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

Quanta Services, Inc. (NYSE:PWR) shares hit a new 52-week high during mid-day trading on Friday . The stock traded as high as $476.26 and last traded at $475.50, with a volume of 249298 shares changing hands. The stock had previously closed at $447.64.

Analysts Set New Price Targets

PWR has been the subject of a number of recent analyst reports. Truist Financial lifted their price target on shares of Quanta Services from $472.00 to $521.00 and gave the company a “buy” rating in a research report on Wednesday, October 8th. Sanford C. Bernstein cut their target price on Quanta Services from $432.00 to $428.00 and set a “market perform” rating on the stock in a research report on Friday, December 19th. Evercore ISI upped their target price on Quanta Services from $410.00 to $480.00 and gave the company an “outperform” rating in a research report on Friday, October 31st. The Goldman Sachs Group set a $495.00 target price on shares of Quanta Services in a report on Monday, November 24th. Finally, Weiss Ratings raised Quanta Services from a “hold (c+)” rating to a “buy (b-)” rating in a report on Monday. Fourteen research analysts have rated the stock with a Buy rating and ten have issued a Hold rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $449.57.

Quanta Services Price Performance

The company has a quick ratio of 1.30, a current ratio of 1.34 and a debt-to-equity ratio of 0.66. The stock has a market cap of $70.28 billion, a PE ratio of 69.82, a price-to-earnings-growth ratio of 2.12 and a beta of 1.16. The company’s fifty day moving average is $440.66 and its 200 day moving average is $415.34.

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

Insider Activity at Quanta Services

In other Quanta Services news, insider Gerald A. Ducey, Jr. sold 7,653 shares of the firm’s stock in a transaction dated Thursday, November 6th. The shares were sold at an average price of $446.08, for a total value of $3,413,850.24. Following the completion of the transaction, the insider directly owned 19,960 shares in the company, valued at $8,903,756.80. This trade represents a 27.72% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, EVP Donald Wayne sold 14,000 shares of the stock in a transaction dated Thursday, November 6th. The stock was sold at an average price of $443.81, for a total value of $6,213,340.00. Following the completion of the sale, the executive vice president directly owned 34,575 shares of the company’s stock, valued at approximately $15,344,730.75. This represents a 28.82% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 32,002 shares of company stock worth $14,295,857 over 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 bought and sold shares of PWR. Vanguard Group Inc. boosted its holdings in Quanta Services by 2.2% in the 3rd quarter. Vanguard Group Inc. now owns 18,143,619 shares of the construction company’s stock valued at $7,519,079,000 after purchasing an additional 386,937 shares during the period. JPMorgan Chase & Co. increased its holdings in shares of Quanta Services by 0.7% during the second quarter. JPMorgan Chase & Co. now owns 6,821,962 shares of the construction company’s stock worth $2,579,259,000 after buying an additional 49,334 shares in the last quarter. State Street Corp raised its position in Quanta Services by 1.2% in the 3rd quarter. State Street Corp now owns 6,080,747 shares of the construction company’s stock valued at $2,519,983,000 after purchasing an additional 73,460 shares during the last quarter. Geode Capital Management LLC lifted its position in Quanta Services by 4.1% during the 2nd quarter. Geode Capital Management LLC now owns 3,873,293 shares of the construction company’s stock worth $1,458,362,000 after buying an additional 152,823 shares in the last quarter. Finally, Bank of America Corp DE grew its stake in shares of Quanta Services by 35.6% during the third quarter. Bank of America Corp DE now owns 2,916,540 shares of the construction company’s stock valued at $1,208,672,000 after purchasing an additional 765,822 shares during the last quarter. 90.49% of the stock is currently owned by institutional investors.

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.