Quanta Services (NYSE:PWR) Now Covered by BMO Capital Markets

BMO Capital Markets assumed coverage on shares of Quanta Services (NYSE:PWR) in a research note released on Monday, MarketBeat.com reports. The brokerage issued an outperform rating and a $338.00 price objective on the construction company’s stock.

Other research analysts have also recently issued research reports about the company. Guggenheim initiated coverage on Quanta Services in a research note on Wednesday, January 8th. They set a “neutral” rating for the company. Stifel Nicolaus upped their price target on Quanta Services from $374.00 to $388.00 and gave the company a “buy” rating in a research report on Wednesday, January 22nd. Citigroup cut their price objective on Quanta Services from $394.00 to $371.00 and set a “buy” rating on the stock in a research note on Wednesday, January 29th. TD Cowen lifted their target price on shares of Quanta Services from $280.00 to $335.00 and gave the stock a “buy” rating in a research note on Tuesday, October 15th. Finally, Bank of America began coverage on shares of Quanta Services in a research note on Friday, January 24th. They issued a “buy” rating and a $407.00 price objective for the company. Four equities research analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, Quanta Services has an average rating of “Moderate Buy” and an average target price of $330.50.

Quanta Services Stock Down 0.5 %

Shares of PWR opened at $298.50 on Monday. The firm’s 50 day moving average is $325.93 and its 200-day moving average is $302.22. The stock has a market capitalization of $44.06 billion, a PE ratio of 55.07, a P/E/G ratio of 1.54 and a beta of 1.05. The company has a current ratio of 1.23, a quick ratio of 1.19 and a debt-to-equity ratio of 0.58. Quanta Services has a 12 month low of $200.23 and a 12 month high of $365.88.

Quanta Services Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, January 13th. Investors of record on Thursday, January 2nd were issued a $0.10 dividend. This is an increase from Quanta Services’s previous quarterly dividend of $0.09. This represents a $0.40 dividend on an annualized basis and a dividend yield of 0.13%. The ex-dividend date of this dividend was Thursday, January 2nd. Quanta Services’s payout ratio is 7.38%.

Institutional Investors Weigh In On Quanta Services

A number of hedge funds and other institutional investors have recently bought and sold shares of PWR. Versor Investments LP bought a new position in Quanta Services in the 3rd quarter worth about $406,000. Principal Financial Group Inc. raised its position in Quanta Services by 5.6% during the third quarter. Principal Financial Group Inc. now owns 207,720 shares of the construction company’s stock valued at $61,932,000 after purchasing an additional 11,012 shares in the last quarter. Asio Capital LLC bought a new stake in Quanta Services during the third quarter worth about $2,715,000. Synovus Financial Corp increased its position in shares of Quanta Services by 34.0% during the 3rd quarter. Synovus Financial Corp now owns 7,206 shares of the construction company’s stock valued at $2,148,000 after purchasing an additional 1,830 shares during the last quarter. Finally, Waverton Investment Management Ltd raised its holdings in shares of Quanta Services by 6.5% during the 3rd quarter. Waverton Investment Management Ltd now owns 41,963 shares of the construction company’s stock valued at $12,509,000 after buying an additional 2,557 shares in the last quarter. Institutional investors 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.