Quanta Services (NYSE:PWR) Hits New 1-Year High at $150.00

Quanta Services, Inc. (NYSE:PWRGet Rating)’s share price reached a new 52-week high during trading on Friday . The stock traded as high as $150.00 and last traded at $149.49, with a volume of 697 shares. The stock had previously closed at $148.75.

Wall Street Analysts Forecast Growth

PWR has been the topic of several analyst reports. Credit Suisse Group raised their target price on Quanta Services from $168.00 to $186.00 and gave the stock an “outperform” rating in a report on Friday, November 4th. Cowen raised their target price on Quanta Services from $145.00 to $155.00 and gave the stock an “outperform” rating in a report on Thursday, August 11th. Argus raised their target price on Quanta Services from $154.00 to $162.00 in a report on Friday, September 9th. Cowen raised their target price on Quanta Services from $145.00 to $155.00 in a report on Thursday, August 11th. Finally, Robert W. Baird raised their target price on Quanta Services from $136.00 to $147.00 and gave the stock an “outperform” rating in a report on Friday, August 5th. Two research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to MarketBeat, Quanta Services currently has an average rating of “Moderate Buy” and an average price target of $154.17.

Quanta Services Stock Performance

The firm has a market cap of $21.24 billion, a PE ratio of 50.74 and a beta of 1.10. The firm has a 50-day moving average price of $137.17 and a two-hundred day moving average price of $132.09. The company has a quick ratio of 1.57, a current ratio of 1.60 and a debt-to-equity ratio of 0.75.

Quanta Services Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, October 14th. Stockholders of record on Monday, October 3rd were given a $0.07 dividend. The ex-dividend date was Friday, September 30th. This represents a $0.28 annualized dividend and a dividend yield of 0.19%. Quanta Services’s dividend payout ratio (DPR) is presently 9.56%.

Hedge Funds Weigh In On Quanta Services

Hedge funds and other institutional investors have recently made changes to their positions in the company. National Pension Service purchased a new position in Quanta Services during the third quarter worth approximately $25,138,000. Captrust Financial Advisors lifted its position in Quanta Services by 5.9% during the third quarter. Captrust Financial Advisors now owns 22,979 shares of the construction company’s stock worth $2,927,000 after buying an additional 1,275 shares in the last quarter. Kentucky Retirement Systems Insurance Trust Fund lifted its position in Quanta Services by 4.4% during the third quarter. Kentucky Retirement Systems Insurance Trust Fund now owns 5,125 shares of the construction company’s stock worth $653,000 after buying an additional 215 shares in the last quarter. Kentucky Retirement Systems lifted its position in Quanta Services by 5.0% during the third quarter. Kentucky Retirement Systems now owns 11,196 shares of the construction company’s stock worth $1,426,000 after buying an additional 530 shares in the last quarter. Finally, Advisory Research Inc. lifted its position in Quanta Services by 10.3% during the third quarter. Advisory Research Inc. now owns 4,663 shares of the construction company’s stock worth $594,000 after buying an additional 437 shares in the last quarter. Hedge funds and other institutional investors own 91.79% of the company’s stock.

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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