Quanta Services, Inc. (NYSE:PWR) Receives $268.85 Consensus PT from Analysts

Shares of Quanta Services, Inc. (NYSE:PWR) have been given an average recommendation of “Moderate Buy” by the twelve analysts that are covering the company, MarketBeat.com reports. Two research analysts have rated the stock with a hold recommendation and ten have assigned a buy recommendation to the company. The average 12-month target price among brokers that have covered the stock in the last year is $268.85.

A number of equities research analysts have commented on PWR shares. DA Davidson increased their price target on Quanta Services from $225.00 to $250.00 and gave the company a “neutral” rating in a research note on Tuesday, May 7th. Robert W. Baird increased their price target on Quanta Services from $265.00 to $287.00 and gave the company an “outperform” rating in a research note on Friday, May 3rd. Truist Financial reiterated a “buy” rating and issued a $305.00 price target (up from $301.00) on shares of Quanta Services in a research note on Monday, May 6th. B. Riley raised their price objective on Quanta Services from $246.00 to $286.00 and gave the stock a “buy” rating in a research note on Friday, May 3rd. Finally, The Goldman Sachs Group raised their price objective on Quanta Services from $259.00 to $286.00 and gave the stock a “buy” rating in a research note on Tuesday, May 28th.

Institutional Trading of Quanta Services

A number of institutional investors have recently made changes to their positions in PWR. Artisan Partners Limited Partnership boosted its stake in shares of Quanta Services by 384.9% in the fourth quarter. Artisan Partners Limited Partnership now owns 2,438,653 shares of the construction company’s stock worth $526,261,000 after acquiring an additional 1,935,786 shares during the last quarter. Norges Bank acquired a new stake in shares of Quanta Services in the fourth quarter worth approximately $335,777,000. Public Employees Retirement Association of Colorado boosted its stake in shares of Quanta Services by 20,298.9% in the fourth quarter. Public Employees Retirement Association of Colorado now owns 1,057,681 shares of the construction company’s stock worth $228,248,000 after acquiring an additional 1,052,496 shares during the last quarter. Nordea Investment Management AB boosted its stake in shares of Quanta Services by 8,297.7% in the fourth quarter. Nordea Investment Management AB now owns 912,413 shares of the construction company’s stock worth $196,205,000 after acquiring an additional 901,548 shares during the last quarter. Finally, Swedbank AB acquired a new stake in shares of Quanta Services in the first quarter worth approximately $227,218,000. 90.49% of the stock is owned by institutional investors and hedge funds.

Quanta Services Price Performance

Shares of PWR stock opened at $254.60 on Friday. Quanta Services has a 1-year low of $153.74 and a 1-year high of $286.87. The stock’s 50-day moving average is $268.77 and its 200 day moving average is $241.63. The company has a market cap of $37.27 billion, a P/E ratio of 49.34 and a beta of 1.03. The company has a debt-to-equity ratio of 0.50, a current ratio of 1.36 and a quick ratio of 1.32.

Quanta Services (NYSE:PWR) last released its quarterly earnings results on Thursday, May 2nd. The construction company reported $1.23 EPS for the quarter, beating analysts’ consensus estimates of $1.09 by $0.14. Quanta Services had a return on equity of 16.25% and a net margin of 3.57%. The company had revenue of $5.03 billion during the quarter, compared to analysts’ expectations of $4.96 billion. Research analysts predict that Quanta Services will post 7.69 earnings per share for the current fiscal year.

Quanta Services Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, July 12th. Stockholders of record on Monday, July 1st will be paid a $0.09 dividend. This represents a $0.36 dividend on an annualized basis and a dividend yield of 0.14%. The ex-dividend date is Monday, July 1st. Quanta Services’s dividend payout ratio is presently 6.98%.

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.