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

Quanta Services (NYSE:PWR) was downgraded by research analysts at Daiwa America from a “strong-buy” rating to a “hold” rating in a research report issued on Monday,Zacks.com reports.

Other equities research analysts have also issued research reports about the stock. Daiwa Capital Markets lowered shares of Quanta Services from an “outperform” rating to a “neutral” rating in a report on Monday. Northland Securities reissued an “outperform” rating and set a $328.00 target price (up previously from $280.00) on shares of Quanta Services in a research note on Friday, November 1st. Bank of America initiated coverage on shares of Quanta Services in a research note on Friday, January 24th. They issued a “buy” rating and a $407.00 price target on the stock. Robert W. Baird boosted their price objective on Quanta Services from $320.00 to $333.00 and gave the stock an “outperform” rating in a research note on Friday, November 1st. Finally, BMO Capital Markets upgraded Quanta Services from a “market perform” rating to an “outperform” rating and decreased their target price for the company from $338.00 to $316.00 in a research report on Tuesday. Six investment analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $326.95.

Quanta Services Stock Performance

NYSE PWR opened at $264.35 on Monday. Quanta Services has a fifty-two week low of $227.11 and a fifty-two week high of $365.88. The firm has a market capitalization of $39.02 billion, a P/E ratio of 43.84, a PEG ratio of 1.41 and a beta of 1.05. The stock has a 50-day simple moving average of $312.93 and a two-hundred day simple 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 issued its quarterly earnings data on Thursday, February 20th. The construction company reported $2.74 EPS for the quarter, topping analysts’ consensus estimates of $2.62 by $0.12. The business had revenue of $6.55 billion for the quarter, compared to analysts’ expectations of $6.61 billion. Quanta Services had a net margin of 3.82% and a return on equity of 18.00%. On average, equities analysts forecast that Quanta Services will post 9.34 earnings per share for the current year.

Institutional Investors Weigh In On Quanta Services

Several hedge funds and other institutional investors have recently bought and sold shares of PWR. Vanguard Group Inc. grew its stake in shares of Quanta Services by 1.0% in the 4th quarter. Vanguard Group Inc. now owns 17,009,421 shares of the construction company’s stock valued at $5,375,828,000 after buying an additional 161,277 shares during the period. Capital World Investors lifted its holdings in Quanta Services by 14.1% in the fourth quarter. Capital World Investors now owns 7,223,471 shares of the construction company’s stock valued at $2,282,978,000 after acquiring an additional 891,977 shares during the last quarter. State Street Corp grew its position in Quanta Services by 1.6% in the third quarter. State Street Corp now owns 5,748,637 shares of the construction company’s stock worth $1,713,956,000 after acquiring an additional 89,975 shares during the period. Geode Capital Management LLC raised its position in Quanta Services by 2.9% in the fourth quarter. Geode Capital Management LLC now owns 3,558,827 shares of the construction company’s stock valued at $1,121,830,000 after purchasing an additional 99,416 shares during the period. Finally, Invesco Ltd. lifted its stake in shares of Quanta Services by 3.7% in the 4th quarter. Invesco Ltd. now owns 1,913,847 shares of the construction company’s stock valued at $604,871,000 after purchasing an additional 68,565 shares during the last quarter. 90.49% of the stock is currently owned by institutional investors and hedge funds.

About Quanta Services

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.