Quanta Services (NYSE:PWR) Research Coverage Started at BMO Capital Markets

BMO Capital Markets started coverage on shares of Quanta Services (NYSE:PWR) in a research report released on Monday morning, MarketBeat.com reports. The firm issued an outperform rating and a $338.00 price target on the construction company’s stock.

Several other analysts have also recently commented on the stock. Robert W. Baird raised their price target on shares of Quanta Services from $320.00 to $333.00 and gave the stock an “outperform” rating in a report on Friday, November 1st. UBS Group lifted their price target on Quanta Services from $313.00 to $367.00 and gave the company a “buy” rating in a report on Wednesday, October 23rd. Daiwa America upgraded Quanta Services to a “strong-buy” rating in a report on Friday, December 6th. Bank of America initiated coverage on shares of Quanta Services in a research note on Friday, January 24th. They issued a “buy” rating and a $407.00 target price for the company. Finally, Truist Financial cut their price target on shares of Quanta Services from $399.00 to $398.00 and set a “buy” rating on the stock in a report on Thursday, January 16th. Four research analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $330.50.

Quanta Services Price Performance

PWR opened at $298.50 on Monday. The firm has a market capitalization of $44.06 billion, a P/E ratio of 55.07, a PEG ratio of 1.54 and a beta of 1.05. Quanta Services has a 12-month low of $200.23 and a 12-month high of $365.88. 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 stock has a fifty day moving average of $325.93 and a 200-day moving average of $302.22.

Quanta Services Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, January 13th. Shareholders of record on Thursday, January 2nd were paid a dividend of $0.10 per share. 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 an increase from Quanta Services’s previous quarterly dividend of $0.09. Quanta Services’s payout ratio is currently 7.38%.

Institutional Investors Weigh In On Quanta Services

A number of institutional investors have recently added to or reduced their stakes in the stock. Webster Bank N. A. raised its stake in shares of Quanta Services by 4,050.0% in the fourth quarter. Webster Bank N. A. now owns 83 shares of the construction company’s stock valued at $26,000 after acquiring an additional 81 shares during the last quarter. Sierra Ocean LLC bought a new position in Quanta Services during the 4th quarter worth approximately $27,000. Prestige Wealth Management Group LLC bought a new stake in shares of Quanta Services during the third quarter worth $30,000. Legacy Investment Solutions LLC acquired a new position in Quanta Services during the 3rd quarter worth approximately $31,000. Finally, Sound Income Strategies LLC boosted its stake in shares of Quanta Services by 700.0% during the 4th quarter. Sound Income Strategies LLC now owns 104 shares of the construction company’s stock worth $33,000 after buying an additional 91 shares during the last quarter. 90.49% of the stock is 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.