Quanta Services Sees Unusually High Options Volume (NYSE:PWR)

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Quanta Services Inc (NYSE:PWR) saw unusually large options trading on Wednesday. Traders bought 1,583 call options on the company. This is an increase of approximately 692% compared to the typical daily volume of 200 call options.

Shares of PWR traded down $2.01 during trading hours on Thursday, hitting $37.66. 54,607 shares of the company were exchanged, compared to its average volume of 1,642,193. The company has a market cap of $5.23 billion, a PE ratio of 17.65, a PEG ratio of 1.06 and a beta of 1.14. The firm’s 50 day moving average is $35.33 and its 200-day moving average is $37.22. Quanta Services has a 52 week low of $23.77 and a 52 week high of $44.09. The company has a debt-to-equity ratio of 0.47, a quick ratio of 1.75 and a current ratio of 1.78.

Quanta Services (NYSE:PWR) last released its quarterly earnings results on Thursday, May 7th. The construction company reported $0.47 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.46 by $0.01. The company had revenue of $2.76 billion during the quarter, compared to the consensus estimate of $2.74 billion. Quanta Services had a return on equity of 9.72% and a net margin of 2.65%. The firm’s revenue was down 1.5% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.96 EPS. As a group, equities analysts forecast that Quanta Services will post 2.76 earnings per share for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 15th. Investors of record on Wednesday, July 1st will be given a dividend of $0.05 per share. The ex-dividend date of this dividend is Tuesday, June 30th. This represents a $0.20 annualized dividend and a dividend yield of 0.53%. Quanta Services’s dividend payout ratio is presently 6.56%.

In other news, VP Dorothy Upperman sold 5,617 shares of the business’s stock in a transaction on Friday, June 5th. The stock was sold at an average price of $42.00, for a total transaction of $235,914.00. Following the sale, the vice president now directly owns 12,041 shares of the company’s stock, valued at $505,722. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 1.40% of the stock is currently owned by insiders.

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Americana Partners LLC acquired a new position in shares of Quanta Services during the 4th quarter worth about $25,000. Verus Capital Partners LLC bought a new position in Quanta Services in the 4th quarter valued at $59,000. Arden Trust Co bought a new position in Quanta Services in the 1st quarter valued at $63,000. Citizens Financial Group Inc RI boosted its position in Quanta Services by 2,501.3% in the 4th quarter. Citizens Financial Group Inc RI now owns 2,003 shares of the construction company’s stock valued at $82,000 after buying an additional 1,926 shares during the last quarter. Finally, Sunbelt Securities Inc. bought a new position in Quanta Services in the 4th quarter valued at $23,665,000. 92.88% of the stock is owned by institutional investors and hedge funds.

A number of brokerages have recently weighed in on PWR. KeyCorp lifted their price target on Quanta Services from $38.00 to $45.00 and gave the company an “overweight” rating in a report on Tuesday, April 28th. B. Riley lowered their price target on Quanta Services from $43.00 to $42.00 and set a “buy” rating on the stock in a report on Friday, May 8th. Citigroup lowered their price target on Quanta Services from $50.00 to $41.00 and set a “buy” rating on the stock in a report on Wednesday, April 1st. Stifel Nicolaus lifted their price target on Quanta Services from $45.00 to $46.00 and gave the company a “buy” rating in a report on Thursday, May 28th. Finally, UBS Group lowered their price target on Quanta Services from $51.00 to $47.00 and set a “buy” rating on the stock in a report on Thursday, May 28th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and eleven have issued a buy rating to the company’s stock. Quanta Services presently has a consensus rating of “Buy” and a consensus target price of $44.75.

About Quanta Services

Quanta Services, Inc provides specialty contracting services in the United States, Canada, Australia, Latin America, and internationally. Its Electric Power Infrastructure Services segment designs, installs, upgrades, repairs, and maintains electric power transmission and distribution infrastructure, and substation facilities, as well as provides other engineering and technical services; designs, installs, maintains, and repairs commercial and industrial wiring; and operates a postsecondary educational institution.

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