Quanta Services (NYSE:PWR) Hits New 12-Month High – Still a Buy?

Quanta Services, Inc. (NYSE:PWR) shares hit a new 52-week high during mid-day trading on Tuesday . The stock traded as high as $351.01 and last traded at $350.94, with a volume of 713121 shares changing hands. The stock had previously closed at $337.46.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on the company. JPMorgan Chase & Co. started coverage on Quanta Services in a report on Monday, October 7th. They issued a “neutral” rating and a $297.00 price target on the stock. TD Cowen boosted their target price on shares of Quanta Services from $280.00 to $335.00 and gave the stock a “buy” rating in a research report on Tuesday, October 15th. Guggenheim assumed coverage on shares of Quanta Services in a research report on Wednesday, January 8th. They issued a “neutral” rating on the stock. Daiwa America raised Quanta Services to a “strong-buy” rating in a report on Friday, December 6th. Finally, Northland Securities restated an “outperform” rating and issued a $328.00 target price (up previously from $280.00) on shares of Quanta Services in a report on Friday, November 1st. Four analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $325.06.

Quanta Services Trading Down 0.8 %

The company has a debt-to-equity ratio of 0.58, a quick ratio of 1.19 and a current ratio of 1.23. The firm has a market capitalization of $52.33 billion, a PE ratio of 65.41 and a beta of 1.06. The stock’s 50-day simple moving average is $330.71 and its 200-day simple moving average is $298.51.

Quanta Services (NYSE:PWR) last released its earnings results on Thursday, October 31st. The construction company reported $2.72 EPS for the quarter, beating analysts’ consensus estimates of $2.46 by $0.26. The company had revenue of $6.49 billion during the quarter, compared to analysts’ expectations of $6.56 billion. Quanta Services had a return on equity of 16.71% and a net margin of 3.54%. The firm’s revenue for the quarter was up 15.5% compared to the same quarter last year. During the same quarter last year, the business posted $2.08 EPS. As a group, sell-side analysts expect that Quanta Services, Inc. will post 7.9 EPS for the current fiscal year.

Quanta Services Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, January 13th. Stockholders of record on Thursday, January 2nd were given a $0.10 dividend. This represents a $0.40 annualized dividend and a dividend yield of 0.11%. The ex-dividend date was Thursday, January 2nd. This is a positive change from Quanta Services’s previous quarterly dividend of $0.09. Quanta Services’s payout ratio is currently 7.38%.

Institutional Trading of Quanta Services

A number of institutional investors and hedge funds have recently modified their holdings of the business. Electron Capital Partners LLC grew its holdings in shares of Quanta Services by 395.1% in the second quarter. Electron Capital Partners LLC now owns 2,622,142 shares of the construction company’s stock worth $666,260,000 after acquiring an additional 2,092,519 shares during the period. Alkeon Capital Management LLC lifted its stake in shares of Quanta Services by 62.5% in the 3rd quarter. Alkeon Capital Management LLC now owns 650,000 shares of the construction company’s stock worth $193,798,000 after purchasing an additional 250,000 shares during the period. Union Bancaire Privee UBP SA purchased a new position in shares of Quanta Services during the 4th quarter worth $46,364,000. International Assets Investment Management LLC raised its holdings in Quanta Services by 29,655.3% in the 3rd quarter. International Assets Investment Management LLC now owns 148,479 shares of the construction company’s stock worth $44,269,000 after purchasing an additional 147,980 shares during the period. Finally, Public Sector Pension Investment Board lifted its position in Quanta Services by 81.7% during the third quarter. Public Sector Pension Investment Board now owns 279,089 shares of the construction company’s stock valued at $83,210,000 after purchasing an additional 125,530 shares in the last quarter. 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.