Quanta Services (NYSE:PWR) Receives “Neutral” Rating from B. Riley

B. Riley reaffirmed their neutral rating on shares of Quanta Services (NYSE:PWR) in a research note issued to investors on Wednesday morning, MarketBeat Ratings reports. The brokerage currently has a $300.00 target price on the construction company’s stock, down from their previous target price of $343.00.

A number of other analysts have also recently commented on PWR. Daiwa America cut shares of Quanta Services from a “strong-buy” rating to a “hold” rating in a research note on Monday, February 24th. Truist Financial cut their target price on Quanta Services from $399.00 to $398.00 and set a “buy” rating for the company in a research report on Thursday, January 16th. Bank of America began coverage on Quanta Services in a research note on Friday, January 24th. They issued a “buy” rating and a $407.00 price target for the company. Roth Mkm began coverage on shares of Quanta Services in a research report on Friday, February 21st. They set a “buy” rating and a $350.00 price target on the stock. Finally, Roth Capital upgraded shares of Quanta Services to a “strong-buy” rating in a research report on Thursday, February 20th. Seven equities research analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $326.79.

Quanta Services Price Performance

NYSE:PWR opened at $268.43 on Wednesday. Quanta Services has a one year low of $227.11 and a one year high of $365.88. The stock has a market cap of $39.78 billion, a P/E ratio of 44.52, a PEG ratio of 1.41 and a beta of 1.10. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.30 and a quick ratio of 1.19. The company has a fifty day moving average price of $289.30 and a 200 day moving average price of $303.94.

Quanta Services (NYSE:PWR) last released its earnings results on Thursday, February 20th. The construction company reported $2.74 earnings per share for the quarter, beating the consensus estimate of $2.62 by $0.12. Quanta Services had a return on equity of 18.00% and a net margin of 3.82%. The firm had revenue of $6.55 billion for the quarter, compared to analyst estimates of $6.61 billion. Analysts anticipate that Quanta Services will post 9.34 earnings per share for the current year.

Quanta Services Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, April 11th. Shareholders of record on Thursday, April 3rd will be given a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a dividend yield of 0.15%. Quanta Services’s dividend payout ratio (DPR) is presently 6.63%.

Hedge Funds Weigh In On Quanta Services

Hedge funds have recently made changes to their positions in the stock. Swedbank AB lifted its position in shares of Quanta Services by 4.6% in the 3rd quarter. Swedbank AB now owns 960,081 shares of the construction company’s stock worth $286,248,000 after purchasing an additional 42,579 shares during the period. Oppenheimer Asset Management Inc. lifted its holdings in Quanta Services by 8.4% in the third quarter. Oppenheimer Asset Management Inc. now owns 1,361 shares of the construction company’s stock valued at $406,000 after buying an additional 106 shares during the period. Empowered Funds LLC boosted its position in Quanta Services by 7.4% during the third quarter. Empowered Funds LLC now owns 2,679 shares of the construction company’s stock valued at $799,000 after acquiring an additional 185 shares during the last quarter. MAI Capital Management grew its holdings in Quanta Services by 34.0% during the 3rd quarter. MAI Capital Management now owns 7,160 shares of the construction company’s stock worth $2,135,000 after acquiring an additional 1,816 shares during the period. Finally, Meeder Advisory Services Inc. raised its position in shares of Quanta Services by 27.6% in the 3rd quarter. Meeder Advisory Services Inc. now owns 3,085 shares of the construction company’s stock worth $920,000 after acquiring an additional 667 shares in the last quarter. 90.49% of the stock is currently owned by institutional investors.

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.