Quanta Services (NYSE:PWR) Reaches New 52-Week High – Time to Buy?

Shares of Quanta Services, Inc. (NYSE:PWR) reached a new 52-week high during mid-day trading on Tuesday . The stock traded as high as $371.00 and last traded at $366.62, with a volume of 52766 shares traded. The stock had previously closed at $365.76.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on PWR. BMO Capital Markets set a $352.00 price target on Quanta Services in a research note on Friday, May 2nd. B. Riley lifted their price target on shares of Quanta Services from $300.00 to $355.00 and gave the company a “neutral” rating in a research report on Friday, May 2nd. Argus set a $375.00 price objective on shares of Quanta Services in a research report on Monday, May 5th. Evercore ISI lifted their target price on shares of Quanta Services from $331.00 to $360.00 and gave the company an “outperform” rating in a report on Friday, May 2nd. Finally, Citigroup decreased their price target on Quanta Services from $366.00 to $342.00 and set a “buy” rating on the stock in a research note on Friday, April 25th. Six investment analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $349.65.

Quanta Services Trading Up 0.8%

The business’s fifty day simple moving average is $328.14 and its two-hundred day simple moving average is $305.38. The company has a quick ratio of 1.26, a current ratio of 1.31 and a debt-to-equity ratio of 0.58. The company has a market cap of $54.64 billion, a price-to-earnings ratio of 59.45, a PEG ratio of 2.81 and a beta of 1.07.

Quanta Services (NYSE:PWR) last released its quarterly earnings data on Thursday, May 1st. The construction company reported $1.78 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.72 by $0.06. Quanta Services had a net margin of 3.74% and a return on equity of 18.06%. The company had revenue of $6.23 billion during the quarter, compared to the consensus estimate of $5.88 billion. During the same quarter in the prior year, the firm posted $1.41 earnings per share. Quanta Services’s revenue for the quarter was up 23.9% on a year-over-year basis. On average, equities analysts predict that Quanta Services, Inc. will post 9.34 EPS for the current year.

Quanta Services Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, July 11th. Investors of record on Tuesday, July 1st will be given a $0.10 dividend. The ex-dividend date of this dividend is Tuesday, July 1st. This represents a $0.40 annualized dividend and a yield of 0.11%. Quanta Services’s dividend payout ratio (DPR) is 6.45%.

Institutional Investors Weigh In On Quanta Services

A number of institutional investors and hedge funds have recently made changes to their positions in PWR. Banque Transatlantique SA acquired a new position in Quanta Services in the 4th quarter valued at about $25,000. Quarry LP purchased a new position in shares of Quanta Services in the 4th quarter valued at approximately $26,000. Cullen Frost Bankers Inc. purchased a new stake in shares of Quanta Services during the first quarter worth approximately $25,000. WPG Advisers LLC acquired a new stake in shares of Quanta Services during the first quarter worth $31,000. Finally, Rakuten Securities Inc. increased its stake in Quanta Services by 1,027.3% in the 4th quarter. Rakuten Securities Inc. now owns 124 shares of the construction company’s stock valued at $39,000 after buying an additional 113 shares during the period. 90.49% of the stock is owned by hedge funds and other 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.