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

Quanta Services, Inc. (NYSE:PWR) has received a consensus recommendation of “Moderate Buy” from the eighteen analysts that are currently covering the company, Marketbeat.com reports. Four investment analysts have rated the stock with a hold recommendation, thirteen have given a buy recommendation and one has issued a strong buy recommendation on the company. The average 1 year target price among brokerages that have updated their coverage on the stock in the last year is $324.25.

PWR has been the topic of several research analyst reports. Citigroup boosted their target price on Quanta Services from $348.00 to $394.00 and gave the stock a “buy” rating in a research note on Monday, December 9th. Robert W. Baird boosted their price target on Quanta Services from $320.00 to $333.00 and gave the stock an “outperform” rating in a research note on Friday, November 1st. TD Cowen increased their price objective on shares of Quanta Services from $280.00 to $335.00 and gave the company a “buy” rating in a research report on Tuesday, October 15th. UBS Group boosted their target price on shares of Quanta Services from $313.00 to $367.00 and gave the stock a “buy” rating in a research report on Wednesday, October 23rd. Finally, Northland Securities reaffirmed an “outperform” rating and issued a $328.00 price target (up previously from $280.00) on shares of Quanta Services in a report on Friday, November 1st.

Quanta Services Stock Performance

PWR stock opened at $330.81 on Friday. Quanta Services has a one year low of $187.27 and a one year high of $350.19. The firm has a market cap of $48.83 billion, a price-to-earnings ratio of 61.04 and a beta of 1.03. The company has a debt-to-equity ratio of 0.58, a quick ratio of 1.19 and a current ratio of 1.23. The firm has a 50-day simple moving average of $325.76 and a two-hundred day simple moving average of $290.03.

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

Quanta Services Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, January 13th. Investors of record on Thursday, January 2nd will be given a dividend of $0.10 per share. This is a boost from Quanta Services’s previous quarterly dividend of $0.09. This represents a $0.40 annualized dividend and a yield of 0.12%. The ex-dividend date of this dividend is Thursday, January 2nd. Quanta Services’s dividend payout ratio (DPR) is currently 7.38%.

Hedge Funds Weigh In On Quanta Services

Several large investors have recently made changes to their positions in the company. Prestige Wealth Management Group LLC purchased a new position in Quanta Services in the third quarter valued at $30,000. Legacy Investment Solutions LLC purchased a new position in shares of Quanta Services in the 3rd quarter valued at about $31,000. Valley Wealth Managers Inc. acquired a new position in Quanta Services in the 2nd quarter worth about $33,000. Quest Partners LLC purchased a new position in Quanta Services during the second quarter worth approximately $35,000. Finally, MidAtlantic Capital Management Inc. acquired a new stake in Quanta Services in the third quarter valued at approximately $41,000. 90.49% of the stock is currently 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.