Stifel Nicolaus Issues Positive Forecast for Quanta Services (NYSE:PWR) Stock Price

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

A number of other analysts have also commented on PWR. Guggenheim initiated coverage on Quanta Services in a report on Wednesday, January 8th. They set a “neutral” rating on the stock. TD Cowen lifted their target price on Quanta Services from $280.00 to $335.00 and gave the stock a “buy” rating in a research note on Tuesday, October 15th. Truist Financial reduced 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. Daiwa Capital Markets began coverage on shares of Quanta Services in a research report on Friday, December 6th. They issued an “outperform” rating and a $355.00 price objective on the stock. Finally, UBS Group increased their target price on shares of Quanta Services from $313.00 to $367.00 and gave the company a “buy” rating in a research report on Wednesday, October 23rd. Four equities research analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $325.06.

Quanta Services Trading Down 0.3 %

NYSE PWR opened at $357.02 on Wednesday. The company has a current ratio of 1.23, a quick ratio of 1.19 and a debt-to-equity ratio of 0.58. The firm has a market capitalization of $52.70 billion, a P/E ratio of 65.87 and a beta of 1.06. The business has a fifty day simple moving average of $330.71 and a 200 day simple moving average of $298.51. Quanta Services has a 12 month low of $187.27 and a 12 month high of $365.88.

Quanta Services (NYSE:PWR) last released its quarterly earnings results on Thursday, October 31st. The construction company reported $2.72 earnings per share for the quarter, beating analysts’ consensus estimates of $2.46 by $0.26. The company had revenue of $6.49 billion for the quarter, compared to analyst estimates of $6.56 billion. Quanta Services had a net margin of 3.54% and a return on equity of 16.71%. The firm’s revenue was up 15.5% on a year-over-year basis. During the same period last year, the firm earned $2.08 earnings per share. On average, analysts predict that Quanta Services will post 7.9 EPS for the current fiscal year.

Quanta Services Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, January 13th. Shareholders of record on Thursday, January 2nd were paid a $0.10 dividend. The ex-dividend date of this dividend was Thursday, January 2nd. This represents a $0.40 annualized dividend and a yield of 0.11%. This is an increase from Quanta Services’s previous quarterly dividend of $0.09. Quanta Services’s dividend payout ratio (DPR) is currently 7.38%.

Institutional Investors Weigh In On Quanta Services

Institutional investors and hedge funds have recently modified their holdings of the company. Webster Bank N. A. increased its holdings in Quanta Services by 4,050.0% during the 4th quarter. Webster Bank N. A. now owns 83 shares of the construction company’s stock worth $26,000 after acquiring an additional 81 shares during the period. Prestige Wealth Management Group LLC purchased a new position in shares of Quanta Services during the 3rd quarter valued at $30,000. Legacy Investment Solutions LLC bought a new position in shares of Quanta Services in the third quarter worth $31,000. Sound Income Strategies LLC raised its position in shares of Quanta Services by 700.0% in the fourth quarter. Sound Income Strategies LLC now owns 104 shares of the construction company’s stock worth $33,000 after buying an additional 91 shares in the last quarter. Finally, Versant Capital Management Inc boosted its stake in Quanta Services by 62.5% during the fourth quarter. Versant Capital Management Inc now owns 117 shares of the construction company’s stock valued at $37,000 after buying an additional 45 shares during the period. 90.49% of the stock is owned by hedge funds and other institutional investors.

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.