Quanta Services, Inc. (NYSE:PWR) Declares $0.09 Quarterly Dividend

by · The Markets Daily

Quanta Services, Inc. (NYSE:PWR – Get Free Report) declared a quarterly dividend on Thursday, August 29th, RTT News reports. Shareholders of record on Tuesday, October 1st will be given a dividend of 0.09 per share by the construction company on Friday, October 11th. This represents a $0.36 dividend on an annualized basis and a yield of 0.12%. The ex-dividend date is Tuesday, October 1st.

Quanta Services has raised its dividend payment by an average of 16.3% annually over the last three years. Quanta Services has a dividend payout ratio of 3.6% meaning its dividend is sufficiently covered by earnings. Research analysts expect Quanta Services to earn $9.45 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 Trading Up 0.1 %

NYSE PWR opened at $296.74 on Monday. The stock has a market cap of $43.44 billion, a P/E ratio of 57.51 and a beta of 1.01. The company’s fifty day simple moving average is $266.18 and its 200-day simple moving average is $263.66. The company has a current ratio of 1.30, a quick ratio of 1.25 and a debt-to-equity ratio of 0.45. Quanta Services has a 52 week low of $153.74 and a 52 week high of $306.50.

Quanta Services (NYSE:PWR – Get Free Report) last posted its quarterly earnings data on Thursday, August 1st. The construction company reported $1.90 earnings per share for the quarter, beating analysts’ consensus estimates of $1.75 by $0.15. Quanta Services had a net margin of 3.59% and a return on equity of 16.29%. The company had revenue of $5.59 billion during the quarter, compared to analysts’ expectations of $5.51 billion. During the same period in the prior year, the company posted $1.47 EPS. The firm’s revenue for the quarter was up 10.8% on a year-over-year basis. Equities research analysts predict that Quanta Services will post 7.82 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

PWR has been the topic of several recent analyst reports. Northland Securities upped their price target on shares of Quanta Services from $264.00 to $280.00 and gave the company an “outperform” rating in a report on Friday, August 2nd. B. Riley increased their price target on shares of Quanta Services from $286.00 to $303.00 and gave the stock a “buy” rating in a research report on Friday, August 2nd. Truist Financial reissued a “buy” rating and issued a $319.00 price objective (up from $305.00) on shares of Quanta Services in a report on Monday, August 5th. Citigroup increased their target price on Quanta Services from $299.00 to $302.00 and gave the stock a “buy” rating in a report on Monday, July 22nd. Finally, Wolfe Research started coverage on Quanta Services in a report on Thursday, September 19th. They issued an “outperform” rating and a $313.00 price target for the company. Four research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. Based on data from MarketBeat, Quanta Services presently has an average rating of “Moderate Buy” and a consensus target price of $286.69.

Check Out Our Latest Research Report on PWR

Insider Activity

In related news, insider Gerald A. Ducey, Jr. sold 15,000 shares of the stock in a transaction dated Friday, August 9th. The shares were sold at an average price of $257.93, for a total value of $3,868,950.00. Following the sale, the insider now owns 21,286 shares of the company’s stock, valued at approximately $5,490,297.98. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In other news, 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 transaction, the chief executive officer now owns 593,402 shares of the company’s stock, valued at $155,595,938.42. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Gerald A. Ducey, Jr. sold 15,000 shares of Quanta Services stock in a transaction dated Friday, August 9th. The shares were sold at an average price of $257.93, for a total transaction of $3,868,950.00. Following the sale, the insider now owns 21,286 shares in the company, valued at $5,490,297.98. The disclosure for this sale can be found here. Over the last quarter, insiders sold 202,357 shares of company stock valued at $53,115,572. 1.10% of the stock is currently owned by company insiders.

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.

See Also