Brokerages Set Quanta Services, Inc. (NYSE:PWR) PT at $330.50

Quanta Services, Inc. (NYSE:PWR) has earned an average rating of “Moderate Buy” from the twenty brokerages that are covering the stock, MarketBeat.com reports. Four investment analysts have rated the stock with a hold recommendation, fifteen have issued a buy recommendation and one has assigned a strong buy recommendation to the company. The average twelve-month target price among analysts that have issued ratings on the stock in the last year is $330.50.

Several research firms have weighed in on PWR. Guggenheim initiated coverage on shares of Quanta Services in a research note on Wednesday, January 8th. They set a “neutral” rating for the company. Stifel Nicolaus boosted their price objective on shares of Quanta Services from $374.00 to $388.00 and gave the company a “buy” rating in a research report on Wednesday, January 22nd. Robert W. Baird raised their target price 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 upped their target price on Quanta Services from $313.00 to $367.00 and gave the company a “buy” rating in a report on Wednesday, October 23rd. Finally, BMO Capital Markets assumed coverage on Quanta Services in a report on Monday, February 3rd. They issued an “outperform” rating and a $338.00 price target on the stock.

Hedge Funds Weigh In On Quanta Services

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Versor Investments LP bought a new position in shares of Quanta Services during the 3rd quarter valued at about $406,000. Principal Financial Group Inc. raised its holdings in Quanta Services by 5.6% during the 3rd quarter. Principal Financial Group Inc. now owns 207,720 shares of the construction company’s stock worth $61,932,000 after buying an additional 11,012 shares during the period. Asio Capital LLC bought a new position in Quanta Services in the third quarter valued at approximately $2,715,000. Synovus Financial Corp boosted its holdings in shares of Quanta Services by 34.0% in the third quarter. Synovus Financial Corp now owns 7,206 shares of the construction company’s stock valued at $2,148,000 after buying an additional 1,830 shares during the period. Finally, Waverton Investment Management Ltd boosted its holdings in shares of Quanta Services by 6.5% in the third quarter. Waverton Investment Management Ltd now owns 41,963 shares of the construction company’s stock valued at $12,509,000 after buying an additional 2,557 shares during the period. 90.49% of the stock is owned by institutional investors.

Quanta Services Price Performance

Shares of PWR stock opened at $298.44 on Friday. The firm has a fifty day moving average of $322.55 and a two-hundred day moving average of $303.94. The firm has a market cap of $44.05 billion, a P/E ratio of 55.06, a P/E/G ratio of 1.56 and a beta of 1.05. Quanta Services has a 1-year low of $205.82 and a 1-year high of $365.88. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.23 and a quick ratio of 1.19.

Quanta Services Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, January 13th. Stockholders of record on Thursday, January 2nd were given a $0.10 dividend. This is a positive change from Quanta Services’s previous quarterly dividend of $0.09. This represents a $0.40 annualized dividend and a dividend yield of 0.13%. The ex-dividend date was Thursday, January 2nd. Quanta Services’s dividend payout ratio (DPR) is currently 7.38%.

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.