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

Daiwa Capital Markets downgraded shares of Quanta Services (NYSE:PWR) from an outperform rating to a neutral rating in a research report sent to investors on Monday morning, MarketBeat.com reports.

A number of other analysts have also recently weighed in on the company. Bank of America initiated coverage on Quanta Services in a research report on Friday, January 24th. They set a “buy” rating and a $407.00 price target on the stock. Citigroup dropped their target price on Quanta Services from $394.00 to $371.00 and set a “buy” rating on the stock in a research report on Wednesday, January 29th. Guggenheim began coverage on shares of Quanta Services in a report on Wednesday, January 8th. They set a “neutral” rating for the company. JPMorgan Chase & Co. increased their price objective on shares of Quanta Services from $297.00 to $323.00 and gave the stock a “neutral” rating in a report on Tuesday, January 28th. Finally, Daiwa America upgraded shares of Quanta Services to a “strong-buy” rating in a research report on Friday, December 6th. Five research analysts have rated the stock with a hold rating, fifteen have given a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $328.11.

Quanta Services Stock Performance

Quanta Services stock opened at $259.79 on Monday. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.30 and a quick ratio of 1.19. Quanta Services has a 12 month low of $227.11 and a 12 month high of $365.88. The company has a fifty day moving average price of $314.37 and a two-hundred day moving average price of $305.96. The company has a market cap of $38.35 billion, a PE ratio of 43.08, a P/E/G ratio of 1.41 and a beta of 1.05.

Quanta Services (NYSE:PWR) last posted its quarterly earnings results on Thursday, February 20th. The construction company reported $2.74 EPS 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 analyst estimates of $6.61 billion. Quanta Services had a net margin of 3.82% and a return on equity of 18.00%. Research analysts expect that Quanta Services will post 9.34 earnings per share for the current year.

Hedge Funds Weigh In On Quanta Services

A number of institutional investors have recently modified their holdings of the company. Vanguard Group Inc. lifted its holdings in shares of Quanta Services by 1.0% during the fourth quarter. Vanguard Group Inc. now owns 17,009,421 shares of the construction company’s stock worth $5,375,828,000 after buying an additional 161,277 shares during the last quarter. Capital World Investors raised its stake in Quanta Services by 14.1% during 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 during the last quarter. State Street Corp grew its position in Quanta Services by 1.6% in the 3rd quarter. State Street Corp now owns 5,748,637 shares of the construction company’s stock worth $1,713,956,000 after purchasing an additional 89,975 shares during the last quarter. Geode Capital Management LLC raised its position in shares of Quanta Services by 2.9% during the fourth quarter. Geode Capital Management LLC now owns 3,558,827 shares of the construction company’s stock valued at $1,121,830,000 after buying an additional 99,416 shares during the last quarter. Finally, Invesco Ltd. lifted its stake in shares of Quanta Services by 3.7% in the fourth quarter. Invesco Ltd. now owns 1,913,847 shares of the construction company’s stock valued at $604,871,000 after buying an additional 68,565 shares during the period. 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.