Quanta Services (NYSE:PWR) Upgraded by B. Riley to “Hold” Rating

B. Riley upgraded shares of Quanta Services (NYSE:PWR) to a hold rating in a report issued on Tuesday morning,Zacks.com reports.

A number of other research analysts have also recently weighed in on PWR. JPMorgan Chase & Co. lifted 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. Daiwa Capital Markets cut Quanta Services from an “outperform” rating to a “neutral” rating in a report on Monday, February 24th. Citigroup lowered their price target on Quanta Services from $394.00 to $371.00 and set a “buy” rating on the stock in a report on Wednesday, January 29th. Truist Financial lowered their price target on Quanta Services from $399.00 to $398.00 and set a “buy” rating on the stock in a report on Thursday, January 16th. Finally, Roth Capital raised Quanta Services to a “strong-buy” rating in a report on Thursday, February 20th. Seven equities research analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $326.79.

Quanta Services Trading Up 2.9 %

Quanta Services stock opened at $270.90 on Tuesday. The business has a 50-day simple moving average of $291.03 and a two-hundred day simple moving average of $304.22. The company has a market cap of $40.15 billion, a P/E ratio of 44.93, a P/E/G ratio of 1.41 and a beta of 1.10. Quanta Services has a 52-week low of $227.11 and a 52-week high of $365.88. 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 (NYSE:PWR) last posted its quarterly earnings data 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. Analysts predict that Quanta Services will post 9.34 EPS for the current year.

Hedge Funds Weigh In On Quanta Services

A number of hedge funds and other institutional investors have recently made changes to their positions in PWR. Banque Transatlantique SA purchased a new stake in Quanta Services in the fourth quarter valued at about $25,000. Webster Bank N. A. raised its stake in Quanta Services by 4,050.0% in the fourth quarter. Webster Bank N. A. now owns 83 shares of the construction company’s stock valued at $26,000 after buying an additional 81 shares during the last quarter. Quarry LP purchased a new stake in Quanta Services in the fourth quarter valued at about $26,000. Sierra Ocean LLC purchased a new stake in Quanta Services in the fourth quarter valued at about $27,000. Finally, Prestige Wealth Management Group LLC acquired a new position in shares of Quanta Services in the third quarter valued at about $30,000. 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.