Quanta Services (NYSE:PWR) Hits New 52-Week High – Here’s Why

Quanta Services, Inc. (NYSE:PWR) reached a new 52-week high on Thursday . The stock traded as high as $483.29 and last traded at $462.01, with a volume of 211085 shares trading hands. The stock had previously closed at $473.24.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on PWR shares. Evercore ISI raised their target price on shares of Quanta Services from $410.00 to $480.00 and gave the company an “outperform” rating in a research note on Friday, October 31st. Roth Mkm set a $500.00 target price on shares of Quanta Services and gave the stock a “buy” rating in a research report on Friday, October 31st. Citigroup raised their price target on shares of Quanta Services from $517.00 to $526.00 and gave the company a “buy” rating in a report on Friday, October 31st. Argus set a $540.00 price objective on shares of Quanta Services in a research report on Friday, October 31st. Finally, Robert W. Baird set a $490.00 price target on Quanta Services in a research note on Friday, October 31st. Thirteen analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $454.55.

Quanta Services Price Performance

The stock has a market cap of $70.19 billion, a price-to-earnings ratio of 69.73, a PEG ratio of 2.25 and a beta of 1.16. The company has a 50 day simple moving average of $442.17 and a 200-day simple moving average of $418.05. The company has a quick ratio of 1.30, a current ratio of 1.34 and a debt-to-equity ratio of 0.66.

Quanta Services (NYSE:PWR) last posted its quarterly earnings results on Thursday, October 30th. The construction company reported $3.33 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.24 by $0.09. The business had revenue of $7.63 billion for the quarter, compared to analyst estimates of $7.41 billion. Quanta Services had a return on equity of 18.74% and a net margin of 3.74%.The business’s revenue was up 17.5% compared to the same quarter last year. During the same period in the prior year, the company posted $2.72 EPS. Quanta Services has set its FY 2025 guidance at 10.330-10.830 EPS. As a group, research analysts anticipate that Quanta Services, Inc. will post 9.34 EPS for the current fiscal year.

Insider Buying and Selling at Quanta Services

In other Quanta Services news, 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 of the company’s stock, valued at $15,344,730.75. This trade represents a 28.82% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Worthing Jackman sold 6,349 shares of the company’s 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 transaction, the director directly owned 2,730 shares of the company’s stock, valued at $1,229,728.50. This trade represents a 69.93% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 32,002 shares of company stock worth $14,295,857 in the last ninety days. Insiders own 1.10% of the company’s stock.

Hedge Funds Weigh In On Quanta Services

Several institutional investors have recently modified their holdings of the company. Activest Wealth Management boosted its stake in Quanta Services by 94.1% during the 3rd quarter. Activest Wealth Management now owns 66 shares of the construction company’s stock valued at $27,000 after purchasing an additional 32 shares during the period. Flagship Harbor Advisors LLC acquired a new position in shares of Quanta Services during the fourth quarter worth approximately $28,000. Copia Wealth Management grew its holdings in Quanta Services by 509.1% in the 2nd quarter. Copia Wealth Management now owns 67 shares of the construction company’s stock worth $25,000 after buying an additional 56 shares in the last quarter. Darwin Wealth Management LLC acquired a new stake in Quanta Services in the 2nd quarter valued at approximately $26,000. Finally, SOA Wealth Advisors LLC. boosted its position in Quanta Services by 159.3% during the 2nd quarter. SOA Wealth Advisors LLC. now owns 70 shares of the construction company’s stock worth $26,000 after acquiring an additional 43 shares during the period. Institutional investors 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.