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Quanta Services sets quarterly dividend at $0.09 per share

EditorNatashya Angelica
Published 03/28/2024, 05:16 PM

HOUSTON - Quanta Services , Inc. (NYSE: NYSE:PWR), a specialized contracting services company, has declared a quarterly cash dividend of $0.09 per share. The dividend, announced today, will be payable on April 17, 2024, to shareholders on record as of April 9, 2024. This dividend payment corresponds to an annualized rate of $0.36 per share.

Quanta Services provides a range of infrastructure solutions across various industries, including utility, renewable energy, communications, pipeline, and energy sectors. The company's offerings span the design, installation, repair, and maintenance of energy and communications infrastructure. With a presence in the United States, Canada, Australia, and select international markets, Quanta leverages its workforce and expertise to undertake projects of varying scale and complexity.

The forward-looking statements in the press release, including expectations regarding future dividends and financial outlook, are subject to risks and uncertainties that could cause actual results to differ materially from those projected. These statements are not guarantees of future performance and depend on a number of unpredictable factors.

The information provided in this article is based on a press release statement from Quanta Services, Inc.

InvestingPro Insights

Quanta Services (NYSE: PWR), a leader in the construction and engineering sector, has recently caught the attention of investors with its dividend announcement. To provide additional context to this development, here are some insights based on the latest data from InvestingPro.

The company's market capitalization stands robust at $37.84 billion, reflecting its significant presence in the industry. Despite a high Price/Earnings (P/E) ratio of 50.55 for the last twelve months as of Q4 2023, which indicates a premium valuation compared to earnings, Quanta has demonstrated strong revenue growth of 22.3% over the same period.

This growth is further emphasized by an even more impressive quarterly revenue growth of 30.96% in Q4 2023. On the profitability front, Quanta has maintained a Gross Profit Margin of 14.06% in the last twelve months as of Q4 2023.

Adding to the financial picture, two InvestingPro Tips highlight key considerations for investors. First, Quanta Services is trading at a high earnings multiple, which suggests the stock may be priced optimistically in relation to its earnings. Second, the company has been flagged by the Relative Strength Index (RSI) as being in overbought territory, hinting at the possibility of a pullback if market sentiment shifts.

For those interested in a deeper dive into Quanta Services' financial health and market potential, InvestingPro offers additional insights and metrics. Currently, there are 17 more InvestingPro Tips available for Quanta Services, which can be accessed at InvestingPro. To enhance your investment research, use the coupon code PRONEWS24 to get an additional 10% off a yearly or biyearly Pro and Pro+ subscription.

This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.

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