Quanta Services (NYSE:PWR) Given New $342.00 Price Target at Citigroup

Quanta Services (NYSE:PWR - Free Report) had its price objective cut by Citigroup from $366.00 to $342.00 in a report published on Friday,Benzinga reports. They currently have a buy rating on the construction company's stock.

PWR has been the subject of several other reports. Bank of America started coverage on Quanta Services in a research report on Friday, January 24th. They set a "buy" rating and a $407.00 target price for the company. JPMorgan Chase & Co. raised their target price on Quanta Services from $297.00 to $323.00 and gave the stock a "neutral" rating in a research report on Tuesday, January 28th. Truist Financial decreased their target price on Quanta Services from $398.00 to $324.00 and set a "buy" rating on the stock in a research note on Tuesday, April 8th. Stifel Nicolaus dropped their price target on Quanta Services from $323.00 to $287.00 and set a "buy" rating for the company in a research note on Wednesday, April 9th. Finally, Roth Mkm assumed coverage on Quanta Services in a research note on Friday, February 21st. They issued a "buy" rating and a $350.00 price target on the stock. Six investment analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and three have issued a strong buy rating to the company's stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $321.70.

Quanta Services Trading Down 1.0 %

PWR traded down $2.88 during trading on Friday, reaching $289.50. 672,479 shares of the company's stock were exchanged, compared to its average volume of 1,614,212. 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 firm has a market capitalization of $42.92 billion, a PE ratio of 48.01, a P/E/G ratio of 1.41 and a beta of 1.04. The company's fifty day moving average price is $262.08 and its 200-day moving average price is $300.21. Quanta Services has a fifty-two week low of $227.08 and a fifty-two week high of $365.88.

Quanta Services (NYSE:PWR - Get Free Report) last posted its quarterly earnings results on Thursday, February 20th. The construction company reported $2.74 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.62 by $0.12. Quanta Services had a net margin of 3.82% and a return on equity of 18.00%. The firm had revenue of $6.55 billion for the quarter, compared to analyst estimates of $6.61 billion. As a group, equities analysts forecast that Quanta Services will post 9.34 EPS for the current year.

Quanta Services Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, April 11th. Stockholders of record on Thursday, April 3rd were paid a dividend of $0.10 per share. The ex-dividend date of this dividend was Thursday, April 3rd. This represents a $0.40 dividend on an annualized basis and a dividend yield of 0.14%. Quanta Services's dividend payout ratio is 6.63%.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the stock. Banque Transatlantique SA acquired a new stake in shares of Quanta Services in the 4th quarter valued at approximately $25,000. Webster Bank N. A. boosted its stake in Quanta Services by 4,050.0% during the fourth quarter. Webster Bank N. A. now owns 83 shares of the construction company's stock worth $26,000 after acquiring an additional 81 shares in the last quarter. Quarry LP bought a new position in Quanta Services in the fourth quarter worth approximately $26,000. Sierra Ocean LLC acquired a new stake in Quanta Services in the 4th quarter valued at $27,000. Finally, Sound Income Strategies LLC raised its holdings in shares of Quanta Services by 700.0% in the 4th quarter. Sound Income Strategies LLC now owns 104 shares of the construction company's stock worth $33,000 after acquiring an additional 91 shares during the last quarter. 90.49% of the stock is owned by institutional investors.

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.