Analysts Set Quanta Services, Inc. (NYSE:PWR) PT at $314.27

Quanta Services, Inc. (NYSE:PWR) has earned an average rating of “Moderate Buy” from the sixteen ratings firms that are currently covering the company, Marketbeat.com reports. Four equities research analysts have rated the stock with a hold recommendation and twelve have assigned a buy recommendation to the company. The average twelve-month price objective among brokers that have covered the stock in the last year is $314.27.

A number of research analysts recently issued reports on the stock. Wolfe Research assumed coverage on shares of Quanta Services in a research report on Thursday, September 19th. They set an “outperform” rating and a $313.00 price target for the company. Truist Financial lifted their target price on shares of Quanta Services from $319.00 to $358.00 and gave the company a “buy” rating in a report on Wednesday, October 9th. Stifel Nicolaus upped their price target on Quanta Services from $283.00 to $342.00 and gave the stock a “buy” rating in a research note on Thursday, October 10th. Citigroup lifted their price objective on Quanta Services from $302.00 to $348.00 and gave the company a “buy” rating in a research note on Friday, October 4th. Finally, Northland Securities reissued an “outperform” rating and issued a $328.00 target price (up from $280.00) on shares of Quanta Services in a research note on Friday, November 1st.

Quanta Services Stock Down 0.8 %

Shares of NYSE PWR opened at $343.83 on Monday. The firm has a fifty day simple moving average of $312.12 and a two-hundred day simple moving average of $281.41. The firm has a market capitalization of $50.75 billion, a PE ratio of 63.94 and a beta of 1.01. 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 $180.97 and a 12 month high of $350.19.

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

Quanta Services Increases Dividend

The business 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. The ex-dividend date is Thursday, January 2nd. This is a positive change from Quanta Services’s previous quarterly dividend of $0.09. This represents a $0.40 dividend on an annualized basis and a dividend yield of 0.12%. Quanta Services’s payout ratio is currently 6.64%.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Versor Investments LP bought a new position in shares of Quanta Services during the 3rd quarter valued at $406,000. Wealth Enhancement Advisory Services LLC grew its stake in shares of Quanta Services by 5.7% during the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 36,862 shares of the construction company’s stock valued at $9,366,000 after purchasing an additional 1,981 shares during the period. Cetera Investment Advisers increased its position in shares of Quanta Services by 115.0% during the 1st quarter. Cetera Investment Advisers now owns 39,274 shares of the construction company’s stock valued at $10,203,000 after purchasing an additional 21,003 shares during the last quarter. Czech National Bank lifted its stake in shares of Quanta Services by 8.9% in the 2nd quarter. Czech National Bank now owns 27,827 shares of the construction company’s stock worth $7,071,000 after purchasing an additional 2,264 shares during the period. Finally, EverSource Wealth Advisors LLC boosted its holdings in shares of Quanta Services by 892.2% in the first quarter. EverSource Wealth Advisors LLC now owns 1,012 shares of the construction company’s stock worth $262,000 after buying an additional 910 shares during the last quarter. 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.