Quanta Services (NYSE:PWR) Cut to “Neutral” at Daiwa Capital Markets

Quanta Services (NYSE:PWR) was downgraded by research analysts at Daiwa Capital Markets from an “outperform” rating to a “neutral” rating in a research note issued on Monday, MarketBeat reports.

Several other brokerages also recently commented on PWR. Robert W. Baird raised their price objective on shares of Quanta Services from $320.00 to $333.00 and gave the stock an “outperform” rating in a research report on Friday, November 1st. Citigroup reduced their price target on shares of Quanta Services from $394.00 to $371.00 and set a “buy” rating for the company in a report on Wednesday, January 29th. Truist Financial cut their price objective on shares of Quanta Services from $399.00 to $398.00 and set a “buy” rating on the stock in a research report on Thursday, January 16th. JPMorgan Chase & Co. boosted their price target 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. Finally, BMO Capital Markets assumed coverage on Quanta Services in a report on Monday, February 3rd. They set an “outperform” rating and a $338.00 price objective for the company. Five analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $326.95.

Quanta Services Price Performance

PWR stock opened at $264.35 on Monday. The company has a quick ratio of 1.19, a current ratio of 1.30 and a debt-to-equity ratio of 0.56. The firm has a market cap of $39.02 billion, a price-to-earnings ratio of 43.84, a PEG ratio of 1.41 and a beta of 1.05. The company’s fifty day simple moving average is $312.93 and its 200 day simple moving average is $305.99. Quanta Services has a 12-month low of $227.11 and a 12-month high of $365.88.

Quanta Services (NYSE:PWR) last announced its quarterly earnings data on Thursday, February 20th. The construction company reported $2.74 earnings per share (EPS) 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 company had revenue of $6.55 billion for the quarter, compared to the consensus estimate of $6.61 billion. On average, analysts expect that Quanta Services will post 9.34 earnings per share for the current year.

Hedge Funds Weigh In On Quanta Services

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

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.