Quanta Services, Inc. (PWR) to Issue Quarterly Dividend of $0.09 on July 12th

Quanta Services, Inc. (NYSE:PWR) declared a quarterly dividend on Friday, May 24th, RTT News reports. Investors of record on Monday, July 1st will be paid a dividend of 0.09 per share by the construction company on Friday, July 12th. This represents a $0.36 annualized dividend and a yield of 0.13%. The ex-dividend date of this dividend is Monday, July 1st.

Quanta Services has raised its dividend by an average of 16.3% per year over the last three years and has raised its dividend annually for the last 1 consecutive years. Quanta Services has a dividend payout ratio of 3.7% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect Quanta Services to earn $8.83 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 4.1%.

Quanta Services Stock Performance

Shares of PWR stock opened at $283.43 on Friday. The stock has a market cap of $41.49 billion, a P/E ratio of 54.93 and a beta of 1.10. The company has a debt-to-equity ratio of 0.50, a current ratio of 1.36 and a quick ratio of 1.32. The company has a fifty day moving average price of $259.21 and a two-hundred day moving average price of $224.98. Quanta Services has a one year low of $153.74 and a one year high of $285.97.

Quanta Services (NYSE:PWR) last posted its earnings results on Thursday, May 2nd. The construction company reported $1.23 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.09 by $0.14. Quanta Services had a net margin of 3.57% and a return on equity of 16.25%. The company had revenue of $5.03 billion during the quarter, compared to analysts’ expectations of $4.96 billion. As a group, equities analysts predict that Quanta Services will post 7.69 EPS for the current year.

Wall Street Analyst Weigh In

PWR has been the topic of a number of recent research reports. DA Davidson raised their price target on shares of Quanta Services from $225.00 to $250.00 and gave the stock a “neutral” rating in a research report on Tuesday, May 7th. Stifel Nicolaus raised their price target on shares of Quanta Services from $237.00 to $252.00 and gave the stock a “buy” rating in a research report on Friday, February 23rd. Citigroup raised their target price on shares of Quanta Services from $275.00 to $285.00 and gave the company a “buy” rating in a report on Monday, April 22nd. TD Cowen raised their target price on shares of Quanta Services from $205.00 to $270.00 and gave the company an “outperform” rating in a report on Tuesday, February 27th. Finally, Truist Financial reissued a “buy” rating and issued a $305.00 target price (up from $301.00) on shares of Quanta Services in a report on Monday, May 6th. Three equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. Based on data from MarketBeat, Quanta Services currently has an average rating of “Moderate Buy” and an average target price of $262.00.

Insider Activity

In other news, Director Worthing Jackman sold 9,572 shares of the firm’s stock in a transaction that occurred on Wednesday, February 28th. The shares were sold at an average price of $237.31, for a total value of $2,271,531.32. Following the sale, the director now directly owns 7,486 shares in the company, valued at approximately $1,776,502.66. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. In related news, EVP Derrick A. Jensen sold 18,500 shares of Quanta Services stock in a transaction that occurred on Tuesday, February 27th. The shares were sold at an average price of $236.90, for a total transaction of $4,382,650.00. Following the sale, the executive vice president now directly owns 263,725 shares in the company, valued at approximately $62,476,452.50. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Worthing Jackman sold 9,572 shares of Quanta Services stock in a transaction that occurred on Wednesday, February 28th. The stock was sold at an average price of $237.31, for a total transaction of $2,271,531.32. Following the sale, the director now owns 7,486 shares in the company, valued at $1,776,502.66. The disclosure for this sale can be found here. In the last three months, insiders have sold 47,125 shares of company stock worth $11,270,215. Corporate insiders own 1.10% 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.