Quanta Services, Inc. (NYSE:PWR) Receives $330.50 Average Target Price from Analysts

Quanta Services, Inc. (NYSE:PWR) has been assigned an average recommendation of “Moderate Buy” from the twenty ratings firms that are currently covering the company, MarketBeat.com reports. Four analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has given a strong buy rating to the company. The average 12 month target price among brokers that have updated their coverage on the stock in the last year is $330.50.

PWR has been the subject of several research reports. Stifel Nicolaus boosted their price objective on shares of Quanta Services from $374.00 to $388.00 and gave the stock a “buy” rating in a research note on Wednesday, January 22nd. Truist Financial cut their price objective on Quanta Services from $399.00 to $398.00 and set a “buy” rating on the stock in a research report on Thursday, January 16th. BMO Capital Markets started coverage on Quanta Services in a research report on Monday, February 3rd. They issued an “outperform” rating and a $338.00 target price for the company. UBS Group raised their target price on Quanta Services from $313.00 to $367.00 and gave the company a “buy” rating in a report on Wednesday, October 23rd. Finally, Citigroup lowered their price objective on shares of Quanta Services from $394.00 to $371.00 and set a “buy” rating for the company in a research report on Wednesday, January 29th.

Hedge Funds Weigh In On Quanta Services

A number of hedge funds have recently added to or reduced their stakes in the business. Webster Bank N. A. grew its position in shares of Quanta Services by 4,050.0% during the 4th quarter. Webster Bank N. A. now owns 83 shares of the construction company’s stock valued at $26,000 after buying an additional 81 shares during the last quarter. Quarry LP bought a new position in shares of Quanta Services during the fourth quarter valued at approximately $26,000. Sierra Ocean LLC acquired a new stake in shares of Quanta Services during the 4th quarter worth approximately $27,000. Prestige Wealth Management Group LLC acquired a new position in Quanta Services during the 3rd quarter valued at approximately $30,000. Finally, Legacy Investment Solutions LLC bought a new position in Quanta Services during the 3rd quarter worth $31,000. Institutional investors and hedge funds own 90.49% of the company’s stock.

Quanta Services Stock Performance

NYSE PWR opened at $285.13 on Friday. The business’s 50-day simple moving average is $320.72 and its 200-day simple moving average is $304.05. The firm has a market capitalization of $42.09 billion, a P/E ratio of 52.61, a P/E/G ratio of 1.56 and a beta of 1.05. Quanta Services has a 1-year low of $206.58 and a 1-year high of $365.88. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.23 and a quick ratio of 1.19.

Quanta Services Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, January 13th. Investors of record on Thursday, January 2nd were given a dividend of $0.10 per share. This is a positive change from Quanta Services’s previous quarterly dividend of $0.09. This represents a $0.40 annualized dividend and a dividend yield of 0.14%. The ex-dividend date was Thursday, January 2nd. Quanta Services’s dividend payout ratio is currently 7.38%.

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.