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

Shares of Quanta Services, Inc. (NYSE:PWR) have earned an average recommendation of “Moderate Buy” from the eighteen brokerages that are currently covering the stock, MarketBeat reports. Four 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 price target among brokerages that have covered the stock in the last year is $324.19.

Several research firms recently weighed in on PWR. TD Cowen lifted their price objective on Quanta Services from $280.00 to $335.00 and gave the company a “buy” rating in a report on Tuesday, October 15th. Robert W. Baird upped their price objective on shares of Quanta Services from $320.00 to $333.00 and gave the company an “outperform” rating in a report on Friday, November 1st. JPMorgan Chase & Co. assumed coverage on shares of Quanta Services in a report on Monday, October 7th. They set a “neutral” rating and a $297.00 price objective on the stock. UBS Group increased their price target on shares of Quanta Services from $313.00 to $367.00 and gave the stock a “buy” rating in a report on Wednesday, October 23rd. Finally, Stifel Nicolaus upped their price objective on Quanta Services from $343.00 to $374.00 and gave the stock a “buy” rating in a research report on Wednesday, December 11th.

Quanta Services Trading Up 2.0 %

Quanta Services stock opened at $335.92 on Tuesday. The company has a current ratio of 1.23, a quick ratio of 1.19 and a debt-to-equity ratio of 0.58. Quanta Services has a 12-month low of $187.27 and a 12-month high of $350.19. The firm has a 50 day moving average of $329.23 and a 200 day moving average of $295.52. The firm has a market capitalization of $49.59 billion, a price-to-earnings ratio of 61.98 and a beta of 1.06.

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

Quanta Services Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, January 13th. Stockholders of record on Thursday, January 2nd were paid a $0.10 dividend. The ex-dividend date was Thursday, January 2nd. This represents a $0.40 dividend on an annualized basis and a dividend yield of 0.12%. This is a positive change from Quanta Services’s previous quarterly dividend of $0.09. Quanta Services’s dividend payout ratio (DPR) is 7.38%.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the business. Versor Investments LP acquired a new stake in shares of Quanta Services during the 3rd quarter worth approximately $406,000. Principal Financial Group Inc. boosted its position 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 buying an additional 11,012 shares during the period. Asio Capital LLC acquired a new stake in shares of Quanta Services in the third quarter worth $2,715,000. Waverton Investment Management Ltd boosted its position in Quanta Services by 6.5% during the third quarter. Waverton Investment Management Ltd now owns 41,963 shares of the construction company’s stock valued at $12,509,000 after purchasing an additional 2,557 shares during the last quarter. Finally, Synovus Financial Corp boosted its position in Quanta Services by 34.0% during the third quarter. Synovus Financial Corp now owns 7,206 shares of the construction company’s stock valued at $2,148,000 after purchasing an additional 1,830 shares during the last quarter. Hedge funds and other institutional investors own 90.49% of the company’s stock.

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.