Quanta Services, Inc. to Issue Quarterly Dividend of $0.10 (NYSE:PWR)

Quanta Services, Inc. (NYSE:PWR) announced a quarterly dividend on Friday, March 21st, RTT News reports. Shareholders of record on Thursday, April 3rd will be given a dividend of 0.10 per share by the construction company on Friday, April 11th. This represents a $0.40 annualized dividend and a yield of 0.15%.

Quanta Services has increased its dividend by an average of 14.0% per year over the last three years. Quanta Services has a dividend payout ratio of 3.4% indicating that its dividend is sufficiently covered by earnings. Research analysts expect Quanta Services to earn $10.38 per share next year, which means the company should continue to be able to cover its $0.40 annual dividend with an expected future payout ratio of 3.9%.

Quanta Services Stock Performance

Shares of NYSE PWR traded down $2.67 during midday trading on Friday, hitting $268.43. The company’s stock had a trading volume of 1,605,551 shares, compared to its average volume of 1,756,605. The stock has a fifty day moving average price of $290.21 and a 200 day moving average price of $303.99. The firm has a market capitalization of $39.78 billion, a price-to-earnings ratio of 44.52, a P/E/G ratio of 1.41 and a beta of 1.10. Quanta Services has a one year low of $227.11 and a one year high of $365.88. The company has a current ratio of 1.30, a quick ratio of 1.19 and a debt-to-equity ratio of 0.56.

Quanta Services (NYSE:PWR) last posted its quarterly earnings results on Thursday, February 20th. The construction company reported $2.74 EPS for the quarter, topping analysts’ consensus estimates 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 during the quarter, compared to analyst estimates of $6.61 billion. On average, research analysts forecast that Quanta Services will post 9.34 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

PWR has been the topic of a number of recent analyst reports. Citigroup lowered their price target on shares of Quanta Services from $394.00 to $371.00 and set a “buy” rating on the stock in a report on Wednesday, January 29th. Daiwa America downgraded shares of Quanta Services from a “strong-buy” rating to a “hold” rating in a report on Monday, February 24th. BMO Capital Markets raised shares of Quanta Services from a “market perform” rating to an “outperform” rating and decreased their price target for the stock from $338.00 to $316.00 in a report on Tuesday, February 25th. Daiwa Capital Markets lowered Quanta Services from an “outperform” rating to a “neutral” rating in a research note on Monday, February 24th. Finally, Truist Financial decreased their target price on Quanta Services from $399.00 to $398.00 and set a “buy” rating on the stock in a research note on Thursday, January 16th. Seven investment analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $326.79.

Hedge Funds Weigh In On Quanta Services

An institutional investor recently bought a new position in Quanta Services stock. Brighton Jones LLC acquired a new position in Quanta Services, Inc. (NYSE:PWR) in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm acquired 943 shares of the construction company’s stock, valued at approximately $298,000. 90.49% of the stock is currently owned by hedge funds and other institutional investors.

About Quanta Services

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.