. Four equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. Quanta Services has a consensus rating of “Hold” and a consensus price target of $42.60.

The firm has a market capitalization of $5.68 billion, a price-to-earnings ratio of 16.01, a P/E/G ratio of 1.54 and a beta of 1.05. The company has a quick ratio of 1.78, a current ratio of 1.84 and a debt-to-equity ratio of 0.29.

Quanta Services (NYSE:PWR) last announced its quarterly earnings data on Thursday, February 21st. The construction company reported $0.96 EPS for the quarter, beating the Zacks’ consensus estimate of $0.90 by $0.06. Quanta Services had a return on equity of 10.63% and a net margin of 2.63%. The firm had revenue of $3.11 billion during the quarter, compared to analysts’ expectations of $2.94 billion. During the same quarter last year, the firm posted $0.45 earnings per share. The company’s revenue for the quarter was up 25.6% compared to the same quarter last year. Equities analysts expect that Quanta Services Inc will post 3.24 EPS for the current fiscal year.

The company also recently disclosed a quarterly dividend, which was paid on Friday, April 19th. Shareholders of record on Friday, April 5th were paid a $0.04 dividend. The ex-dividend date was Thursday, April 4th. This represents a $0.16 dividend on an annualized basis and a yield of 0.39%. Quanta Services’s dividend payout ratio (DPR) is presently 6.32%.

In other Quanta Services news, EVP Donald Wayne sold 1,295 shares of the firm’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 sale, the executive vice president now owns 30,054 shares of the company’s stock, valued at $1,084,648.86. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider James Redgie Probst sold 100,000 shares of the firm’s stock in a transaction that occurred on Monday, April 15th. The shares were sold at an average price of $40.00, for a total value of $4,000,000.00. Following the completion of the sale, the insider now directly owns 47,420 shares of the company’s stock, valued at approximately $1,896,800. The disclosure for this sale can be found here. Insiders sold 105,295 shares of company stock valued at $4,193,257 in the last three months. Insiders own 1.20% of the company’s stock.

A number of institutional investors have recently made changes to their positions in the business. Fort L.P. purchased a new position in shares of Quanta Services during the fourth quarter valued at approximately $39,000. Private Capital Group LLC boosted its position in shares of Quanta Services by 79.6% during the fourth quarter. Private Capital Group LLC now owns 1,690 shares of the construction company’s stock valued at $51,000 after buying an additional 749 shares during the last quarter. Valeo Financial Advisors LLC boosted its position in shares of Quanta Services by 2,541.8% during the first quarter. Valeo Financial Advisors LLC now owns 1,453 shares of the construction company’s stock valued at $55,000 after buying an additional 1,398 shares during the last quarter. CSat Investment Advisory L.P. boosted its position in shares of Quanta Services by 53.7% during the fourth quarter. CSat Investment Advisory L.P. now owns 1,858 shares of the construction company’s stock valued at $56,000 after buying an additional 649 shares during the last quarter. Finally, Huntington National Bank boosted its position in shares of Quanta Services by 37.0% during the first quarter. Huntington National Bank now owns 2,220 shares of the construction company’s stock valued at $84,000 after buying an additional 599 shares during the last quarter. 87.82% of the stock is owned by hedge funds and other institutional investors.

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About Quanta Services (NYSE:PWR)

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.

Further Reading: Percentage Decliners

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