Quanta Services, Inc. (NYSE:PWR) Receives $314.27 Consensus PT from Brokerages

Shares of Quanta Services, Inc. (NYSE:PWR) have received an average rating of “Moderate Buy” from the sixteen analysts that are covering the stock, MarketBeat Ratings reports. Four equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. The average 12 month price target among brokerages that have issued a report on the stock in the last year is $314.27.

A number of analysts recently issued reports on the company. TD Cowen boosted their price objective on Quanta Services from $280.00 to $335.00 and gave the company a “buy” rating in a research note on Tuesday, October 15th. Wolfe Research started coverage on shares of Quanta Services in a report on Thursday, September 19th. They issued an “outperform” rating and a $313.00 price target on the stock. Truist Financial boosted their price objective on shares of Quanta Services from $319.00 to $358.00 and gave the company a “buy” rating in a research note on Wednesday, October 9th. B. Riley increased their target price on shares of Quanta Services from $286.00 to $303.00 and gave the stock a “buy” rating in a research note on Friday, August 2nd. Finally, Northland Securities restated an “outperform” rating and set a $328.00 price target (up from $280.00) on shares of Quanta Services in a research report on Friday, November 1st.

Institutional Trading of Quanta Services

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Versor Investments LP bought a new stake in Quanta Services during the 3rd quarter valued at $406,000. Wealth Enhancement Advisory Services LLC raised its stake 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 valued at $9,366,000 after acquiring an additional 1,981 shares during the last quarter. Cetera Investment Advisers boosted its holdings in shares of Quanta Services by 115.0% during the first 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 during the period. Czech National Bank increased its holdings in Quanta Services by 8.9% during 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 raised its position 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 during the last quarter. Institutional investors own 90.49% of the company’s stock.

Quanta Services Trading Down 0.8 %

Shares of Quanta Services stock opened at $343.83 on Monday. The company has a debt-to-equity ratio of 0.58, a quick ratio of 1.19 and a current ratio of 1.23. The stock has a market capitalization of $50.75 billion, a P/E ratio of 63.94 and a beta of 1.01. Quanta Services has a 52-week low of $180.97 and a 52-week high of $350.19. The stock’s 50-day simple moving average is $312.12 and its 200 day simple moving average is $281.41.

Quanta Services (NYSE:PWR) last posted its quarterly earnings results on Thursday, October 31st. The construction company reported $2.72 earnings per share (EPS) for the quarter, beating the consensus estimate 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%. The company’s quarterly revenue was up 15.5% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $2.08 earnings per share. As a group, research analysts anticipate that Quanta Services will post 7.9 EPS for the current year.

Quanta Services Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, January 13th. Shareholders of record on Thursday, January 2nd will be given a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a yield of 0.12%. This is a positive change from Quanta Services’s previous quarterly dividend of $0.09. The ex-dividend date of this dividend is Thursday, January 2nd. Quanta Services’s dividend payout ratio is presently 6.64%.

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.