Quanta Services, Inc. (NYSE:PWR) Declares Quarterly Dividend of $0.08

Quanta Services, Inc. (NYSE:PWR – Get Rating) announced a quarterly dividend on Wednesday, May 24th, Zacks reports. Stockholders of record on Monday, July 3rd will be given a dividend of 0.08 per share by the construction company on Friday, July 14th. This represents a $0.32 dividend on an annualized basis and a dividend yield of 0.19%. The ex-dividend date of this dividend is Friday, June 30th.

Quanta Services has increased its dividend payment by an average of 19.5% per year over the last three years and has raised its dividend annually for the last 4 consecutive years. Quanta Services has a payout ratio of 3.9% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect Quanta Services to earn $7.62 per share next year, which means the company should continue to be able to cover its $0.32 annual dividend with an expected future payout ratio of 4.2%.

Quanta Services Price Performance

PWR stock opened at $166.56 on Thursday. Quanta Services has a twelve month low of $112.86 and a twelve month high of $176.29. The company has a current ratio of 1.63, a quick ratio of 1.58 and a debt-to-equity ratio of 0.74. The company has a market capitalization of $24.18 billion, a P/E ratio of 49.13 and a beta of 1.08. The business has a 50 day simple moving average of $165.89 and a 200-day simple moving average of $155.25.

Quanta Services (NYSE:PWR – Get Rating) last issued its quarterly earnings results on Thursday, February 23rd. The construction company reported $1.54 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.48 by $0.06. Quanta Services had a return on equity of 15.72% and a net margin of 2.86%. The firm had revenue of $4.42 billion for the quarter, compared to analysts’ expectations of $4.27 billion. As a group, equities analysts anticipate that Quanta Services will post 6.42 EPS for the current year.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on PWR. The Goldman Sachs Group boosted their price objective on shares of Quanta Services from $150.00 to $171.00 and gave the company a “neutral” rating in a research note on Monday, April 17th. Robert W. Baird raised their price objective on shares of Quanta Services from $173.00 to $186.00 in a research report on Friday, May 5th. DA Davidson raised their price target on Quanta Services from $160.00 to $170.00 in a report on Tuesday, May 9th. KeyCorp increased their price objective on Quanta Services from $174.00 to $190.00 in a research report on Monday, April 24th. Finally, Northland Securities increased their price target on shares of Quanta Services from $171.00 to $190.00 in a report on Thursday, May 18th. Two research analysts have rated the stock with a hold rating and six have given a buy rating to the company. Based on data from MarketBeat, Quanta Services has a consensus rating of “Moderate Buy” and a consensus target price of $177.91.

Insider Buying and Selling

In other Quanta Services news, CEO Earl C. Jr. Austin sold 85,000 shares of the firm’s stock in a transaction on Thursday, May 11th. The stock was sold at an average price of $171.32, for a total transaction of $14,562,200.00. Following the completion of the transaction, the chief executive officer now owns 730,890 shares of the company’s stock, valued at $125,216,074.80. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In related news, EVP Derrick A. Jensen sold 100,000 shares of the company’s stock in a transaction on Monday, May 8th. The stock was sold at an average price of $169.36, for a total value of $16,936,000.00. Following the completion of the transaction, the executive vice president now directly owns 282,225 shares in the company, valued at $47,797,626. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Earl C. Jr. Austin sold 85,000 shares of the firm’s stock in a transaction dated Thursday, May 11th. The stock was sold at an average price of $171.32, for a total value of $14,562,200.00. Following the completion of the sale, the chief executive officer now directly owns 730,890 shares in the company, valued at $125,216,074.80. The disclosure for this sale can be found here. Insiders sold 276,646 shares of company stock worth $46,856,598 in the last ninety days. Insiders own 1.20% of the company’s stock.

Hedge Funds Weigh In On Quanta Services

Large investors have recently bought and sold shares of the stock. ICA Group Wealth Management LLC acquired a new stake in shares of Quanta Services during the 4th quarter worth $26,000. Coppell Advisory Solutions Corp. acquired a new stake in Quanta Services during the fourth quarter worth about $28,000. Harbour Investments Inc. lifted its stake in shares of Quanta Services by 97.4% in the 4th quarter. Harbour Investments Inc. now owns 300 shares of the construction company’s stock valued at $43,000 after purchasing an additional 148 shares in the last quarter. Sunbelt Securities Inc. purchased a new stake in shares of Quanta Services during the 1st quarter worth about $62,000. Finally, Belpointe Asset Management LLC increased its position in Quanta Services by 23.6% during the 1st quarter. Belpointe Asset Management LLC now owns 403 shares of the construction company’s stock worth $67,000 after purchasing an additional 77 shares in the last quarter. Hedge funds and other institutional investors own 89.29% of the company’s stock.

Quanta Services Company Profile

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Quanta Services, Inc engages in the provision of comprehensive infrastructure solutions to the electric power, oil and gas, and communication industries. It operates through the following segments: Electric Power Infrastructure Solutions, Renewable Energy Infrastructure Solutions, and Underground Utility and Infrastructure Solutions.