Quanta Services (NYSE:PWR) Shares Pass Above 200-Day Moving Average – What’s Next?

Quanta Services, Inc. (NYSE:PWRGet Free Report)’s stock price crossed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $291.49 and traded as high as $322.40. Quanta Services shares last traded at $318.98, with a volume of 1,084,612 shares changing hands.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on PWR shares. Stifel Nicolaus raised their price target on shares of Quanta Services from $343.00 to $374.00 and gave the company a “buy” rating in a research report on Wednesday, December 11th. Jefferies Financial Group assumed coverage on Quanta Services in a report on Wednesday, September 4th. They set a “hold” rating and a $256.00 price target on the stock. Daiwa Capital Markets initiated coverage on Quanta Services in a report on Friday, December 6th. They issued an “outperform” rating and a $355.00 price objective for the company. Truist Financial upped their target price on shares of Quanta Services from $358.00 to $399.00 and gave the company a “buy” rating in a research note on Thursday, December 19th. Finally, JPMorgan Chase & Co. started coverage on shares of Quanta Services in a research note on Monday, October 7th. They issued a “neutral” rating and a $297.00 price target for the company. Four research analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $324.25.

Get Our Latest Stock Analysis on Quanta Services

Quanta Services Price Performance

The company has a debt-to-equity ratio of 0.58, a quick ratio of 1.19 and a current ratio of 1.23. The company has a market cap of $46.65 billion, a P/E ratio of 58.31 and a beta of 1.03. The firm’s fifty day moving average is $326.75 and its two-hundred day moving average is $291.79.

Quanta Services (NYSE:PWRGet Free Report) last released its earnings results on Thursday, October 31st. The construction company reported $2.72 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.46 by $0.26. Quanta Services had a return on equity of 16.71% and a net margin of 3.54%. The firm had revenue of $6.49 billion during the quarter, compared to analysts’ expectations of $6.56 billion. During the same quarter last year, the business posted $2.08 earnings per share. The firm’s revenue was up 15.5% on a year-over-year basis. As a group, analysts anticipate that Quanta Services, Inc. will post 7.9 earnings per share for the current fiscal year.

Quanta Services Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, January 13th. Investors of record on Thursday, January 2nd will be given a dividend of $0.10 per share. This is a positive change from Quanta Services’s previous quarterly dividend of $0.09. The ex-dividend date of this dividend is Thursday, January 2nd. This represents a $0.40 dividend on an annualized basis and a dividend yield of 0.13%. Quanta Services’s dividend payout ratio is currently 7.38%.

Institutional Trading of Quanta Services

Several hedge funds have recently bought and sold shares of the stock. Prestige Wealth Management Group LLC purchased a new stake in shares of Quanta Services in the third quarter worth about $30,000. Legacy Investment Solutions LLC bought a new stake in Quanta Services in the 3rd quarter worth approximately $31,000. Valley Wealth Managers Inc. purchased a new stake in shares of Quanta Services during the 2nd quarter worth approximately $33,000. Quest Partners LLC purchased a new position in shares of Quanta Services in the second quarter valued at $35,000. Finally, MidAtlantic Capital Management Inc. purchased a new stake in Quanta Services during the third quarter valued at $41,000. Hedge funds and other institutional investors own 90.49% of the company’s stock.

Quanta Services Company Profile

(Get Free Report)

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.

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