Quanta Services (NYSE:PWR) Now Covered by Guggenheim

Guggenheim initiated coverage on shares of Quanta Services (NYSE:PWR) in a report released on Wednesday, Marketbeat Ratings reports. The brokerage issued a neutral rating on the construction company’s stock.

A number of other research firms also recently commented on PWR. JPMorgan Chase & Co. began coverage on shares of Quanta Services in a report on Monday, October 7th. They set a “neutral” rating and a $297.00 price objective for the company. Daiwa Capital Markets initiated coverage on shares of Quanta Services in a research note on Friday, December 6th. They issued an “outperform” rating and a $355.00 target price for the company. Daiwa America raised shares of Quanta Services to a “strong-buy” rating in a research note on Friday, December 6th. Wolfe Research began coverage on shares of Quanta Services in a research report on Thursday, September 19th. They set an “outperform” rating and a $313.00 price target for the company. Finally, Citigroup boosted their price objective on shares of Quanta Services from $348.00 to $394.00 and gave the company a “buy” rating in a report on Monday, December 9th. Five research analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, Quanta Services has an average rating of “Moderate Buy” and a consensus target price of $324.25.

Quanta Services Price Performance

PWR opened at $311.97 on Wednesday. Quanta Services has a fifty-two week low of $187.27 and a fifty-two week high of $350.19. The company has a quick ratio of 1.19, a current ratio of 1.23 and a debt-to-equity ratio of 0.58. The firm has a market cap of $46.05 billion, a price-to-earnings ratio of 57.56 and a beta of 1.06. The company’s 50-day moving average price is $327.84 and its 200 day moving average price is $293.33.

Quanta Services (NYSE:PWR) last issued its earnings results on Thursday, October 31st. The construction company reported $2.72 earnings per share for the quarter, topping analysts’ consensus estimates of $2.46 by $0.26. The firm had revenue of $6.49 billion during the quarter, compared to analysts’ expectations of $6.56 billion. Quanta Services had a net margin of 3.54% and a return on equity of 16.71%. The firm’s revenue for the quarter was up 15.5% compared to the same quarter last year. During the same period last year, the firm posted $2.08 earnings per share. As a group, sell-side analysts expect that Quanta Services will post 7.9 earnings per share for the current year.

Quanta Services Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, January 13th. Stockholders of record on Thursday, January 2nd will be issued a $0.10 dividend. The ex-dividend date is Thursday, January 2nd. This is an increase from Quanta Services’s previous quarterly dividend of $0.09. This represents a $0.40 dividend on an annualized basis and a dividend yield of 0.13%. Quanta Services’s payout ratio is 7.38%.

Institutional Investors Weigh In On Quanta Services

Several large investors have recently added to or reduced their stakes in PWR. Versor Investments LP purchased a new stake in Quanta Services during the third quarter valued at approximately $406,000. Principal Financial Group Inc. increased its stake in shares of Quanta Services by 5.6% in the third quarter. Principal Financial Group Inc. now owns 207,720 shares of the construction company’s stock worth $61,932,000 after acquiring an additional 11,012 shares during the period. Asio Capital LLC acquired a new stake in Quanta Services during the third quarter valued at $2,715,000. Waverton Investment Management Ltd increased its holdings in Quanta Services by 6.5% in the third quarter. Waverton Investment Management Ltd now owns 41,963 shares of the construction company’s stock valued at $12,509,000 after buying an additional 2,557 shares in the last quarter. Finally, Public Sector Pension Investment Board increased its holdings in Quanta Services by 4,701.7% in the second quarter. Public Sector Pension Investment Board now owns 153,559 shares of the construction company’s stock valued at $39,018,000 after buying an additional 150,361 shares in the last quarter. 90.49% of the stock is owned by hedge funds and other institutional investors.

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.