Quanta Services (NYSE:PWR) Hits New 12-Month High – What’s Next?

Quanta Services, Inc. (NYSE:PWR)’s stock price reached a new 52-week high during trading on Tuesday . The stock traded as high as $371.00 and last traded at $366.62, with a volume of 52766 shares. The stock had previously closed at $365.76.

Wall Street Analyst Weigh In

Several research firms recently issued reports on PWR. UBS Group set a $413.00 target price on Quanta Services and gave the company a “buy” rating in a research report on Thursday, June 12th. B. Riley raised their price objective on Quanta Services from $300.00 to $355.00 and gave the stock a “neutral” rating in a research note on Friday, May 2nd. BMO Capital Markets set a $352.00 target price on Quanta Services in a research report on Friday, May 2nd. Argus set a $375.00 price target on shares of Quanta Services in a research report on Monday, May 5th. Finally, Stifel Nicolaus increased their price objective on shares of Quanta Services from $306.00 to $363.00 and gave the stock a “buy” rating in a research note on Monday, May 5th. Six research analysts have rated the stock with a hold rating, fourteen have issued a buy rating and two have given a strong buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $349.65.

Quanta Services Stock Performance

The stock has a market cap of $54.64 billion, a price-to-earnings ratio of 59.45, a P/E/G ratio of 2.81 and a beta of 1.07. The firm’s 50-day moving average is $328.14 and its two-hundred day moving average is $305.38. The company has a current ratio of 1.31, a quick ratio of 1.26 and a debt-to-equity ratio of 0.58.

Quanta Services (NYSE:PWR) last issued its quarterly earnings results on Thursday, May 1st. The construction company reported $1.78 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.72 by $0.06. The firm had revenue of $6.23 billion for the quarter, compared to analyst estimates of $5.88 billion. Quanta Services had a return on equity of 18.06% and a net margin of 3.74%. The business’s revenue was up 23.9% on a year-over-year basis. During the same period in the previous year, the company posted $1.41 earnings per share. As a group, sell-side analysts expect that Quanta Services, Inc. will post 9.34 earnings per share for the current year.

Quanta Services Dividend Announcement

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

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in PWR. Vanguard Group Inc. grew its holdings in Quanta Services by 2.4% in the 1st quarter. Vanguard Group Inc. now owns 17,417,299 shares of the construction company’s stock valued at $4,427,129,000 after buying an additional 407,878 shares in the last quarter. Capital World Investors grew its holdings in shares of Quanta Services by 14.1% in the fourth quarter. Capital World Investors now owns 7,223,471 shares of the construction company’s stock valued at $2,282,978,000 after purchasing an additional 891,977 shares during the period. Geode Capital Management LLC increased its position in Quanta Services by 2.9% during the fourth quarter. Geode Capital Management LLC now owns 3,558,827 shares of the construction company’s stock worth $1,121,830,000 after purchasing an additional 99,416 shares during the last quarter. Invesco Ltd. raised its stake in Quanta Services by 3.7% during the fourth quarter. Invesco Ltd. now owns 1,913,847 shares of the construction company’s stock worth $604,871,000 after purchasing an additional 68,565 shares during the period. Finally, Norges Bank purchased a new stake in shares of Quanta Services in the 4th quarter valued at approximately $544,937,000. 90.49% of the stock is currently owned by institutional investors and hedge funds.

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.