Recent Research Analysts’ Ratings Updates for Quanta Services (PWR)

Quanta Services (NYSE: PWR) has recently received a number of price target changes and ratings updates:

• 12/11/2024 – Quanta Services had its price target raised by analysts at Stifel Nicolaus from $343.00 to $374.00. They now have a “buy” rating on the stock.
• 12/9/2024 – Quanta Services had its price target raised by analysts at Citigroup Inc. from $348.00 to $394.00. They now have a “buy” rating on the stock.
• 12/6/2024 – Quanta Services was upgraded by analysts at Daiwa America to a “strong-buy” rating.
• 12/6/2024 – Quanta Services is now covered by analysts at Daiwa Capital Markets. They set an “outperform” rating and a $355.00 price target on the stock.
• 11/1/2024 – Quanta Services had its “outperform” rating reaffirmed by analysts at Northland Securities. They now have a $328.00 price target on the stock, up previously from $280.00.
• 11/1/2024 – Quanta Services had its price target raised by analysts at Robert W. Baird from $320.00 to $333.00. They now have an “outperform” rating on the stock.
• 10/23/2024 – Quanta Services had its price target raised by analysts at UBS Group AG from $313.00 to $367.00. They now have a “buy” rating on the stock.

Quanta Services Stock Performance

NYSE PWR opened at $320.62 on Thursday. The stock has a market capitalization of $47.33 billion, a price-to-earnings ratio of 59.15 and a beta of 1.03. The stock has a 50-day moving average of $323.97 and a 200 day moving average of $288.09. 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, Inc. has a twelve month low of $187.27 and a twelve month high of $350.19.

Quanta Services (NYSE:PWR) last announced its earnings results on Thursday, October 31st. The construction company reported $2.72 earnings per share for the quarter, topping the consensus estimate of $2.46 by $0.26. The business had revenue of $6.49 billion during the quarter, compared to the consensus estimate of $6.56 billion. Quanta Services had a return on equity of 16.71% and a net margin of 3.54%. The business’s quarterly revenue was up 15.5% on a year-over-year basis. During the same period in the prior year, the company posted $2.08 EPS. Sell-side analysts anticipate that Quanta Services, Inc. will post 7.9 EPS for the current fiscal year.

Quanta Services Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, January 13th. Stockholders of record on Thursday, January 2nd will be paid a dividend of $0.10 per share. The ex-dividend date is Thursday, January 2nd. This represents a $0.40 dividend on an annualized basis and a dividend yield of 0.12%. This is a boost from Quanta Services’s previous quarterly dividend of $0.09. Quanta Services’s payout ratio is currently 7.38%.

Hedge Funds Weigh In On Quanta Services

A number of hedge funds have recently made changes to their positions in the company. State Street Corp increased its position in shares of Quanta Services by 1.6% during the third quarter. State Street Corp now owns 5,748,637 shares of the construction company’s stock worth $1,713,956,000 after purchasing an additional 89,975 shares in the last quarter. Geode Capital Management LLC raised its position in shares of Quanta Services by 1.4% in the third quarter. Geode Capital Management LLC now owns 3,459,411 shares of the construction company’s stock valued at $1,027,887,000 after buying an additional 46,357 shares during the last quarter. Electron Capital Partners LLC lifted its stake in shares of Quanta Services by 395.1% in the second quarter. Electron Capital Partners LLC now owns 2,622,142 shares of the construction company’s stock worth $666,260,000 after buying an additional 2,092,519 shares in the last quarter. Massachusetts Financial Services Co. MA boosted its position in Quanta Services by 17.8% during the second quarter. Massachusetts Financial Services Co. MA now owns 1,235,655 shares of the construction company’s stock worth $313,968,000 after acquiring an additional 186,306 shares during the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its stake in Quanta Services by 4.3% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,060,052 shares of the construction company’s stock valued at $316,055,000 after acquiring an additional 43,715 shares in the last quarter. Institutional investors and hedge funds own 90.49% of the company’s stock.

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.