Quanta Services, Inc. (NYSE:PWR) Given Average Rating of “Moderate Buy” by Brokerages

Shares of Quanta Services, Inc. (NYSE:PWR) have been assigned a consensus rating of “Moderate Buy” from the twenty-two research firms that are covering the stock, MarketBeat Ratings reports. Seven analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has given a strong buy rating to the company. The average 1 year price target among analysts that have updated their coverage on the stock in the last year is $326.79.

A number of equities research analysts have recently weighed in on PWR shares. Daiwa Capital Markets downgraded shares of Quanta Services from an “outperform” rating to a “neutral” rating in a research report on Monday, February 24th. Bank of America began 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. Roth Capital raised Quanta Services to a “strong-buy” rating in a research note on Thursday, February 20th. Guggenheim started coverage on shares of Quanta Services in a research note on Wednesday, January 8th. They set a “neutral” rating on the stock. Finally, Citigroup dropped their target price on shares of Quanta Services from $394.00 to $371.00 and set a “buy” rating for the company in a research report on Wednesday, January 29th.

Quanta Services Price Performance

Shares of NYSE PWR opened at $239.50 on Friday. The business’s 50 day moving average is $273.15 and its 200-day moving average is $304.21. The firm has a market cap of $35.49 billion, a P/E ratio of 39.72, a price-to-earnings-growth ratio of 1.41 and a beta of 1.04. Quanta Services has a 1-year low of $227.11 and a 1-year high of $365.88. The company has a current ratio of 1.30, a quick ratio of 1.19 and a debt-to-equity ratio of 0.56.

Quanta Services (NYSE:PWR) last announced its earnings results on Thursday, February 20th. The construction company reported $2.74 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.62 by $0.12. Quanta Services had a net margin of 3.82% and a return on equity of 18.00%. The company had revenue of $6.55 billion during the quarter, compared to analysts’ expectations of $6.61 billion. Equities research analysts predict that Quanta Services will post 9.34 earnings per share for the current year.

Quanta Services Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, April 11th. Shareholders of record on Thursday, April 3rd will be issued a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a yield of 0.17%. The ex-dividend date of this dividend is Thursday, April 3rd. Quanta Services’s payout ratio is presently 6.63%.

Hedge Funds Weigh In On Quanta Services

Hedge funds have recently made changes to their positions in the stock. Fisher Asset Management LLC acquired a new position in shares of Quanta Services in the 3rd quarter worth approximately $211,000. Glenmede Trust Co. NA lifted its holdings in Quanta Services by 0.7% in the third quarter. Glenmede Trust Co. NA now owns 38,647 shares of the construction company’s stock valued at $11,523,000 after buying an additional 287 shares during the period. Healthcare of Ontario Pension Plan Trust Fund boosted its position in Quanta Services by 591.5% during the third quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 17,252 shares of the construction company’s stock valued at $5,144,000 after acquiring an additional 14,757 shares during the last quarter. CreativeOne Wealth LLC acquired a new stake in Quanta Services during the 3rd quarter worth about $656,000. Finally, Fiduciary Trust Co raised its position in shares of Quanta Services by 4.8% in the 3rd quarter. Fiduciary Trust Co now owns 7,784 shares of the construction company’s stock worth $2,321,000 after acquiring an additional 353 shares in the last quarter. 90.49% of the stock is currently owned by institutional investors.

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.