Quanta Services, Inc. (NYSE:PWR) Receives $326.79 Average Target Price from Brokerages

by · The Markets Daily

Shares of Quanta Services, Inc. (NYSE:PWR – Get Free Report) have earned an average recommendation of “Moderate Buy” from the twenty-two ratings firms that are presently covering the firm, Marketbeat.com reports. Seven research analysts have rated the stock with a hold recommendation, fourteen have issued a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12 month price target among analysts that have covered the stock in the last year is $326.79.

Several equities analysts have recently commented on PWR shares. Truist Financial lowered their price target on shares of Quanta Services from $399.00 to $398.00 and set a “buy” rating for the company in a research report on Thursday, January 16th. B. Riley reiterated a “neutral” rating and set a $300.00 price objective (down from $343.00) on shares of Quanta Services in a research report on Wednesday, March 19th. Citigroup cut their target price on Quanta Services from $394.00 to $371.00 and set a “buy” rating on the stock in a research note on Wednesday, January 29th. Stifel Nicolaus decreased their price target on Quanta Services from $388.00 to $323.00 and set a “buy” rating for the company in a research note on Monday, February 24th. Finally, Daiwa America downgraded shares of Quanta Services from a “strong-buy” rating to a “hold” rating in a report on Monday, February 24th.

Check Out Our Latest Stock Report on Quanta Services

Quanta Services Trading Down 4.8 %

Quanta Services stock opened at $251.87 on Friday. 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 1 year low of $227.11 and a 1 year high of $365.88. The firm’s 50-day moving average is $275.52 and its 200-day moving average is $304.22. The company has a market cap of $37.33 billion, a P/E ratio of 41.77, a PEG ratio of 1.41 and a beta of 1.10.

Quanta Services (NYSE:PWR – Get Free Report) last posted its earnings results on Thursday, February 20th. The construction company reported $2.74 EPS for the quarter, beating the consensus estimate of $2.62 by $0.12. Quanta Services had a return on equity of 18.00% and a net margin of 3.82%. The company had revenue of $6.55 billion during the quarter, compared to analyst estimates of $6.61 billion. On average, equities analysts expect that Quanta Services will post 9.34 earnings per share for the current year.

Quanta Services Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, April 11th. Shareholders of record on Thursday, April 3rd will be issued a $0.10 dividend. This represents a $0.40 annualized dividend and a dividend yield of 0.16%. The ex-dividend date is Thursday, April 3rd. Quanta Services’s payout ratio is 6.63%.

Hedge Funds Weigh In On Quanta Services

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Vanguard Group Inc. increased its holdings in shares of Quanta Services by 1.0% in the 4th quarter. Vanguard Group Inc. now owns 17,009,421 shares of the construction company’s stock valued at $5,375,828,000 after purchasing an additional 161,277 shares during the period. Capital World Investors grew its position in Quanta Services by 14.1% during the fourth quarter. Capital World Investors now owns 7,223,471 shares of the construction company’s stock valued at $2,282,978,000 after purchasing an additional 891,977 shares in the last quarter. State Street Corp lifted its position in Quanta Services by 1.6% in the 3rd quarter. State Street Corp now owns 5,748,637 shares of the construction company’s stock worth $1,713,956,000 after buying an additional 89,975 shares in the last quarter. Geode Capital Management LLC lifted its position in Quanta Services by 2.9% in the 4th quarter. Geode Capital Management LLC now owns 3,558,827 shares of the construction company’s stock worth $1,121,830,000 after buying an additional 99,416 shares in the last quarter. Finally, Invesco Ltd. boosted its stake in shares of Quanta Services by 3.7% during the 4th quarter. Invesco Ltd. now owns 1,913,847 shares of the construction company’s stock valued at $604,871,000 after buying an additional 68,565 shares during the period. 90.49% of the stock is currently owned by hedge funds and other institutional investors.

Quanta Services Company Profile

(Get Free Report

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.

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