Quanta Services (NYSE:PWR) Hits New 52-Week High – What’s Next?

Shares of Quanta Services, Inc. (NYSE:PWR) hit a new 52-week high on Wednesday . The stock traded as high as $483.75 and last traded at $479.27, with a volume of 820963 shares changing hands. The stock had previously closed at $470.77.

Analyst Ratings Changes

Several research firms recently issued reports on PWR. Robert W. Baird set a $490.00 price objective on shares of Quanta Services in a research report on Friday, October 31st. Mizuho set a $415.00 price target on shares of Quanta Services in a report on Tuesday, October 28th. Truist Financial lifted their price target on shares of Quanta Services from $472.00 to $521.00 and gave the company a “buy” rating in a research report on Wednesday, October 8th. Sanford C. Bernstein lowered their price objective on Quanta Services from $432.00 to $428.00 and set a “market perform” rating for the company in a research report on Friday, December 19th. Finally, Stifel Nicolaus lifted their target price on Quanta Services from $495.00 to $517.00 and gave the company a “buy” rating in a research report on Monday. Thirteen investment analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $462.00.

Quanta Services Price Performance

The company has a debt-to-equity ratio of 0.66, a current ratio of 1.34 and a quick ratio of 1.30. The firm has a market capitalization of $71.99 billion, a price-to-earnings ratio of 71.52, a PEG ratio of 2.34 and a beta of 1.16. The stock has a 50 day moving average price of $447.27 and a two-hundred day moving average price of $421.70.

Quanta Services (NYSE:PWR) last announced its earnings results on Thursday, October 30th. The construction company reported $3.33 EPS for the quarter, beating analysts’ consensus estimates of $3.24 by $0.09. The company had revenue of $7.63 billion during the quarter, compared to analysts’ expectations of $7.41 billion. Quanta Services had a return on equity of 18.74% and a net margin of 3.74%.Quanta Services’s revenue for the quarter was up 17.5% on a year-over-year basis. During the same period last year, the business posted $2.72 EPS. As a group, analysts expect that Quanta Services, Inc. will post 9.34 EPS for the current year.

Insider Buying and Selling at Quanta Services

In related news, Director Worthing Jackman sold 6,349 shares of Quanta Services stock in a transaction that occurred on Wednesday, November 5th. The shares were sold at an average price of $450.45, for a total value of $2,859,907.05. Following the completion of the transaction, the director owned 2,730 shares in the company, valued at approximately $1,229,728.50. The trade was a 69.93% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Gerald A. Ducey, Jr. sold 7,653 shares of the stock in a transaction that occurred on Thursday, November 6th. The stock was sold at an average price of $446.08, for a total transaction of $3,413,850.24. Following the sale, the insider owned 19,960 shares in the company, valued at approximately $8,903,756.80. This trade represents a 27.72% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders sold 32,002 shares of company stock worth $14,295,857. 1.10% of the stock is owned by company insiders.

Institutional Investors Weigh In On Quanta Services

Hedge funds have recently bought and sold shares of the stock. M&T Bank Corp increased its stake in shares of Quanta Services by 16.1% during the fourth quarter. M&T Bank Corp now owns 11,845 shares of the construction company’s stock worth $4,999,000 after buying an additional 1,644 shares during the period. Exencial Wealth Advisors LLC raised its holdings in shares of Quanta Services by 358.6% in the 4th quarter. Exencial Wealth Advisors LLC now owns 3,279 shares of the construction company’s stock valued at $1,384,000 after purchasing an additional 2,564 shares in the last quarter. Anchyra Partners LLC purchased a new stake in shares of Quanta Services during the 4th quarter worth $270,000. Aprio Wealth Management LLC grew its stake in shares of Quanta Services by 6.0% during the fourth quarter. Aprio Wealth Management LLC now owns 741 shares of the construction company’s stock worth $313,000 after purchasing an additional 42 shares in the last quarter. Finally, Kestra Private Wealth Services LLC increased its holdings in Quanta Services by 11.6% in the fourth quarter. Kestra Private Wealth Services LLC now owns 14,409 shares of the construction company’s stock valued at $6,082,000 after buying an additional 1,502 shares during the last quarter. Institutional investors and hedge funds own 90.49% of the company’s stock.

Quanta Services Company Profile

Quanta Services, Inc is a leading specialty contractor that provides comprehensive infrastructure solutions for the electric power, pipeline and energy, and communications markets. Headquartered in Houston, Texas, the company delivers engineering, procurement, construction, installation, maintenance and repair services that support the development, modernization and ongoing operation of critical energy and communications networks.

In the electric power sector, Quanta works on transmission and distribution systems, substation construction and grid modernization projects that include integration of renewable generation and energy storage.