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

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

Several other equities research analysts have also weighed in on PWR. Robert W. Baird lifted their price objective on Quanta Services from $320.00 to $333.00 and gave the stock an “outperform” rating in a report on Friday, November 1st. Truist Financial reduced their target price on shares of Quanta Services from $399.00 to $398.00 and set a “buy” rating for the company in a research note on Thursday, January 16th. Citigroup lowered their price target on shares of Quanta Services from $394.00 to $371.00 and set a “buy” rating on the stock in a research report on Wednesday, January 29th. 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 report on Tuesday, January 28th. Finally, Roth Capital raised shares of Quanta Services to a “strong-buy” rating in a research report on Thursday, February 20th. Six research analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $326.95.

Quanta Services Stock Up 1.9 %

Quanta Services stock opened at $264.35 on Monday. Quanta Services has a fifty-two week low of $227.11 and a fifty-two week high of $365.88. The stock has a market cap of $39.02 billion, a PE ratio of 43.84, a price-to-earnings-growth ratio of 1.41 and a beta of 1.05. The firm’s 50-day simple moving average is $312.93 and its 200 day simple moving average is $305.99. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.19 and a current ratio of 1.30.

Quanta Services (NYSE:PWR) last released 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. The firm had revenue of $6.55 billion for 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 EPS for the current fiscal year.

Hedge Funds Weigh In On Quanta Services

Several hedge funds have recently bought and sold shares of PWR. Swedbank AB grew its stake in Quanta Services by 4.6% during the third quarter. Swedbank AB now owns 960,081 shares of the construction company’s stock valued at $286,248,000 after acquiring an additional 42,579 shares in the last quarter. Assenagon Asset Management S.A. grew its stake in Quanta Services by 10.9% in the 3rd quarter. Assenagon Asset Management S.A. now owns 5,349 shares of the construction company’s stock worth $1,595,000 after buying an additional 526 shares in the last quarter. abrdn plc grew its stake in Quanta Services by 2.4% in the 3rd quarter. abrdn plc now owns 87,803 shares of the construction company’s stock worth $26,103,000 after buying an additional 2,080 shares in the last quarter. Highview Capital Management LLC DE grew its stake in Quanta Services by 3.2% in the 3rd quarter. Highview Capital Management LLC DE now owns 5,218 shares of the construction company’s stock worth $1,556,000 after buying an additional 162 shares in the last quarter. Finally, Adell Harriman & Carpenter Inc. grew its stake in Quanta Services by 1.6% in the 3rd quarter. Adell Harriman & Carpenter Inc. now owns 121,760 shares of the construction company’s stock worth $36,303,000 after buying an additional 1,973 shares in the last quarter. 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.