Quanta Services, Inc. (PWR) to Issue Quarterly Dividend of $0.10 on July 11th

Quanta Services, Inc. (NYSE:PWR) declared a quarterly dividend on Thursday, May 22nd, RTT News reports. Shareholders of record on Tuesday, July 1st will be paid a dividend of 0.10 per share by the construction company on Friday, July 11th. This represents a $0.40 dividend on an annualized basis and a yield of 0.12%. The ex-dividend date is Tuesday, July 1st.

Quanta Services has increased its dividend payment by an average of 14.0% annually over the last three years and has raised its dividend every year for the last 6 years. Quanta Services has a dividend payout ratio of 3.4% meaning its dividend is sufficiently covered by earnings. Equities analysts expect Quanta Services to earn $10.38 per share next year, which means the company should continue to be able to cover its $0.40 annual dividend with an expected future payout ratio of 3.9%.

Quanta Services Trading Up 1.4%

Shares of PWR stock opened at $335.42 on Friday. Quanta Services has a fifty-two week low of $227.08 and a fifty-two week high of $365.88. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.19 and a current ratio of 1.30. The stock’s fifty day moving average is $289.31 and its two-hundred day moving average is $302.86. The firm has a market capitalization of $49.73 billion, a P/E ratio of 55.63, a PEG ratio of 1.41 and a beta of 1.02.

Quanta Services (NYSE:PWR) last posted its quarterly earnings results on Thursday, May 1st. The construction company reported $1.78 EPS for the quarter, topping the consensus estimate of $1.72 by $0.06. Quanta Services had a return on equity of 18.00% and a net margin of 3.82%. The business had revenue of $6.23 billion for the quarter, compared to analyst estimates of $5.88 billion. During the same quarter in the previous year, the firm earned $1.41 EPS. The company’s quarterly revenue was up 23.9% compared to the same quarter last year. Research analysts expect that Quanta Services will post 9.34 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of brokerages recently issued reports on PWR. BMO Capital Markets set a $352.00 price objective on Quanta Services in a research report on Friday, May 2nd. Roth Capital raised Quanta Services to a “strong-buy” rating in a research report on Thursday, February 20th. Bank of America began coverage on Quanta Services in a research report on Friday, January 24th. They set a “buy” rating and a $407.00 price objective for the company. Roth Mkm began coverage on Quanta Services in a research report on Friday, February 21st. They set a “buy” rating and a $350.00 price objective for the company. Finally, Evercore ISI raised their price objective on Quanta Services from $331.00 to $360.00 and gave the stock an “outperform” rating in a research report on Friday, May 2nd. Six equities research analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $344.35.

Hedge Funds Weigh In On Quanta Services

An institutional investor recently bought a new position in Quanta Services stock. Brighton Jones LLC acquired a new stake in shares of Quanta Services, Inc. (NYSE:PWR) in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 943 shares of the construction company’s stock, valued at approximately $298,000. Institutional investors own 90.49% of the company’s stock.

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.