Quanta Services (NYSE:PWR) Price Target Raised to $413.00

Quanta Services (NYSE:PWR - Free Report) had its target price upped by UBS Group from $369.00 to $413.00 in a research report released on Thursday,Benzinga reports. UBS Group currently has a buy rating on the construction company's stock.

A number of other brokerages also recently commented on PWR. Citigroup lowered their price target on shares of Quanta Services from $366.00 to $342.00 and set a "buy" rating for the company in a report on Friday, April 25th. Roth Mkm initiated coverage on shares of Quanta Services in a research note on Friday, February 21st. They issued a "buy" rating and a $350.00 target price for the company. B. Riley increased their price target on Quanta Services from $300.00 to $355.00 and gave the stock a "neutral" rating in a research note on Friday, May 2nd. The Goldman Sachs Group reaffirmed a "buy" rating and issued a $414.00 price objective (up previously from $364.00) on shares of Quanta Services in a research report on Wednesday, June 4th. Finally, Roth Capital upgraded Quanta Services to a "strong-buy" rating in a research report on Thursday, February 20th. Six analysts have rated the stock with a hold rating, fourteen have given a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $349.65.

Quanta Services Price Performance

Shares of PWR stock traded up $2.49 during trading hours on Thursday, hitting $358.27. The company's stock had a trading volume of 860,067 shares, compared to its average volume of 1,512,392. The company has a current ratio of 1.30, a quick ratio of 1.19 and a debt-to-equity ratio of 0.56. The business has a fifty day moving average of $314.35 and a 200-day moving average of $304.86. Quanta Services has a twelve month low of $227.08 and a twelve month high of $365.88. The stock has a market cap of $53.12 billion, a price-to-earnings ratio of 59.41, a P/E/G ratio of 1.41 and a beta of 1.07.

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

Quanta Services Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, July 11th. Shareholders of record on Tuesday, July 1st will be paid a dividend of $0.10 per share. 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 presently 6.45%.

Institutional Investors Weigh In On Quanta Services

Several hedge funds have recently modified their holdings of PWR. Nicola Wealth Management LTD. boosted its holdings in Quanta Services by 18.8% in the 1st quarter. Nicola Wealth Management LTD. now owns 9,500 shares of the construction company's stock worth $2,415,000 after acquiring an additional 1,500 shares during the period. First Hawaiian Bank lifted its position in shares of Quanta Services by 47.2% during the first quarter. First Hawaiian Bank now owns 6,888 shares of the construction company's stock worth $1,751,000 after purchasing an additional 2,208 shares in the last quarter. Strs Ohio purchased a new position in shares of Quanta Services in the first quarter valued at $17,043,000. Jacobi Capital Management LLC grew its holdings 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 in the last quarter. Finally, Mattson Financial Services LLC increased its stake in Quanta Services by 24.5% during the 1st quarter. Mattson Financial Services LLC now owns 7,415 shares of the construction company's stock worth $1,885,000 after buying an additional 1,461 shares during the period. 90.49% of the stock is currently owned by hedge funds and other 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.