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

Quanta Services, Inc. (NYSE:PWR) declared 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 dividend on an annualized basis and a dividend yield of 0.15%.

Quanta Services has raised its dividend payment by an average of 14.0% annually over the last three years. Quanta Services has a payout ratio of 3.4% indicating that its dividend is sufficiently covered by earnings. Equities 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 Stock Performance

Shares of PWR opened at $268.43 on Friday. The business has a fifty day moving average of $289.30 and a 200 day moving average of $303.94. Quanta Services has a one year low of $227.11 and a one year high of $365.88. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.30 and a quick ratio of 1.19. The firm has a market capitalization of $39.78 billion, a P/E ratio of 44.52, a PEG ratio of 1.41 and a beta of 1.10.

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

Wall Street Analyst Weigh In

Several brokerages have weighed in on PWR. Daiwa Capital Markets cut Quanta Services from an “outperform” rating to a “neutral” rating in a research note on Monday, February 24th. Roth Mkm assumed coverage on Quanta Services in a report on Friday, February 21st. They issued a “buy” rating and a $350.00 price target for the company. B. Riley reissued a “neutral” rating and set a $300.00 target price (down previously from $343.00) on shares of Quanta Services in a research report on Wednesday. BMO Capital Markets raised Quanta Services from a “market perform” rating to an “outperform” rating and reduced their price target for the stock from $338.00 to $316.00 in a research report on Tuesday, February 25th. Finally, Truist Financial lowered their target price on shares of Quanta Services from $399.00 to $398.00 and set a “buy” rating for the company in a research note on Thursday, January 16th. Seven research analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $326.79.

Hedge Funds Weigh In On Quanta Services

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

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.