Brokerages Set Quanta Services, Inc. (NYSE:PWR) Price Target at $324.25

Shares of Quanta Services, Inc. (NYSE:PWR) have been given a consensus recommendation of “Moderate Buy” by the eighteen ratings firms that are currently covering the stock, Marketbeat.com reports. Four equities research analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has issued a strong buy rating on the company. The average 12 month target price among analysts that have issued a report on the stock in the last year is $324.19.

Several equities research analysts have weighed in on PWR shares. Stifel Nicolaus raised their price target on Quanta Services from $343.00 to $374.00 and gave the stock a “buy” rating in a report on Wednesday, December 11th. JPMorgan Chase & Co. started coverage on Quanta Services in a report on Monday, October 7th. They issued a “neutral” rating and a $297.00 price target for the company. Daiwa Capital Markets assumed coverage on Quanta Services in a report on Friday, December 6th. They issued an “outperform” rating and a $355.00 price target for the company. Daiwa America upgraded Quanta Services to a “strong-buy” rating in a research note on Friday, December 6th. Finally, Truist Financial reduced their price objective on Quanta Services from $399.00 to $398.00 and set a “buy” rating for the company in a research note on Thursday, January 16th.

Quanta Services Stock Up 0.3 %

Quanta Services stock opened at $337.10 on Tuesday. The business has a fifty day moving average of $329.50 and a two-hundred day moving average of $297.36. 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 $49.76 billion, a P/E ratio of 62.20 and a beta of 1.06. Quanta Services has a twelve month low of $187.27 and a twelve month high of $350.19.

Quanta Services (NYSE:PWR) last posted 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 company had revenue of $6.49 billion during the quarter, compared to analyst estimates of $6.56 billion. Quanta Services had a return on equity of 16.71% and a net margin of 3.54%. Quanta Services’s revenue was up 15.5% on a year-over-year basis. During the same quarter in the prior year, the business earned $2.08 earnings per share. On average, analysts forecast that Quanta Services will post 7.9 earnings per share for the current fiscal year.

Quanta Services Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, January 13th. Stockholders of record on Thursday, January 2nd were given a $0.10 dividend. The ex-dividend date was Thursday, January 2nd. This is a boost 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 0.12%. Quanta Services’s payout ratio is 7.38%.

Institutional Trading of Quanta Services

A number of institutional investors have recently made changes to their positions in PWR. Prestige Wealth Management Group LLC acquired a new stake in shares of Quanta Services in the third quarter worth approximately $30,000. Legacy Investment Solutions LLC acquired a new position in Quanta Services during the third quarter worth $31,000. Quest Partners LLC acquired a new position in Quanta Services during the second quarter worth $35,000. Versant Capital Management Inc boosted its stake in Quanta Services by 62.5% during the fourth quarter. Versant Capital Management Inc now owns 117 shares of the construction company’s stock worth $37,000 after buying an additional 45 shares during the last quarter. Finally, MidAtlantic Capital Management Inc. acquired a new position in Quanta Services during the third quarter worth $41,000. 90.49% of the stock is owned by institutional investors and hedge funds.

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.