Quanta Services (NYSE:PWR) Stock Price Passes Above Two Hundred Day Moving Average – Here’s What Happened

Quanta Services, Inc. (NYSE:PWR) passed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $291.49 and traded as high as $322.40. Quanta Services shares last traded at $318.98, with a volume of 1,084,612 shares traded.

Wall Street Analyst Weigh In

PWR has been the topic of a number of analyst reports. Stifel Nicolaus lifted their price target on Quanta Services from $343.00 to $374.00 and gave the stock a “buy” rating in a research note on Wednesday, December 11th. Wolfe Research began coverage on Quanta Services in a report on Thursday, September 19th. They set an “outperform” rating and a $313.00 price target on the stock. Daiwa Capital Markets started coverage on Quanta Services in a research report on Friday, December 6th. They set an “outperform” rating and a $355.00 price target on the stock. Robert W. Baird upped their target price on Quanta Services from $320.00 to $333.00 and gave the company an “outperform” rating in a report on Friday, November 1st. Finally, Jefferies Financial Group started coverage on shares of Quanta Services in a report on Wednesday, September 4th. They set a “hold” rating and a $256.00 price target for the company. Four analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, Quanta Services presently has a consensus rating of “Moderate Buy” and an average target price of $324.25.

Quanta Services Price Performance

The firm has a market capitalization of $47.09 billion, a P/E ratio of 58.85 and a beta of 1.03. The company has a debt-to-equity ratio of 0.58, a quick ratio of 1.19 and a current ratio of 1.23. The stock has a 50 day moving average of $326.68 and a two-hundred day moving average of $291.49.

Quanta Services (NYSE:PWR) last issued its quarterly earnings data on Thursday, October 31st. The construction company reported $2.72 earnings per share for the quarter, topping analysts’ consensus estimates of $2.46 by $0.26. Quanta Services had a net margin of 3.54% and a return on equity of 16.71%. The business had revenue of $6.49 billion during the quarter, compared to analysts’ expectations of $6.56 billion. During the same period in the previous year, the company earned $2.08 earnings per share. Quanta Services’s revenue for the quarter was up 15.5% on a year-over-year basis. Sell-side analysts predict that Quanta Services, Inc. will post 7.9 earnings per share for the current fiscal year.

Quanta Services Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, January 13th. Stockholders of record on Thursday, January 2nd will be given a $0.10 dividend. This is an increase from Quanta Services’s previous quarterly dividend of $0.09. This represents a $0.40 annualized dividend and a dividend yield of 0.13%. The ex-dividend date is Thursday, January 2nd. Quanta Services’s dividend payout ratio (DPR) is currently 7.38%.

Institutional Trading of Quanta Services

Several hedge funds have recently added to or reduced their stakes in the business. Resurgent Financial Advisors LLC lifted its position in Quanta Services by 0.7% in the 3rd quarter. Resurgent Financial Advisors LLC now owns 4,773 shares of the construction company’s stock valued at $1,423,000 after acquiring an additional 33 shares in the last quarter. Tower Wealth Partners Inc. grew its holdings in shares of Quanta Services by 3.1% during the third quarter. Tower Wealth Partners Inc. now owns 1,122 shares of the construction company’s stock worth $335,000 after buying an additional 34 shares in the last quarter. Huntington National Bank lifted its stake in Quanta Services by 2.9% in the 3rd quarter. Huntington National Bank now owns 1,240 shares of the construction company’s stock valued at $370,000 after acquiring an additional 35 shares in the last quarter. Terra Nova Asset Management LLC grew its stake in shares of Quanta Services by 0.3% during the 3rd quarter. Terra Nova Asset Management LLC now owns 12,779 shares of the construction company’s stock worth $3,810,000 after acquiring an additional 38 shares in the last quarter. Finally, Greenleaf Trust lifted its position in shares of Quanta Services by 1.2% in the third quarter. Greenleaf Trust now owns 3,154 shares of the construction company’s stock worth $940,000 after purchasing an additional 38 shares in the last quarter. 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.