Quanta Services (NYSE:PWR) Given New $323.00 Price Target at JPMorgan Chase & Co.

Quanta Services (NYSE:PWR) had its price objective lifted by JPMorgan Chase & Co. from $297.00 to $323.00 in a report released on Tuesday morning,Benzinga reports. They currently have a neutral rating on the construction company’s stock.

Other analysts have also recently issued research reports about the stock. Citigroup boosted their target price on shares of Quanta Services from $348.00 to $394.00 and gave the company a “buy” rating in a report on Monday, December 9th. Guggenheim started coverage on shares of Quanta Services in a report on Wednesday, January 8th. They issued a “neutral” rating on the stock. Stifel Nicolaus lifted their target price on shares of Quanta Services from $374.00 to $388.00 and gave the company a “buy” rating in a report on Wednesday, January 22nd. TD Cowen upped their price target on Quanta Services from $280.00 to $335.00 and gave the stock a “buy” rating in a research note on Tuesday, October 15th. Finally, Daiwa America upgraded Quanta Services to a “strong-buy” rating in a research note on Friday, December 6th. Four analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, Quanta Services has an average rating of “Moderate Buy” and an average price target of $331.41.

Quanta Services Trading Up 0.4 %

Shares of PWR opened at $293.72 on Tuesday. Quanta Services has a 1-year low of $193.52 and a 1-year high of $365.88. The company has a current ratio of 1.23, a quick ratio of 1.19 and a debt-to-equity ratio of 0.58. The firm’s 50-day moving average price is $330.55 and its 200-day moving average price is $300.60. The firm has a market capitalization of $43.36 billion, a price-to-earnings ratio of 54.19 and a beta of 1.06.

Quanta Services (NYSE:PWR) last posted its earnings results on Thursday, October 31st. The construction company reported $2.72 earnings per share for the quarter, topping analysts’ consensus estimates of $2.46 by $0.26. The firm had revenue of $6.49 billion for 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 revenue for the quarter was up 15.5% on a year-over-year basis. During the same quarter in the prior year, the business earned $2.08 EPS. Sell-side analysts anticipate that Quanta Services will post 7.9 EPS for the current year.

Quanta Services Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, January 13th. Stockholders of record on Thursday, January 2nd were issued a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a dividend yield of 0.14%. This is a boost from Quanta Services’s previous quarterly dividend of $0.09. The ex-dividend date was Thursday, January 2nd. Quanta Services’s dividend payout ratio is presently 7.38%.

Institutional Trading of Quanta Services

A number of hedge funds have recently bought and sold shares of the company. Webster Bank N. A. grew its stake in shares of Quanta Services by 4,050.0% during the 4th quarter. Webster Bank N. A. now owns 83 shares of the construction company’s stock valued at $26,000 after purchasing an additional 81 shares during the period. Prestige Wealth Management Group LLC bought a new stake in Quanta Services during the third quarter valued at approximately $30,000. Legacy Investment Solutions LLC bought a new position in Quanta Services in the third quarter worth approximately $31,000. Sound Income Strategies LLC boosted its stake in shares of Quanta Services by 700.0% during the 4th quarter. Sound Income Strategies LLC now owns 104 shares of the construction company’s stock worth $33,000 after acquiring an additional 91 shares during the last quarter. Finally, Versant Capital Management Inc grew its position in shares of Quanta Services by 62.5% during the 4th quarter. Versant Capital Management Inc now owns 117 shares of the construction company’s stock valued at $37,000 after acquiring an additional 45 shares during the period. Hedge funds and other institutional investors own 90.49% of the company’s stock.

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.