Quanta Services, Inc. (NYSE:PWR - Get Free Report)'s share price gapped up before the market opened on Tuesday after JPMorgan Chase & Co. raised their price target on the stock from $297.00 to $323.00. The stock had previously closed at $292.43, but opened at $311.42. JPMorgan Chase & Co. currently has a neutral rating on the stock. Quanta Services shares last traded at $296.67, with a volume of 476,957 shares.
Other research analysts also recently issued research reports about the stock. Robert W. Baird increased their price objective on shares of Quanta Services from $320.00 to $333.00 and gave the company an "outperform" rating in a report on Friday, November 1st. Daiwa Capital Markets began coverage on shares of Quanta Services in a research note on Friday, December 6th. They set an "outperform" rating and a $355.00 price target for the company. Truist Financial decreased their target price on Quanta Services from $399.00 to $398.00 and set a "buy" rating for the company in a research report on Thursday, January 16th. Guggenheim initiated coverage on Quanta Services in a research note on Wednesday, January 8th. They issued a "neutral" rating on the stock. Finally, TD Cowen lifted their price objective on shares of Quanta Services from $280.00 to $335.00 and gave the company a "buy" rating in a report on Tuesday, October 15th. Four investment analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $331.41.
Check Out Our Latest Report on PWR
Institutional Investors Weigh In On Quanta Services
Hedge funds have recently made changes to their positions in the business. Webster Bank N. A. increased its position in shares of Quanta Services by 4,050.0% during the fourth quarter. Webster Bank N. A. now owns 83 shares of the construction company's stock worth $26,000 after acquiring an additional 81 shares during the last quarter. Prestige Wealth Management Group LLC bought a new stake in Quanta Services in the 3rd quarter valued at about $30,000. Legacy Investment Solutions LLC bought a new position in Quanta Services in the 3rd quarter worth approximately $31,000. Sound Income Strategies LLC raised its stake in shares of Quanta Services by 700.0% during the fourth quarter. Sound Income Strategies LLC now owns 104 shares of the construction company's stock valued at $33,000 after purchasing an additional 91 shares in the last quarter. Finally, Versant Capital Management Inc lifted its stake in shares of Quanta Services by 62.5% in the 4th quarter. Versant Capital Management Inc now owns 117 shares of the construction company's stock worth $37,000 after acquiring an additional 45 shares during the period. Institutional investors and hedge funds own 90.49% of the company's stock.
Quanta Services Trading Up 0.4 %
The company has a current ratio of 1.23, a quick ratio of 1.19 and a debt-to-equity ratio of 0.58. The firm has a 50-day moving average price of $330.55 and a 200-day moving average price of $300.60. The company has a market capitalization of $43.36 billion, a price-to-earnings ratio of 54.19 and a beta of 1.06.
Quanta Services (NYSE:PWR - Get Free Report) last released its earnings results on Thursday, October 31st. The construction company reported $2.72 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.46 by $0.26. The company had revenue of $6.49 billion during the quarter, compared to analyst estimates of $6.56 billion. Quanta Services had a return on equity of 16.71% and a net margin of 3.54%. The company's revenue for the quarter was up 15.5% on a year-over-year basis. During the same quarter in the prior year, the company earned $2.08 earnings per share. As a group, sell-side analysts predict that Quanta Services, Inc. will post 7.9 EPS for the current year.
Quanta Services Increases Dividend
The business also recently announced a quarterly dividend, which was paid on Monday, January 13th. Investors of record on Thursday, January 2nd were paid a dividend of $0.10 per share. This is a boost from Quanta Services's previous quarterly dividend of $0.09. This represents a $0.40 annualized dividend and a yield of 0.14%. The ex-dividend date of this dividend was Thursday, January 2nd. Quanta Services's dividend payout ratio is presently 7.38%.
Quanta Services Company Profile
(
Get Free Report)
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.
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