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

Quanta Services, Inc. (NYSE:PWR - Get Free Report) announced a quarterly dividend on Friday, March 21st, RTT News reports. Investors of record on Thursday, April 3rd will be given 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 yield of 0.14%. The ex-dividend date of this dividend is Thursday, April 3rd.

Quanta Services has increased its dividend payment by an average of 14.0% per year over the last three years. Quanta Services has a payout ratio of 3.4% meaning its dividend is sufficiently covered by earnings. Research 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 Price Performance

Shares of PWR traded down $2.24 during trading hours on Tuesday, reaching $276.16. 1,095,779 shares of the company traded hands, compared to its average volume of 1,737,492. The stock has a market capitalization of $40.93 billion, a PE ratio of 45.80, a price-to-earnings-growth ratio of 1.41 and a beta of 1.10. The stock has a fifty day simple moving average of $288.60 and a 200 day simple moving average of $304.81. Quanta Services has a fifty-two week low of $227.11 and a fifty-two week high of $365.88. The company has a quick ratio of 1.19, a current ratio of 1.30 and a debt-to-equity ratio of 0.56.

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

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Institutional Investors 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 Quanta Services, Inc. (NYSE:PWR - Free Report) in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm purchased 943 shares of the construction company's stock, valued at approximately $298,000. Hedge funds and other institutional investors own 90.49% of the company's stock.

Wall Street Analyst Weigh In

Several equities analysts recently commented on the stock. Roth Mkm started coverage on shares of Quanta Services in a research report on Friday, February 21st. They set a "buy" rating and a $350.00 price target for the company. Truist Financial cut their target price on Quanta Services from $399.00 to $398.00 and set a "buy" rating on the stock in a research report on Thursday, January 16th. JPMorgan Chase & Co. boosted their price target on Quanta Services from $297.00 to $323.00 and gave the company a "neutral" rating in a research report on Tuesday, January 28th. Guggenheim started coverage on Quanta Services in a report on Wednesday, January 8th. They issued a "neutral" rating on the stock. Finally, Stifel Nicolaus decreased their target price on Quanta Services from $388.00 to $323.00 and set a "buy" rating for the company in a report on Monday, February 24th. Seven research analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, Quanta Services presently has a consensus rating of "Moderate Buy" and a consensus target price of $326.79.

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.