Quanta Services (NYSE:PWR) Price Target Raised to $288.00 at Robert W. Baird

Quanta Services (NYSE:PWR) had its price objective hoisted by Robert W. Baird from $287.00 to $288.00 in a report published on Friday morning, Benzinga reports. The firm currently has an outperform rating on the construction company’s stock.

Several other equities analysts also recently weighed in on PWR. Argus raised their price target on Quanta Services from $285.00 to $310.00 and gave the stock a buy rating in a research report on Thursday, May 30th. DA Davidson raised their price target on Quanta Services from $225.00 to $250.00 and gave the stock a neutral rating in a research report on Tuesday, May 7th. The Goldman Sachs Group raised their price target on Quanta Services from $259.00 to $286.00 and gave the stock a buy rating in a research report on Tuesday, May 28th. Evercore ISI lifted their price objective on Quanta Services from $255.00 to $288.00 and gave the company an outperform rating in a research report on Tuesday, May 7th. Finally, B. Riley lifted their price objective on Quanta Services from $246.00 to $286.00 and gave the company a buy rating in a research report on Friday, May 3rd. Three investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. According to MarketBeat, Quanta Services currently has a consensus rating of Moderate Buy and a consensus price target of $273.75.

Quanta Services Stock Performance

PWR opened at $267.71 on Friday. The stock has a market cap of $39.19 billion, a P/E ratio of 51.88 and a beta of 1.03. 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’s 50 day simple moving average is $267.70 and its 200 day simple moving average is $245.95. Quanta Services has a 1-year low of $153.74 and a 1-year high of $286.87.

Quanta Services (NYSE:PWR) last released its quarterly earnings results on Thursday, May 2nd. The construction company reported $1.23 earnings per share for the quarter, topping the consensus estimate of $1.09 by $0.14. The company had revenue of $5.03 billion during the quarter, compared to the consensus estimate of $4.96 billion. Quanta Services had a return on equity of 16.25% and a net margin of 3.57%. As a group, equities analysts anticipate that Quanta Services will post 7.69 EPS for the current fiscal year.

Quanta Services Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, July 12th. Investors of record on Monday, July 1st were issued a $0.09 dividend. This represents a $0.36 dividend on an annualized basis and a yield of 0.13%. The ex-dividend date of this dividend was Monday, July 1st. Quanta Services’s payout ratio is currently 6.98%.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in PWR. EntryPoint Capital LLC acquired a new position in shares of Quanta Services during the first quarter worth about $25,000. Private Ocean LLC acquired a new position in shares of Quanta Services during the first quarter worth about $26,000. Salomon & Ludwin LLC acquired a new position in shares of Quanta Services during the first quarter worth about $26,000. Cambridge Trust Co. acquired a new position in shares of Quanta Services during the first quarter worth about $26,000. Finally, Hazlett Burt & Watson Inc. lifted its stake in shares of Quanta Services by 47.3% during the fourth quarter. Hazlett Burt & Watson Inc. now owns 162 shares of the construction company’s stock worth $34,000 after purchasing an additional 52 shares in the last quarter. Institutional investors and hedge funds 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.