Quanta Services (PWR) to Release Earnings on Thursday

Quanta Services (NYSE:PWRGet Rating) will be announcing its earnings results before the market opens on Thursday, August 4th. Analysts expect the company to announce earnings of $1.38 per share for the quarter. Quanta Services has set its FY22 guidance at $6.00-$6.50 EPS.Investors that wish to register for the company’s conference call can do so using this link.

Quanta Services (NYSE:PWRGet Rating) last announced its quarterly earnings results on Thursday, May 5th. The construction company reported $1.26 EPS for the quarter, beating analysts’ consensus estimates of $1.09 by $0.17. The business had revenue of $3.97 billion during the quarter, compared to analyst estimates of $3.60 billion. Quanta Services had a net margin of 3.38% and a return on equity of 14.98%. Quanta Services’s quarterly revenue was up 46.7% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.73 EPS. On average, analysts expect Quanta Services to post $6 EPS for the current fiscal year and $6 EPS for the next fiscal year.

Quanta Services Stock Performance

Shares of PWR stock opened at $133.97 on Thursday. The firm has a market capitalization of $19.25 billion, a PE ratio of 40.60 and a beta of 1.10. The firm has a fifty day simple moving average of $125.17 and a two-hundred day simple moving average of $118.90. The company has a current ratio of 1.51, a quick ratio of 1.48 and a debt-to-equity ratio of 0.74. Quanta Services has a 12 month low of $86.94 and a 12 month high of $140.04.

Quanta Services Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, July 15th. Shareholders of record on Friday, July 1st were paid a dividend of $0.07 per share. The ex-dividend date of this dividend was Thursday, June 30th. This represents a $0.28 dividend on an annualized basis and a yield of 0.21%. Quanta Services’s dividend payout ratio (DPR) is presently 8.48%.

Insider Buying and Selling

In related news, CEO Earl C. Jr. Austin sold 135,000 shares of the business’s 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 transaction, the chief executive officer now directly owns 689,030 shares of the company’s stock, valued at approximately $87,148,514.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In other Quanta Services news, Director Vincent D. Foster sold 14,948 shares of the company’s stock in a transaction dated Wednesday, June 22nd. The shares were sold at an average price of $119.01, for a total transaction of $1,778,961.48. Following the sale, the director now directly owns 204,925 shares of the company’s stock, valued at $24,388,124.25. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CEO Earl C. Jr. Austin sold 135,000 shares of the company’s stock in a transaction dated Friday, June 10th. The shares were sold at an average price of $126.48, for a total transaction of $17,074,800.00. Following the sale, the chief executive officer now directly owns 689,030 shares in the company, valued at $87,148,514.40. The disclosure for this sale can be found here. 1.30% of the stock is owned by insiders.

Institutional Investors Weigh In On Quanta Services

Several institutional investors have recently added to or reduced their stakes in the business. Vanguard Group Inc. lifted its holdings in Quanta Services by 1.2% during the first quarter. Vanguard Group Inc. now owns 15,363,311 shares of the construction company’s stock valued at $2,021,965,000 after purchasing an additional 182,092 shares during the last quarter. State Street Corp lifted its holdings in shares of Quanta Services by 0.4% in the first quarter. State Street Corp now owns 4,758,029 shares of the construction company’s stock worth $626,204,000 after buying an additional 20,702 shares in the last quarter. Royal Bank of Canada lifted its holdings in shares of Quanta Services by 52.2% in the first quarter. Royal Bank of Canada now owns 1,492,323 shares of the construction company’s stock worth $196,405,000 after buying an additional 511,508 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its holdings in shares of Quanta Services by 3.0% in the first quarter. Charles Schwab Investment Management Inc. now owns 1,084,870 shares of the construction company’s stock worth $142,780,000 after buying an additional 32,050 shares in the last quarter. Finally, Clearbridge Investments LLC lifted its holdings in shares of Quanta Services by 1.6% in the first quarter. Clearbridge Investments LLC now owns 781,944 shares of the construction company’s stock worth $102,912,000 after buying an additional 12,103 shares in the last quarter. 87.16% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of analysts have commented on the stock. The Goldman Sachs Group boosted their price target on shares of Quanta Services from $127.00 to $143.00 and gave the company a “buy” rating in a research note on Thursday, April 7th. Argus started coverage on shares of Quanta Services in a research note on Friday, July 15th. They set a “buy” rating and a $150.00 price target for the company. Cowen upped their target price on shares of Quanta Services from $130.00 to $145.00 in a research note on Thursday, May 26th. StockNews.com started coverage on shares of Quanta Services in a research note on Thursday, March 31st. They issued a “hold” rating for the company. Finally, B. Riley upped their target price on shares of Quanta Services from $129.00 to $138.00 in a research note on Friday, May 6th. Two equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. Based on data from MarketBeat, Quanta Services has an average rating of “Moderate Buy” and an average price target of $144.08.

About Quanta Services

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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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Earnings History for Quanta Services (NYSE:PWR)

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