Quanta Services, Inc. (NYSE:PWR – Get Rating) CEO Earl C. Jr. Austin sold 135,000 shares of Quanta Services stock in a transaction dated Friday, June 10th. The shares were sold at an average price of $126.48, for a total value of $17,074,800.00. Following the completion of the transaction, the chief executive officer now directly owns 689,030 shares of the company’s stock, valued at $87,148,514.40. The transaction was disclosed in a legal filing with the SEC, which is available through this link.
PWR stock opened at $123.55 on Wednesday. The business has a 50 day moving average price of $122.80 and a 200 day moving average price of $115.97. The stock has a market cap of $17.76 billion, a price-to-earnings ratio of 37.44 and a beta of 1.19. Quanta Services, Inc. has a fifty-two week low of $84.40 and a fifty-two week high of $140.04. The company has a quick ratio of 1.48, a current ratio of 1.51 and a debt-to-equity ratio of 0.74.
Quanta Services (NYSE:PWR – Get Rating) last posted its earnings results on Thursday, May 5th. The construction company reported $1.26 earnings per share for the quarter, topping the consensus estimate of $1.09 by $0.17. Quanta Services had a return on equity of 14.98% and a net margin of 3.38%. The firm had revenue of $3.97 billion during the quarter, compared to analysts’ expectations of $3.60 billion. During the same quarter in the previous year, the business earned $0.73 earnings per share. The firm’s revenue was up 46.7% compared to the same quarter last year. As a group, sell-side analysts anticipate that Quanta Services, Inc. will post 5.79 EPS for the current year.
PWR has been the subject of a number of analyst reports. Cowen boosted their price objective on Quanta Services from $130.00 to $145.00 and gave the stock an “outperform” rating in a research report on Thursday, May 26th. B. Riley boosted their price objective on Quanta Services from $129.00 to $138.00 in a research report on Friday, May 6th. StockNews.com initiated coverage on Quanta Services in a research report on Thursday, March 31st. They set a “hold” rating for the company. KeyCorp boosted their price objective on Quanta Services from $129.00 to $156.00 in a research report on Thursday, April 14th. Finally, Cowen boosted their price objective on Quanta Services from $130.00 to $145.00 in a research report on Thursday, May 26th. Two analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Buy” and an average target price of $141.18.
A number of hedge funds and other institutional investors have recently modified their holdings of PWR. Morgan Stanley lifted its stake in Quanta Services by 117.3% in the second quarter. Morgan Stanley now owns 754,627 shares of the construction company’s stock valued at $68,346,000 after buying an additional 407,330 shares during the last quarter. Franklin Resources Inc. lifted its stake in Quanta Services by 268.3% in the third quarter. Franklin Resources Inc. now owns 52,514 shares of the construction company’s stock valued at $5,977,000 after buying an additional 38,256 shares during the last quarter. Profund Advisors LLC purchased a new stake in Quanta Services in the third quarter valued at approximately $228,000. Mariner LLC purchased a new stake in Quanta Services in the third quarter valued at approximately $1,243,000. Finally, Horizon Investments LLC acquired a new position in shares of Quanta Services in the third quarter valued at approximately $369,000. Institutional investors own 87.16% of the company’s stock.
About Quanta Services (Get Rating)
Quanta Services, Inc provides specialty contracting services worldwide. The 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; energized 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.
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