Quanta Services Inc Announces Quarterly Dividend of $0.05 (NYSE:PWR)

Quanta Services Inc (NYSE:PWR) announced a quarterly dividend on Friday, May 29th, RTT News reports. Stockholders of record on Wednesday, July 1st will be given a dividend of 0.05 per share by the construction company on Wednesday, July 15th. This represents a $0.20 dividend on an annualized basis and a dividend yield of 0.52%. The ex-dividend date is Tuesday, June 30th.

Quanta Services has a payout ratio of 6.2% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect Quanta Services to earn $3.50 per share next year, which means the company should continue to be able to cover its $0.20 annual dividend with an expected future payout ratio of 5.7%.

Shares of PWR stock opened at $38.64 on Monday. The stock has a fifty day moving average of $36.56 and a 200 day moving average of $36.97. Quanta Services has a 52 week low of $23.77 and a 52 week high of $44.09. The firm has a market capitalization of $5.32 billion, a price-to-earnings ratio of 17.81, a PEG ratio of 0.95 and a beta of 1.14. The company has a quick ratio of 1.75, a current ratio of 1.78 and a debt-to-equity ratio of 0.47.

Quanta Services (NYSE:PWR) last announced its quarterly earnings results on Thursday, May 7th. The construction company reported $0.47 EPS for the quarter, topping analysts’ consensus estimates of $0.46 by $0.01. Quanta Services had a return on equity of 9.72% and a net margin of 2.65%. The company had revenue of $2.76 billion during the quarter, compared to analyst estimates of $2.74 billion. During the same quarter last year, the firm posted $0.96 earnings per share. The firm’s revenue was down 1.5% on a year-over-year basis. Equities research analysts anticipate that Quanta Services will post 2.8 earnings per share for the current year.

Several equities analysts have commented on PWR shares. Citigroup lowered their price objective on Quanta Services from $50.00 to $41.00 and set a “buy” rating for the company in a research report on Wednesday, April 1st. B. Riley lowered their price objective on Quanta Services from $43.00 to $42.00 and set a “buy” rating for the company in a research report on Friday, May 8th. Credit Suisse Group lowered their price objective on Quanta Services from $48.00 to $47.00 and set an “outperform” rating for the company in a research report on Friday, May 8th. Stifel Nicolaus raised their price objective on Quanta Services from $46.00 to $50.00 in a research report on Tuesday, June 23rd. Finally, Zacks Investment Research raised Quanta Services from a “sell” rating to a “hold” rating and set a $36.00 price objective for the company in a research report on Monday, May 4th. One analyst has rated the stock with a sell rating, one has assigned a hold rating and eleven have issued a buy rating to the company. The company has an average rating of “Buy” and a consensus target price of $45.08.

In related news, VP Dorothy Upperman sold 5,617 shares of Quanta Services stock in a transaction dated Friday, June 5th. The stock was sold at an average price of $42.00, for a total value of $235,914.00. Following the completion of the sale, the vice president now directly owns 12,041 shares in the company, valued at approximately $505,722. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 1.40% of the stock is currently owned by company insiders.

About Quanta Services

Quanta Services, Inc provides specialty contracting services in the United States, Canada, Australia, Latin America, and internationally. Its Electric Power Infrastructure Services segment designs, installs, upgrades, repairs, and maintains electric power transmission and distribution infrastructure, and substation facilities, as well as provides other engineering and technical services; designs, installs, maintains, and repairs commercial and industrial wiring; and operates a postsecondary educational institution.

Further Reading: How To Calculate Debt-to-Equity Ratio

Dividend History for Quanta Services (NYSE:PWR)

Receive News & Ratings for Quanta Services Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Quanta Services and related companies with MarketBeat.com's FREE daily email newsletter.