Quanta Services, Inc. (NYSE:PWR) Receives $324.25 Consensus Target Price from Analysts

Shares of Quanta Services, Inc. (NYSE:PWR) have received an average recommendation of “Moderate Buy” from the eighteen analysts that are presently covering the stock, MarketBeat Ratings reports. Four investment analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has given a strong buy rating to the company. The average 12 month target price among brokerages that have updated their coverage on the stock in the last year is $324.25.

A number of analysts have recently weighed in on the stock. Daiwa Capital Markets started coverage on shares of Quanta Services in a research note on Friday, December 6th. They issued an “outperform” rating and a $355.00 price objective on the stock. Northland Securities reaffirmed an “outperform” rating and set a $328.00 target price (up from $280.00) on shares of Quanta Services in a report on Friday, November 1st. Robert W. Baird boosted their price target on Quanta Services from $320.00 to $333.00 and gave the company an “outperform” rating in a report on Friday, November 1st. Citigroup lifted their target price on shares of Quanta Services from $348.00 to $394.00 and gave the company a “buy” rating in a report on Monday, December 9th. Finally, Daiwa America raised shares of Quanta Services to a “strong-buy” rating in a report on Friday, December 6th.

Institutional Trading of Quanta Services

Several large investors have recently bought and sold shares of PWR. Fifth Third Bancorp boosted its position in shares of Quanta Services by 9.7% during the 2nd quarter. Fifth Third Bancorp now owns 4,953 shares of the construction company’s stock valued at $1,259,000 after acquiring an additional 436 shares during the last quarter. Diversified LLC raised its position in shares of Quanta Services by 21.2% during the 2nd quarter. Diversified LLC now owns 1,099 shares of the construction company’s stock valued at $279,000 after buying an additional 192 shares during the period. Quotient Wealth Partners LLC lifted its holdings in Quanta Services by 5.8% in the second quarter. Quotient Wealth Partners LLC now owns 1,244 shares of the construction company’s stock valued at $316,000 after acquiring an additional 68 shares during the last quarter. Retirement Systems of Alabama grew its position in Quanta Services by 0.7% in the second quarter. Retirement Systems of Alabama now owns 32,292 shares of the construction company’s stock worth $8,205,000 after acquiring an additional 225 shares during the period. Finally, Family Firm Inc. acquired a new stake in Quanta Services during the second quarter worth $167,000. Hedge funds and other institutional investors own 90.49% of the company’s stock.

Quanta Services Trading Up 1.8 %

NYSE:PWR opened at $328.41 on Friday. The firm has a fifty day simple moving average of $324.92 and a 200-day simple moving average of $289.17. Quanta Services has a 12 month low of $187.27 and a 12 month high of $350.19. The company has a current ratio of 1.23, a quick ratio of 1.19 and a debt-to-equity ratio of 0.58. The company has a market capitalization of $48.48 billion, a P/E ratio of 60.59 and a beta of 1.03.

Quanta Services (NYSE:PWR) last released its 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. Quanta Services had a return on equity of 16.71% and a net margin of 3.54%. The firm had revenue of $6.49 billion during the quarter, compared to the consensus estimate of $6.56 billion. During the same quarter in the previous year, the company posted $2.08 earnings per share. The company’s revenue was up 15.5% compared to the same quarter last year. On average, equities research analysts anticipate that Quanta Services will post 7.9 earnings per share for the current year.

Quanta Services Increases Dividend

The firm also recently announced 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 a positive change from Quanta Services’s previous quarterly dividend of $0.09. The ex-dividend date is Thursday, January 2nd. This represents a $0.40 dividend on an annualized basis and a dividend yield of 0.12%. Quanta Services’s dividend payout ratio is presently 7.38%.

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.