B. Riley upgraded shares of Quanta Services (NYSE:PWR – Free Report) to a hold rating in a research note issued to investors on Tuesday,Zacks.com reports.
Other analysts have also issued reports about the company. Citigroup dropped their price objective on Quanta Services from $394.00 to $371.00 and set a “buy” rating on the stock in a report on Wednesday, January 29th. Daiwa Capital Markets downgraded Quanta Services from an “outperform” rating to a “neutral” rating in a research report on Monday, February 24th. Stifel Nicolaus reduced their price objective on Quanta Services from $388.00 to $323.00 and set a “buy” rating on the stock in a research report on Monday, February 24th. Roth Capital upgraded Quanta Services to a “strong-buy” rating in a research report on Thursday, February 20th. Finally, Guggenheim assumed coverage on Quanta Services in a research report on Wednesday, January 8th. They issued a “neutral” rating on the stock. Seven investment analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $326.79.
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Quanta Services Stock Up 2.9 %
Quanta Services (NYSE:PWR – Get Free Report) last issued its quarterly earnings data on Thursday, February 20th. The construction company reported $2.74 EPS for the quarter, beating the consensus estimate of $2.62 by $0.12. Quanta Services had a return on equity of 18.00% and a net margin of 3.82%. The company had revenue of $6.55 billion for the quarter, compared to analyst estimates of $6.61 billion. As a group, sell-side analysts anticipate that Quanta Services will post 9.34 earnings per share for the current year.
Institutional Inflows and Outflows
Institutional investors and hedge funds have recently bought and sold shares of the stock. Norges Bank purchased a new stake in Quanta Services during the 4th quarter worth about $544,937,000. Capital World Investors lifted its holdings in Quanta Services by 14.1% during the 4th quarter. Capital World Investors now owns 7,223,471 shares of the construction company’s stock worth $2,282,978,000 after buying an additional 891,977 shares during the last quarter. Raymond James Financial Inc. purchased a new stake in Quanta Services during the 4th quarter worth about $203,068,000. Bank of America Corp DE lifted its holdings in Quanta Services by 42.8% during the 4th quarter. Bank of America Corp DE now owns 1,691,652 shares of the construction company’s stock worth $534,647,000 after buying an additional 506,722 shares during the last quarter. Finally, Voya Investment Management LLC lifted its holdings in Quanta Services by 210.8% during the 4th quarter. Voya Investment Management LLC now owns 550,598 shares of the construction company’s stock worth $174,016,000 after buying an additional 373,429 shares during the last quarter. 90.49% of the stock is owned by institutional investors and hedge funds.
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.
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