Quanta Services, Inc. (NYSE:PWR) Given Average Rating of “Moderate Buy” by Brokerages

Quanta Services, Inc. (NYSE:PWR) has received a consensus rating of “Moderate Buy” from the eighteen ratings firms that are covering the firm, Marketbeat Ratings reports. Four research analysts have rated the stock with a hold recommendation, thirteen have issued a buy recommendation and one has issued a strong buy recommendation on the company. The average 12 month price target among brokerages that have updated their coverage on the stock in the last year is $324.25.

Several research analysts have recently weighed in on the company. Robert W. Baird upped their target price on Quanta Services from $320.00 to $333.00 and gave the stock an “outperform” rating in a research note on Friday, November 1st. Daiwa Capital Markets initiated coverage on shares of Quanta Services in a research report on Friday, December 6th. They set an “outperform” rating and a $355.00 price target for the company. Truist Financial lifted their price objective on Quanta Services from $358.00 to $399.00 and gave the stock a “buy” rating in a report on Thursday. Wolfe Research assumed coverage on Quanta Services in a research report on Thursday, September 19th. They issued an “outperform” rating and a $313.00 target price on the stock. Finally, TD Cowen increased their price objective on Quanta Services from $280.00 to $335.00 and gave the company a “buy” rating in a research note on Tuesday, October 15th.

Quanta Services Price Performance

Shares of NYSE PWR opened at $322.59 on Friday. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.23 and a quick ratio of 1.19. The stock has a market capitalization of $47.62 billion, a price-to-earnings ratio of 59.52 and a beta of 1.03. The firm’s 50 day simple moving average is $324.23 and its 200-day simple moving average is $288.32. Quanta Services has a 12 month low of $187.27 and a 12 month high of $350.19.

Quanta Services (NYSE:PWR) last issued its quarterly earnings data 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. 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 during the quarter, compared to the consensus estimate of $6.56 billion. During the same quarter in the prior year, the firm posted $2.08 earnings per share. The company’s revenue was up 15.5% compared to the same quarter last year. Analysts expect that Quanta Services will post 7.9 EPS for the current year.

Quanta Services Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, January 13th. Stockholders of record on Thursday, January 2nd will be paid a $0.10 dividend. This represents a $0.40 annualized dividend and a dividend yield of 0.12%. The ex-dividend date of this dividend 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 is 7.38%.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the stock. Electron Capital Partners LLC raised its stake in shares of Quanta Services by 395.1% in the 2nd 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. American Century Companies Inc. increased its holdings in Quanta Services by 1,445.3% in the 2nd quarter. American Century Companies Inc. now owns 395,152 shares of the construction company’s stock valued at $100,404,000 after purchasing an additional 369,581 shares during the last quarter. Alkeon Capital Management LLC lifted its stake in Quanta Services by 62.5% during the third quarter. Alkeon Capital Management LLC now owns 650,000 shares of the construction company’s stock worth $193,798,000 after purchasing an additional 250,000 shares in the last quarter. Massachusetts Financial Services Co. MA boosted its position in shares of Quanta Services by 17.8% during 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 period. Finally, National Bank of Canada FI grew its stake in shares of Quanta Services by 297.3% in the second quarter. National Bank of Canada FI now owns 215,914 shares of the construction company’s stock valued at $53,455,000 after buying an additional 161,574 shares in 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.