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

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

Wall Street Analysts Forecast Growth

PWR has been the topic of several recent analyst reports. UBS Group increased their price target on Quanta Services from $313.00 to $367.00 and gave the stock a “buy” rating in a report on Wednesday, October 23rd. Daiwa Capital Markets assumed coverage on shares of Quanta Services in a research note on Friday, December 6th. They set an “outperform” rating and a $355.00 target price on the stock. Daiwa America raised shares of Quanta Services to a “strong-buy” rating in a research note on Friday, December 6th. Guggenheim initiated coverage on shares of Quanta Services in a research report on Wednesday, January 8th. They set a “neutral” rating on the stock. Finally, Truist Financial decreased their target price on Quanta Services from $399.00 to $398.00 and set a “buy” rating for the company in a research report on Thursday, January 16th. Four analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $324.19.

Quanta Services Stock Performance

The company has a 50-day moving average price of $329.50 and a two-hundred day moving average price of $297.36. The company has a quick ratio of 1.19, a current ratio of 1.23 and a debt-to-equity ratio of 0.58. The stock has a market capitalization of $52.34 billion, a P/E ratio of 65.42 and a beta of 1.06.

Quanta Services (NYSE:PWR) last posted its quarterly earnings data on Thursday, October 31st. The construction company reported $2.72 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.46 by $0.26. The company had revenue of $6.49 billion during the quarter, compared to analyst estimates of $6.56 billion. Quanta Services had a return on equity of 16.71% and a net margin of 3.54%. The firm’s quarterly revenue was up 15.5% on a year-over-year basis. During the same quarter last year, the company earned $2.08 earnings per share. Equities analysts expect that Quanta Services, Inc. will post 7.9 earnings per share for the current year.

Quanta Services Increases Dividend

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

Hedge Funds Weigh In On Quanta Services

Institutional investors and hedge funds have recently made changes to their positions in the business. AlphaMark Advisors LLC grew its position in shares of Quanta Services by 1.3% in the 4th quarter. AlphaMark Advisors LLC now owns 3,640 shares of the construction company’s stock worth $1,150,000 after buying an additional 45 shares during the last quarter. Moody Lynn & Lieberson LLC raised its position in shares of Quanta Services by 0.5% in the 4th quarter. Moody Lynn & Lieberson LLC now owns 6,141 shares of the construction company’s stock worth $1,941,000 after acquiring an additional 32 shares in the last quarter. Stewardship Advisors LLC purchased a new position in shares of Quanta Services in the 4th quarter valued at approximately $210,000. Geneos Wealth Management Inc. raised its holdings in Quanta Services by 0.7% in the fourth quarter. Geneos Wealth Management Inc. now owns 4,167 shares of the construction company’s stock worth $1,317,000 after purchasing an additional 29 shares in the last quarter. Finally, Carr Financial Group Corp grew its position in shares of Quanta Services by 17.4% in the 4th quarter. Carr Financial Group Corp now owns 1,293 shares of the construction company’s stock worth $409,000 after buying an additional 192 shares during the period. Institutional investors own 90.49% of the company’s stock.

Quanta Services Company Profile

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.