Quanta Services (NYSE:PWR) Sets New 1-Year Low – Here’s Why

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

Analysts Set New Price Targets

Several research firms have recently commented on PWR. Stifel Nicolaus cut their price objective on Quanta Services from $323.00 to $287.00 and set a “buy” rating for the company in a report on Wednesday. Piper Sandler assumed coverage on shares of Quanta Services in a research report on Tuesday. They issued an “overweight” rating and a $286.00 price objective for the company. Daiwa America cut shares of Quanta Services from a “strong-buy” rating to a “hold” rating in a report on Monday, February 24th. Roth Mkm assumed coverage on Quanta Services in a report on Friday, February 21st. They set a “buy” rating and a $350.00 price target for the company. Finally, Citigroup dropped their price objective on Quanta Services from $394.00 to $371.00 and set a “buy” rating on the stock in a research note on Wednesday, January 29th. Seven equities research analysts have rated the stock with a hold rating, fourteen have given a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $319.25.

Quanta Services Stock Up 10.1 %

The stock has a 50-day moving average of $270.15 and a 200-day moving average of $303.38. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.30 and a quick ratio of 1.19. The firm has a market cap 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 earnings results on Thursday, February 20th. The construction company reported $2.74 earnings per share (EPS) for the quarter, topping 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 company had revenue of $6.55 billion for the quarter, compared to analyst estimates of $6.61 billion. Sell-side analysts predict that Quanta Services, Inc. will post 9.34 EPS for the current fiscal year.

Quanta Services Dividend Announcement

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

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in the company. Geneos Wealth Management Inc. increased its stake in shares of Quanta Services by 0.7% in the 4th quarter. Geneos Wealth Management Inc. now owns 4,167 shares of the construction company’s stock valued at $1,317,000 after purchasing an additional 29 shares during the last quarter. Commonwealth Financial Services LLC grew its position in Quanta Services by 2.6% in the fourth quarter. Commonwealth Financial Services LLC now owns 1,152 shares of the construction company’s stock valued at $364,000 after acquiring an additional 29 shares during the last quarter. HB Wealth Management LLC raised its stake in Quanta Services by 0.9% during the fourth quarter. HB Wealth Management LLC now owns 3,323 shares of the construction company’s stock worth $1,050,000 after acquiring an additional 31 shares in the last quarter. Moody Lynn & Lieberson LLC lifted its holdings in shares of Quanta Services by 0.5% in the fourth quarter. Moody Lynn & Lieberson LLC now owns 6,141 shares of the construction company’s stock worth $1,941,000 after acquiring an additional 32 shares during the last quarter. Finally, Larson Financial Group LLC boosted its stake in shares of Quanta Services by 7.8% in the 4th quarter. Larson Financial Group LLC now owns 456 shares of the construction company’s stock valued at $144,000 after purchasing an additional 33 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.