Quanta Services, Inc. (NYSE:PWR) Receives $268.85 Average Price Target from Analysts

Quanta Services, Inc. (NYSE:PWR) has received a consensus recommendation of “Moderate Buy” from the twelve research firms that are currently covering the stock, MarketBeat.com reports. Two investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. The average twelve-month target price among brokerages that have covered the stock in the last year is $268.85.

Several analysts have recently issued reports on the stock. DA Davidson upped their target price on shares of Quanta Services from $225.00 to $250.00 and gave the company a “neutral” rating in a research report on Tuesday, May 7th. Truist Financial restated a “buy” rating and set a $305.00 target price (up from $301.00) on shares of Quanta Services in a research report on Monday, May 6th. The Goldman Sachs Group upped their target price on shares of Quanta Services from $259.00 to $286.00 and gave the company a “buy” rating in a research report on Tuesday, May 28th. Robert W. Baird upped their target price on shares of Quanta Services from $265.00 to $287.00 and gave the company an “outperform” rating in a research report on Friday, May 3rd. Finally, B. Riley upped their target price on shares of Quanta Services from $246.00 to $286.00 and gave the company a “buy” rating in a research report on Friday, May 3rd.

Hedge Funds Weigh In On Quanta Services

A number of institutional investors have recently modified their holdings of PWR. EntryPoint Capital LLC purchased a new position in shares of Quanta Services during the first quarter worth approximately $25,000. Private Ocean LLC purchased a new position in shares of Quanta Services during the first quarter worth approximately $26,000. Salomon & Ludwin LLC purchased a new position in shares of Quanta Services during the first quarter worth approximately $26,000. Cambridge Trust Co. bought a new position in shares of Quanta Services during the first quarter valued at approximately $26,000. Finally, Hazlett Burt & Watson Inc. boosted its stake in shares of Quanta Services by 47.3% during the fourth quarter. Hazlett Burt & Watson Inc. now owns 162 shares of the construction company’s stock valued at $34,000 after purchasing an additional 52 shares in the last quarter. 90.49% of the stock is owned by hedge funds and other institutional investors.

Quanta Services Stock Up 0.1 %

PWR opened at $247.78 on Friday. The firm has a 50-day simple moving average of $268.75 and a two-hundred day simple moving average of $241.45. Quanta Services has a 52 week low of $153.74 and a 52 week high of $286.87. The company has a market capitalization of $36.27 billion, a PE ratio of 48.02 and a beta of 1.03. The company has a quick ratio of 1.32, a current ratio of 1.36 and a debt-to-equity ratio of 0.50.

Quanta Services (NYSE:PWR) last released its quarterly earnings data on Thursday, May 2nd. The construction company reported $1.23 EPS for the quarter, beating the consensus estimate of $1.09 by $0.14. Quanta Services had a net margin of 3.57% and a return on equity of 16.25%. The business had revenue of $5.03 billion during the quarter, compared to the consensus estimate of $4.96 billion. Analysts forecast that Quanta Services will post 7.69 earnings per share for the current fiscal year.

Quanta Services Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, July 12th. Stockholders of record on Monday, July 1st will be given a dividend of $0.09 per share. This represents a $0.36 dividend on an annualized basis and a dividend yield of 0.15%. The ex-dividend date is Monday, July 1st. Quanta Services’s dividend payout ratio (DPR) is presently 6.98%.

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.