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

Quanta Services, Inc. (NYSE:PWR) has been given a consensus rating of “Moderate Buy” by the twenty-two analysts that are currently covering the company, Marketbeat reports. Six analysts have rated the stock with a hold recommendation, fourteen have given a buy recommendation and two have given a strong buy recommendation to the company. The average 1-year price objective among brokerages that have updated their coverage on the stock in the last year is $349.65.

PWR has been the subject of a number of research reports. TD Cowen upped their price objective on Quanta Services from $335.00 to $355.00 and gave the stock a “buy” rating in a report on Wednesday, May 7th. Stifel Nicolaus upped their price objective on Quanta Services from $306.00 to $363.00 and gave the stock a “buy” rating in a report on Monday, May 5th. Truist Financial cut their price objective on Quanta Services from $398.00 to $324.00 and set a “buy” rating for the company in a report on Tuesday, April 8th. The Goldman Sachs Group reiterated a “buy” rating and issued a $414.00 price objective (up from $364.00) on shares of Quanta Services in a report on Wednesday, June 4th. Finally, Argus set a $375.00 price objective on Quanta Services in a report on Monday, May 5th.

Quanta Services Price Performance

Quanta Services stock opened at $360.48 on Friday. Quanta Services has a 52 week low of $227.08 and a 52 week high of $367.00. The business has a 50-day simple moving average of $324.49 and a 200 day simple moving average of $305.40. The company has a quick ratio of 1.26, a current ratio of 1.31 and a debt-to-equity ratio of 0.58. The stock has a market cap of $53.44 billion, a price-to-earnings ratio of 58.14, a PEG ratio of 2.81 and a beta of 1.07.

Quanta Services (NYSE:PWR) last posted its earnings results on Thursday, May 1st. The construction company reported $1.78 EPS for the quarter, topping the consensus estimate of $1.72 by $0.06. Quanta Services had a return on equity of 18.06% and a net margin of 3.74%. The business had revenue of $6.23 billion during the quarter, compared to analysts’ expectations of $5.88 billion. During the same period in the previous year, the business earned $1.41 earnings per share. The firm’s revenue was up 23.9% on a year-over-year basis. On average, research analysts forecast that Quanta Services will post 9.34 earnings per share for the current fiscal year.

Quanta Services Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, July 11th. Stockholders of record on Tuesday, July 1st will be paid a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a dividend yield of 0.11%. The ex-dividend date is Tuesday, July 1st. Quanta Services’s dividend payout ratio (DPR) is presently 6.45%.

Institutional Investors Weigh In On Quanta Services

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Voya Investment Management LLC raised its position in Quanta Services by 8.6% during the 1st quarter. Voya Investment Management LLC now owns 598,067 shares of the construction company’s stock valued at $152,017,000 after purchasing an additional 47,469 shares during the last quarter. Nicola Wealth Management LTD. raised its position in Quanta Services by 18.8% during the 1st quarter. Nicola Wealth Management LTD. now owns 9,500 shares of the construction company’s stock valued at $2,415,000 after purchasing an additional 1,500 shares during the last quarter. First Hawaiian Bank raised its position in Quanta Services by 47.2% during the 1st quarter. First Hawaiian Bank now owns 6,888 shares of the construction company’s stock valued at $1,751,000 after purchasing an additional 2,208 shares during the last quarter. Strs Ohio bought a new position in Quanta Services during the 1st quarter valued at approximately $17,043,000. Finally, Jacobi Capital Management LLC raised its position in Quanta Services by 1.8% during the 1st quarter. Jacobi Capital Management LLC now owns 11,331 shares of the construction company’s stock valued at $2,880,000 after purchasing an additional 198 shares during the last quarter. Institutional investors own 90.49% of the company’s stock.

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.