Quanta Services, Inc. (NYSE:PWR) Raises Dividend to $0.09 Per Share
Quanta Services, Inc. (NYSE:PWR – Get Free Report) announced a quarterly dividend on Wednesday, December 6th, NASDAQ reports. Investors of record on Tuesday, January 2nd will be paid a dividend of 0.09 per share by the construction company on Friday, January 12th. This represents a $0.36 annualized dividend and a yield of 0.19%. The ex-dividend date of this dividend is Friday, December 29th. This is a positive change from Quanta Services’s previous quarterly dividend of $0.08.
Quanta Services has raised its dividend by an average of 19.5% annually over the last three years and has raised its dividend annually for the last 4 consecutive years. Quanta Services has a payout ratio of 3.8% meaning its dividend is sufficiently covered by earnings. Equities analysts expect Quanta Services to earn $7.74 per share next year, which means the company should continue to be able to cover its $0.32 annual dividend with an expected future payout ratio of 4.1%.
Quanta Services Trading Up 1.3 %
Quanta Services stock traded up $2.42 during mid-day trading on Wednesday, hitting $191.85. 1,006,607 shares of the company’s stock were exchanged, compared to its average volume of 934,774. The company’s 50 day simple moving average is $176.43 and its 200-day simple moving average is $188.63. Quanta Services has a fifty-two week low of $134.61 and a fifty-two week high of $212.82. The firm has a market capitalization of $27.87 billion, a P/E ratio of 41.02 and a beta of 1.11. The company has a quick ratio of 1.57, a current ratio of 1.61 and a debt-to-equity ratio of 0.66.
Quanta Services (NYSE:PWR – Get Free Report) last released its quarterly earnings results on Thursday, November 2nd. The construction company reported $2.08 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.99 by $0.09. Quanta Services had a return on equity of 16.17% and a net margin of 3.57%. The firm had revenue of $5.62 billion for the quarter, compared to the consensus estimate of $5.26 billion. On average, equities analysts anticipate that Quanta Services will post 6.45 earnings per share for the current year.
Institutional Inflows and Outflows
Several institutional investors have recently added to or reduced their stakes in PWR. Salem Investment Counselors Inc. acquired a new position in shares of Quanta Services during the first quarter worth $132,000. Zions Bancorporation N.A. grew its stake in shares of Quanta Services by 5,064.3% in the first quarter. Zions Bancorporation N.A. now owns 723 shares of the construction company’s stock worth $95,000 after purchasing an additional 709 shares during the last quarter. First Horizon Advisors Inc. grew its stake in shares of Quanta Services by 57.1% in the first quarter. First Horizon Advisors Inc. now owns 517 shares of the construction company’s stock worth $86,000 after purchasing an additional 188 shares during the last quarter. Covestor Ltd grew its stake in shares of Quanta Services by 197.2% in the first quarter. Covestor Ltd now owns 627 shares of the construction company’s stock worth $83,000 after purchasing an additional 416 shares during the last quarter. Finally, First Capital Advisors Group LLC. bought a new stake in shares of Quanta Services in the second quarter worth $80,000. 87.86% of the stock is currently owned by institutional investors and hedge funds.
Analyst Upgrades and Downgrades
A number of analysts recently issued reports on PWR shares. StockNews.com started coverage on Quanta Services in a research report on Thursday, October 5th. They issued a “hold” rating on the stock. The Goldman Sachs Group raised Quanta Services from a “neutral” rating to a “buy” rating and lowered their target price for the company from $214.00 to $211.00 in a research report on Wednesday, November 8th. Argus lifted their target price on Quanta Services from $234.00 to $248.00 and gave the company a “buy” rating in a research report on Wednesday, September 6th. Robert W. Baird reaffirmed an “outperform” rating and issued a $219.00 target price on shares of Quanta Services in a research report on Thursday, September 14th. Finally, Stifel Nicolaus reaffirmed a “buy” rating and issued a $212.00 target price on shares of Quanta Services in a research report on Thursday, November 16th. Two investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $209.17.
Get Our Latest Stock Report on Quanta Services
Quanta Services Company Profile (Get Free Report)
Quanta Services, Inc provides infrastructure solutions for the electric and gas utility, renewable energy, communications, and pipeline and energy industries worldwide. 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.
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Original: MarketBeat News Feed: Quanta Services, Inc. (NYSE:PWR) Raises Dividend to $0.09 Per Share