Quanta Services (NYSE:PWR) Stock Rating Upgraded by Piper Sandler

Piper Sandler upgraded shares of Quanta Services (NYSE:PWR) to a strong-buy rating in a research report released on Monday,Zacks.com reports.

Several other analysts also recently issued reports on PWR. JPMorgan Chase & Co. upped their price objective on shares of Quanta Services from $297.00 to $323.00 and gave the stock a “neutral” rating in a report on Tuesday, January 28th. Daiwa Capital Markets cut shares of Quanta Services from an “outperform” rating to a “neutral” rating in a report on Monday, February 24th. Daiwa America lowered Quanta Services from a “strong-buy” rating to a “hold” rating in a research note on Monday, February 24th. BMO Capital Markets raised Quanta Services from a “market perform” rating to an “outperform” rating and lowered their target price for the company from $338.00 to $316.00 in a report on Tuesday, February 25th. Finally, Roth Mkm assumed coverage on Quanta Services in a report on Friday, February 21st. They set a “buy” rating and a $350.00 price target for the company. Seven analysts have rated the stock with a hold rating, fourteen have given a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $319.25.

Quanta Services Price Performance

NYSE PWR opened at $269.86 on Monday. Quanta Services has a fifty-two week low of $227.08 and a fifty-two week high of $365.88. The stock’s 50-day moving average is $268.59 and its two-hundred day moving average is $302.97. The firm has a market cap of $39.99 billion, a P/E ratio of 44.75, a price-to-earnings-growth 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) last issued its quarterly earnings data on Thursday, February 20th. The construction company reported $2.74 earnings per share for the quarter, beating analysts’ consensus estimates of $2.62 by $0.12. The business had revenue of $6.55 billion for the quarter, compared to the consensus estimate of $6.61 billion. Quanta Services had a return on equity of 18.00% and a net margin of 3.82%. On average, analysts anticipate that Quanta Services will post 9.34 earnings per share for the current fiscal year.

Quanta Services Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, April 11th. Stockholders of record on Thursday, April 3rd will be issued 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 is Thursday, April 3rd. Quanta Services’s dividend payout ratio (DPR) is 6.63%.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Janus Henderson Group PLC raised its position in shares of Quanta Services by 4.9% during the third quarter. Janus Henderson Group PLC now owns 17,221 shares of the construction company’s stock worth $5,134,000 after purchasing an additional 800 shares during the period. MML Investors Services LLC lifted its stake in Quanta Services by 8.0% in the third quarter. MML Investors Services LLC now owns 22,086 shares of the construction company’s stock valued at $6,585,000 after buying an additional 1,643 shares in the last quarter. LRI Investments LLC boosted its holdings in shares of Quanta Services by 13.5% in the third quarter. LRI Investments LLC now owns 378 shares of the construction company’s stock valued at $123,000 after buying an additional 45 shares during the period. Prestige Wealth Management Group LLC bought a new position in Quanta Services during the 3rd quarter worth about $30,000. Finally, Geode Capital Management LLC raised its stake in shares of Quanta Services by 1.4% in the 3rd quarter. Geode Capital Management LLC now owns 3,459,411 shares of the construction company’s stock valued at $1,027,887,000 after purchasing an additional 46,357 shares during the period. 90.49% of the stock is currently owned by institutional investors.

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.