BMO Capital Markets Begins Coverage on Quanta Services (NYSE:PWR)

BMO Capital Markets initiated coverage on shares of Quanta Services (NYSE:PWR) in a report released on Monday morning, Marketbeat.com reports. The firm issued an outperform rating and a $338.00 target price on the construction company’s stock.

PWR has been the topic of a number of other reports. Bank of America assumed coverage on shares of Quanta Services in a research report on Friday, January 24th. They set a “buy” rating and a $407.00 price objective on the stock. Truist Financial lowered their price objective on shares of Quanta Services from $399.00 to $398.00 and set a “buy” rating for the company in a report on Thursday, January 16th. JPMorgan Chase & Co. upped their target price on Quanta Services from $297.00 to $323.00 and gave the stock a “neutral” rating in a report on Tuesday, January 28th. Northland Securities restated an “outperform” rating and issued a $328.00 target price (up previously from $280.00) on shares of Quanta Services in a research note on Friday, November 1st. Finally, Daiwa Capital Markets initiated coverage on Quanta Services in a research report on Friday, December 6th. They set an “outperform” rating and a $355.00 price objective for the company. Four equities research analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $330.50.

Quanta Services Stock Down 1.8 %

Shares of Quanta Services stock opened at $301.97 on Monday. The company’s 50 day moving average price is $327.77 and its 200-day moving average price is $301.96. Quanta Services has a 52-week low of $200.23 and a 52-week high of $365.88. The stock has a market capitalization of $44.57 billion, a price-to-earnings ratio of 55.71, a P/E/G ratio of 1.54 and a beta of 1.05. The company has a debt-to-equity ratio of 0.58, a quick ratio of 1.19 and a current ratio of 1.23.

Quanta Services Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, January 13th. Stockholders of record on Thursday, January 2nd were paid a $0.10 dividend. This represents a $0.40 annualized dividend and a dividend yield of 0.13%. This is a positive change from Quanta Services’s previous quarterly dividend of $0.09. The ex-dividend date was Thursday, January 2nd. Quanta Services’s dividend payout ratio (DPR) is presently 7.38%.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of PWR. Webster Bank N. A. increased its position in shares of Quanta Services by 4,050.0% during the fourth quarter. Webster Bank N. A. now owns 83 shares of the construction company’s stock worth $26,000 after acquiring an additional 81 shares during the period. Sierra Ocean LLC purchased a new position in Quanta Services during the 4th quarter worth $27,000. Prestige Wealth Management Group LLC bought a new stake in Quanta Services during the 3rd quarter valued at $30,000. Legacy Investment Solutions LLC purchased a new stake in shares of Quanta Services in the 3rd quarter worth $31,000. Finally, Sound Income Strategies LLC increased its stake in shares of Quanta Services by 700.0% during the fourth quarter. Sound Income Strategies LLC now owns 104 shares of the construction company’s stock valued at $33,000 after buying an additional 91 shares during the period. Hedge funds and other institutional investors 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.