Quanta Services, Inc. (NYSE:PWR – Get Rating) announced a quarterly dividend on Friday, May 27th, RTT News reports. Stockholders of record on Friday, July 1st will be paid a dividend of 0.07 per share by the construction company on Friday, July 15th. This represents a $0.28 annualized dividend and a dividend yield of 0.23%.
Quanta Services has increased its dividend payment by an average of 84.2% annually over the last three years and has increased its dividend annually for the last 3 consecutive years. Quanta Services has a payout ratio of 4.0% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect Quanta Services to earn $6.48 per share next year, which means the company should continue to be able to cover its $0.28 annual dividend with an expected future payout ratio of 4.3%.
Shares of PWR stock traded up $2.88 during trading hours on Friday, hitting $123.51. 1,485,969 shares of the company were exchanged, compared to its average volume of 1,438,752. The firm has a market cap of $17.75 billion, a P/E ratio of 36.55 and a beta of 1.19. Quanta Services has a fifty-two week low of $84.40 and a fifty-two week high of $140.04. The company has a debt-to-equity ratio of 0.74, a quick ratio of 1.48 and a current ratio of 1.51. The company has a 50 day simple moving average of $124.12 and a two-hundred day simple moving average of $115.34.
A number of equities research analysts have recently commented on the company. Cowen lifted their target price on Quanta Services from $130.00 to $145.00 and gave the stock an “outperform” rating in a research note on Thursday. KeyCorp lifted their target price on Quanta Services from $129.00 to $156.00 in a research note on Thursday, April 14th. The Goldman Sachs Group boosted their price objective on Quanta Services from $127.00 to $143.00 and gave the company a “buy” rating in a research note on Thursday, April 7th. UBS Group cut Quanta Services from a “buy” rating to a “neutral” rating and boosted their price objective for the company from $140.00 to $145.00 in a research note on Wednesday, April 20th. Finally, StockNews.com began coverage on Quanta Services in a report on Thursday, March 31st. They set a “hold” rating for the company. Four investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. According to data from MarketBeat.com, Quanta Services presently has an average rating of “Buy” and an average price target of $138.50.
In other news, EVP Donald Wayne sold 1,817 shares of Quanta Services stock in a transaction that occurred on Tuesday, March 29th. The stock was sold at an average price of $136.68, for a total value of $248,347.56. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Bernard Fried sold 3,000 shares of Quanta Services stock in a transaction that occurred on Thursday, March 3rd. The stock was sold at an average price of $112.61, for a total value of $337,830.00. The disclosure for this sale can be found here. Insiders have sold a total of 21,034 shares of company stock valued at $2,378,756 in the last 90 days. 1.30% of the stock is currently owned by company insiders.
Several institutional investors and hedge funds have recently bought and sold shares of the company. The Manufacturers Life Insurance Company increased its holdings in Quanta Services by 17.0% in the 1st quarter. The Manufacturers Life Insurance Company now owns 366,107 shares of the construction company’s stock worth $48,183,000 after buying an additional 53,213 shares during the period. Toroso Investments LLC increased its stake in shares of Quanta Services by 8.1% in the 1st quarter. Toroso Investments LLC now owns 2,589 shares of the construction company’s stock worth $341,000 after acquiring an additional 193 shares during the last quarter. BNP Paribas Arbitrage SA increased its stake in shares of Quanta Services by 111.8% in the 1st quarter. BNP Paribas Arbitrage SA now owns 149,708 shares of the construction company’s stock worth $19,703,000 after acquiring an additional 79,024 shares during the last quarter. Continuum Advisory LLC acquired a new stake in shares of Quanta Services in the 1st quarter worth $243,000. Finally, Cim Investment Management Inc. acquired a new stake in shares of Quanta Services in the 1st quarter worth $294,000. Hedge funds and other institutional investors own 87.16% of the company’s stock.
About Quanta Services (Get Rating)
Quanta Services, Inc provides specialty contracting services worldwide. The 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; energized 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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