Quanta Services, Inc. (NYSE:PWR) Receives Consensus Rating of “Moderate Buy” from Brokerages

Shares of Quanta Services, Inc. (NYSE:PWR) have earned an average recommendation of “Moderate Buy” from the twenty-three ratings firms that are covering the firm, Marketbeat reports. Six investment analysts have rated the stock with a hold rating, fourteen have issued a buy rating and three have given a strong buy rating to the company. The average 12-month target price among analysts that have updated their coverage on the stock in the last year is $319.25.

A number of research analysts have recently commented on the company. Truist Financial dropped their price objective on Quanta Services from $398.00 to $324.00 and set a “buy” rating on the stock in a report on Tuesday, April 8th. Roth Mkm assumed coverage on shares of Quanta Services in a report on Friday, February 21st. They issued a “buy” rating and a $350.00 target price for the company. Citigroup lowered their target price on shares of Quanta Services from $394.00 to $371.00 and set a “buy” rating on the stock in a research report on Wednesday, January 29th. Piper Sandler started coverage on Quanta Services in a report on Tuesday, April 8th. They set an “overweight” rating and a $286.00 price target on the stock. Finally, Bank of America assumed coverage on shares of Quanta Services in a research report on Friday, January 24th. They set a “buy” rating and a $407.00 price objective for the company.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the business. Balefire LLC grew its holdings in Quanta Services by 62.0% during the 1st quarter. Balefire LLC now owns 1,395 shares of the construction company’s stock valued at $355,000 after purchasing an additional 534 shares in the last quarter. KPP Advisory Services LLC lifted its stake in Quanta Services by 12.7% during the first quarter. KPP Advisory Services LLC now owns 5,365 shares of the construction company’s stock worth $1,364,000 after purchasing an additional 603 shares during the last quarter. Western Financial Corp CA grew its holdings in shares of Quanta Services by 7.6% during the first quarter. Western Financial Corp CA now owns 4,125 shares of the construction company’s stock valued at $1,048,000 after purchasing an additional 290 shares during the last quarter. Western Wealth Management LLC increased its holdings in shares of Quanta Services by 4.0% in the 1st quarter. Western Wealth Management LLC now owns 1,786 shares of the construction company’s stock worth $454,000 after acquiring an additional 68 shares during the period. Finally, Sequoia Financial Advisors LLC raised its stake in shares of Quanta Services by 1,068.4% during the first quarter. Sequoia Financial Advisors LLC now owns 65,781 shares of the construction company’s stock valued at $16,720,000 after purchasing an additional 60,151 shares in the last quarter. 90.49% of the stock is owned by institutional investors and hedge funds.

Quanta Services Stock Performance

NYSE:PWR opened at $274.93 on Thursday. The stock has a market capitalization of $40.76 billion, a P/E ratio of 45.59, a PEG ratio of 1.41 and a beta of 1.04. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.19 and a current ratio of 1.30. Quanta Services has a fifty-two week low of $227.08 and a fifty-two week high of $365.88. The company has a 50 day moving average price of $261.88 and a 200 day moving average price of $300.80.

Quanta Services (NYSE:PWR) last posted its earnings results on Thursday, February 20th. The construction company reported $2.74 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.62 by $0.12. The firm had revenue of $6.55 billion for 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%. Equities research analysts forecast that Quanta Services will post 9.34 EPS for the current year.

Quanta Services Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, April 11th. Shareholders of record on Thursday, April 3rd were given a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a yield of 0.15%. The ex-dividend date of this dividend was Thursday, April 3rd. Quanta Services’s dividend payout ratio (DPR) is presently 6.63%.

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.