Quanta Services, Inc. (NYSE:PWR) Receives $314.27 Average PT from Brokerages

Shares of Quanta Services, Inc. (NYSE:PWR) have been given a consensus rating of “Moderate Buy” by the sixteen brokerages that are currently covering the firm, MarketBeat reports. Four equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. The average 12 month target price among brokers that have issued a report on the stock in the last year is $314.27.

PWR has been the topic of a number of recent research reports. Robert W. Baird raised their target price on shares of Quanta Services from $320.00 to $333.00 and gave the stock an “outperform” rating in a report on Friday, November 1st. Northland Securities reissued an “outperform” rating and issued a $328.00 target price (up previously from $280.00) on shares of Quanta Services in a report on Friday, November 1st. TD Cowen raised their target price on shares of Quanta Services from $280.00 to $335.00 and gave the stock a “buy” rating in a report on Tuesday, October 15th. Wolfe Research initiated coverage on shares of Quanta Services in a report on Thursday, September 19th. They issued an “outperform” rating and a $313.00 target price on the stock. Finally, Truist Financial raised their target price on shares of Quanta Services from $319.00 to $358.00 and gave the stock a “buy” rating in a report on Wednesday, October 9th.

Quanta Services Stock Performance

Shares of PWR stock opened at $344.52 on Monday. The company has a debt-to-equity ratio of 0.58, a quick ratio of 1.19 and a current ratio of 1.23. Quanta Services has a one year low of $186.18 and a one year high of $350.19. The company’s 50-day simple moving average is $315.72 and its 200-day simple moving average is $282.96. The stock has a market capitalization of $50.85 billion, a price-to-earnings ratio of 63.56 and a beta of 1.01.

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

Quanta Services Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, January 13th. Investors of record on Thursday, January 2nd will be paid a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a dividend yield of 0.12%. The ex-dividend date is Thursday, January 2nd. This is a positive change from Quanta Services’s previous quarterly dividend of $0.09. Quanta Services’s dividend payout ratio (DPR) is currently 6.64%.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in PWR. Electron Capital Partners LLC increased its stake in shares of Quanta Services by 395.1% during the second quarter. Electron Capital Partners LLC now owns 2,622,142 shares of the construction company’s stock valued at $666,260,000 after acquiring an additional 2,092,519 shares during the period. Swedbank AB acquired a new position in Quanta Services in the first quarter worth approximately $227,218,000. American Century Companies Inc. grew its position in Quanta Services by 1,445.3% in the second quarter. American Century Companies Inc. now owns 395,152 shares of the construction company’s stock worth $100,404,000 after buying an additional 369,581 shares during the last quarter. Alkeon Capital Management LLC grew its position in Quanta Services by 62.5% in the third quarter. Alkeon Capital Management LLC now owns 650,000 shares of the construction company’s stock worth $193,798,000 after buying an additional 250,000 shares during the last quarter. Finally, Massachusetts Financial Services Co. MA grew its position in Quanta Services by 17.8% in the second quarter. Massachusetts Financial Services Co. MA now owns 1,235,655 shares of the construction company’s stock worth $313,968,000 after buying an additional 186,306 shares during the last quarter. Institutional investors and hedge funds 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.