Quanta Services, Inc. (NYSE:PWR) Receives $314.27 Average PT from Analysts

Quanta Services, Inc. (NYSE:PWR) has received a consensus recommendation of “Moderate Buy” from the sixteen brokerages that are currently covering the firm, Marketbeat reports. Four research analysts have rated the stock with a hold rating and twelve have issued a buy rating on the company. The average 12 month price objective among brokers that have updated their coverage on the stock in the last year is $314.27.

A number of brokerages recently weighed in on PWR. UBS Group boosted their price objective on Quanta Services from $313.00 to $367.00 and gave the stock a “buy” rating in a research report on Wednesday, October 23rd. Robert W. Baird upped their price target on shares of Quanta Services from $320.00 to $333.00 and gave the company an “outperform” rating in a research report on Friday, November 1st. Wolfe Research initiated coverage on shares of Quanta Services in a research note on Thursday, September 19th. They issued an “outperform” rating and a $313.00 price objective on the stock. TD Cowen raised their target price on Quanta Services from $280.00 to $335.00 and gave the stock a “buy” rating in a research report on Tuesday, October 15th. Finally, Northland Securities reiterated an “outperform” rating and issued a $328.00 price target (up previously from $280.00) on shares of Quanta Services in a research report on Friday, November 1st.

Institutional Investors Weigh In On Quanta Services

Large investors have recently bought and sold shares of the stock. Versor Investments LP acquired a new stake in shares of Quanta Services in the 3rd quarter valued at about $406,000. Wealth Enhancement Advisory Services LLC raised its position in shares of Quanta Services by 5.7% during the second quarter. Wealth Enhancement Advisory Services LLC now owns 36,862 shares of the construction company’s stock worth $9,366,000 after purchasing an additional 1,981 shares during the period. Cetera Investment Advisers lifted its holdings in shares of Quanta Services by 115.0% in the 1st quarter. Cetera Investment Advisers now owns 39,274 shares of the construction company’s stock worth $10,203,000 after purchasing an additional 21,003 shares in the last quarter. Czech National Bank grew its position in Quanta Services by 8.9% in the 2nd quarter. Czech National Bank now owns 27,827 shares of the construction company’s stock valued at $7,071,000 after purchasing an additional 2,264 shares during the period. Finally, EverSource Wealth Advisors LLC increased its stake in Quanta Services by 892.2% during the 1st quarter. EverSource Wealth Advisors LLC now owns 1,012 shares of the construction company’s stock valued at $262,000 after purchasing an additional 910 shares in the last quarter. 90.49% of the stock is currently owned by institutional investors and hedge funds.

Quanta Services Stock Up 0.2 %

Shares of NYSE PWR opened at $344.52 on Monday. The company has a market cap of $50.86 billion, a price-to-earnings ratio of 63.56 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 $186.18 and a 12 month high of $350.19. The stock has a 50-day moving average price of $314.64 and a two-hundred day moving average price of $282.28.

Quanta Services (NYSE:PWR) last issued its quarterly earnings data on Thursday, October 31st. The construction company reported $2.72 EPS for the quarter, beating the consensus estimate of $2.46 by $0.26. The business had revenue of $6.49 billion during the quarter, compared to the consensus estimate 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 was up 15.5% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $2.08 EPS. As a group, analysts forecast that Quanta Services will post 7.9 earnings per share for the current fiscal year.

Quanta Services Increases Dividend

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

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.