Quanta Services, Inc. (NYSE:PWR) Given Consensus Rating of “Buy” by Analysts

Quanta Services, Inc. (NYSE:PWR) has received an average rating of “Buy” from the fourteen analysts that are covering the stock, MarketBeat reports. Two equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. The average 12 month price objective among brokerages that have issued ratings on the stock in the last year is $116.46.

PWR has been the topic of a number of research analyst reports. DA Davidson boosted their price objective on shares of Quanta Services from $95.00 to $108.00 and gave the company a “neutral” rating in a research report on Friday, September 3rd. They noted that the move was a valuation call. Cowen boosted their price objective on shares of Quanta Services from $110.00 to $130.00 and gave the company an “outperform” rating in a research report on Friday, September 10th. Credit Suisse Group boosted their price objective on shares of Quanta Services from $118.00 to $137.00 and gave the company an “outperform” rating in a research report on Wednesday, September 8th. KeyCorp boosted their price objective on shares of Quanta Services from $115.00 to $129.00 and gave the company an “overweight” rating in a research report on Friday, September 3rd. Finally, The Goldman Sachs Group initiated coverage on shares of Quanta Services in a research report on Friday, September 17th. They set a “buy” rating and a $138.00 price objective on the stock.

NYSE:PWR traded up $1.41 during midday trading on Thursday, reaching $112.41. 5,078 shares of the stock traded hands, compared to its average volume of 1,118,310. The company has a fifty day moving average of $108.15 and a 200 day moving average of $97.87. Quanta Services has a 12 month low of $58.93 and a 12 month high of $119.70. The company has a debt-to-equity ratio of 0.30, a quick ratio of 1.72 and a current ratio of 1.75. The stock has a market capitalization of $15.66 billion, a P/E ratio of 30.02 and a beta of 1.25.

Quanta Services (NYSE:PWR) last posted its quarterly earnings results on Thursday, August 5th. The construction company reported $1.06 EPS for the quarter, beating the Zacks’ consensus estimate of $0.89 by $0.17. Quanta Services had a net margin of 4.64% and a return on equity of 13.29%. The company had revenue of $3 billion during the quarter, compared to analyst estimates of $2.94 billion. On average, analysts predict that Quanta Services will post 4.13 EPS for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Friday, October 15th. Stockholders of record on Friday, October 1st will be given a $0.06 dividend. This represents a $0.24 dividend on an annualized basis and a dividend yield of 0.21%. The ex-dividend date of this dividend is Thursday, September 30th. Quanta Services’s dividend payout ratio is presently 7.23%.

In related news, Director Bernard Fried sold 10,000 shares of the stock in a transaction dated Tuesday, September 14th. The shares were sold at an average price of $115.79, for a total transaction of $1,157,900.00. Following the sale, the director now directly owns 17,416 shares of the company’s stock, valued at approximately $2,016,598.64. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 1.10% of the company’s stock.

A number of hedge funds have recently made changes to their positions in the stock. IAM Advisory LLC purchased a new stake in Quanta Services during the 3rd quarter valued at about $974,000. Harbour Capital Advisors LLC bought a new position in Quanta Services during the 3rd quarter valued at about $316,000. Level Four Advisory Services LLC lifted its stake in Quanta Services by 8.9% during the 3rd quarter. Level Four Advisory Services LLC now owns 6,068 shares of the construction company’s stock valued at $691,000 after acquiring an additional 498 shares during the period. CFO4Life Group LLC lifted its stake in Quanta Services by 2.9% during the 3rd quarter. CFO4Life Group LLC now owns 7,008 shares of the construction company’s stock valued at $798,000 after acquiring an additional 198 shares during the period. Finally, Carnegie Capital Asset Management LLC lifted its stake in Quanta Services by 5.6% during the 3rd quarter. Carnegie Capital Asset Management LLC now owns 2,375 shares of the construction company’s stock valued at $270,000 after acquiring an additional 125 shares during the period. 88.07% of the stock is currently owned by institutional investors.

About Quanta Services

Quanta Services, Inc engages in the provision of specialty contracting services, offering infrastructure solutions to the electric power, oil and gas, and communication industries. The firm operates through the Electric Power Infrastructure Services, and Underground Utility and Infrastructure Solutions segment.

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Analyst Recommendations for Quanta Services (NYSE:PWR)

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