Quanta Services (NYSE:PWR) Price Target Raised to $355.00

Quanta Services (NYSE:PWR) had its target price boosted by TD Cowen from $335.00 to $355.00 in a report issued on Wednesday, Marketbeat Ratings reports. They currently have a buy rating on the construction company’s stock.

A number of other research analysts have also issued reports on the stock. Stifel Nicolaus boosted their target price on shares of Quanta Services from $306.00 to $363.00 and gave the company a “buy” rating in a research note on Monday, May 5th. Evercore ISI increased their price objective on Quanta Services from $331.00 to $360.00 and gave the stock an “outperform” rating in a report on Friday, May 2nd. Guggenheim assumed coverage on Quanta Services in a research note on Wednesday, January 8th. They set a “neutral” rating on the stock. JPMorgan Chase & Co. raised their price target on Quanta Services from $297.00 to $323.00 and gave the company a “neutral” rating in a report on Tuesday, January 28th. Finally, Daiwa America raised shares of Quanta Services from a “hold” rating to a “strong-buy” rating in a report on Friday, April 11th. Six equities research analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $344.35.

Quanta Services Price Performance

PWR opened at $326.00 on Wednesday. Quanta Services has a 1-year low of $227.08 and a 1-year high of $365.88. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.19 and a current ratio of 1.30. The company has a market capitalization of $48.33 billion, a P/E ratio of 54.06, a PEG ratio of 1.41 and a beta of 1.02. The company has a 50-day moving average of $271.55 and a 200-day moving average of $300.68.

Quanta Services (NYSE:PWR) last issued its earnings results on Thursday, May 1st. The construction company reported $1.78 EPS for the quarter, beating analysts’ consensus estimates of $1.72 by $0.06. Quanta Services had a return on equity of 18.00% and a net margin of 3.82%. The company had revenue of $6.23 billion during the quarter, compared to the consensus estimate of $5.88 billion. During the same period in the previous year, the firm posted $1.41 earnings per share. Quanta Services’s quarterly revenue was up 23.9% compared to the same quarter last year. Equities analysts expect that Quanta Services will post 9.34 EPS for the current fiscal year.

Quanta Services Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, April 11th. Shareholders of record on Thursday, April 3rd were paid a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a yield of 0.12%. The ex-dividend date of this dividend was Thursday, April 3rd. Quanta Services’s dividend payout ratio is presently 6.45%.

Hedge Funds Weigh In On Quanta Services

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Banque Transatlantique SA purchased a new stake in Quanta Services in the 4th quarter worth about $25,000. Quarry LP purchased a new stake in shares of Quanta Services in the fourth quarter worth approximately $26,000. Webster Bank N. A. boosted its holdings 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 purchasing an additional 81 shares during the period. Sierra Ocean LLC purchased a new position in Quanta Services during the fourth quarter valued at approximately $27,000. Finally, Cullen Frost Bankers Inc. acquired a new position in Quanta Services in the 1st quarter valued at approximately $25,000. Institutional investors and hedge funds 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.