Quanta Services (NYSE:PWR) Stock Price Down 3.7%

Quanta Services, Inc. (NYSE:PWR) fell 3.7% during mid-day trading on Friday . The stock traded as low as $168.64 and last traded at $168.65. 567,918 shares changed hands during mid-day trading, a decline of 37% from the average session volume of 907,943 shares. The stock had previously closed at $175.08.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on PWR. Credit Suisse Group upped their target price on shares of Quanta Services from $201.00 to $238.00 and gave the stock an “outperform” rating in a research note on Friday, August 4th. Argus boosted their price target on shares of Quanta Services from $234.00 to $248.00 and gave the stock a “buy” rating in a report on Wednesday, September 6th. UBS Group boosted their price target on shares of Quanta Services from $195.00 to $228.00 in a report on Monday, July 10th. Robert W. Baird reissued an “outperform” rating and issued a $219.00 price target on shares of Quanta Services in a report on Thursday, September 14th. Finally, DA Davidson boosted their price target on shares of Quanta Services from $170.00 to $190.00 and gave the stock a “neutral” rating in a report on Monday, August 7th. Three equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $205.27.

Quanta Services Stock Performance

The firm has a market capitalization of $24.56 billion, a PE ratio of 36.07 and a beta of 1.11. The company has a debt-to-equity ratio of 0.66, a current ratio of 1.61 and a quick ratio of 1.64. The company’s fifty day simple moving average is $185.58 and its 200 day simple moving average is $186.67.

Quanta Services (NYSE:PWR) last released its quarterly earnings data on Thursday, August 3rd. The construction company reported $1.47 EPS for the quarter, missing the consensus estimate of $1.53 by ($0.06). The business had revenue of $5.05 billion for the quarter, compared to analysts’ expectations of $4.69 billion. Quanta Services had a net margin of 3.57% and a return on equity of 15.55%. As a group, equities research analysts expect that Quanta Services, Inc. will post 6.46 EPS for the current fiscal year.

Quanta Services Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, October 13th. Stockholders of record on Monday, October 2nd were issued a $0.08 dividend. This represents a $0.32 dividend on an annualized basis and a dividend yield of 0.19%. The ex-dividend date of this dividend was Friday, September 29th. Quanta Services’s payout ratio is 6.82%.

Insider Transactions at Quanta Services

In other news, EVP Donald Wayne sold 5,000 shares of the stock in a transaction dated Friday, September 1st. The shares were sold at an average price of $210.92, for a total value of $1,054,600.00. Following the sale, the executive vice president now directly owns 41,323 shares of the company’s stock, valued at $8,715,847.16. The sale was disclosed in a legal filing with the SEC, which is available at this link. Insiders own 1.20% of the company’s stock.

Institutional Investors Weigh In On Quanta Services

A number of institutional investors and hedge funds have recently modified their holdings of PWR. Pinnacle Financial Partners Inc increased its position in shares of Quanta Services by 2.2% in the third quarter. Pinnacle Financial Partners Inc now owns 42,851 shares of the construction company’s stock worth $8,016,000 after purchasing an additional 906 shares during the last quarter. NBC Securities Inc. bought a new position in shares of Quanta Services in the third quarter worth approximately $36,000. Nomura Asset Management Co. Ltd. increased its position in shares of Quanta Services by 19.0% in the third quarter. Nomura Asset Management Co. Ltd. now owns 118,666 shares of the construction company’s stock worth $22,199,000 after purchasing an additional 18,918 shares during the last quarter. Private Advisor Group LLC increased its position in shares of Quanta Services by 2.0% in the third quarter. Private Advisor Group LLC now owns 7,875 shares of the construction company’s stock worth $1,473,000 after purchasing an additional 152 shares during the last quarter. Finally, Machina Capital S.A.S. bought a new position in shares of Quanta Services in the third quarter worth approximately $352,000. 87.86% of the stock is owned by hedge funds and other institutional investors.

About Quanta Services

Quanta Services, Inc provides infrastructure solutions for the electric and gas utility, renewable energy, communications, and pipeline and energy industries worldwide. 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.