Quanta Services Inc (NYSE:PWR) announced a quarterly dividend on Friday, May 29th, RTT News reports. Investors of record on Wednesday, July 1st will be given a dividend of 0.05 per share by the construction company on Wednesday, July 15th. This represents a $0.20 annualized dividend and a yield of 0.52%. The ex-dividend date of this dividend is Tuesday, June 30th.
Quanta Services has a payout ratio of 6.2% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect Quanta Services to earn $3.50 per share next year, which means the company should continue to be able to cover its $0.20 annual dividend with an expected future payout ratio of 5.7%.
Quanta Services stock opened at $38.64 on Monday. The firm has a market cap of $5.32 billion, a price-to-earnings ratio of 17.81, a price-to-earnings-growth ratio of 0.95 and a beta of 1.14. Quanta Services has a 52 week low of $23.77 and a 52 week high of $44.09. The business’s 50-day moving average price is $36.56 and its 200 day moving average price is $36.97. The company has a quick ratio of 1.75, a current ratio of 1.78 and a debt-to-equity ratio of 0.47.
In related news, VP Dorothy Upperman sold 5,617 shares of Quanta Services stock in a transaction that occurred on Friday, June 5th. The stock was sold at an average price of $42.00, for a total transaction of $235,914.00. Following the transaction, the vice president now owns 12,041 shares in the company, valued at $505,722. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Company insiders own 1.40% of the company’s stock.
PWR has been the topic of a number of recent analyst reports. Credit Suisse Group lowered their price target on Quanta Services from $48.00 to $47.00 and set an “outperform” rating on the stock in a research report on Friday, May 8th. Citigroup lowered their price target on Quanta Services from $50.00 to $41.00 and set a “buy” rating on the stock in a research report on Wednesday, April 1st. B. Riley lowered their price target on Quanta Services from $43.00 to $42.00 and set a “buy” rating on the stock in a research report on Friday, May 8th. Stephens increased their price target on Quanta Services from $50.00 to $52.00 and gave the stock an “overweight” rating in a research report on Monday, March 2nd. Finally, UBS Group decreased their target price on Quanta Services from $51.00 to $47.00 and set a “buy” rating on the stock in a research report on Thursday, May 28th. One analyst has rated the stock with a sell rating, one has given a hold rating and eleven have issued a buy rating to the company. Quanta Services has a consensus rating of “Buy” and a consensus price target of $45.08.
About Quanta Services
Quanta Services, Inc provides specialty contracting services in the United States, Canada, Australia, Latin America, and internationally. Its Electric Power Infrastructure Services segment designs, installs, upgrades, repairs, and maintains electric power transmission and distribution infrastructure, and substation facilities, as well as provides other engineering and technical services; designs, installs, maintains, and repairs commercial and industrial wiring; and operates a postsecondary educational institution.
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