Quanta Services, Inc. (NYSE:PWR) to Issue $0.10 Quarterly Dividend

Quanta Services, Inc. (NYSE:PWR) announced a quarterly dividend on Friday, March 21st, RTT News reports. Stockholders of record on Thursday, April 3rd will be paid a dividend of 0.10 per share by the construction company on Friday, April 11th. This represents a $0.40 annualized dividend and a dividend yield of 0.15%.

Quanta Services has increased its dividend payment by an average of 14.0% per year over the last three years. Quanta Services has a dividend payout ratio of 3.4% meaning its dividend is sufficiently covered by earnings. Analysts expect Quanta Services to earn $10.38 per share next year, which means the company should continue to be able to cover its $0.40 annual dividend with an expected future payout ratio of 3.9%.

Quanta Services Price Performance

Shares of NYSE:PWR opened at $268.43 on Friday. The company has a market cap of $39.78 billion, a price-to-earnings ratio of 44.52, a PEG ratio of 1.41 and a beta of 1.10. The business has a 50 day moving average price of $289.30 and a 200 day moving average price of $303.94. The company has a quick ratio of 1.19, a current ratio of 1.30 and a debt-to-equity ratio of 0.56. Quanta Services has a twelve month low of $227.11 and a twelve month high of $365.88.

Quanta Services (NYSE:PWR) last announced its earnings results on Thursday, February 20th. The construction company reported $2.74 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.62 by $0.12. Quanta Services had a net margin of 3.82% and a return on equity of 18.00%. The business had revenue of $6.55 billion for the quarter, compared to analyst estimates of $6.61 billion. Research analysts predict that Quanta Services will post 9.34 earnings per share for the current year.

Analyst Ratings Changes

A number of research firms have weighed in on PWR. Stifel Nicolaus decreased their price target on shares of Quanta Services from $388.00 to $323.00 and set a “buy” rating on the stock in a research note on Monday, February 24th. Roth Mkm began coverage on shares of Quanta Services in a research report on Friday, February 21st. They set a “buy” rating and a $350.00 target price on the stock. JPMorgan Chase & Co. increased their price target on shares of Quanta Services from $297.00 to $323.00 and gave the stock a “neutral” rating in a research report on Tuesday, January 28th. Bank of America started coverage on Quanta Services in a report on Friday, January 24th. They set a “buy” rating and a $407.00 price objective on the stock. Finally, BMO Capital Markets upgraded shares of Quanta Services from a “market perform” rating to an “outperform” rating and dropped their target price for the stock from $338.00 to $316.00 in a research report on Tuesday, February 25th. Seven analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, Quanta Services currently has a consensus rating of “Moderate Buy” and an average target price of $326.79.

Institutional Inflows and Outflows

A hedge fund recently bought a new stake in Quanta Services stock. Brighton Jones LLC bought a new stake in shares of Quanta Services, Inc. (NYSE:PWR) during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 943 shares of the construction company’s stock, valued at approximately $298,000. Institutional investors and hedge funds own 90.49% of the company’s stock.

About Quanta Services

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.