Quanta Services Director Unloads $141,520 in Stock (PWR)
Quanta Services (NYSE:PWR) Director Bernard Fried sold 4,000 shares of Quanta Services stock on the open market in a transaction dated Tuesday, August 19th. The stock was sold at an average price of $35.38, for a total value of $141,520.00. Following the sale, the director now directly owns 8,953 shares in the company, valued at approximately $316,757. The transaction was disclosed in a legal filing with the SEC, which is available at this link.
Several analysts have recently commented on the stock. Analysts at Robert W. Baird upgraded shares of Quanta Services from a “neutral” rating to an “outperform” rating in a research note on Friday, August 1st. They now have a $40.00 price target on the stock, down previously from $41.00. Analysts at Global Hunter Securities initiated coverage on shares of Quanta Services in a research note on Thursday, June 19th. They set a “buy” rating and a $41.00 price target on the stock. One investment analyst has rated the stock with a hold rating and six have issued a buy rating to the company. The stock presently has an average rating of “Buy” and a consensus price target of $37.33.
Shares of Quanta Services (NYSE:PWR) traded down 0.62% during mid-day trading on Wednesday, hitting $35.10. 721,360 shares of the company’s stock traded hands. Quanta Services has a 1-year low of $25.57 and a 1-year high of $37.42. The stock’s 50-day moving average is $34.70 and its 200-day moving average is $34.56. The company has a market cap of $7.610 billion and a price-to-earnings ratio of 19.48.
Quanta Services (NYSE:PWR) last posted its quarterly earnings results on Thursday, July 31st. The company reported $0.43 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.41 by $0.02. The company had revenue of $1.80 billion for the quarter, compared to the consensus estimate of $1.80 billion. During the same quarter in the previous year, the company posted $0.38 earnings per share. The company’s revenue for the quarter was up 26.5% on a year-over-year basis. On average, analysts predict that Quanta Services will post $1.99 earnings per share for the current fiscal year.
Quanta Services, Inc (NYSE:PWR) is a provider of specialty contracting services, offering infrastructure solutions primarily to the electric power and natural gas and oil pipeline industries.
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