Quanta Services (NYSE:PWR) Share Price Passes Above 200-Day Moving Average – Should You Sell?

Quanta Services, Inc. (NYSE:PWR) passed above its two hundred day moving average during trading on Monday . The stock has a two hundred day moving average of $291.49 and traded as high as $322.40. Quanta Services shares last traded at $318.98, with a volume of 1,084,612 shares changing hands.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on the stock. Stifel Nicolaus lifted their price target on shares of Quanta Services from $343.00 to $374.00 and gave the company a “buy” rating in a research report on Wednesday, December 11th. Truist Financial upped their price target on shares of Quanta Services from $358.00 to $399.00 and gave the stock a “buy” rating in a research report on Thursday, December 19th. Daiwa America raised Quanta Services to a “strong-buy” rating in a research report on Friday, December 6th. Robert W. Baird upped their target price on Quanta Services from $320.00 to $333.00 and gave the stock an “outperform” rating in a research report on Friday, November 1st. Finally, TD Cowen boosted their price target on Quanta Services from $280.00 to $335.00 and gave the stock a “buy” rating in a research report on Tuesday, October 15th. Four analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $324.25.

Quanta Services Price Performance

The company has a debt-to-equity ratio of 0.58, a current ratio of 1.23 and a quick ratio of 1.19. The company has a fifty day moving average price of $326.68 and a 200 day moving average price of $291.49. The company has a market capitalization of $47.09 billion, a P/E ratio of 58.85 and a beta of 1.03.

Quanta Services (NYSE:PWR) last issued its earnings results on Thursday, October 31st. The construction company reported $2.72 earnings per share for the quarter, topping the consensus estimate of $2.46 by $0.26. Quanta Services had a return on equity of 16.71% and a net margin of 3.54%. The firm had revenue of $6.49 billion for the quarter, compared to analyst estimates of $6.56 billion. During the same period last year, the company earned $2.08 earnings per share. The firm’s revenue for the quarter was up 15.5% on a year-over-year basis. On average, sell-side analysts forecast that Quanta Services, Inc. will post 7.9 EPS for the current fiscal year.

Quanta Services Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, January 13th. Investors of record on Thursday, January 2nd will be paid a dividend of $0.10 per share. This is a boost from Quanta Services’s previous quarterly dividend of $0.09. This represents a $0.40 dividend on an annualized basis and a dividend yield of 0.13%. The ex-dividend date is Thursday, January 2nd. Quanta Services’s payout ratio is currently 7.38%.

Hedge Funds Weigh In On Quanta Services

Institutional investors and hedge funds have recently bought and sold shares of the stock. Legacy Investment Solutions LLC bought a new position in shares of Quanta Services in the third quarter valued at approximately $31,000. Prestige Wealth Management Group LLC bought a new stake in shares of Quanta Services in the 3rd quarter worth $30,000. Valley Wealth Managers Inc. bought a new position in Quanta Services during the second quarter valued at about $33,000. Quest Partners LLC acquired a new position in Quanta Services during the second quarter worth about $35,000. Finally, MidAtlantic Capital Management Inc. bought a new stake in Quanta Services in the third quarter worth about $41,000. Institutional investors own 90.49% of the company’s stock.

About Quanta Services

Quanta Services, Inc provides infrastructure solutions for the electric and gas utility, renewable energy, communications, and pipeline and energy industries in the United States, Canada, Australia, and internationally. 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.