Brokerages Set Quanta Services, Inc. (NYSE:PWR) PT at $324.25

Quanta Services, Inc. (NYSE:PWR - Get Free Report) has received a consensus recommendation of "Moderate Buy" from the eighteen brokerages that are presently covering the company, MarketBeat Ratings reports. Four equities research analysts have rated the stock with a hold recommendation, thirteen have given a buy recommendation and one has given a strong buy recommendation to the company. The average twelve-month price objective among analysts that have issued a report on the stock in the last year is $324.25.

A number of equities research analysts have weighed in on PWR shares. Wolfe Research assumed coverage on Quanta Services in a report on Thursday, September 19th. They issued an "outperform" rating and a $313.00 target price on the stock. 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. Daiwa Capital Markets initiated coverage on Quanta Services in a research note on Friday, December 6th. They set an "outperform" rating and a $355.00 target price for the company. Citigroup raised their price target on shares of Quanta Services from $348.00 to $394.00 and gave the company a "buy" rating in a research note on Monday, December 9th. Finally, TD Cowen upped their price objective on shares of Quanta Services from $280.00 to $335.00 and gave the stock a "buy" rating in a research report on Tuesday, October 15th.

Hedge Funds Weigh In On Quanta Services

A number of hedge funds have recently made changes to their positions in the stock. Prestige Wealth Management Group LLC bought a new position in Quanta Services during the 3rd quarter worth approximately $30,000. Legacy Investment Solutions LLC acquired a new stake in shares of Quanta Services during the third quarter worth $31,000. Valley Wealth Managers Inc. bought a new position in Quanta Services during the second quarter worth $33,000. Quest Partners LLC acquired a new position in Quanta Services in the second quarter valued at $35,000. Finally, MidAtlantic Capital Management Inc. bought a new stake in Quanta Services during the third quarter valued at $41,000. 90.49% of the stock is currently owned by institutional investors.

Quanta Services Price Performance

PWR traded up $5.82 on Friday, hitting $328.41. 2,080,686 shares of the stock were exchanged, compared to its average volume of 907,316. The firm has a market capitalization of $48.48 billion, a price-to-earnings ratio of 60.59 and a beta of 1.03. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.23 and a quick ratio of 1.19. Quanta Services has a 12 month low of $187.27 and a 12 month high of $350.19. The business has a 50-day moving average of $324.54 and a two-hundred day moving average of $288.56.

Quanta Services (NYSE:PWR - Get Free Report) last issued its quarterly earnings results on Thursday, October 31st. The construction company reported $2.72 earnings per share for the quarter, topping analysts' consensus estimates of $2.46 by $0.26. The company had revenue of $6.49 billion during the quarter, compared to the consensus estimate of $6.56 billion. Quanta Services had a net margin of 3.54% and a return on equity of 16.71%. The firm's quarterly revenue was up 15.5% on a year-over-year basis. During the same quarter in the prior year, the firm posted $2.08 EPS. Sell-side analysts forecast that Quanta Services will post 7.9 EPS for the current fiscal year.

Quanta Services Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, January 13th. Shareholders of record on Thursday, January 2nd will be given a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a dividend yield of 0.12%. The ex-dividend date of this dividend is Thursday, January 2nd. This is a positive change from Quanta Services's previous quarterly dividend of $0.09. Quanta Services's payout ratio is 7.38%.

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.