Quanta Services’ (PWR) Neutral Rating Reiterated at B. Riley

Quanta Services (NYSE:PWR)‘s stock had its “neutral” rating restated by B. Riley in a report released on Wednesday, Marketbeat Ratings reports. They presently have a $300.00 target price on the construction company’s stock, down from their previous target price of $343.00. B. Riley’s price objective would indicate a potential upside of 10.57% from the stock’s current price.

Several other research firms also recently issued reports on PWR. Roth Capital raised Quanta Services to a “strong-buy” rating in a research note on Thursday, February 20th. Daiwa America downgraded shares of Quanta Services from a “strong-buy” rating to a “hold” rating in a research note on Monday, February 24th. JPMorgan Chase & Co. boosted their target price on shares of Quanta Services from $297.00 to $323.00 and gave the company a “neutral” rating in a research note on Tuesday, January 28th. Stifel Nicolaus cut their target price on shares of Quanta Services from $388.00 to $323.00 and set a “buy” rating for the company in a research note on Monday, February 24th. Finally, Daiwa Capital Markets downgraded shares of Quanta Services from an “outperform” rating to a “neutral” rating in a research note on Monday, February 24th. Seven research analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $326.79.

Quanta Services Trading Up 0.3 %

NYSE:PWR opened at $271.32 on Wednesday. The company has a market capitalization of $40.21 billion, a PE ratio of 45.00, a price-to-earnings-growth ratio of 1.41 and a beta of 1.10. The company has a quick ratio of 1.19, a current ratio of 1.30 and a debt-to-equity ratio of 0.56. Quanta Services has a 52-week low of $227.11 and a 52-week high of $365.88. The stock has a fifty day simple moving average of $290.21 and a 200-day simple moving average of $303.99.

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

Institutional Trading of Quanta Services

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

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.