Quanta Services, Inc. (NYSE:PWR) Receives Average Recommendation of “Moderate Buy” from Analysts

Quanta Services, Inc. (NYSE:PWR) has earned a consensus rating of “Moderate Buy” from the eighteen research firms that are presently covering the firm, MarketBeat Ratings reports. Four equities research analysts have rated the stock with a hold recommendation, thirteen have given a buy recommendation and one has issued a strong buy recommendation on the company. The average 12 month price objective among brokers that have issued a report on the stock in the last year is $324.25.

A number of equities analysts have commented 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 target for the company. JPMorgan Chase & Co. initiated coverage on Quanta Services in a research report on Monday, October 7th. They set a “neutral” rating and a $297.00 price target for the company. Northland Securities reiterated an “outperform” rating and issued a $328.00 price objective (up previously 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 stock an “outperform” rating in a research report on Friday, November 1st. Finally, Stifel Nicolaus lifted their target price on shares of Quanta Services from $343.00 to $374.00 and gave the stock a “buy” rating in a report on Wednesday, December 11th.

Quanta Services Price Performance

PWR opened at $314.38 on Tuesday. The company has a market capitalization of $46.41 billion, a price-to-earnings ratio of 58.00 and a beta of 1.06. The company has a quick ratio of 1.19, a current ratio of 1.23 and a debt-to-equity ratio of 0.58. The firm has a 50-day moving average price of $328.26 and a 200-day moving average price of $294.21. Quanta Services has a twelve month low of $187.27 and a twelve month high of $350.19.

Quanta Services (NYSE:PWR) last released its quarterly earnings data on Thursday, October 31st. The construction company reported $2.72 earnings per share for the quarter, beating analysts’ consensus estimates of $2.46 by $0.26. Quanta Services had a net margin of 3.54% and a return on equity of 16.71%. The business had revenue of $6.49 billion during the quarter, compared to analyst estimates of $6.56 billion. During the same period in the previous year, the business earned $2.08 EPS. Quanta Services’s revenue was up 15.5% compared to the same quarter last year. Equities analysts expect that Quanta Services will post 7.9 EPS for the current year.

Quanta Services Increases Dividend

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

Institutional Investors Weigh In On Quanta Services

Several institutional investors have recently bought and sold shares of PWR. State Street Corp grew its holdings in shares of Quanta Services by 1.6% during the third quarter. State Street Corp now owns 5,748,637 shares of the construction company’s stock worth $1,713,956,000 after buying an additional 89,975 shares in the last quarter. Geode Capital Management LLC boosted its position in Quanta Services by 1.4% during the third quarter. Geode Capital Management LLC now owns 3,459,411 shares of the construction company’s stock worth $1,027,887,000 after acquiring an additional 46,357 shares during the last quarter. Electron Capital Partners LLC grew its stake in Quanta Services by 395.1% during the 2nd quarter. Electron Capital Partners LLC now owns 2,622,142 shares of the construction company’s stock valued at $666,260,000 after acquiring an additional 2,092,519 shares in the last quarter. Massachusetts Financial Services Co. MA raised its holdings in Quanta Services by 17.8% in the 2nd quarter. Massachusetts Financial Services Co. MA now owns 1,235,655 shares of the construction company’s stock valued at $313,968,000 after acquiring an additional 186,306 shares during the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its stake in Quanta Services by 4.3% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,060,052 shares of the construction company’s stock worth $316,055,000 after purchasing an additional 43,715 shares in the last quarter. 90.49% of the stock is currently owned by institutional investors and hedge funds.

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.