Quanta Services, Inc. (NYSE:PWR) Receives $268.85 Average Price Target from Analysts

Quanta Services, Inc. (NYSE:PWR) has been given an average rating of “Moderate Buy” by the twelve research firms that are covering the firm, MarketBeat.com reports. Two investment analysts have rated the stock with a hold rating and ten have issued a buy rating on the company. The average 1 year target price among analysts that have issued a report on the stock in the last year is $268.85.

A number of research analysts have commented on PWR shares. The Goldman Sachs Group boosted their price objective on Quanta Services from $259.00 to $286.00 and gave the stock a “buy” rating in a research note on Tuesday, May 28th. Argus boosted their price objective on Quanta Services from $285.00 to $310.00 and gave the stock a “buy” rating in a research note on Thursday, May 30th. DA Davidson boosted their price objective on Quanta Services from $225.00 to $250.00 and gave the stock a “neutral” rating in a research note on Tuesday, May 7th. B. Riley boosted their price objective on Quanta Services from $246.00 to $286.00 and gave the stock a “buy” rating in a research note on Friday, May 3rd. Finally, Citigroup boosted their price objective on Quanta Services from $275.00 to $285.00 and gave the stock a “buy” rating in a research note on Monday, April 22nd.

Quanta Services Price Performance

PWR stock opened at $254.60 on Friday. The stock has a 50-day moving average price of $268.77 and a two-hundred day moving average price of $241.63. Quanta Services has a 12-month low of $153.74 and a 12-month high of $286.87. The company has a current ratio of 1.36, a quick ratio of 1.32 and a debt-to-equity ratio of 0.50. The company has a market cap of $37.27 billion, a PE ratio of 49.34 and a beta of 1.03.

Quanta Services (NYSE:PWR) last posted its quarterly earnings results on Thursday, May 2nd. The construction company reported $1.23 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.09 by $0.14. Quanta Services had a return on equity of 16.25% and a net margin of 3.57%. The firm had revenue of $5.03 billion during the quarter, compared to the consensus estimate of $4.96 billion. As a group, research analysts predict that Quanta Services will post 7.69 EPS for the current year.

Quanta Services Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, July 12th. Investors of record on Monday, July 1st will be issued a $0.09 dividend. This represents a $0.36 annualized dividend and a yield of 0.14%. The ex-dividend date of this dividend is Monday, July 1st. Quanta Services’s dividend payout ratio is currently 6.98%.

Institutional Trading of Quanta Services

Several hedge funds and other institutional investors have recently bought and sold shares of PWR. Qube Research & Technologies Ltd increased its holdings in Quanta Services by 1,494.0% in the third quarter. Qube Research & Technologies Ltd now owns 304,126 shares of the construction company’s stock valued at $56,893,000 after buying an additional 285,047 shares during the last quarter. Bank of Nova Scotia increased its holdings in Quanta Services by 99.3% in the third quarter. Bank of Nova Scotia now owns 23,379 shares of the construction company’s stock valued at $4,374,000 after buying an additional 11,650 shares during the last quarter. Fred Alger Management LLC grew its holdings in shares of Quanta Services by 20.1% during the third quarter. Fred Alger Management LLC now owns 264,937 shares of the construction company’s stock valued at $49,562,000 after purchasing an additional 44,272 shares during the last quarter. Gotham Asset Management LLC grew its holdings in shares of Quanta Services by 40.5% during the third quarter. Gotham Asset Management LLC now owns 8,978 shares of the construction company’s stock valued at $1,680,000 after purchasing an additional 2,588 shares during the last quarter. Finally, AQR Capital Management LLC grew its holdings in shares of Quanta Services by 7.9% during the third quarter. AQR Capital Management LLC now owns 34,368 shares of the construction company’s stock valued at $6,429,000 after purchasing an additional 2,528 shares during the last quarter. 90.49% of the stock is owned by 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.