Analysts Set Quanta Services, Inc. (NYSE:PWR) Target Price at $273.75

Shares of Quanta Services, Inc. (NYSE:PWR) have been assigned a consensus recommendation of “Moderate Buy” from the twelve analysts that are currently covering the firm, MarketBeat reports. Two analysts have rated the stock with a hold recommendation and ten have assigned a buy recommendation to the company. The average 1-year price objective among brokers that have issued ratings on the stock in the last year is $273.75.

Several research analysts recently weighed in on the stock. Robert W. Baird upped their price objective on shares of Quanta Services from $287.00 to $288.00 and gave the stock an “outperform” rating in a research report on Friday, July 19th. Argus raised their price objective on shares of Quanta Services from $285.00 to $310.00 and gave the company a “buy” rating in a research report on Thursday, May 30th. Citigroup upped their target price on shares of Quanta Services from $299.00 to $302.00 and gave the stock a “buy” rating in a research report on Monday, July 22nd. The Goldman Sachs Group lifted their price target on Quanta Services from $259.00 to $286.00 and gave the stock a “buy” rating in a research note on Tuesday, May 28th. Finally, B. Riley upped their price objective on Quanta Services from $246.00 to $286.00 and gave the stock a “buy” rating in a report on Friday, May 3rd.

Quanta Services Price Performance

Shares of NYSE:PWR opened at $256.73 on Tuesday. The company has a 50 day moving average of $266.89 and a 200 day moving average of $246.82. The company has a current ratio of 1.36, a quick ratio of 1.32 and a debt-to-equity ratio of 0.50. The stock has a market cap of $37.58 billion, a P/E ratio of 49.75 and a beta of 1.03. Quanta Services has a 12 month low of $153.74 and a 12 month high of $286.87.

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

Quanta Services Announces Dividend

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

Hedge Funds Weigh In On Quanta Services

Hedge funds have recently made changes to their positions in the business. Vanguard Group Inc. lifted its holdings in Quanta Services by 0.6% in the first quarter. Vanguard Group Inc. now owns 16,341,230 shares of the construction company’s stock worth $4,245,452,000 after buying an additional 105,355 shares during the period. JPMorgan Chase & Co. grew its stake in Quanta Services by 2.4% in the first quarter. JPMorgan Chase & Co. now owns 6,760,260 shares of the construction company’s stock worth $1,756,316,000 after purchasing an additional 156,627 shares during the period. Capital World Investors raised its holdings in Quanta Services by 10.7% in the first quarter. Capital World Investors now owns 6,643,733 shares of the construction company’s stock worth $1,726,042,000 after purchasing an additional 643,011 shares in the last quarter. Artisan Partners Limited Partnership boosted its holdings in shares of Quanta Services by 384.9% during the 4th quarter. Artisan Partners Limited Partnership now owns 2,438,653 shares of the construction company’s stock valued at $526,261,000 after buying an additional 1,935,786 shares in the last quarter. Finally, Norges Bank purchased a new stake in shares of Quanta Services in the 4th quarter worth about $335,777,000. 90.49% of the stock is owned by hedge funds and other institutional investors.

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.