Quanta Services (NYSE:PWR) Earns Neutral Rating from Analysts at Guggenheim

Guggenheim began coverage on shares of Quanta Services (NYSE:PWR) in a report released on Wednesday, Marketbeat.com reports. The firm issued a neutral rating on the construction company’s stock.

Several other equities research analysts have also recently issued reports on PWR. Daiwa America raised Quanta Services to a “strong-buy” rating in a research note on Friday, December 6th. Northland Securities reaffirmed an “outperform” rating and issued a $328.00 price objective (up from $280.00) on shares of Quanta Services in a research note on Friday, November 1st. Stifel Nicolaus lifted their price objective on Quanta Services from $343.00 to $374.00 and gave the company a “buy” rating in a research note on Wednesday, December 11th. Truist Financial lifted their target price on Quanta Services from $358.00 to $399.00 and gave the company a “buy” rating in a report on Thursday, December 19th. Finally, UBS Group lifted their target price on Quanta Services from $313.00 to $367.00 and gave the company a “buy” rating in a report on Wednesday, October 23rd. Four investment analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $324.25.

Quanta Services Stock Performance

Shares of Quanta Services stock opened at $314.03 on Wednesday. Quanta Services has a one year low of $187.27 and a one year high of $350.19. The company has a market cap of $46.35 billion, a price-to-earnings ratio of 57.94 and a beta of 1.06. The company has a debt-to-equity ratio of 0.58, a quick ratio of 1.19 and a current ratio of 1.23. The business’s 50 day moving average price is $328.05 and its 200 day moving average price is $293.59.

Quanta Services (NYSE:PWR) last announced its quarterly earnings data on Thursday, October 31st. The construction company reported $2.72 EPS for the quarter, topping analysts’ consensus estimates of $2.46 by $0.26. The firm had revenue of $6.49 billion for the quarter, compared to the consensus estimate of $6.56 billion. Quanta Services had a return on equity of 16.71% and a net margin of 3.54%. The firm’s revenue was up 15.5% compared to the same quarter last year. During the same quarter last year, the business posted $2.08 earnings per share. On average, research analysts predict that Quanta Services will post 7.9 EPS for the current year.

Quanta Services Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, January 13th. Stockholders of record on Thursday, January 2nd will be issued a $0.10 dividend. This is an increase from Quanta Services’s previous quarterly dividend of $0.09. This represents a $0.40 annualized dividend and a dividend yield of 0.13%. The ex-dividend date of this dividend is Thursday, January 2nd. Quanta Services’s payout ratio is presently 7.38%.

Institutional Trading of Quanta Services

Institutional investors and hedge funds have recently made changes to their positions in the company. Legacy Investment Solutions LLC purchased a new stake in shares of Quanta Services in the 3rd quarter valued at about $31,000. Prestige Wealth Management Group LLC acquired a new position in Quanta Services in the 3rd quarter valued at about $30,000. Versant Capital Management Inc increased its position in Quanta Services by 62.5% in the 4th quarter. Versant Capital Management Inc now owns 117 shares of the construction company’s stock valued at $37,000 after acquiring an additional 45 shares during the period. Valley Wealth Managers Inc. acquired a new position in Quanta Services in the 2nd quarter valued at about $33,000. Finally, Quest Partners LLC acquired a new position in Quanta Services in the 2nd quarter valued at about $35,000. 90.49% of the stock is 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.