Quanta Services, Inc. (NYSE:PWR) Announces $0.09 Quarterly Dividend

Quanta Services, Inc. (NYSE:PWR) announced a quarterly dividend on Thursday, March 28th, RTT News reports. Shareholders of record on Tuesday, April 9th will be given a dividend of 0.09 per share by the construction company on Wednesday, April 17th. This represents a $0.36 dividend on an annualized basis and a yield of 0.14%.

Quanta Services has increased its dividend by an average of 16.3% annually over the last three years and has raised its dividend every year for the last 5 years. Quanta Services has a payout ratio of 3.8% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect Quanta Services to earn $8.74 per share next year, which means the company should continue to be able to cover its $0.36 annual dividend with an expected future payout ratio of 4.1%.

Quanta Services Price Performance

PWR stock traded up $0.05 during mid-day trading on Thursday, reaching $259.80. The company’s stock had a trading volume of 739,039 shares, compared to its average volume of 950,515. The stock has a market cap of $37.87 billion, a PE ratio of 51.84 and a beta of 1.10. The company has a current ratio of 1.47, a quick ratio of 1.44 and a debt-to-equity ratio of 0.58. Quanta Services has a fifty-two week low of $153.74 and a fifty-two week high of $262.01. The company’s 50 day moving average is $224.33 and its two-hundred day moving average is $201.52.

Quanta Services (NYSE:PWR) last announced its quarterly earnings results on Thursday, February 22nd. The construction company reported $2.04 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.83 by $0.21. The business had revenue of $5.78 billion during the quarter, compared to the consensus estimate of $5.19 billion. Quanta Services had a net margin of 3.57% and a return on equity of 16.46%. The business’s revenue was up 31.0% compared to the same quarter last year. During the same quarter last year, the firm earned $1.54 EPS. Equities research analysts expect that Quanta Services will post 7.63 EPS for the current year.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on PWR shares. Stifel Nicolaus increased their price objective on shares of Quanta Services from $237.00 to $252.00 and gave the stock a “buy” rating in a research report on Friday, February 23rd. Truist Financial initiated coverage on shares of Quanta Services in a research report on Thursday, March 14th. They issued a “buy” rating and a $301.00 price target for the company. TD Cowen lifted their price objective on shares of Quanta Services from $205.00 to $270.00 and gave the stock an “outperform” rating in a research report on Tuesday, February 27th. DA Davidson lifted their price objective on shares of Quanta Services from $190.00 to $225.00 and gave the stock a “neutral” rating in a research report on Wednesday, February 28th. Finally, Evercore ISI assumed coverage on shares of Quanta Services in a research report on Tuesday, February 13th. They set an “outperform” rating and a $237.00 price objective for the company. Three equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $239.54.

Insider Buying and Selling at Quanta Services

In other Quanta Services news, EVP Derrick A. Jensen sold 18,500 shares of the company’s stock in a transaction dated Tuesday, February 27th. The shares were sold at an average price of $236.90, for a total value of $4,382,650.00. Following the sale, the executive vice president now owns 263,725 shares of the company’s stock, valued at $62,476,452.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, EVP Derrick A. Jensen sold 18,500 shares of the business’s stock in a transaction that occurred on Tuesday, February 27th. The shares were sold at an average price of $236.90, for a total value of $4,382,650.00. Following the completion of the transaction, the executive vice president now owns 263,725 shares of the company’s stock, valued at $62,476,452.50. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, EVP Donald Wayne sold 8,842 shares of the company’s stock in a transaction that occurred on Monday, March 4th. The stock was sold at an average price of $242.27, for a total transaction of $2,142,151.34. Following the transaction, the executive vice president now directly owns 44,129 shares of the company’s stock, valued at approximately $10,691,132.83. The disclosure for this sale can be found here. Insiders have sold 47,125 shares of company stock valued at $11,270,215 over the last quarter. Corporate insiders own 1.20% of the company’s stock.

Hedge Funds Weigh In On Quanta Services

A number of hedge funds have recently made changes to their positions in the business. Panagora Asset Management Inc. grew its holdings in Quanta Services by 79.1% during the 1st quarter. Panagora Asset Management Inc. now owns 11,464 shares of the construction company’s stock valued at $1,509,000 after purchasing an additional 5,063 shares in the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS grew its holdings in Quanta Services by 6.6% during the 1st quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 19,067 shares of the construction company’s stock worth $2,509,000 after acquiring an additional 1,181 shares in the last quarter. Great West Life Assurance Co. Can grew its holdings in Quanta Services by 2.6% during the 1st quarter. Great West Life Assurance Co. Can now owns 26,648 shares of the construction company’s stock worth $3,655,000 after acquiring an additional 668 shares in the last quarter. Raymond James Trust N.A. grew its holdings in Quanta Services by 8.3% during the 1st quarter. Raymond James Trust N.A. now owns 4,949 shares of the construction company’s stock worth $652,000 after acquiring an additional 379 shares in the last quarter. Finally, Blair William & Co. IL boosted its holdings in shares of Quanta Services by 21.7% in the 1st quarter. Blair William & Co. IL now owns 16,156 shares of the construction company’s stock valued at $2,126,000 after buying an additional 2,884 shares during the period. Hedge funds and other institutional investors own 90.49% of the company’s stock.

Quanta Services Company Profile

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.