Quanta Services (NYSE:PWR) Stock Falls 10% – Time to Sell?

Quanta Services, Inc. (NYSE:PWR) fell 10% during mid-day trading on Wednesday. The stock traded as low as $580.55 and last traded at $591.0550. 484,492 shares changed hands during trading, a decline of 58% from the average session volume of 1,142,556 shares. The stock had previously closed at $657.00.

Analyst Ratings Changes

A number of research firms have commented on PWR. The Goldman Sachs Group set a $781.00 price target on Quanta Services in a report on Thursday, October 22nd. Mizuho set a $684.00 price target on shares of Quanta Services in a report on Wednesday, October 7th. Wall Street Zen upgraded shares of Quanta Services from a “hold” rating to a “buy” rating in a research note on Saturday. Citigroup increased their price objective on shares of Quanta Services from $871.00 to $882.00 and gave the company a “buy” rating in a report on Friday, October 30th. Finally, JPMorgan Chase & Co. lowered Quanta Services from an “overweight” rating to a “neutral” rating and set a $714.00 price objective for the company. in a research report on Tuesday, July 21st. Twenty-three investment analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and three have assigned a Sell rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $763.81.

Quanta Services Stock Down 12.8%

The business has a 50-day moving average price of $633.15 and a 200 day moving average price of $625.14. The company has a current ratio of 1.16, a quick ratio of 1.13 and a debt-to-equity ratio of 0.60. The stock has a market capitalization of $86.30 billion, a P/E ratio of 51.89, a P/E/G ratio of 1.62 and a beta of 1.29.

Quanta Services (NYSE:PWR) last announced its quarterly earnings results on Thursday, October 29th. The construction company reported $6.06 earnings per share for the quarter, topping the consensus estimate of $5.02 by $1.04. The company had revenue of $12.01 billion for the quarter, compared to analysts’ expectations of $11.03 billion. Quanta Services had a net margin of 4.51% and a return on equity of 23.56%. Quanta Services’s quarterly revenue was up 57.4% on a year-over-year basis. During the same quarter in the previous year, the business posted $3.33 earnings per share. On average, equities analysts expect that Quanta Services, Inc. will post 16.25 EPS for the current fiscal year.

Quanta Services Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, October 9th. Stockholders of record on Thursday, October 1st were paid a dividend of $0.11 per share. The ex-dividend date of this dividend was Thursday, October 1st. This represents a $0.44 dividend on an annualized basis and a dividend yield of 0.1%. Quanta Services’s dividend payout ratio is currently 3.99%.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the stock. Bartlett & CO. Wealth Management LLC raised its position in Quanta Services by 2.6% during the 1st quarter. Bartlett & CO. Wealth Management LLC now owns 513 shares of the construction company’s stock valued at $282,000 after purchasing an additional 13 shares in the last quarter. Pincus Capital Management LP increased its holdings in Quanta Services by 0.4% during the first quarter. Pincus Capital Management LP now owns 3,690 shares of the construction company’s stock valued at $2,026,000 after buying an additional 15 shares during the period. SouthState Bank Corp lifted its stake in shares of Quanta Services by 23.5% during the 1st quarter. SouthState Bank Corp now owns 84 shares of the construction company’s stock worth $46,000 after purchasing an additional 16 shares during the last quarter. Stiles Financial Services Inc grew its position in shares of Quanta Services by 1.8% in the 1st quarter. Stiles Financial Services Inc now owns 987 shares of the construction company’s stock worth $542,000 after buying an additional 17 shares during the last quarter. Finally, Brighton Jones LLC raised its stake in shares of Quanta Services by 0.7% during the 3rd quarter. Brighton Jones LLC now owns 2,515 shares of the construction company’s stock worth $1,616,000 after acquiring an additional 18 shares in the last quarter. Hedge funds and other institutional investors own 90.49% of the company’s stock.

About Quanta Services

Quanta Services, Inc is an infrastructure solutions provider headquartered in Houston, Texas. The company designs, installs, repairs, maintains and upgrades essential infrastructure for the electric power, communications, pipeline, industrial and energy industries.

Its services include electric transmission and distribution construction, substation and renewable-energy infrastructure, storm restoration, fiber-optic and wireless communications networks, natural gas and pipeline construction, and related engineering and maintenance work.