Quanta Services, Inc. (NYSE:PWR) to Issue Quarterly Dividend of $0.09

Quanta Services, Inc. (NYSE:PWR) announced a quarterly dividend on Thursday, March 28th, RTT News reports. Stockholders of record on Tuesday, April 9th will be given a dividend of 0.09 per share by the construction company on Wednesday, April 17th. This represents a $0.36 dividend on an annualized basis and a dividend yield of 0.14%.

Quanta Services has raised its dividend by an average of 16.3% per year over the last three years and has raised its dividend every year for the last 5 years. Quanta Services has a payout ratio of 3.8% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect Quanta Services to earn $8.74 per share next year, which means the company should continue to be able to cover its $0.36 annual dividend with an expected future payout ratio of 4.1%.

Quanta Services Stock Up 0.0 %

Shares of PWR stock traded up $0.05 on Thursday, reaching $259.80. 739,039 shares of the company’s stock traded hands, compared to its average volume of 950,515. Quanta Services has a 12-month low of $153.74 and a 12-month high of $262.01. The company has a debt-to-equity ratio of 0.58, a quick ratio of 1.44 and a current ratio of 1.47. The company has a market capitalization of $37.87 billion, a P/E ratio of 51.84 and a beta of 1.10. The business’s 50 day moving average price is $224.33 and its two-hundred day moving average price is $201.52.

Quanta Services (NYSE:PWR) last released its quarterly earnings results on Thursday, February 22nd. The construction company reported $2.04 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.83 by $0.21. Quanta Services had a return on equity of 16.46% and a net margin of 3.57%. The company had revenue of $5.78 billion during the quarter, compared to the consensus estimate of $5.19 billion. During the same quarter in the prior year, the company posted $1.54 EPS. The firm’s revenue was up 31.0% on a year-over-year basis. On average, equities analysts forecast that Quanta Services will post 7.63 earnings per share for the current year.

Insider Activity

In related news, Director Worthing Jackman sold 9,572 shares of Quanta Services stock in a transaction dated Wednesday, February 28th. The stock was sold at an average price of $237.31, for a total transaction of $2,271,531.32. Following the completion of the transaction, the director now owns 7,486 shares in the company, valued at $1,776,502.66. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, Director Worthing Jackman sold 9,572 shares of the business’s stock in a transaction that occurred on Wednesday, February 28th. The stock was sold at an average price of $237.31, for a total transaction of $2,271,531.32. Following the completion of the sale, the director now owns 7,486 shares in the company, valued at $1,776,502.66. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, EVP Donald Wayne sold 595 shares of Quanta Services stock in a transaction that occurred on Tuesday, March 12th. The shares were sold at an average price of $239.61, for a total transaction of $142,567.95. Following the completion of the sale, the executive vice president now owns 41,954 shares of the company’s stock, valued at $10,052,597.94. The disclosure for this sale can be found here. Insiders sold 47,125 shares of company stock worth $11,270,215 in the last quarter. Corporate insiders own 1.20% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the stock. ICA Group Wealth Management LLC bought a new stake in shares of Quanta Services in the fourth quarter worth $26,000. Coppell Advisory Solutions Corp. bought a new stake in shares of Quanta Services in the fourth quarter worth $28,000. Harbour Investments Inc. boosted its position in Quanta Services by 97.4% during the fourth quarter. Harbour Investments Inc. now owns 300 shares of the construction company’s stock valued at $43,000 after acquiring an additional 148 shares during the last quarter. Sunbelt Securities Inc. bought a new stake in Quanta Services during the first quarter valued at $62,000. Finally, Belpointe Asset Management LLC boosted its position in Quanta Services by 23.6% during the first quarter. Belpointe Asset Management LLC now owns 403 shares of the construction company’s stock valued at $67,000 after acquiring an additional 77 shares during the last quarter. 90.49% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

PWR has been the subject of a number of recent research reports. Citigroup increased their target price on Quanta Services from $234.00 to $237.00 and gave the stock a “buy” rating in a report on Friday, January 26th. The Goldman Sachs Group increased their price target on Quanta Services from $227.00 to $259.00 and gave the stock a “buy” rating in a research report on Monday, February 26th. Evercore ISI began coverage on Quanta Services in a research report on Tuesday, February 13th. They issued an “outperform” rating and a $237.00 price objective on the stock. DA Davidson increased their price objective on Quanta Services from $190.00 to $225.00 and gave the company a “neutral” rating in a research report on Wednesday, February 28th. Finally, KeyCorp assumed coverage on Quanta Services in a research report on Wednesday, January 10th. They issued a “sector weight” rating on the stock. Three research analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. According to MarketBeat.com, Quanta Services has a consensus rating of “Moderate Buy” and an average target price of $239.54.

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.