Quanta Services, Inc. (PWR) To Go Ex-Dividend on July 1st

Quanta Services, Inc. (NYSE:PWR) announced a quarterly dividend on Friday, May 24th, RTT News reports. Shareholders of record on Monday, July 1st will be paid a dividend of 0.09 per share by the construction company on Friday, July 12th. This represents a $0.36 annualized dividend and a yield of 0.14%. The ex-dividend date is Monday, July 1st.

Quanta Services has raised its dividend payment by an average of 16.3% per year over the last three years. Quanta Services has a payout ratio of 3.7% meaning its dividend is sufficiently covered by earnings. Equities analysts expect Quanta Services to earn $8.83 per share next year, which means the company should continue to be able to cover its $0.36 annual dividend with an expected future payout ratio of 4.1%.

Quanta Services Stock Down 4.9 %

Shares of NYSE:PWR opened at $254.02 on Friday. The company has a market capitalization of $37.19 billion, a price-to-earnings ratio of 49.23 and a beta of 1.05. The company has a quick ratio of 1.32, a current ratio of 1.36 and a debt-to-equity ratio of 0.50. The company has a 50 day moving average of $268.79 and a two-hundred day moving average of $240.53. Quanta Services has a 52-week low of $153.74 and a 52-week high of $286.87.

Quanta Services (NYSE:PWR) last released its earnings results on Thursday, May 2nd. The construction company reported $1.23 EPS for the quarter, beating the consensus estimate of $1.09 by $0.14. The company had revenue of $5.03 billion during the quarter, compared to analysts’ expectations of $4.96 billion. Quanta Services had a return on equity of 16.25% and a net margin of 3.57%. As a group, analysts forecast that Quanta Services will post 7.69 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on PWR shares. Argus raised their price objective on Quanta Services from $285.00 to $310.00 and gave the stock a “buy” rating in a research note on Thursday, May 30th. Citigroup raised their price objective on Quanta Services from $275.00 to $285.00 and gave the stock a “buy” rating in a research note on Monday, April 22nd. B. Riley raised their price objective on Quanta Services from $246.00 to $286.00 and gave the stock a “buy” rating in a research note on Friday, May 3rd. Robert W. Baird raised their price objective on Quanta Services from $265.00 to $287.00 and gave the stock an “outperform” rating in a research note on Friday, May 3rd. Finally, The Goldman Sachs Group raised their price objective on Quanta Services from $259.00 to $286.00 and gave the stock a “buy” rating in a research note on Tuesday, May 28th. Three research analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. Based on data from MarketBeat, Quanta Services presently has a consensus rating of “Moderate Buy” and a consensus price target of $268.85.

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.