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

Shares of Quanta Services, Inc. (NYSE:PWR - Get Free Report) have been given an average rating of "Moderate Buy" by the eighteen ratings firms that are covering the company, Marketbeat Ratings reports. Four analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has given a strong buy rating to the company. The average 1-year price target among brokerages that have covered the stock in the last year is $324.25.

A number of analysts have recently weighed in on PWR shares. Truist Financial boosted their target price on shares of Quanta Services from $358.00 to $399.00 and gave the stock a "buy" rating in a report on Thursday, December 19th. TD Cowen upped their price objective on Quanta Services from $280.00 to $335.00 and gave the company a "buy" rating in a research report on Tuesday, October 15th. Robert W. Baird lifted their target price on Quanta Services from $320.00 to $333.00 and gave the stock an "outperform" rating in a report on Friday, November 1st. Daiwa Capital Markets began coverage on Quanta Services in a report on Friday, December 6th. They set an "outperform" rating and a $355.00 price target on the stock. Finally, Guggenheim initiated coverage on shares of Quanta Services in a research note on Wednesday, January 8th. They set a "neutral" rating for the company.

Quanta Services Price Performance

Shares of PWR traded up $4.99 during midday trading on Tuesday, hitting $319.22. 1,087,789 shares of the company traded hands, compared to its average volume of 925,046. The stock has a market cap of $47.12 billion, a price-to-earnings ratio of 58.90 and a beta of 1.06. The firm has a 50 day moving average of $328.46 and a 200-day moving average of $294.54. The company has a debt-to-equity ratio of 0.58, a quick ratio of 1.19 and a current ratio of 1.23. Quanta Services has a 52 week low of $187.27 and a 52 week high of $350.19.

Quanta Services (NYSE:PWR - Get Free Report) last released its quarterly earnings results on Thursday, October 31st. The construction company reported $2.72 earnings per share for the quarter, beating the consensus estimate of $2.46 by $0.26. The business had revenue of $6.49 billion during the quarter, compared to analysts' expectations 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 for the quarter was up 15.5% compared to the same quarter last year. During the same quarter last year, the business posted $2.08 EPS. On average, analysts forecast that Quanta Services will post 7.9 EPS for the current fiscal year.

Quanta Services Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, January 13th. Shareholders of record on Thursday, January 2nd were given a dividend of $0.10 per share. The ex-dividend date of this dividend was Thursday, January 2nd. This is a positive change from Quanta Services's previous quarterly dividend of $0.09. This represents a $0.40 dividend on an annualized basis and a yield of 0.13%. Quanta Services's payout ratio is 7.38%.

Hedge Funds Weigh In On Quanta Services

Institutional investors have recently made changes to their positions in the company. Versor Investments LP bought a new position in Quanta Services during the 3rd quarter worth about $406,000. Principal Financial Group Inc. lifted its position in shares of Quanta Services by 5.6% in the 3rd quarter. Principal Financial Group Inc. now owns 207,720 shares of the construction company's stock worth $61,932,000 after purchasing an additional 11,012 shares during the period. Asio Capital LLC bought a new position in shares of Quanta Services during the third quarter valued at approximately $2,715,000. Waverton Investment Management Ltd increased its holdings in Quanta Services by 6.5% during the third quarter. Waverton Investment Management Ltd now owns 41,963 shares of the construction company's stock valued at $12,509,000 after buying an additional 2,557 shares during the period. Finally, Synovus Financial Corp lifted its holdings in Quanta Services by 34.0% during the third quarter. Synovus Financial Corp now owns 7,206 shares of the construction company's stock worth $2,148,000 after buying an additional 1,830 shares during the period. Hedge funds and other institutional investors own 90.49% of the company's stock.

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.