Quanta Services, Inc. (NYSE:PWR) Raises Dividend to $0.10 Per Share

Quanta Services, Inc. (NYSE:PWR) announced a quarterly dividend on Thursday, November 21st,RTT News reports. Stockholders of record on Thursday, January 2nd will be paid a dividend of 0.10 per share by the construction company on Monday, January 13th. This represents a $0.40 dividend on an annualized basis and a dividend yield of 0.13%. The ex-dividend date of this dividend is Thursday, January 2nd. This is an increase from Quanta Services’s previous quarterly dividend of $0.09.

Quanta Services has raised its dividend payment by an average of 16.3% per year over the last three years. Quanta Services has a payout ratio of 3.9% meaning its dividend is sufficiently covered by earnings. Analysts expect Quanta Services to earn $9.40 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 4.3%.

Quanta Services Price Performance

NYSE:PWR opened at $318.98 on Tuesday. 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 firm has a market cap of $47.09 billion, a price-to-earnings ratio of 58.85 and a beta of 1.03. Quanta Services has a 52 week low of $187.27 and a 52 week high of $350.19. The firm’s 50-day simple moving average is $326.68 and its 200 day simple moving average is $291.49.

Quanta Services (NYSE:PWR) last issued its quarterly earnings results on Thursday, October 31st. The construction company reported $2.72 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.46 by $0.26. The business had revenue of $6.49 billion for the quarter, compared to the consensus estimate of $6.56 billion. Quanta Services had a return on equity of 16.71% and a net margin of 3.54%. The firm’s quarterly revenue was up 15.5% compared to the same quarter last year. During the same quarter in the prior year, the business posted $2.08 earnings per share. As a group, sell-side analysts predict that Quanta Services will post 7.9 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on the stock. Northland Securities reaffirmed an “outperform” rating and set a $328.00 price objective (up previously from $280.00) on shares of Quanta Services in a research report on Friday, November 1st. Jefferies Financial Group initiated coverage on shares of Quanta Services in a research report on Wednesday, September 4th. They set a “hold” rating and a $256.00 price target on the stock. Robert W. Baird boosted their price objective 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. JPMorgan Chase & Co. assumed coverage on Quanta Services in a report on Monday, October 7th. They issued a “neutral” rating and a $297.00 target price on the stock. Finally, TD Cowen boosted their price target on Quanta Services from $280.00 to $335.00 and gave the stock a “buy” rating in a report on Tuesday, October 15th. Four analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $324.25.

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.