Quanta Services (NYSE:PWR) Hits New 12-Month Low – Here’s What Happened

Quanta Services, Inc. (NYSE:PWR) shares hit a new 52-week low during trading on Monday . The company traded as low as $227.08 and last traded at $228.93, with a volume of 195931 shares changing hands. The stock had previously closed at $239.47.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on the company. Truist Financial reduced their price objective on Quanta Services from $398.00 to $324.00 and set a “buy” rating on the stock in a research report on Tuesday. Daiwa America cut Quanta Services from a “strong-buy” rating to a “hold” rating in a report on Monday, February 24th. Stifel Nicolaus dropped their price objective on shares of Quanta Services from $323.00 to $287.00 and set a “buy” rating for the company in a report on Wednesday. Guggenheim initiated coverage on shares of Quanta Services in a report on Wednesday, January 8th. They set a “neutral” rating on the stock. Finally, JPMorgan Chase & Co. raised their price target on shares of Quanta Services from $297.00 to $323.00 and gave the company a “neutral” rating in a research note on Tuesday, January 28th. Seven analysts have rated the stock with a hold rating, fourteen have issued a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $319.25.

Quanta Services Stock Performance

The company has a 50 day moving average price of $270.15 and a 200 day moving average price of $303.38. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.19 and a current ratio of 1.30. The company has a market capitalization of $39.99 billion, a price-to-earnings ratio of 44.75, a P/E/G ratio of 1.41 and a beta of 1.04.

Quanta Services (NYSE:PWR) last released its quarterly earnings data on Thursday, February 20th. The construction company reported $2.74 EPS for the quarter, beating the consensus estimate of $2.62 by $0.12. Quanta Services had a return on equity of 18.00% and a net margin of 3.82%. The firm had revenue of $6.55 billion during the quarter, compared to the consensus estimate of $6.61 billion. Equities research analysts predict that Quanta Services, Inc. will post 9.34 earnings per share for the current fiscal year.

Quanta Services Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, April 11th. Shareholders of record on Thursday, April 3rd will be paid a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a dividend yield of 0.15%. The ex-dividend date is Thursday, April 3rd. Quanta Services’s dividend payout ratio (DPR) is 6.63%.

Institutional Investors Weigh In On Quanta Services

Hedge funds and other institutional investors have recently made changes to their positions in the business. Norges Bank acquired a new position in Quanta Services during the 4th quarter valued at about $544,937,000. Capital World Investors lifted its holdings in shares of Quanta Services by 14.1% in the fourth quarter. Capital World Investors now owns 7,223,471 shares of the construction company’s stock valued at $2,282,978,000 after purchasing an additional 891,977 shares in the last quarter. GAMMA Investing LLC grew its holdings in Quanta Services by 22,475.0% during the first quarter. GAMMA Investing LLC now owns 815,409 shares of the construction company’s stock worth $207,261,000 after buying an additional 811,797 shares in the last quarter. Raymond James Financial Inc. purchased a new stake in Quanta Services in the 4th quarter valued at $203,068,000. Finally, Bank of America Corp DE lifted its stake in Quanta Services by 42.8% during the 4th quarter. Bank of America Corp DE now owns 1,691,652 shares of the construction company’s stock valued at $534,647,000 after acquiring an additional 506,722 shares in the last quarter. 90.49% of the stock is owned by institutional investors.

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.