Quanta Services, Inc. (NYSE:PWR) Plans Quarterly Dividend of $0.10

Quanta Services, Inc. (NYSE:PWR) announced a quarterly dividend on Friday, March 21st, RTT News reports. Shareholders of record on Thursday, April 3rd will be paid a dividend of 0.10 per share by the construction company on Friday, April 11th. This represents a $0.40 annualized dividend and a yield of 0.15%.

Quanta Services has raised its dividend by an average of 14.0% per year over the last three years. Quanta Services has a dividend payout ratio of 3.4% meaning its dividend is sufficiently covered by earnings. Equities analysts expect Quanta Services to earn $10.38 per share next year, which means the company should continue to be able to cover its $0.40 annual dividend with an expected future payout ratio of 3.9%.

Quanta Services Stock Down 1.0 %

Shares of PWR stock traded down $2.67 during midday trading on Friday, reaching $268.43. 1,605,551 shares of the stock were exchanged, compared to its average volume of 1,756,605. Quanta Services has a 1 year low of $227.11 and a 1 year high of $365.88. The firm has a market cap of $39.78 billion, a PE ratio of 44.52, a price-to-earnings-growth ratio of 1.41 and a beta of 1.10. The company’s 50 day moving average is $290.21 and its two-hundred day moving average is $303.99. The company has a current ratio of 1.30, a quick ratio of 1.19 and a debt-to-equity ratio of 0.56.

Quanta Services (NYSE:PWR) last issued its quarterly earnings results on Thursday, February 20th. The construction company reported $2.74 earnings per share for the quarter, topping the consensus estimate of $2.62 by $0.12. The company had revenue of $6.55 billion for the quarter, compared to analysts’ expectations of $6.61 billion. Quanta Services had a return on equity of 18.00% and a net margin of 3.82%. On average, equities research analysts predict that Quanta Services will post 9.34 EPS for the current year.

Institutional Inflows and Outflows

An institutional investor recently bought a new position in Quanta Services stock. Brighton Jones LLC purchased a new position in Quanta Services, Inc. (NYSE:PWR) during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm purchased 943 shares of the construction company’s stock, valued at approximately $298,000. 90.49% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on PWR shares. Daiwa America cut shares of Quanta Services from a “strong-buy” rating to a “hold” rating in a research report on Monday, February 24th. BMO Capital Markets raised shares of Quanta Services from a “market perform” rating to an “outperform” rating and decreased their target price for the company from $338.00 to $316.00 in a research note on Tuesday, February 25th. Stifel Nicolaus dropped their price target on Quanta Services from $388.00 to $323.00 and set a “buy” rating on the stock in a research report on Monday, February 24th. Truist Financial reduced their price objective on Quanta Services from $399.00 to $398.00 and set a “buy” rating for the company in a research report on Thursday, January 16th. Finally, B. Riley reissued a “neutral” rating and issued a $300.00 target price (down from $343.00) on shares of Quanta Services in a report on Wednesday. Seven 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. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $326.79.

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.