Quanta Services, Inc. (NYSE:PWR) Receives Average Recommendation of “Moderate Buy” from Analysts

Shares of Quanta Services, Inc. (NYSE:PWR) have earned an average rating of “Moderate Buy” from the eighteen ratings firms that are presently covering the stock, Marketbeat reports. Four investment 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 twelve-month price objective among analysts that have issued ratings on the stock in the last year is $324.25.

Several equities research analysts have recently weighed in on the company. Wolfe Research assumed coverage on Quanta Services in a research note on Thursday, September 19th. They issued an “outperform” rating and a $313.00 price target for the company. Robert W. Baird raised their price target 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. JPMorgan Chase & Co. began coverage on shares of Quanta Services in a research note on Monday, October 7th. They issued a “neutral” rating and a $297.00 price objective on the stock. TD Cowen lifted their target price on shares of Quanta Services from $280.00 to $335.00 and gave the stock a “buy” rating in a research note on Tuesday, October 15th. Finally, Jefferies Financial Group initiated coverage on shares of Quanta Services in a research report on Wednesday, September 4th. They set a “hold” rating and a $256.00 price target on the stock.

Quanta Services Stock Down 0.1 %

NYSE:PWR opened at $330.62 on Friday. Quanta Services has a one year low of $187.27 and a one year high of $350.19. 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 company has a market cap of $48.80 billion, a PE ratio of 61.00 and a beta of 1.03. The firm’s 50 day simple moving average is $326.13 and its 200 day simple moving average is $290.31.

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 analysts’ consensus estimates of $2.46 by $0.26. The company had revenue of $6.49 billion for 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%. Quanta Services’s revenue was up 15.5% compared to the same quarter last year. During the same quarter in the previous year, the business earned $2.08 earnings per share. On average, research analysts anticipate that Quanta Services will post 7.9 earnings per share for the current year.

Quanta Services Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, January 13th. Stockholders of record on Thursday, January 2nd will be issued a dividend of $0.10 per share. This is an increase from Quanta Services’s previous quarterly dividend of $0.09. The ex-dividend date is Thursday, January 2nd. This represents a $0.40 annualized dividend and a dividend yield of 0.12%. Quanta Services’s payout ratio is currently 7.38%.

Institutional Trading of Quanta Services

Several hedge funds have recently bought and sold shares of PWR. Electron Capital Partners LLC grew its holdings 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 buying an additional 2,092,519 shares during the last quarter. American Century Companies Inc. boosted its stake in Quanta Services by 1,445.3% during 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 increased its holdings in Quanta Services by 62.5% during the 3rd 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 raised its stake in shares of 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 purchasing an additional 186,306 shares during the last quarter. Finally, National Bank of Canada FI lifted its holdings 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 purchasing 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.