Quanta Services (NYSE:PWR - Free Report) had its price objective lowered by Truist Financial from $398.00 to $324.00 in a research note released on Tuesday,Benzinga reports. The brokerage currently has a buy rating on the construction company's stock.
A number of other research firms also recently weighed in on PWR. Daiwa America downgraded shares of Quanta Services from a "strong-buy" rating to a "hold" rating in a research report on Monday, February 24th. Roth Capital raised Quanta Services to a "strong-buy" rating in a research report on Thursday, February 20th. Piper Sandler started coverage on Quanta Services in a research report on Tuesday, April 8th. They set an "overweight" rating and a $286.00 price target on the stock. Bank of America began coverage on Quanta Services in a report on Friday, January 24th. They issued a "buy" rating and a $407.00 price objective for the company. Finally, Stifel Nicolaus dropped their price objective on shares of Quanta Services from $388.00 to $323.00 and set a "buy" rating on the stock in a report on Monday, February 24th. Seven analysts have rated the stock with a hold rating, fourteen have issued a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat.com, Quanta Services currently has an average rating of "Moderate Buy" and a consensus target price of $319.25.
Read Our Latest Analysis on PWR
Quanta Services Stock Up 2.7 %
Shares of NYSE PWR traded up $7.20 during trading on Tuesday, hitting $269.90. The stock had a trading volume of 1,098,254 shares, compared to its average volume of 1,705,356. Quanta Services has a 12 month low of $227.08 and a 12 month high of $365.88. The firm has a fifty day moving average of $267.21 and a two-hundred day moving average of $302.53. The company has a market capitalization of $40.00 billion, a PE ratio of 44.76, a PEG ratio of 1.41 and a beta of 1.04. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.30 and a quick ratio of 1.19.
Quanta Services (NYSE:PWR - Get Free Report) last announced its earnings results on Thursday, February 20th. The construction company reported $2.74 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.62 by $0.12. The firm had revenue of $6.55 billion during the quarter, compared to analyst estimates of $6.61 billion. Quanta Services had a return on equity of 18.00% and a net margin of 3.82%. As a group, equities research analysts forecast that Quanta Services will post 9.34 EPS for the current fiscal year.
Quanta Services Announces Dividend
The business also recently disclosed a quarterly dividend, which was paid on Friday, April 11th. Investors of record on Thursday, April 3rd were given a $0.10 dividend. This represents a $0.40 annualized dividend and a dividend yield of 0.15%. The ex-dividend date of this dividend was Thursday, April 3rd. Quanta Services's dividend payout ratio (DPR) is 6.63%.
Hedge Funds Weigh In On Quanta Services
Hedge funds and other institutional investors have recently bought and sold shares of the stock. Vanguard Group Inc. grew its position in Quanta Services by 1.0% in the fourth quarter. Vanguard Group Inc. now owns 17,009,421 shares of the construction company's stock worth $5,375,828,000 after acquiring an additional 161,277 shares in the last quarter. Capital World Investors lifted its stake in Quanta Services by 14.1% during the fourth quarter. Capital World Investors now owns 7,223,471 shares of the construction company's stock worth $2,282,978,000 after purchasing an additional 891,977 shares during the last quarter. Geode Capital Management LLC boosted its holdings in shares of Quanta Services by 2.9% in the 4th quarter. Geode Capital Management LLC now owns 3,558,827 shares of the construction company's stock worth $1,121,830,000 after purchasing an additional 99,416 shares in the last quarter. Invesco Ltd. increased its position in shares of Quanta Services by 3.7% during the 4th quarter. Invesco Ltd. now owns 1,913,847 shares of the construction company's stock valued at $604,871,000 after purchasing an additional 68,565 shares during the last quarter. Finally, Norges Bank bought a new stake in Quanta Services in the 4th quarter worth approximately $544,937,000. Hedge funds and other institutional investors own 90.49% of the company's stock.
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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