Quanta Services, Inc. (NYSE:PWR) Plans Quarterly Dividend of $0.09

Quanta Services, Inc. (NYSE:PWR) announced a quarterly dividend on Friday, May 24th, RTT News reports. Shareholders of record on Monday, July 1st will be given a dividend of 0.09 per share by the construction company on Friday, July 12th. This represents a $0.36 dividend on an annualized basis and a yield of 0.14%. The ex-dividend date is Monday, July 1st.

Quanta Services has increased its dividend payment by an average of 16.3% annually over the last three years. Quanta Services has a dividend payout ratio of 3.7% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect Quanta Services to earn $8.83 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 4.1%.

Quanta Services Price Performance

Quanta Services stock opened at $254.09 on Friday. The business has a 50 day simple moving average of $268.79 and a 200-day simple moving average of $240.78. Quanta Services has a 12 month low of $153.74 and a 12 month high of $286.87. The company has a debt-to-equity ratio of 0.50, a current ratio of 1.36 and a quick ratio of 1.32. The stock has a market capitalization of $37.20 billion, a PE ratio of 49.24 and a beta of 1.05.

Quanta Services (NYSE:PWR) last issued its earnings results on Thursday, May 2nd. The construction company reported $1.23 earnings per share for the quarter, beating the consensus estimate of $1.09 by $0.14. Quanta Services had a net margin of 3.57% and a return on equity of 16.25%. The business had revenue of $5.03 billion for the quarter, compared to the consensus estimate of $4.96 billion. Equities analysts predict that Quanta Services will post 7.69 earnings per share for the current year.

Analysts Set New Price Targets

Several research analysts have issued reports on PWR shares. The Goldman Sachs Group increased their price objective on Quanta Services from $259.00 to $286.00 and gave the stock a “buy” rating in a research report on Tuesday, May 28th. Robert W. Baird boosted their price objective on shares of Quanta Services from $265.00 to $287.00 and gave the stock an “outperform” rating in a report on Friday, May 3rd. Evercore ISI lifted their price target on shares of Quanta Services from $255.00 to $288.00 and gave the company an “outperform” rating in a research report on Tuesday, May 7th. B. Riley upped their price target on Quanta Services from $246.00 to $286.00 and gave the stock a “buy” rating in a report on Friday, May 3rd. Finally, Argus lifted their price objective on Quanta Services from $285.00 to $310.00 and gave the stock a “buy” rating in a report on Thursday, May 30th. Three equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $268.85.

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.