Quanta Services (NYSE:PWR) Price Target Raised to $432.00 at Stifel Nicolaus

Quanta Services (NYSE:PWR) had its price target hoisted by Stifel Nicolaus from $411.00 to $432.00 in a report released on Monday morning,Benzinga reports. Stifel Nicolaus currently has a buy rating on the construction company’s stock.

A number of other analysts have also weighed in on the stock. Wall Street Zen raised shares of Quanta Services from a “hold” rating to a “buy” rating in a report on Friday, June 27th. Piper Sandler reissued an “overweight” rating and issued a $370.00 price target (up previously from $360.00) on shares of Quanta Services in a report on Tuesday, May 27th. BMO Capital Markets lowered shares of Quanta Services from an “outperform” rating to a “market perform” rating and raised their price target for the company from $352.00 to $400.00 in a report on Thursday, July 17th. Truist Financial raised their price objective on shares of Quanta Services from $375.00 to $472.00 and gave the company a “buy” rating in a research note on Monday. Finally, Northland Capmk cut shares of Quanta Services from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, July 2nd. Eleven analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $387.00.

Quanta Services Stock Performance

Shares of Quanta Services stock opened at $393.19 on Monday. The company has a debt-to-equity ratio of 0.59, a current ratio of 1.37 and a quick ratio of 1.32. The firm has a market cap of $58.30 billion, a P/E ratio of 60.87, a P/E/G ratio of 2.71 and a beta of 1.10. The firm has a 50 day simple moving average of $376.54 and a 200 day simple moving average of $319.21. Quanta Services has a fifty-two week low of $227.08 and a fifty-two week high of $424.94.

Quanta Services (NYSE:PWR) last issued its quarterly earnings results on Thursday, July 31st. The construction company reported $2.48 earnings per share for the quarter, beating analysts’ consensus estimates of $2.44 by $0.04. The business had revenue of $6.77 billion during the quarter, compared to analyst estimates of $6.55 billion. Quanta Services had a net margin of 3.73% and a return on equity of 18.41%. Quanta Services’s revenue for the quarter was up 21.1% compared to the same quarter last year. During the same quarter last year, the business posted $1.90 earnings per share. Sell-side analysts predict 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 was paid on Friday, July 11th. Stockholders of record on Tuesday, July 1st were given a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a dividend yield of 0.1%. The ex-dividend date of this dividend was Tuesday, July 1st. Quanta Services’s dividend payout ratio (DPR) is currently 6.19%.

Hedge Funds Weigh In On Quanta Services

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Banque Transatlantique SA acquired a new stake in shares of Quanta Services during the fourth quarter worth $25,000. Cullen Frost Bankers Inc. acquired a new stake in shares of Quanta Services during the first quarter worth $25,000. Copia Wealth Management raised its holdings in shares of Quanta Services by 509.1% during the second quarter. Copia Wealth Management now owns 67 shares of the construction company’s stock worth $25,000 after acquiring an additional 56 shares during the period. Quarry LP acquired a new stake in shares of Quanta Services during the fourth quarter worth $26,000. Finally, SOA Wealth Advisors LLC. raised its holdings in shares of Quanta Services by 159.3% during the second quarter. SOA Wealth Advisors LLC. now owns 70 shares of the construction company’s stock worth $26,000 after acquiring an additional 43 shares during the period. 90.49% of the stock is owned by institutional investors.

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.