Quanta Services (NYSE:PWR) Given New $388.00 Price Target at Stifel Nicolaus

Quanta Services (NYSE:PWR) had its target price raised by Stifel Nicolaus from $374.00 to $388.00 in a report issued on Wednesday morning,Benzinga reports. The brokerage currently has a buy rating on the construction company’s stock.

PWR has been the subject of a number of other reports. TD Cowen boosted their price objective on shares of Quanta Services from $280.00 to $335.00 and gave the stock a “buy” rating in a report on Tuesday, October 15th. Daiwa America upgraded shares of Quanta Services to a “strong-buy” rating in a research report on Friday, December 6th. Citigroup lifted their price objective on Quanta Services from $348.00 to $394.00 and gave the stock a “buy” rating in a report on Monday, December 9th. Daiwa Capital Markets began coverage on Quanta Services in a report on Friday, December 6th. They set an “outperform” rating and a $355.00 target price for the company. Finally, Northland Securities reaffirmed an “outperform” rating and issued a $328.00 price target (up from $280.00) on shares of Quanta Services in a research note on Friday, November 1st. Four research analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $325.06.

Quanta Services Stock Down 0.3 %

Shares of NYSE:PWR opened at $357.02 on Wednesday. The firm has a market capitalization of $52.70 billion, a PE ratio of 65.87 and a beta of 1.06. The company has a debt-to-equity ratio of 0.58, a quick ratio of 1.19 and a current ratio of 1.23. Quanta Services has a 52-week low of $187.27 and a 52-week high of $365.88. The firm has a fifty day moving average of $330.71 and a 200 day moving average of $298.51.

Quanta Services (NYSE:PWR) last posted its quarterly earnings data on Thursday, October 31st. The construction company reported $2.72 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.46 by $0.26. The firm had revenue of $6.49 billion during the quarter, compared to analysts’ expectations of $6.56 billion. Quanta Services had a return on equity of 16.71% and a net margin of 3.54%. The company’s revenue for the quarter was up 15.5% compared to the same quarter last year. During the same period in the prior year, the business earned $2.08 EPS. As a group, research analysts anticipate that Quanta Services will post 7.9 EPS for the current fiscal year.

Quanta Services Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, January 13th. Shareholders of record on Thursday, January 2nd were given a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a yield of 0.11%. This is a boost from Quanta Services’s previous quarterly dividend of $0.09. The ex-dividend date was Thursday, January 2nd. Quanta Services’s payout ratio is presently 7.38%.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the company. Versor Investments LP bought a new position in Quanta Services in the third quarter worth $406,000. Principal Financial Group Inc. grew its position in shares of Quanta Services by 5.6% in the 3rd quarter. Principal Financial Group Inc. now owns 207,720 shares of the construction company’s stock worth $61,932,000 after buying an additional 11,012 shares during the period. Asio Capital LLC bought a new position in shares of Quanta Services in the 3rd quarter worth about $2,715,000. Waverton Investment Management Ltd boosted its stake in Quanta Services by 6.5% during the third quarter. Waverton Investment Management Ltd now owns 41,963 shares of the construction company’s stock worth $12,509,000 after acquiring an additional 2,557 shares in the last quarter. Finally, Synovus Financial Corp grew its holdings in Quanta Services by 34.0% in the third quarter. Synovus Financial Corp now owns 7,206 shares of the construction company’s stock worth $2,148,000 after purchasing an additional 1,830 shares during the period. Institutional investors 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.