Daiwa America Downgrades Quanta Services (NYSE:PWR) to Hold

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 to clients and investors on Monday,Zacks.com reports.

A number of other brokerages have also recently weighed in on PWR. Roth Mkm initiated coverage on Quanta Services in a report on Friday, February 21st. They issued a “buy” rating and a $350.00 target price on the stock. Northland Securities reissued an “outperform” rating and issued a $328.00 price objective (up from $280.00) on shares of Quanta Services in a research report on Friday, November 1st. JPMorgan Chase & Co. raised their price objective on Quanta Services from $297.00 to $323.00 and gave the company a “neutral” rating in a research report on Tuesday, January 28th. Roth Capital raised Quanta Services to a “strong-buy” rating in a research report on Thursday, February 20th. Finally, Citigroup cut their price objective on Quanta Services from $394.00 to $371.00 and set a “buy” rating on the stock in a research report on Wednesday, January 29th. Six equities research analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, Quanta Services has a consensus rating of “Moderate Buy” and an average target price of $326.95.

Quanta Services Price Performance

Shares of Quanta Services stock opened at $264.35 on Monday. Quanta Services has a twelve month low of $227.11 and a twelve month high of $365.88. The stock 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 company has a current ratio of 1.30, a quick ratio of 1.19 and a debt-to-equity ratio of 0.56. The business’s fifty day moving average price is $312.93 and its 200 day moving average price is $305.99.

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

Institutional Trading of Quanta Services

Several hedge funds and other institutional investors have recently bought and sold shares of the company. United Advisor Group LLC bought a new stake in Quanta Services in the fourth quarter valued at about $279,000. Challenger Wealth Management bought a new stake in Quanta Services in the fourth quarter valued at about $610,000. Mackenzie Financial Corp increased its holdings in Quanta Services by 5.4% in the fourth quarter. Mackenzie Financial Corp now owns 13,242 shares of the construction company’s stock valued at $4,185,000 after buying an additional 677 shares during the last quarter. Forum Financial Management LP increased its holdings in Quanta Services by 8.7% in the fourth quarter. Forum Financial Management LP now owns 3,839 shares of the construction company’s stock valued at $1,213,000 after buying an additional 307 shares during the last quarter. Finally, Castlekeep Investment Advisors LLC acquired a new position in Quanta Services in the fourth quarter valued at approximately $306,000. 90.49% of the stock is owned by institutional investors.

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.