Quanta Services (NYSE:PWR) Price Target Raised to $323.00

Quanta Services (NYSE:PWRFree Report) had its target price hoisted by JPMorgan Chase & Co. from $297.00 to $323.00 in a research report report published on Tuesday morning,Benzinga reports. They currently have a neutral rating on the construction company’s stock.

Other research analysts have also recently issued research reports about the company. Citigroup increased their price objective on Quanta Services from $348.00 to $394.00 and gave the stock a “buy” rating in a research note on Monday, December 9th. Guggenheim began coverage on Quanta Services in a research note on Wednesday, January 8th. They set a “neutral” rating on the stock. Daiwa America raised shares of Quanta Services to a “strong-buy” rating in a research note on Friday, December 6th. Truist Financial cut their target price on shares of Quanta Services from $399.00 to $398.00 and set a “buy” rating on the stock in a research report on Thursday, January 16th. Finally, Bank of America initiated coverage on shares of Quanta Services in a research report on Friday, January 24th. They issued a “buy” rating and a $407.00 price target for the company. Four research analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $330.06.

Get Our Latest Stock Analysis on Quanta Services

Quanta Services Trading Up 3.9 %

Shares of NYSE PWR opened at $309.52 on Tuesday. Quanta Services has a fifty-two week low of $193.52 and a fifty-two week high of $365.88. The company has a debt-to-equity ratio of 0.58, a quick ratio of 1.19 and a current ratio of 1.23. The company has a market cap of $45.69 billion, a price-to-earnings ratio of 57.11 and a beta of 1.06. The business’s 50 day moving average price is $329.27 and its 200-day moving average price is $300.65.

Quanta Services (NYSE:PWRGet Free Report) last announced its quarterly earnings data on Thursday, October 31st. The construction company reported $2.72 earnings per share for the quarter, beating 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 net margin of 3.54% and a return on equity of 16.71%. The firm’s revenue for the quarter was up 15.5% on a year-over-year basis. During the same quarter last year, the business posted $2.08 EPS. On average, sell-side analysts expect that Quanta Services will post 7.9 earnings per share for the current year.

Quanta Services Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, January 13th. Shareholders of record on Thursday, January 2nd were issued a $0.10 dividend. This represents a $0.40 annualized dividend and a yield of 0.13%. The ex-dividend date was Thursday, January 2nd. This is an increase from Quanta Services’s previous quarterly dividend of $0.09. Quanta Services’s dividend payout ratio (DPR) is currently 7.38%.

Hedge Funds Weigh In On Quanta Services

Several hedge funds and other institutional investors have recently modified their holdings of PWR. Webster Bank N. A. increased its stake in Quanta Services by 4,050.0% during the 4th quarter. Webster Bank N. A. now owns 83 shares of the construction company’s stock valued at $26,000 after purchasing an additional 81 shares in the last quarter. Prestige Wealth Management Group LLC acquired a new position in shares of Quanta Services in the 3rd quarter valued at $30,000. Legacy Investment Solutions LLC purchased a new position in Quanta Services in the 3rd quarter worth $31,000. Sound Income Strategies LLC lifted its position in Quanta Services by 700.0% during the 4th quarter. Sound Income Strategies LLC now owns 104 shares of the construction company’s stock worth $33,000 after acquiring an additional 91 shares during the period. Finally, Versant Capital Management Inc grew its stake in Quanta Services by 62.5% during the 4th quarter. Versant Capital Management Inc now owns 117 shares of the construction company’s stock valued at $37,000 after purchasing an additional 45 shares during the last quarter. 90.49% of the stock is owned by hedge funds and other institutional investors.

Quanta Services Company Profile

(Get Free Report)

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.

Further Reading

Analyst Recommendations for Quanta Services (NYSE:PWR)

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