Quanta Services (NYSE:PWR) Research Coverage Started at Piper Sandler

Piper Sandler assumed coverage on shares of Quanta Services (NYSE:PWR) in a report published on Tuesday, MarketBeat.com reports. The firm issued an overweight rating and a $286.00 price target on the construction company’s stock.

A number of other analysts also recently weighed in on the company. Roth Capital upgraded Quanta Services to a “strong-buy” rating in a report on Thursday, February 20th. Daiwa America downgraded Quanta Services from a “strong-buy” rating to a “hold” rating in a research report on Monday, February 24th. BMO Capital Markets upgraded Quanta Services from a “market perform” rating to an “outperform” rating and reduced their target price for the company from $338.00 to $316.00 in a report on Tuesday, February 25th. Citigroup lowered their price target on shares of Quanta Services from $394.00 to $371.00 and set a “buy” rating for the company in a report on Wednesday, January 29th. Finally, Stifel Nicolaus decreased their price objective on shares of Quanta Services from $388.00 to $323.00 and set a “buy” rating for the company in a research report on Monday, February 24th. Seven analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat, Quanta Services currently has a consensus rating of “Moderate Buy” and an average price target of $319.25.

Quanta Services Trading Down 2.4 %

Shares of PWR stock opened at $263.23 on Tuesday. The company has a quick ratio of 1.19, a current ratio of 1.30 and a debt-to-equity ratio of 0.56. The firm has a market capitalization of $39.01 billion, a P/E ratio of 43.65, a P/E/G ratio of 1.41 and a beta of 1.04. Quanta Services has a twelve month low of $227.08 and a twelve month high of $365.88. The stock’s fifty day simple moving average is $267.81 and its 200 day simple moving average is $302.72.

Quanta Services (NYSE:PWR) last released its quarterly earnings data on Thursday, February 20th. The construction company reported $2.74 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.62 by $0.12. Quanta Services had a return on equity of 18.00% and a net margin of 3.82%. The company had revenue of $6.55 billion during the quarter, compared to the consensus estimate of $6.61 billion. As a group, sell-side analysts predict that Quanta Services will post 9.34 EPS for the current fiscal year.

Quanta Services Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, April 11th. Stockholders of record on Thursday, April 3rd will be issued a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a dividend yield of 0.15%. The ex-dividend date is Thursday, April 3rd. Quanta Services’s dividend payout ratio is currently 6.63%.

Hedge Funds Weigh In On Quanta Services

Several large investors have recently added to or reduced their stakes in the business. Vanguard Group Inc. lifted its holdings in shares of Quanta Services by 1.0% in the fourth quarter. Vanguard Group Inc. now owns 17,009,421 shares of the construction company’s stock valued at $5,375,828,000 after purchasing an additional 161,277 shares in the last quarter. Capital World Investors lifted its stake in Quanta Services by 14.1% during the 4th quarter. Capital World Investors now owns 7,223,471 shares of the construction company’s stock valued at $2,282,978,000 after acquiring an additional 891,977 shares in the last quarter. Geode Capital Management LLC boosted its holdings in Quanta Services by 2.9% during the 4th quarter. Geode Capital Management LLC now owns 3,558,827 shares of the construction company’s stock worth $1,121,830,000 after acquiring an additional 99,416 shares during the last quarter. Invesco Ltd. grew its stake in shares of Quanta Services by 3.7% in the 4th quarter. Invesco Ltd. now owns 1,913,847 shares of the construction company’s stock worth $604,871,000 after acquiring an additional 68,565 shares in the last quarter. Finally, Norges Bank purchased a new stake in shares of Quanta Services in the fourth quarter valued at about $544,937,000. 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.