Quanta Services, Inc. (NYSE:PWR) Raises Dividend to $0.10 Per Share

Quanta Services, Inc. (NYSE:PWR) declared a quarterly dividend on Thursday, November 21st,RTT News reports. Investors 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 dividend on an annualized basis and a yield of 0.12%. 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 payout ratio of 3.5% meaning its dividend is sufficiently covered by earnings. Research 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 Stock Up 2.3 %

Quanta Services stock opened at $340.01 on Friday. The firm has a market capitalization of $50.19 billion, a price-to-earnings ratio of 62.73 and a beta of 1.01. The company has a current ratio of 1.23, a quick ratio of 1.19 and a debt-to-equity ratio of 0.58. Quanta Services has a 1-year low of $180.97 and a 1-year high of $342.28. The firm’s fifty day moving average price is $306.37 and its two-hundred day moving average price is $279.24.

Quanta Services (NYSE:PWR) last announced its earnings results on Thursday, October 31st. The construction company reported $2.72 EPS for the quarter, beating the consensus estimate of $2.46 by $0.26. The company had revenue of $6.49 billion during the quarter, compared to the consensus estimate of $6.56 billion. Quanta Services had a net margin of 3.54% and a return on equity of 16.71%. The firm’s revenue for the quarter was up 15.5% on a year-over-year basis. During the same quarter in the prior year, the company posted $2.08 earnings per share. On average, equities research analysts predict that Quanta Services will post 7.88 earnings per share for the current fiscal year.

Analyst Ratings Changes

PWR has been the subject of several research reports. JPMorgan Chase & Co. started coverage on shares of Quanta Services in a research report on Monday, October 7th. They set a “neutral” rating and a $297.00 price target for the company. Truist Financial upped their price target on Quanta Services from $319.00 to $358.00 and gave the company a “buy” rating in a research report on Wednesday, October 9th. Wolfe Research started coverage on Quanta Services in a report on Thursday, September 19th. They issued an “outperform” rating and a $313.00 price objective for the company. Jefferies Financial Group assumed coverage on shares of Quanta Services in a research report on Wednesday, September 4th. They set a “hold” rating and a $256.00 target price for the company. Finally, Stifel Nicolaus boosted their price target on shares of Quanta Services from $283.00 to $342.00 and gave the company a “buy” rating in a research report on Thursday, October 10th. Four analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. According to data from MarketBeat.com, the company currently 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.