Quanta Services, Inc. (NYSE:PWR) Receives Consensus Recommendation of "Moderate Buy" from Analysts

Quanta Services, Inc. (NYSE:PWR - Get Free Report) has earned an average rating of "Moderate Buy" from the twenty-two ratings firms that are currently covering the stock, Marketbeat.com reports. Six research analysts have rated the stock with a hold recommendation, fourteen have issued a buy recommendation and two have issued a strong buy recommendation on the company. The average twelve-month target price among brokers 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. B. Riley lifted their price objective on Quanta Services from $300.00 to $355.00 and gave the company a "neutral" rating in a research note on Friday, May 2nd. Evercore ISI boosted their target price on shares of Quanta Services from $331.00 to $360.00 and gave the stock an "outperform" rating in a research note on Friday, May 2nd. UBS Group raised their price objective on shares of Quanta Services from $369.00 to $413.00 and gave the stock a "buy" rating in a report on Thursday. DA Davidson boosted their target price on Quanta Services from $295.00 to $305.00 and gave the company a "neutral" rating in a report on Friday, May 2nd. Finally, Piper Sandler reiterated an "overweight" rating and issued a $370.00 price target (up previously from $360.00) on shares of Quanta Services in a research report on Tuesday, May 27th.

Hedge Funds Weigh In On Quanta Services

Several large investors have recently bought and sold shares of the stock. Vanguard Group Inc. raised its position in Quanta Services by 2.4% in the first quarter. Vanguard Group Inc. now owns 17,417,299 shares of the construction company's stock worth $4,427,129,000 after purchasing an additional 407,878 shares in the last quarter. Capital World Investors increased its holdings in shares of Quanta Services by 14.1% in the fourth quarter. Capital World Investors now owns 7,223,471 shares of the construction company's stock valued at $2,282,978,000 after purchasing an additional 891,977 shares in the last quarter. Geode Capital Management LLC lifted its stake in shares of Quanta Services by 2.9% during the fourth quarter. Geode Capital Management LLC now owns 3,558,827 shares of the construction company's stock valued at $1,121,830,000 after acquiring an additional 99,416 shares during the period. Invesco Ltd. lifted its position in Quanta Services by 3.7% during the 4th quarter. Invesco Ltd. now owns 1,913,847 shares of the construction company's stock valued at $604,871,000 after purchasing an additional 68,565 shares during the period. Finally, Norges Bank acquired a new position in Quanta Services in the fourth quarter valued at approximately $544,937,000. 90.49% of the stock is currently owned by institutional investors and hedge funds.

Quanta Services Price Performance

Shares of Quanta Services stock traded down $0.79 during trading hours on Friday, hitting $357.86. The company's stock had a trading volume of 796,164 shares, compared to its average volume of 1,505,997. Quanta Services has a 12-month low of $227.08 and a 12-month high of $365.88. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.19 and a current ratio of 1.30. The company has a market cap of $53.06 billion, a PE ratio of 59.35, a PEG ratio of 1.41 and a beta of 1.07. The business has a 50 day moving average price of $314.35 and a two-hundred day moving average price of $304.86.

Quanta Services (NYSE:PWR - Get Free Report) last released its quarterly earnings results on Thursday, May 1st. The construction company reported $1.78 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.72 by $0.06. Quanta Services had a net margin of 3.82% and a return on equity of 18.00%. The company had revenue of $6.23 billion for the quarter, compared to the consensus estimate of $5.88 billion. During the same quarter in the prior year, the firm earned $1.41 earnings per share. Quanta Services's revenue was up 23.9% on a year-over-year basis. Analysts expect that Quanta Services will post 9.34 earnings per share for the current fiscal year.

Quanta Services Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, July 11th. Stockholders of record on Tuesday, July 1st will be given 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 of this dividend is Tuesday, July 1st. Quanta Services's dividend payout ratio is 6.45%.

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.