Quanta Services (NYSE:PWR) Shares Pass Above 200 Day Moving Average – Here’s What Happened

Quanta Services, Inc. (NYSE:PWR)’s share price crossed above its two hundred day moving average during trading on Monday . The stock has a two hundred 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 changing hands.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on the company. Stifel Nicolaus boosted their target price on Quanta Services from $343.00 to $374.00 and gave the stock a “buy” rating in a research report on Wednesday, December 11th. TD Cowen upped their price objective on shares of Quanta Services from $280.00 to $335.00 and gave the company a “buy” rating in a research note on Tuesday, October 15th. Robert W. Baird lifted their target price on shares of Quanta Services from $320.00 to $333.00 and gave the stock an “outperform” rating in a research report on Friday, November 1st. Truist Financial upped their price target on shares of Quanta Services from $358.00 to $399.00 and gave the company a “buy” rating in a research report on Thursday, December 19th. Finally, UBS Group lifted their price objective on Quanta Services from $313.00 to $367.00 and gave the stock a “buy” rating in a report on Wednesday, October 23rd. Four equities research analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $324.25.

Quanta Services Stock Down 0.9 %

The company’s fifty day simple moving average is $326.75 and its 200 day simple moving average is $291.79. The company has a current ratio of 1.23, a quick ratio of 1.19 and a debt-to-equity ratio of 0.58. The firm has a market capitalization of $46.65 billion, a P/E ratio of 58.31 and a beta of 1.03.

Quanta Services (NYSE:PWR) last released its quarterly earnings results on Thursday, October 31st. The construction company reported $2.72 earnings per share (EPS) 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 company had revenue of $6.49 billion during the quarter, compared to the consensus estimate of $6.56 billion. During the same period in the prior year, the firm earned $2.08 earnings per share. Quanta Services’s revenue was up 15.5% on a year-over-year basis. Research analysts expect that Quanta Services, Inc. will post 7.9 EPS for the current year.

Quanta Services Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, January 13th. Shareholders of record on Thursday, January 2nd will be issued a $0.10 dividend. This is an increase from Quanta Services’s previous quarterly dividend of $0.09. The ex-dividend date is Thursday, January 2nd. This represents a $0.40 dividend on an annualized basis and a yield of 0.13%. Quanta Services’s dividend payout ratio is 7.38%.

Institutional Trading of Quanta Services

A number of hedge funds have recently modified their holdings of PWR. Legacy Investment Solutions LLC bought a new stake in Quanta Services during the third quarter worth about $31,000. Prestige Wealth Management Group LLC bought a new stake in shares of Quanta Services in the 3rd quarter worth approximately $30,000. Valley Wealth Managers Inc. bought a new stake in Quanta Services in the second quarter worth $33,000. Quest Partners LLC purchased a new stake in shares of Quanta Services in the second quarter worth $35,000. Finally, MidAtlantic Capital Management Inc. bought a new position in shares of Quanta Services during the third quarter valued at $41,000. 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.