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

Quanta Services, Inc. (NYSE:PWR) has been assigned a consensus recommendation of “Moderate Buy” from the eighteen research firms that are covering the stock, Marketbeat Ratings reports. Four equities research analysts have rated the stock with a hold recommendation, thirteen have issued a buy recommendation and one has given a strong buy recommendation to the company. The average 12-month price objective among brokerages that have issued ratings on the stock in the last year is $324.19.

PWR has been the subject of several analyst reports. Northland Securities restated an “outperform” rating and set a $328.00 target price (up previously from $280.00) on shares of Quanta Services in a research report on Friday, November 1st. JPMorgan Chase & Co. assumed coverage on Quanta Services in a research report on Monday, October 7th. They set a “neutral” rating and a $297.00 target price for the company. Daiwa America upgraded Quanta Services to a “strong-buy” rating in a research report on Friday, December 6th. Truist Financial cut their price objective on Quanta Services from $399.00 to $398.00 and set a “buy” rating for the company in a research report on Thursday. Finally, TD Cowen lifted their price objective on Quanta Services from $280.00 to $335.00 and gave the company a “buy” rating in a research report on Tuesday, October 15th.

Quanta Services Stock Performance

PWR opened at $337.10 on Tuesday. Quanta Services has a 12-month low of $187.27 and a 12-month high of $350.19. The firm has a market capitalization of $49.76 billion, a P/E ratio of 62.20 and a beta of 1.06. The stock’s 50 day moving average price is $329.35 and its two-hundred day moving average price is $296.48. The company has a quick ratio of 1.19, a current ratio of 1.23 and a debt-to-equity ratio of 0.58.

Quanta Services (NYSE:PWR) last announced its quarterly earnings data on Thursday, October 31st. The construction company reported $2.72 earnings per share for the quarter, topping the consensus estimate of $2.46 by $0.26. The company had revenue of $6.49 billion for the quarter, compared to analyst estimates of $6.56 billion. Quanta Services had a return on equity of 16.71% and a net margin of 3.54%. Quanta Services’s revenue for the quarter was up 15.5% compared to the same quarter last year. During the same quarter last year, the firm earned $2.08 EPS. On average, equities analysts forecast that Quanta Services will post 7.9 earnings per share for the current year.

Quanta Services Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, January 13th. Investors of record on Thursday, January 2nd were paid a dividend of $0.10 per share. The ex-dividend date was Thursday, January 2nd. This is a boost from Quanta Services’s previous quarterly dividend of $0.09. This represents a $0.40 dividend on an annualized basis and a dividend yield of 0.12%. Quanta Services’s payout ratio is 7.38%.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. State Street Corp grew its stake in Quanta Services by 1.6% in the third quarter. State Street Corp now owns 5,748,637 shares of the construction company’s stock valued at $1,713,956,000 after acquiring an additional 89,975 shares during the period. Geode Capital Management LLC lifted its holdings in shares of Quanta Services by 1.4% in the third quarter. Geode Capital Management LLC now owns 3,459,411 shares of the construction company’s stock valued at $1,027,887,000 after purchasing an additional 46,357 shares in the last quarter. Electron Capital Partners LLC lifted its holdings in shares of Quanta Services by 395.1% in the second quarter. Electron Capital Partners LLC now owns 2,622,142 shares of the construction company’s stock valued at $666,260,000 after purchasing an additional 2,092,519 shares in the last quarter. Massachusetts Financial Services Co. MA lifted its holdings in shares of Quanta Services by 17.8% in the second quarter. Massachusetts Financial Services Co. MA now owns 1,235,655 shares of the construction company’s stock valued at $313,968,000 after purchasing an additional 186,306 shares in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its holdings in shares of Quanta Services by 4.3% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,060,052 shares of the construction company’s stock valued at $316,055,000 after purchasing an additional 43,715 shares in 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.