Quanta Services, Inc. (NYSE:PWR) Declares Dividend Increase – $0.10 Per Share

Quanta Services, Inc. (NYSE:PWR) announced a quarterly dividend on Thursday, November 21st,RTT News reports. Shareholders of record on Thursday, January 2nd will be given a dividend of 0.10 per share by the construction company on Monday, January 13th. This represents a $0.40 annualized dividend and a dividend yield of 0.12%. The ex-dividend date is Thursday, January 2nd. This is an increase from Quanta Services’s previous quarterly dividend of $0.09.

Quanta Services has increased its dividend payment by an average of 16.3% annually over the last three years. Quanta Services has a dividend payout ratio of 3.5% meaning its dividend is sufficiently covered by earnings. Equities analysts expect Quanta Services to earn $9.38 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 3.8%.

Quanta Services Price Performance

Quanta Services stock opened at $341.90 on Friday. Quanta Services has a 12-month low of $180.97 and a 12-month high of $343.70. The stock has a market capitalization of $50.47 billion, a P/E ratio of 63.08 and a beta of 1.01. The firm’s 50-day moving average is $307.80 and its two-hundred day moving average is $279.67. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.23 and a quick ratio of 1.19.

Quanta Services (NYSE:PWR) last released its earnings results on Thursday, October 31st. The construction company reported $2.72 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.46 by $0.26. Quanta Services had a net margin of 3.54% and a return on equity of 16.71%. The business had revenue of $6.49 billion for the quarter, compared to analysts’ expectations of $6.56 billion. During the same period last year, the company earned $2.08 earnings per share. The company’s quarterly revenue was up 15.5% on a year-over-year basis. Equities analysts predict that Quanta Services will post 7.88 earnings per share for the current year.

Analysts Set New Price Targets

PWR has been the topic of several research analyst reports. B. Riley raised their target price on shares of Quanta Services from $286.00 to $303.00 and gave the stock a “buy” rating in a research report on Friday, August 2nd. Citigroup raised their price target on shares of Quanta Services from $302.00 to $348.00 and gave the company a “buy” rating in a report on Friday, October 4th. Northland Securities restated an “outperform” rating and issued a $328.00 price target (up previously from $280.00) on shares of Quanta Services in a report on Friday, November 1st. Jefferies Financial Group started coverage on shares of Quanta Services in a report on Wednesday, September 4th. They issued a “hold” rating and a $256.00 price target on the stock. Finally, Robert W. Baird raised their price target on shares of Quanta Services from $320.00 to $333.00 and gave the company an “outperform” rating in a report on Friday, November 1st. Four equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $314.27.

About Quanta Services

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.