Quanta Services (NYSE:PWR) Upgraded to Hold at B. Riley

Quanta Services (NYSE:PWR) was upgraded by stock analysts at B. Riley to a “hold” rating in a research note issued to investors on Tuesday,Zacks.com reports.

PWR has been the topic of a number of other research reports. JPMorgan Chase & Co. raised their price target on shares of Quanta Services from $297.00 to $323.00 and gave the company a “neutral” rating in a report on Tuesday, January 28th. Daiwa America downgraded shares of Quanta Services from a “strong-buy” rating to a “hold” rating in a research report on Monday, February 24th. Daiwa Capital Markets cut Quanta Services from an “outperform” rating to a “neutral” rating in a report on Monday, February 24th. Roth Mkm started coverage on Quanta Services in a report on Friday, February 21st. They issued a “buy” rating and a $350.00 price objective for the company. Finally, Guggenheim started coverage on Quanta Services in a 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 stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $326.79.

Quanta Services Stock Performance

Quanta Services stock opened at $270.90 on Tuesday. The stock’s 50 day moving average is $291.03 and its 200 day moving average is $304.22. The company has a market capitalization of $40.15 billion, a P/E ratio of 44.93, a PEG ratio of 1.41 and a beta of 1.10. Quanta Services has a twelve month low of $227.11 and a twelve month 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.

Quanta Services (NYSE:PWR) last issued its quarterly earnings results on Thursday, February 20th. The construction company reported $2.74 earnings per share for the quarter, beating the consensus estimate of $2.62 by $0.12. The firm 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 predict that Quanta Services will post 9.34 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of PWR. Banque Transatlantique SA bought a new position in Quanta Services during the fourth quarter valued at $25,000. Quarry LP purchased a new position in shares of Quanta Services in the 4th quarter worth approximately $26,000. Webster Bank N. A. increased its position 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 valued at $26,000 after purchasing an additional 81 shares during the last quarter. Sierra Ocean LLC purchased a new stake in Quanta Services during the 4th quarter valued at $27,000. Finally, Legacy Investment Solutions LLC bought a new stake in Quanta Services in the third quarter worth $31,000. 90.49% of the stock is currently owned by institutional investors.

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.