Quanta Services (NYSE:PWR) Downgraded to “Neutral” Rating by Daiwa Capital Markets

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

A number of other equities analysts have also recently issued reports on PWR. Bank of America started coverage on Quanta Services in a report on Friday, January 24th. They set a “buy” rating and a $407.00 price objective for the company. Truist Financial decreased their target price on Quanta Services from $399.00 to $398.00 and set a “buy” rating for the company in a research report on Thursday, January 16th. Robert W. Baird lifted their target price on Quanta Services from $320.00 to $333.00 and gave the company an “outperform” rating in a research report on Friday, November 1st. Citigroup decreased their target price on Quanta Services from $394.00 to $371.00 and set a “buy” rating for the company in a research report on Wednesday, January 29th. Finally, JPMorgan Chase & Co. lifted their target price on Quanta Services from $297.00 to $323.00 and gave the company a “neutral” rating in a research report on Tuesday, January 28th. Five equities research analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $328.11.

Quanta Services Price Performance

NYSE PWR traded down $7.59 during trading on Monday, hitting $261.77. 747,598 shares of the stock traded hands, compared to its average volume of 1,566,966. The company has a market capitalization of $38.64 billion, a P/E ratio of 43.41, a price-to-earnings-growth ratio of 1.41 and a beta of 1.05. The firm has a 50-day simple moving average of $316.02 and a 200-day simple moving average of $305.98. 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 has a 12-month low of $227.11 and a 12-month high of $365.88.

Quanta Services (NYSE:PWR) last released 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 business had revenue of $6.55 billion during the quarter, compared to analysts’ expectations of $6.61 billion. Quanta Services had a return on equity of 18.00% and a net margin of 3.82%. As a group, analysts predict that Quanta Services will post 9.34 EPS for the current year.

Institutional Trading of Quanta Services

Several large investors have recently added to or reduced their stakes in PWR. Banque Transatlantique SA purchased a new stake in Quanta Services during the 4th quarter valued at about $25,000. Webster Bank N. A. grew its stake in 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. Quarry LP purchased a new stake in Quanta Services during the 4th quarter valued at about $26,000. Sierra Ocean LLC purchased a new stake in Quanta Services during the 4th quarter valued at about $27,000. Finally, Prestige Wealth Management Group LLC purchased a new stake in Quanta Services during the 3rd quarter valued at about $30,000. Hedge funds and other 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.