Quanta Services, Inc. (NYSE:PWR) Receives Average Rating of “Moderate Buy” from Analysts

Quanta Services, Inc. (NYSE:PWR) has received a consensus recommendation of “Moderate Buy” from the eleven brokerages that are covering the stock, Marketbeat Ratings reports. Two research analysts have rated the stock with a hold rating and nine have given a buy rating to the company. The average 1-year target price among analysts that have issued ratings on the stock in the last year is $239.54.

PWR has been the subject of a number of research reports. Citigroup upped their price objective on shares of Quanta Services from $234.00 to $237.00 and gave the company a “buy” rating in a research note on Friday, January 26th. DA Davidson lifted their price objective on Quanta Services from $190.00 to $225.00 and gave the stock a “neutral” rating in a report on Wednesday, February 28th. Stifel Nicolaus increased their target price on Quanta Services from $237.00 to $252.00 and gave the company a “buy” rating in a report on Friday, February 23rd. Evercore ISI initiated coverage on Quanta Services in a research note on Tuesday, February 13th. They issued an “outperform” rating and a $237.00 price target on the stock. Finally, KeyCorp assumed coverage on Quanta Services in a research note on Wednesday, January 10th. They set a “sector weight” rating for the company.

Quanta Services Stock Performance

NYSE PWR opened at $254.69 on Friday. Quanta Services has a 52-week low of $153.74 and a 52-week high of $265.82. The company has a fifty day moving average of $238.74 and a 200-day moving average of $206.81. The company has a market capitalization of $37.12 billion, a P/E ratio of 50.84 and a beta of 1.11. The company has a debt-to-equity ratio of 0.58, a quick ratio of 1.44 and a current ratio of 1.47.

Quanta Services (NYSE:PWR) last issued its quarterly earnings results on Thursday, February 22nd. The construction company reported $2.04 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.83 by $0.21. The firm had revenue of $5.78 billion during the quarter, compared to analyst estimates of $5.19 billion. Quanta Services had a return on equity of 16.46% and a net margin of 3.57%. The company’s revenue was up 31.0% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.54 earnings per share. As a group, equities research analysts predict that Quanta Services will post 7.63 EPS for the current fiscal year.

Quanta Services Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 17th. Shareholders of record on Tuesday, April 9th will be given a dividend of $0.09 per share. This represents a $0.36 dividend on an annualized basis and a yield of 0.14%. The ex-dividend date is Monday, April 8th. Quanta Services’s payout ratio is currently 7.19%.

Insider Transactions at Quanta Services

In related news, EVP Donald Wayne sold 1,101 shares of the business’s stock in a transaction dated Wednesday, March 27th. The shares were sold at an average price of $261.94, for a total transaction of $288,395.94. Following the transaction, the executive vice president now owns 40,065 shares in the company, valued at $10,494,626.10. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In related news, EVP Donald Wayne sold 1,101 shares of the stock in a transaction dated Wednesday, March 27th. The shares were sold at an average price of $261.94, for a total value of $288,395.94. Following the completion of the transaction, the executive vice president now directly owns 40,065 shares in the company, valued at approximately $10,494,626.10. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Worthing Jackman sold 9,572 shares of Quanta Services stock in a transaction dated Wednesday, February 28th. The shares were sold at an average price of $237.31, for a total transaction of $2,271,531.32. Following the transaction, the director now directly owns 7,486 shares of the company’s stock, valued at $1,776,502.66. The disclosure for this sale can be found here. In the last ninety days, insiders sold 47,125 shares of company stock valued at $11,270,215. Company insiders own 1.20% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in PWR. Gradient Investments LLC increased its position in shares of Quanta Services by 669,187.5% during the fourth quarter. Gradient Investments LLC now owns 53,543 shares of the construction company’s stock valued at $11,555,000 after acquiring an additional 53,535 shares in the last quarter. Saxon Interests Inc. bought a new position in shares of Quanta Services during the fourth quarter valued at $1,352,000. Nordea Investment Management AB increased its holdings in Quanta Services by 8,297.7% in the 4th quarter. Nordea Investment Management AB now owns 912,413 shares of the construction company’s stock worth $196,205,000 after buying an additional 901,548 shares in the last quarter. Chicago Capital LLC purchased a new position in Quanta Services in the 4th quarter worth about $6,834,000. Finally, Marion Wealth Management bought a new position in Quanta Services during the 4th quarter valued at about $1,233,000. Hedge funds and other institutional investors own 90.49% of the company’s stock.

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.