Quanta Services, Inc. (NYSE:PWR) Increases Dividend to $0.10 Per Share

Quanta Services, Inc. (NYSE:PWR) declared a quarterly dividend on Thursday, November 21st,RTT News reports. Stockholders of record on Thursday, January 2nd will be paid a dividend of 0.10 per share by the construction company on Monday, January 13th. This represents a $0.40 annualized dividend and a dividend yield of 0.12%. This is a positive change from Quanta Services’s previous quarterly dividend of $0.09.

Quanta Services has increased its dividend by an average of 16.3% annually over the last three years. Quanta Services has a dividend payout ratio of 3.5% meaning its dividend is sufficiently covered by earnings. Research analysts expect Quanta Services to earn $9.38 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 3.8%.

Quanta Services Stock Up 2.3 %

Shares of PWR opened at $340.01 on Friday. The firm has a market cap of $50.19 billion, a P/E ratio of 62.73 and a beta of 1.01. The company has a debt-to-equity ratio of 0.58, a quick ratio of 1.19 and a current ratio of 1.23. Quanta Services has a 52 week low of $180.97 and a 52 week high of $342.28. The firm’s 50-day simple moving average is $306.37 and its 200 day simple moving average is $279.24.

Quanta Services (NYSE:PWR) last announced 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 company had revenue of $6.49 billion for the quarter, compared to analyst estimates of $6.56 billion. Quanta Services had a return on equity of 16.71% and a net margin of 3.54%. The firm’s quarterly revenue was up 15.5% compared to the same quarter last year. During the same quarter last year, the company earned $2.08 earnings per share. On average, analysts forecast that Quanta Services will post 7.88 earnings per share for the current year.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on the stock. Northland Securities reiterated an “outperform” rating and issued a $328.00 price target (up from $280.00) on shares of Quanta Services in a research report on Friday, November 1st. JPMorgan Chase & Co. began coverage on Quanta Services in a report on Monday, October 7th. They issued a “neutral” rating and a $297.00 price objective for the company. TD Cowen increased their target price on Quanta Services from $280.00 to $335.00 and gave the stock a “buy” rating in a report on Tuesday, October 15th. Wolfe Research initiated coverage on Quanta Services in a research report on Thursday, September 19th. They issued an “outperform” rating and a $313.00 price target on the stock. Finally, UBS Group upped their price objective on shares of Quanta Services from $313.00 to $367.00 and gave the stock a “buy” rating in a research report on Wednesday, October 23rd. Four equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $314.27.

Quanta Services Company Profile

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.