Quanta Services (NYSE:PWR) Downgraded by Daiwa America to “Hold”

Daiwa America downgraded shares of Quanta Services (NYSE:PWR) from a strong-buy rating to a hold rating in a research note published on Monday,Zacks.com reports.

A number of other research firms have also commented on PWR. Roth Mkm started coverage on shares of Quanta Services in a report on Friday, February 21st. They set a “buy” rating and a $350.00 price target for the company. Robert W. Baird upped their price target on shares of Quanta Services from $320.00 to $333.00 and gave the company an “outperform” rating in a report on Friday, November 1st. BMO Capital Markets upgraded shares of Quanta Services from a “market perform” rating to an “outperform” rating and lowered their price target for the company from $338.00 to $316.00 in a report on Tuesday. Roth Capital upgraded shares of Quanta Services to a “strong-buy” rating in a report on Thursday, February 20th. Finally, Citigroup lowered their price target on shares of Quanta Services from $394.00 to $371.00 and set a “buy” rating for the company in a report on Wednesday, January 29th. Six investment analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $326.95.

Quanta Services Price Performance

Shares of Quanta Services stock opened at $264.35 on Monday. Quanta Services has a 52-week low of $227.11 and a 52-week high of $365.88. The stock has a market capitalization of $39.02 billion, a price-to-earnings ratio of 43.84, a price-to-earnings-growth ratio of 1.41 and a beta of 1.05. The company has a fifty day moving average of $312.93 and a 200-day moving average of $305.99. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.19 and a current ratio of 1.30.

Quanta Services (NYSE:PWR) last announced its quarterly earnings data on Thursday, February 20th. The construction company reported $2.74 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.62 by $0.12. Quanta Services had a net margin of 3.82% and a return on equity of 18.00%. The company had revenue of $6.55 billion during the quarter, compared to analysts’ expectations of $6.61 billion. Equities research analysts expect that Quanta Services will post 9.34 EPS for the current year.

Institutional Trading of Quanta Services

Hedge funds and other institutional investors have recently modified their holdings of the business. Banque Transatlantique SA purchased a new stake in shares of Quanta Services in the 4th quarter worth about $25,000. Webster Bank N. A. grew its position in Quanta Services by 4,050.0% during the 4th quarter. Webster Bank N. A. now owns 83 shares of the construction company’s stock valued at $26,000 after purchasing an additional 81 shares during the last quarter. Quarry LP purchased a new stake in Quanta Services during the 4th quarter valued at about $26,000. Sierra Ocean LLC purchased a new stake in Quanta Services during the 4th quarter valued at about $27,000. Finally, Prestige Wealth Management Group LLC purchased a new stake in Quanta Services during the 3rd quarter valued at about $30,000. 90.49% of the stock is owned by hedge funds and other institutional investors.

Quanta Services Company Profile

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.