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

Quanta Services, Inc. (NYSE:PWR) announced a quarterly dividend on Thursday, August 29th, RTT News reports. Stockholders of record on Tuesday, October 1st will be paid a dividend of 0.09 per share by the construction company on Friday, October 11th. This represents a $0.36 annualized dividend and a dividend yield of 0.13%.

Quanta Services has increased its dividend payment by an average of 16.3% per year over the last three years. Quanta Services has a dividend payout ratio of 3.6% meaning its dividend is sufficiently covered by earnings. Analysts expect Quanta Services to earn $9.08 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 4.0%.

Quanta Services Price Performance

Shares of NYSE:PWR traded up $5.60 during trading on Thursday, reaching $273.10. The stock had a trading volume of 139,909 shares, compared to its average volume of 932,465. The stock has a market capitalization of $39.98 billion, a PE ratio of 51.84 and a beta of 1.03. Quanta Services has a 52 week low of $153.74 and a 52 week high of $286.87. The business’s 50-day moving average price is $260.30 and its 200 day moving average price is $256.69. The company has a debt-to-equity ratio of 0.45, a current ratio of 1.30 and a quick ratio of 1.25.

Quanta Services (NYSE:PWR) last released its earnings results on Thursday, August 1st. The construction company reported $1.90 EPS for the quarter, beating the consensus estimate of $1.75 by $0.15. The firm had revenue of $5.59 billion for the quarter, compared to analysts’ expectations of $5.51 billion. Quanta Services had a return on equity of 16.29% and a net margin of 3.59%. The business’s quarterly revenue was up 10.8% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.47 EPS. As a group, equities analysts predict that Quanta Services will post 7.72 earnings per share for the current year.

Analysts Set New Price Targets

A number of research analysts recently commented on the company. Northland Securities boosted their price target on Quanta Services from $264.00 to $280.00 and gave the company an “outperform” rating in a research note on Friday, August 2nd. TD Cowen lifted their price objective on Quanta Services from $270.00 to $280.00 and gave the stock a “buy” rating in a research note on Thursday, August 8th. The Goldman Sachs Group increased their price objective on shares of Quanta Services from $259.00 to $286.00 and gave the stock a “buy” rating in a research report on Tuesday, May 28th. Truist Financial reiterated a “buy” rating and set a $319.00 price target (up from $305.00) on shares of Quanta Services in a report on Monday, August 5th. Finally, Argus lifted their target price on Quanta Services from $285.00 to $310.00 and gave the stock a “buy” rating in a report on Thursday, May 30th. Three investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $287.09.

Insiders Place Their Bets

In other Quanta Services news, insider Karl W. Studer sold 23,357 shares of the company’s stock in a transaction that occurred on Wednesday, August 21st. The stock was sold at an average price of $270.51, for a total value of $6,318,302.07. Following the completion of the transaction, the insider now directly owns 10,631 shares in the company, valued at approximately $2,875,791.81. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, insider Karl W. Studer sold 23,357 shares of the stock in a transaction on Wednesday, August 21st. The stock was sold at an average price of $270.51, for a total transaction of $6,318,302.07. Following the sale, the insider now owns 10,631 shares in the company, valued at approximately $2,875,791.81. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Earl C. Jr. Austin sold 130,000 shares of the stock in a transaction on Wednesday, August 14th. The stock was sold at an average price of $262.21, for a total value of $34,087,300.00. Following the completion of the sale, the chief executive officer now owns 593,402 shares in the company, valued at approximately $155,595,938.42. The disclosure for this sale can be found here. Insiders sold 202,357 shares of company stock worth $53,115,572 in the last three months. 1.10% of the stock is owned by company insiders.

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.