Quanta Services (NYSE:PWR) Downgraded to “Neutral” Rating by Daiwa Capital Markets

Quanta Services (NYSE:PWR) was downgraded by Daiwa Capital Markets from an “outperform” rating to a “neutral” rating in a research report issued to clients and investors on Monday,Finviz reports.

A number of other research firms have also recently weighed in on PWR. Citigroup reduced their price target on Quanta Services from $394.00 to $371.00 and set a “buy” rating for the company in a report on Wednesday, January 29th. Roth Capital raised Quanta Services to a “strong-buy” rating in a report on Thursday. Robert W. Baird increased their target price on 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 started coverage on Quanta Services in a report on Monday, February 3rd. They set an “outperform” rating and a $338.00 target price for the company. Finally, Roth Mkm started coverage on Quanta Services in a report on Friday. They set a “buy” rating and a $350.00 target price for the company. Five research analysts have rated the stock with a hold rating, fifteen have given a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $328.11.

Quanta Services Stock Performance

Shares of PWR traded down $7.59 during mid-day trading on Monday, reaching $261.77. The company had a trading volume of 747,598 shares, compared to its average volume of 1,566,966. Quanta Services has a 52-week low of $227.11 and a 52-week high of $365.88. The company has a quick ratio of 1.19, a current ratio of 1.30 and a debt-to-equity ratio of 0.56. The stock has a market capitalization of $38.64 billion, a P/E ratio of 43.41, a PEG ratio of 1.41 and a beta of 1.05. The stock has a 50 day moving average of $316.02 and a two-hundred day moving average of $305.98.

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

Hedge Funds Weigh In On Quanta Services

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Norges Bank purchased a new stake in Quanta Services in the 4th quarter valued at approximately $544,937,000. Capital World Investors boosted its holdings in Quanta Services by 14.1% in the 4th quarter. Capital World Investors now owns 7,223,471 shares of the construction company’s stock valued at $2,282,978,000 after purchasing an additional 891,977 shares in the last quarter. Raymond James Financial Inc. purchased a new stake in Quanta Services in the 4th quarter valued at approximately $203,068,000. Bank of America Corp DE boosted its holdings in Quanta Services by 42.8% in the 4th quarter. Bank of America Corp DE now owns 1,691,652 shares of the construction company’s stock valued at $534,647,000 after purchasing an additional 506,722 shares in the last quarter. Finally, Voya Investment Management LLC boosted its holdings in Quanta Services by 210.8% in the 4th quarter. Voya Investment Management LLC now owns 550,598 shares of the construction company’s stock valued at $174,016,000 after purchasing an additional 373,429 shares in the last quarter. Hedge funds and other institutional investors own 90.49% of the company’s stock.

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.