Quanta Services (PWR) Hits New 52-Week High at $37.48

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Quanta Services Inc (NYSE:PWR) reached a new 52-week high during mid-day trading on Friday . The company traded as high as $37.48 and last traded at $37.49, with a volume of 63205 shares trading hands. The stock had previously closed at $36.91.

PWR has been the topic of a number of recent research reports. ValuEngine lowered Quanta Services from a “hold” rating to a “sell” rating in a research note on Wednesday, January 2nd. B. Riley reaffirmed a “buy” rating and issued a $47.00 target price (down previously from $56.00) on shares of Quanta Services in a research note on Monday. Citigroup set a $46.00 target price on Quanta Services and gave the company a “buy” rating in a research note on Friday, February 22nd. Finally, Zacks Investment Research lowered Quanta Services from a “hold” rating to a “sell” rating in a research note on Thursday, January 3rd. Three equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and a consensus price target of $42.60.

The company has a quick ratio of 1.78, a current ratio of 1.84 and a debt-to-equity ratio of 0.29. The firm has a market cap of $5.29 billion, a price-to-earnings ratio of 14.81, a price-to-earnings-growth ratio of 1.40 and a beta of 1.04.

Quanta Services (NYSE:PWR) last issued its quarterly earnings results on Thursday, February 21st. The construction company reported $0.96 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.90 by $0.06. The company had revenue of $3.11 billion during the quarter, compared to the consensus estimate of $2.94 billion. Quanta Services had a return on equity of 10.63% and a net margin of 2.63%. Quanta Services’s revenue was up 25.6% on a year-over-year basis. During the same period in the previous year, the firm posted $0.45 EPS. On average, research analysts expect that Quanta Services Inc will post 3.24 EPS for the current year.

In other news, CEO Earl C. Jr. Austin acquired 25,500 shares of the company’s stock in a transaction dated Wednesday, December 19th. The stock was acquired at an average cost of $29.40 per share, for a total transaction of $749,700.00. Following the acquisition, the chief executive officer now directly owns 441,647 shares in the company, valued at approximately $12,984,421.80. The purchase was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO Derrick A. Jensen acquired 8,560 shares of the company’s stock in a transaction dated Wednesday, December 19th. The shares were purchased at an average price of $29.11 per share, with a total value of $249,181.60. Following the completion of the acquisition, the chief financial officer now owns 250,603 shares in the company, valued at $7,295,053.33. The disclosure for this purchase can be found here. Insiders acquired a total of 52,060 shares of company stock valued at $1,538,702 over the last quarter. 0.74% of the stock is currently owned by insiders.

Several hedge funds have recently added to or reduced their stakes in the company. Fulton Bank N.A. increased its holdings in Quanta Services by 7.8% in the 4th quarter. Fulton Bank N.A. now owns 18,978 shares of the construction company’s stock valued at $571,000 after purchasing an additional 1,377 shares in the last quarter. Suffolk Capital Management LLC increased its holdings in Quanta Services by 191.6% in the 4th quarter. Suffolk Capital Management LLC now owns 324,181 shares of the construction company’s stock valued at $9,758,000 after purchasing an additional 213,023 shares in the last quarter. Greenhaven Associates Inc. increased its holdings in Quanta Services by 5.9% in the 4th quarter. Greenhaven Associates Inc. now owns 2,730,550 shares of the construction company’s stock valued at $82,190,000 after purchasing an additional 152,250 shares in the last quarter. Tygh Capital Management Inc. increased its holdings in Quanta Services by 76.5% in the 3rd quarter. Tygh Capital Management Inc. now owns 128,836 shares of the construction company’s stock valued at $4,301,000 after purchasing an additional 55,831 shares in the last quarter. Finally, Cerebellum GP LLC increased its holdings in Quanta Services by 84.8% in the 4th quarter. Cerebellum GP LLC now owns 8,968 shares of the construction company’s stock valued at $270,000 after purchasing an additional 4,115 shares in the last quarter. Institutional investors and hedge funds own 84.22% of the company’s stock.

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Quanta Services Company Profile (NYSE:PWR)

Quanta Services, Inc provides specialty contracting services to the electric power, communication, and oil and gas industries in the United States, Canada, Australia, Latin America, and internationally. Its Electric Power Infrastructure Services segment provides network solutions, including the design, installation, upgrade, repair, and maintenance of electric power transmission and distribution infrastructure, and substation facilities, as well as other engineering and technical services.

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