Quanta Services (NYSE:PWR) Upgraded at B. Riley

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

PWR has been the subject of a number of other reports. Stifel Nicolaus cut their target price on Quanta Services from $388.00 to $323.00 and set a “buy” rating for the company in a research report on Monday, February 24th. Bank of America began coverage on Quanta Services in a research note on Friday, January 24th. They set a “buy” rating and a $407.00 target price for the company. Guggenheim started coverage on shares of Quanta Services in a research report on Wednesday, January 8th. They issued a “neutral” rating on the stock. Citigroup lowered their price objective on shares of Quanta Services from $394.00 to $371.00 and set a “buy” rating on the stock in a research note on Wednesday, January 29th. Finally, Daiwa Capital Markets lowered shares of Quanta Services from an “outperform” rating to a “neutral” rating in a research note on Monday, February 24th. Seven research analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, Quanta Services presently has a consensus rating of “Moderate Buy” and an average price target of $326.79.

Quanta Services Trading Up 0.3 %

Shares of PWR stock opened at $271.32 on Tuesday. The firm has a market capitalization of $40.21 billion, a PE ratio of 45.00, a price-to-earnings-growth ratio of 1.41 and a beta of 1.10. 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 has a 1 year low of $227.11 and a 1 year high of $365.88. The stock has a fifty day moving average of $290.21 and a two-hundred day moving average of $303.99.

Quanta Services (NYSE:PWR) last announced its earnings results on Thursday, February 20th. The construction company reported $2.74 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.62 by $0.12. Quanta Services had a net margin of 3.82% and a return on equity of 18.00%. The firm had revenue of $6.55 billion during the quarter, compared to analyst estimates of $6.61 billion. As a group, research analysts expect that Quanta Services will post 9.34 EPS for the current year.

Institutional Trading of Quanta Services

A number of hedge funds have recently made changes to their positions in the stock. Geneos Wealth Management Inc. increased its stake in Quanta Services by 0.7% in the 4th quarter. Geneos Wealth Management Inc. now owns 4,167 shares of the construction company’s stock valued at $1,317,000 after buying an additional 29 shares during the period. Commonwealth Financial Services LLC increased its stake in shares of Quanta Services by 2.6% in the fourth quarter. Commonwealth Financial Services LLC now owns 1,152 shares of the construction company’s stock worth $364,000 after acquiring an additional 29 shares during the last quarter. HB Wealth Management LLC raised its holdings in shares of Quanta Services by 0.9% during the fourth quarter. HB Wealth Management LLC now owns 3,323 shares of the construction company’s stock worth $1,050,000 after acquiring an additional 31 shares in the last quarter. Moody Lynn & Lieberson LLC raised its holdings in shares of Quanta Services by 0.5% during the fourth quarter. Moody Lynn & Lieberson LLC now owns 6,141 shares of the construction company’s stock worth $1,941,000 after acquiring an additional 32 shares in the last quarter. Finally, Resurgent Financial Advisors LLC boosted its position in Quanta Services by 0.7% during the third quarter. Resurgent Financial Advisors LLC now owns 4,773 shares of the construction company’s stock valued at $1,423,000 after purchasing an additional 33 shares during the last quarter. 90.49% of the stock is owned by hedge funds and other institutional investors.

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.