Quanta Services Inc (NYSE:PWR) Director Bernard Fried sold 4,000 shares of Quanta Services stock in a transaction dated Monday, March 25th. The stock was sold at an average price of $36.63, for a total value of $146,520.00. Following the completion of the transaction, the director now directly owns 8,953 shares of the company’s stock, valued at $327,948.39. The transaction was disclosed in a document filed with the SEC, which is available at this link.
PWR stock traded down $0.08 during mid-day trading on Friday, reaching $40.01. 1,241,777 shares of the company traded hands, compared to its average volume of 1,292,785. Quanta Services Inc has a fifty-two week low of $27.90 and a fifty-two week high of $40.47. The company has a market capitalization of $5.68 billion, a P/E ratio of 15.81, a price-to-earnings-growth ratio of 1.54 and a beta of 1.05. The company has a debt-to-equity ratio of 0.29, a quick ratio of 1.78 and a current ratio of 1.84.
Quanta Services (NYSE:PWR) last announced its earnings results on Thursday, February 21st. The construction company reported $0.96 earnings per share for the quarter, topping analysts’ consensus estimates of $0.90 by $0.06. Quanta Services had a return on equity of 10.63% and a net margin of 2.63%. The firm had revenue of $3.11 billion for the quarter, compared to the consensus estimate of $2.94 billion. During the same quarter in the previous year, the business earned $0.45 EPS. The company’s revenue was up 25.6% compared to the same quarter last year. As a group, sell-side analysts forecast that Quanta Services Inc will post 3.24 earnings per share for the current fiscal year.
Several large investors have recently bought and sold shares of PWR. Norges Bank bought a new stake in shares of Quanta Services in the 4th quarter worth approximately $43,421,000. NWQ Investment Management Company LLC bought a new stake in Quanta Services during the 3rd quarter valued at $39,460,000. Peconic Partners LLC raised its holdings in Quanta Services by 20.1% during the 4th quarter. Peconic Partners LLC now owns 3,690,373 shares of the construction company’s stock valued at $111,080,000 after acquiring an additional 618,459 shares during the period. Victory Capital Management Inc. raised its holdings in Quanta Services by 6.4% during the 4th quarter. Victory Capital Management Inc. now owns 6,612,780 shares of the construction company’s stock valued at $199,045,000 after acquiring an additional 396,564 shares during the period. Finally, Millennium Management LLC raised its holdings in Quanta Services by 14.7% during the 4th quarter. Millennium Management LLC now owns 2,977,495 shares of the construction company’s stock valued at $89,623,000 after acquiring an additional 380,948 shares during the period. 87.82% of the stock is currently owned by institutional investors.
A number of equities analysts have issued reports on PWR shares. B. Riley reiterated a “buy” rating and set a $47.00 price target (down previously from $56.00) on shares of Quanta Services in a research note on Monday, March 11th. Citigroup set a $46.00 price target on Quanta Services and gave the company a “buy” rating in a research note on Friday, February 22nd. ValuEngine upgraded Quanta Services from a “sell” rating to a “hold” rating in a research note on Thursday, January 24th. Zacks Investment Research upgraded Quanta Services from a “sell” rating to a “hold” rating and set a $41.00 price target for the company in a research note on Monday, February 25th. Finally, DA Davidson downgraded Quanta Services from a “buy” rating to a “neutral” rating in a research note on Tuesday, April 16th. Four research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus target price of $42.60.
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Quanta Services Company Profile
Quanta Services, Inc provides specialty contracting services in the United States, Canada, Australia, Latin America, and internationally. Its Electric Power Infrastructure Services segment designs, installs, upgrades, repairs, and maintains electric power transmission and distribution infrastructure, and substation facilities, as well as provides other engineering and technical services; designs, installs, maintains, and repairs commercial and industrial wiring; and operates a postsecondary educational institution.
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