Brokerages Set Quanta Services, Inc. (NYSE:PWR) PT at $330.50

Quanta Services, Inc. (NYSE:PWR) has earned an average recommendation of “Moderate Buy” from the twenty ratings firms that are currently covering the firm, MarketBeat.com reports. Four research analysts have rated the stock with a hold recommendation, fifteen have assigned a buy recommendation and one has issued a strong buy recommendation on the company. The average 1 year price objective among analysts that have issued ratings on the stock in the last year is $330.50.

A number of equities analysts have recently weighed in on PWR shares. Daiwa America raised shares of Quanta Services to a “strong-buy” rating in a research report on Friday, December 6th. Bank of America initiated coverage on Quanta Services in a report on Friday, January 24th. They set a “buy” rating and a $407.00 target price on the stock. TD Cowen increased 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. Daiwa Capital Markets began coverage on Quanta Services in a report on Friday, December 6th. They set an “outperform” rating and a $355.00 price objective on the stock. Finally, Truist Financial lowered their target price on Quanta Services from $399.00 to $398.00 and set a “buy” rating for the company in a research note on Thursday, January 16th.

Institutional Trading of Quanta Services

Several institutional investors and hedge funds have recently bought and sold shares of the business. Diversified Trust Co boosted its holdings in shares of Quanta Services by 5.7% during the 3rd quarter. Diversified Trust Co now owns 948 shares of the construction company’s stock worth $283,000 after buying an additional 51 shares during the period. Mather Group LLC. grew its position in shares of Quanta Services by 31.8% in the third quarter. Mather Group LLC. now owns 916 shares of the construction company’s stock valued at $273,000 after purchasing an additional 221 shares during the last quarter. Atomi Financial Group Inc. bought a new position in shares of Quanta Services during the third quarter worth approximately $220,000. Wedmont Private Capital lifted its holdings in Quanta Services by 9.0% during the 3rd quarter. Wedmont Private Capital now owns 4,895 shares of the construction company’s stock worth $1,505,000 after purchasing an additional 405 shares during the last quarter. Finally, Sanibel Captiva Trust Company Inc. boosted its position in shares of Quanta Services by 156.8% in the third quarter. Sanibel Captiva Trust Company Inc. now owns 7,485 shares of the construction company’s stock valued at $2,232,000 after acquiring an additional 4,570 shares during the period. Institutional investors own 90.49% of the company’s stock.

Quanta Services Stock Performance

Shares of NYSE:PWR opened at $310.83 on Friday. The company has a market capitalization of $45.88 billion, a price-to-earnings ratio of 57.35, a P/E/G ratio of 1.56 and a beta of 1.05. The firm’s 50 day simple moving average is $324.00 and its 200 day simple moving average is $303.66. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.23 and a quick ratio of 1.19. Quanta Services has a fifty-two week low of $205.82 and a fifty-two week high of $365.88.

Quanta Services Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, January 13th. Shareholders of record on Thursday, January 2nd were paid a $0.10 dividend. The ex-dividend date of this dividend was Thursday, January 2nd. This represents a $0.40 dividend on an annualized basis and a yield of 0.13%. This is a boost from Quanta Services’s previous quarterly dividend of $0.09. Quanta Services’s dividend payout ratio (DPR) is currently 7.38%.

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.