Quanta Services, Inc. (NYSE:PWR – Get Rating) announced a quarterly dividend on Friday, May 27th, RTT News reports. Shareholders of record on Friday, July 1st will be paid a dividend of 0.07 per share by the construction company on Friday, July 15th. This represents a $0.28 annualized dividend and a yield of 0.23%.
Quanta Services has increased its dividend by an average of 84.2% annually over the last three years and has increased its dividend annually for the last 3 consecutive years. Quanta Services has a payout ratio of 4.0% meaning its dividend is sufficiently covered by earnings. Research analysts expect Quanta Services to earn $6.48 per share next year, which means the company should continue to be able to cover its $0.28 annual dividend with an expected future payout ratio of 4.3%.
Shares of PWR opened at $123.51 on Friday. The company has a current ratio of 1.51, a quick ratio of 1.48 and a debt-to-equity ratio of 0.74. Quanta Services has a 12 month low of $84.40 and a 12 month high of $140.04. The stock’s 50 day moving average is $124.06 and its two-hundred day moving average is $115.38. The firm has a market cap of $17.75 billion, a P/E ratio of 37.43 and a beta of 1.19.
PWR has been the topic of a number of research analyst reports. Cowen lifted their price target on Quanta Services from $130.00 to $145.00 in a research note on Thursday. Cowen lifted their price target on Quanta Services from $130.00 to $145.00 and gave the stock an “outperform” rating in a research note on Thursday. Piper Sandler lifted their price target on Quanta Services from $144.00 to $150.00 and gave the stock an “overweight” rating in a research note on Wednesday, April 6th. StockNews.com initiated coverage on Quanta Services in a research note on Thursday, March 31st. They issued a “hold” rating on the stock. Finally, The Goldman Sachs Group lifted their price target on Quanta Services from $127.00 to $143.00 and gave the stock a “buy” rating in a research note on Thursday, April 7th. Four investment analysts have rated the stock with a hold rating and nine have given a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Buy” and a consensus target price of $138.50.
In other Quanta Services news, EVP Donald Wayne sold 1,817 shares of Quanta Services stock in a transaction on Tuesday, March 29th. The stock was sold at an average price of $136.68, for a total value of $248,347.56. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, Director Bernard Fried sold 3,000 shares of Quanta Services stock in a transaction on Thursday, March 3rd. The shares were sold at an average price of $112.61, for a total value of $337,830.00. The disclosure for this sale can be found here. Insiders sold 21,034 shares of company stock worth $2,378,756 in the last 90 days. Company insiders own 1.30% of the company’s stock.
Several hedge funds have recently bought and sold shares of PWR. Royal Bank of Canada raised its holdings in shares of Quanta Services by 52.2% in the 1st quarter. Royal Bank of Canada now owns 1,492,323 shares of the construction company’s stock valued at $196,405,000 after buying an additional 511,508 shares during the period. Morgan Stanley raised its holdings in shares of Quanta Services by 117.3% in the 2nd quarter. Morgan Stanley now owns 754,627 shares of the construction company’s stock valued at $68,346,000 after buying an additional 407,330 shares during the period. 1832 Asset Management L.P. purchased a new stake in shares of Quanta Services in the 1st quarter valued at $30,724,000. Vanguard Group Inc. raised its holdings in shares of Quanta Services by 1.2% in the 1st quarter. Vanguard Group Inc. now owns 15,363,311 shares of the construction company’s stock valued at $2,021,965,000 after buying an additional 182,092 shares during the period. Finally, Eaton Vance Management grew its stake in Quanta Services by 115.2% during the 1st quarter. Eaton Vance Management now owns 148,396 shares of the construction company’s stock worth $19,530,000 after purchasing an additional 79,437 shares in the last quarter. Hedge funds and other institutional investors own 87.16% of the company’s stock.
About Quanta Services (Get Rating)
Quanta Services, Inc provides specialty contracting services worldwide. The 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; energized 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.
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