Quanta Services (NYSE:PWR) Hits New 52-Week Low – Here’s What Happened

Quanta Services, Inc. (NYSE:PWR)’s share price hit a new 52-week low during trading on Monday . The stock traded as low as $227.08 and last traded at $228.93, with a volume of 195931 shares. The stock had previously closed at $239.47.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on PWR shares. Bank of America started coverage on shares of Quanta Services in a research report on Friday, January 24th. They set a “buy” rating and a $407.00 price objective for the company. Citigroup reduced their target price on shares of Quanta Services from $394.00 to $371.00 and set a “buy” rating for the company in a report on Wednesday, January 29th. Truist Financial dropped their price target on Quanta Services from $399.00 to $398.00 and set a “buy” rating on the stock in a report on Thursday, January 16th. JPMorgan Chase & Co. increased their price target on Quanta Services from $297.00 to $323.00 and gave the company a “neutral” rating in a research report on Tuesday, January 28th. Finally, Roth Capital raised Quanta Services to a “strong-buy” rating in a research note on Thursday, February 20th. Seven research analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $326.79.

Quanta Services Stock Up 1.0 %

The stock has a market cap of $35.83 billion, a PE ratio of 40.10, a P/E/G ratio of 1.41 and a beta of 1.04. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.30 and a quick ratio of 1.19. The business has a 50 day simple moving average of $273.15 and a 200 day simple moving average of $304.43.

Quanta Services (NYSE:PWR) last issued its quarterly earnings data on Thursday, February 20th. The construction company reported $2.74 earnings per share for the quarter, beating the consensus estimate of $2.62 by $0.12. The firm had revenue of $6.55 billion for the quarter, compared to analyst estimates of $6.61 billion. Quanta Services had a net margin of 3.82% and a return on equity of 18.00%. On average, equities research analysts forecast that Quanta Services, Inc. will post 9.34 EPS for the current fiscal year.

Quanta Services Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, April 11th. Investors of record on Thursday, April 3rd will be issued a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a yield of 0.17%. The ex-dividend date of this dividend is Thursday, April 3rd. Quanta Services’s dividend payout ratio is presently 6.63%.

Hedge Funds Weigh In On Quanta Services

Several institutional investors have recently bought and sold shares of the stock. Banque Transatlantique SA acquired a new stake in shares of Quanta Services in the fourth quarter worth $25,000. Webster Bank N. A. lifted its position in Quanta Services by 4,050.0% during the 4th quarter. Webster Bank N. A. now owns 83 shares of the construction company’s stock worth $26,000 after acquiring an additional 81 shares during the last quarter. Quarry LP bought a new stake in Quanta Services during the fourth quarter valued at about $26,000. Sierra Ocean LLC bought a new position in shares of Quanta Services in the fourth quarter worth about $27,000. Finally, Prestige Wealth Management Group LLC bought a new position in shares of Quanta Services in the third quarter worth about $30,000. 90.49% of the stock is currently owned by institutional investors.

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.