Quanta Services (PWR) Declares $0.08 Dividend

Quanta Services said on March 30, 2023 that its board of directors declared a regular quarterly dividend of $0.08 per share ($0.32 annualized). Previously, the company paid $0.08 per share.

Shares must be purchased before the ex-div date of April 6, 2023 to qualify for the dividend. Shareholders of record as of April 10, 2023 will receive the payment on April 18, 2023.

At the current share price of $166.52 / share, the stock's dividend yield is 0.19%. Looking back five years and taking a sample every week, the average dividend yield has been 0.39%, the lowest has been 0.18%, and the highest has been 0.84%. The standard deviation of yields is 0.18 (n=236).

The current dividend yield is 1.15 standard deviations below the historical average.

Additionally, the company's dividend payout ratio is 0.09. The payout ratio tells us how much of a company's income is paid out in dividends. A payout ratio of one (1.0) means 100% of the company's income is paid in a dividend. A payout ratio greater than one means the company is dipping into savings in order to maintain its dividend - not a healthy situation. Companies with few growth prospects are expected to pay out most of their income in dividends, which typically means a payout ratio between 0.5 and 1.0. Companies with good growth prospects are expected to retain some earnings in order to invest in those growth prospects, which translates to a payout ratio of zero to 0.5.

The company's 3-Year dividend growth rate is 0.60%, demonstrating that it has increased its dividend over time.

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Analyst Price Forecast Suggests 8.95% Upside

As of March 31, 2023, the average one-year price target for Quanta Services is $181.42. The forecasts range from a low of $151.50 to a high of $201.60. The average price target represents an increase of 8.95% from its latest reported closing price of $166.52.

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The projected annual revenue for Quanta Services is $18,348MM, an increase of 7.46%. The projected annual non-GAAP EPS is $7.08.

What is the Fund Sentiment?

There are 1694 funds or institutions reporting positions in Quanta Services. This is an increase of 59 owner(s) or 3.61% in the last quarter. Average portfolio weight of all funds dedicated to PWR is 0.41%, a decrease of 4.36%. Total shares owned by institutions decreased in the last three months by 3.18% to 174,415K shares. The put/call ratio of PWR is 0.73, indicating a bullish outlook.

What are Large Shareholders Doing?

VEIEX - Vanguard Emerging Markets Stock Index Fund Investor Shares holds 16,572K shares representing 11.51% ownership of the company. In it's prior filing, the firm reported owning 16,332K shares, representing an increase of 1.45%. The firm decreased its portfolio allocation in PWR by 19.48% over the last quarter.

VGTSX - Vanguard Total International Stock Index Fund Investor Shares holds 15,690K shares representing 10.90% ownership of the company. In it's prior filing, the firm reported owning 15,329K shares, representing an increase of 2.30%. The firm decreased its portfolio allocation in PWR by 15.69% over the last quarter.

IEMG - iShares Core MSCI Emerging Markets ETF holds 7,627K shares representing 5.30% ownership of the company. In it's prior filing, the firm reported owning 7,593K shares, representing an increase of 0.45%. The firm decreased its portfolio allocation in PWR by 18.51% over the last quarter.

Jpmorgan Chase & holds 6,056K shares representing 4.21% ownership of the company. No change in the last quarter.

DGS - WisdomTree Emerging Markets SmallCap Dividend Fund N holds 5,909K shares representing 4.10% ownership of the company. In it's prior filing, the firm reported owning 10,610K shares, representing a decrease of 79.56%. The firm decreased its portfolio allocation in PWR by 54.61% over the last quarter.

Quanta Services Background Information
(This description is provided by the company.)

Quanta Services is a leading specialized contracting services company, delivering comprehensive infrastructure solutions for the utility, communications, pipeline and energy industries. Quanta's comprehensive services include designing, installing, repairing and maintaining energy and communications infrastructure. With operations throughout the United States, Canada, Australia and select other international markets, Quanta has the manpower, resources and expertise to safely complete projects that are local, regional, national or international in scope.

This story originally appeared on Fintel.