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

Quanta Services, Inc. (NYSE:PWR) has been assigned a consensus rating of “Moderate Buy” from the eleven ratings firms that are presently covering the company, MarketBeat reports. Two research analysts have rated the stock with a hold recommendation and nine have assigned a buy recommendation to the company. The average 12 month target price among brokers that have updated their coverage on the stock in the last year is $239.54.

PWR has been the subject of several research analyst reports. KeyCorp initiated coverage on Quanta Services in a research report on Wednesday, January 10th. They set a “sector weight” rating for the company. Evercore ISI initiated coverage on Quanta Services in a research report on Tuesday, February 13th. They set an “outperform” rating and a $237.00 target price for the company. Citigroup lifted their target price on Quanta Services from $234.00 to $237.00 and gave the stock a “buy” rating in a research report on Friday, January 26th. DA Davidson lifted their target price on Quanta Services from $190.00 to $225.00 and gave the stock a “neutral” rating in a research report on Wednesday, February 28th. Finally, Truist Financial initiated coverage on Quanta Services in a research report on Thursday, March 14th. They set a “buy” rating and a $301.00 target price for the company.

Insiders Place Their Bets

In other Quanta Services news, EVP Derrick A. Jensen sold 18,500 shares of the business’s stock in a transaction dated Tuesday, February 27th. The shares were sold at an average price of $236.90, for a total value of $4,382,650.00. Following the completion of the transaction, the executive vice president now directly owns 263,725 shares in the company, valued at $62,476,452.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Quanta Services 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 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 $10,494,626.10. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Derrick A. Jensen sold 18,500 shares of the business’s stock in a transaction dated Tuesday, February 27th. The stock was sold at an average price of $236.90, for a total transaction of $4,382,650.00. Following the completion of the transaction, the executive vice president now owns 263,725 shares of the company’s stock, valued at $62,476,452.50. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 47,125 shares of company stock worth $11,270,215. 1.20% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Quanta Services

A number of large investors have recently added to or reduced their stakes in the company. Private Ocean LLC acquired a new position in shares of Quanta Services during the first quarter valued at about $26,000. Newbridge Financial Services Group Inc. acquired a new position in shares of Quanta Services during the fourth quarter valued at about $34,000. Grove Bank & Trust increased its holdings in shares of Quanta Services by 75.6% during the third quarter. Grove Bank & Trust now owns 158 shares of the construction company’s stock valued at $30,000 after acquiring an additional 68 shares in the last quarter. Perkins Coie Trust Co acquired a new position in shares of Quanta Services during the third quarter valued at about $30,000. Finally, Hazlett Burt & Watson Inc. increased its holdings in shares of Quanta Services by 47.3% during the fourth quarter. Hazlett Burt & Watson Inc. now owns 162 shares of the construction company’s stock valued at $34,000 after acquiring an additional 52 shares in the last quarter. 90.49% of the stock is currently owned by institutional investors.

Quanta Services Stock Down 0.1 %

NYSE PWR opened at $245.68 on Friday. The company has a quick ratio of 1.44, a current ratio of 1.47 and a debt-to-equity ratio of 0.58. The company has a fifty day moving average of $242.03 and a two-hundred day moving average of $208.31. The firm has a market capitalization of $35.96 billion, a price-to-earnings ratio of 49.04 and a beta of 1.11. Quanta Services has a 52 week low of $153.74 and a 52 week high of $265.82.

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

Quanta Services Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, April 17th. Shareholders of record on Tuesday, April 9th were paid a $0.09 dividend. The ex-dividend date of this dividend was Monday, April 8th. This represents a $0.36 annualized dividend and a yield of 0.15%. Quanta Services’s dividend payout ratio (DPR) is presently 7.19%.

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.