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

Quanta Services, Inc. (NYSE:PWR)’s stock price reached a new 52-week high during mid-day trading on Wednesday . The stock traded as high as $483.75 and last traded at $479.27, with a volume of 820963 shares traded. The stock had previously closed at $470.77.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on PWR shares. Sanford C. Bernstein cut their price target on Quanta Services from $432.00 to $428.00 and set a “market perform” rating on the stock in a research note on Friday, December 19th. Weiss Ratings upgraded shares of Quanta Services from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Monday, January 12th. Citigroup raised their target price on shares of Quanta Services from $526.00 to $540.00 and gave the company a “buy” rating in a research note on Monday. Evercore ISI boosted their price target on shares of Quanta Services from $410.00 to $480.00 and gave the stock an “outperform” rating in a research note on Friday, October 31st. Finally, Robert W. Baird set a $490.00 price objective on shares of Quanta Services in a research note on Friday, October 31st. Thirteen investment analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $462.00.

Quanta Services Trading Up 1.8%

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 capitalization of $71.47 billion, a P/E ratio of 71.00, a price-to-earnings-growth ratio of 2.28 and a beta of 1.16. The company has a fifty day simple moving average of $445.49 and a two-hundred day simple moving average of $420.84.

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

Insider Activity at Quanta Services

In other news, Director Bernard Fried sold 4,000 shares of the stock in a transaction on Monday, November 3rd. The shares were sold at an average price of $452.19, for a total transaction of $1,808,760.00. Following the completion of the sale, the director owned 12,493 shares of the company’s stock, valued at $5,649,209.67. This represents a 24.25% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Donald Wayne sold 14,000 shares of the company’s stock in a transaction on Thursday, November 6th. The stock was sold at an average price of $443.81, for a total transaction of $6,213,340.00. Following the completion of the transaction, the executive vice president directly owned 34,575 shares of the company’s stock, valued at approximately $15,344,730.75. The trade was a 28.82% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 32,002 shares of company stock worth $14,295,857 over the last ninety days. 1.10% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Quanta Services

Several hedge funds have recently made changes to their positions in PWR. Activest Wealth Management lifted its position in shares of Quanta Services by 94.1% in the third quarter. Activest Wealth Management now owns 66 shares of the construction company’s stock worth $27,000 after purchasing an additional 32 shares in the last quarter. Flagship Harbor Advisors LLC acquired a new stake in Quanta Services in the 4th quarter valued at $28,000. Copia Wealth Management lifted its position in Quanta Services by 509.1% during 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 position in shares of Quanta Services during the 2nd quarter worth about $26,000. Finally, SOA Wealth Advisors LLC. increased its position in shares of Quanta Services by 159.3% in the second quarter. SOA Wealth Advisors LLC. now owns 70 shares of the construction company’s stock valued at $26,000 after acquiring an additional 43 shares during the last quarter. 90.49% of the stock is 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.