Quanta Services (NYSE:PWR) Sets New 52-Week High – Still a Buy?

Quanta Services, Inc. (NYSE:PWR)’s stock price reached a new 52-week high during mid-day trading on Tuesday . The company traded as high as $490.47 and last traded at $486.75, with a volume of 409340 shares changing hands. The stock had previously closed at $477.77.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on PWR shares. Weiss Ratings upgraded shares of Quanta Services from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Monday, January 12th. Evercore ISI upped their price objective on shares of Quanta Services from $410.00 to $480.00 and gave the stock an “outperform” rating in a report on Friday, October 31st. Citigroup lifted their target price on Quanta Services from $526.00 to $540.00 and gave the stock a “buy” rating in a report on Monday, January 26th. Sanford C. Bernstein reduced their target price on Quanta Services from $432.00 to $428.00 and set a “market perform” rating for the company in a report on Friday, December 19th. Finally, JPMorgan Chase & Co. raised shares of Quanta Services from a “neutral” rating to an “overweight” rating and raised their price objective for the stock from $457.00 to $515.00 in a research note on Monday, December 8th. Thirteen investment analysts have rated the stock with a Buy rating and seven have given a Hold rating to the stock. According to MarketBeat.com, Quanta Services currently has a consensus rating of “Moderate Buy” and an average target price of $462.00.

Quanta Services Trading Up 0.5%

The firm has a market capitalization of $71.58 billion, a PE ratio of 71.12, a price-to-earnings-growth ratio of 2.30 and a beta of 1.15. 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 company has a fifty day moving average of $448.84 and a 200-day moving average of $423.34.

Insider Transactions at Quanta Services

In other news, Director Worthing Jackman sold 6,349 shares of the firm’s stock in a transaction on Wednesday, November 5th. The shares were sold at an average price of $450.45, for a total transaction of $2,859,907.05. Following the transaction, the director owned 2,730 shares in the company, valued at approximately $1,229,728.50. This trade represents a 69.93% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Donald Wayne sold 14,000 shares of the firm’s stock in a transaction dated Thursday, November 6th. The shares were sold at an average price of $443.81, for a total value of $6,213,340.00. Following the transaction, the executive vice president owned 34,575 shares in the company, valued at approximately $15,344,730.75. This trade represents a 28.82% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 28,002 shares of company stock worth $12,487,097 in the last 90 days. 1.10% of the stock is owned by insiders.

Institutional Trading of Quanta Services

Institutional investors and hedge funds have recently modified their holdings of the company. Koshinski Asset Management Inc. grew its stake in Quanta Services by 1.9% in the 4th quarter. Koshinski Asset Management Inc. now owns 3,882 shares of the construction company’s stock valued at $1,638,000 after buying an additional 72 shares during the last quarter. Generali Asset Management SPA SGR grew its position in shares of Quanta Services by 5.2% in the fourth quarter. Generali Asset Management SPA SGR now owns 5,732 shares of the construction company’s stock valued at $2,419,000 after purchasing an additional 285 shares during the last quarter. ASR Vermogensbeheer N.V. lifted its position in shares of Quanta Services by 26.1% during the 4th quarter. ASR Vermogensbeheer N.V. now owns 16,461 shares of the construction company’s stock worth $6,947,000 after purchasing an additional 3,411 shares during the last quarter. WealthShield Partners LLC boosted its stake in Quanta Services by 9.8% during the 4th quarter. WealthShield Partners LLC now owns 1,609 shares of the construction company’s stock valued at $679,000 after purchasing an additional 143 shares during the period. Finally, Sequoia Financial Advisors LLC grew its holdings in Quanta Services by 3.1% in the 4th quarter. Sequoia Financial Advisors LLC now owns 130,436 shares of the construction company’s stock valued at $55,052,000 after buying an additional 3,966 shares during the last quarter. 90.49% of the stock is currently owned by institutional investors and hedge funds.

About Quanta Services

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.