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

Daiwa America cut shares of Quanta Services (NYSE:PWR) from a strong-buy rating to a hold rating in a report released on Monday,Zacks.com reports.

Several other research analysts have also weighed in on the stock. Northland Securities restated an “outperform” rating and set a $328.00 price objective (up from $280.00) on shares of Quanta Services in a research note on Friday, November 1st. Roth Mkm initiated coverage on Quanta Services in a research note on Friday, February 21st. They issued a “buy” rating and a $350.00 price objective on the stock. Roth Capital raised Quanta Services to a “strong-buy” rating in a report on Thursday, February 20th. Citigroup cut their price target on Quanta Services from $394.00 to $371.00 and set a “buy” rating for the company in a report on Wednesday, January 29th. Finally, Daiwa Capital Markets cut shares of Quanta Services from an “outperform” rating to a “neutral” rating in a research report on Monday. Six analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $326.95.

Quanta Services Price Performance

Shares of NYSE PWR opened at $268.86 on Monday. The company has a fifty day moving average price of $311.89 and a 200 day moving average price of $305.73. Quanta Services has a 1-year low of $227.11 and a 1-year high of $365.88. The firm has a market cap of $39.84 billion, a PE ratio of 44.59, 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.

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, topping the consensus estimate of $2.62 by $0.12. The company had revenue of $6.55 billion during 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%. Research analysts predict that Quanta Services will post 9.34 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Quanta Services

A number of hedge funds have recently added to or reduced their stakes in PWR. Vanguard Group Inc. increased its position in shares of Quanta Services by 1.0% in the fourth quarter. Vanguard Group Inc. now owns 17,009,421 shares of the construction company’s stock worth $5,375,828,000 after purchasing an additional 161,277 shares during the period. Capital World Investors boosted its stake in shares of Quanta Services by 14.1% in the 4th quarter. Capital World Investors now owns 7,223,471 shares of the construction company’s stock valued at $2,282,978,000 after purchasing an additional 891,977 shares in the last quarter. State Street Corp grew its holdings in shares of Quanta Services by 1.6% during the 3rd quarter. State Street Corp now owns 5,748,637 shares of the construction company’s stock valued at $1,713,956,000 after purchasing an additional 89,975 shares during the last quarter. Geode Capital Management LLC increased its position in Quanta Services by 2.9% during the 4th quarter. Geode Capital Management LLC now owns 3,558,827 shares of the construction company’s stock worth $1,121,830,000 after purchasing an additional 99,416 shares in the last quarter. Finally, Invesco Ltd. lifted its stake in 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. 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.