Quanta Services, Inc. (NYSE:PWR) Given Average Recommendation of “Moderate Buy” by Brokerages

Quanta Services, Inc. (NYSE:PWR) has received a consensus recommendation of “Moderate Buy” from the sixteen analysts that are currently covering the company, Marketbeat.com reports. Four analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. The average 1 year target price among brokerages that have covered the stock in the last year is $314.27.

Several research analysts recently weighed in on the company. Northland Securities reissued an “outperform” rating and set a $328.00 price target (up from $280.00) on shares of Quanta Services in a research report on Friday, November 1st. B. Riley upped their target price on Quanta Services from $286.00 to $303.00 and gave the company a “buy” rating in a report on Friday, August 2nd. Robert W. Baird raised their price target on shares of Quanta Services from $320.00 to $333.00 and gave the stock an “outperform” rating in a report on Friday, November 1st. Truist Financial boosted their price objective on shares of Quanta Services from $319.00 to $358.00 and gave the company a “buy” rating in a research report on Wednesday, October 9th. Finally, Stifel Nicolaus increased their target price on shares of Quanta Services from $283.00 to $342.00 and gave the stock a “buy” rating in a research report on Thursday, October 10th.

Institutional Trading of Quanta Services

Institutional investors and hedge funds have recently modified their holdings of the company. EntryPoint Capital LLC bought a new position in Quanta Services in the 1st quarter worth approximately $25,000. Cambridge Trust Co. acquired a new position in shares of Quanta Services in the first quarter valued at $26,000. Prestige Wealth Management Group LLC bought a new position in Quanta Services in the third quarter worth $30,000. Legacy Investment Solutions LLC acquired a new stake in Quanta Services during the third quarter worth $31,000. Finally, Valley Wealth Managers Inc. bought a new stake in Quanta Services in the 2nd quarter valued at $33,000. 90.49% of the stock is currently owned by institutional investors and hedge funds.

Quanta Services Price Performance

PWR stock opened at $341.92 on Monday. The firm has a 50-day moving average of $309.24 and a two-hundred day moving average of $280.37. The firm has a market capitalization of $50.47 billion, a PE ratio of 63.08 and a beta of 1.01. The company has a current ratio of 1.23, a quick ratio of 1.19 and a debt-to-equity ratio of 0.58. Quanta Services has a one year low of $180.97 and a one year high of $343.70.

Quanta Services (NYSE:PWR) last posted its quarterly earnings data on Thursday, October 31st. The construction company reported $2.72 EPS for the quarter, topping analysts’ consensus estimates of $2.46 by $0.26. Quanta Services had a net margin of 3.54% and a return on equity of 16.71%. The firm had revenue of $6.49 billion during the quarter, compared to analyst estimates of $6.56 billion. During the same quarter last year, the business posted $2.08 EPS. The company’s revenue was up 15.5% on a year-over-year basis. On average, analysts forecast that Quanta Services will post 7.88 earnings per share for the current year.

Quanta Services Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, January 13th. Stockholders of record on Thursday, January 2nd will be issued a dividend of $0.10 per share. This is a positive change from Quanta Services’s previous quarterly dividend of $0.09. The ex-dividend date is Thursday, January 2nd. This represents a $0.40 dividend on an annualized basis and a dividend yield of 0.12%. Quanta Services’s dividend payout ratio is currently 6.64%.

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.