Quanta Services (NYSE:PWR) Stock Rating Upgraded by B. Riley

Quanta Services (NYSE:PWR) was upgraded by stock analysts at B. Riley to a “hold” rating in a research note issued to investors on Tuesday,Zacks.com reports.

PWR has been the subject of several other reports. Daiwa America lowered shares of Quanta Services from a “strong-buy” rating to a “hold” rating in a research note on Monday, February 24th. JPMorgan Chase & Co. lifted their price target on Quanta Services from $297.00 to $323.00 and gave the company a “neutral” rating in a research report on Tuesday, January 28th. Guggenheim initiated coverage on Quanta Services in a report on Wednesday, January 8th. They set a “neutral” rating on the stock. BMO Capital Markets raised Quanta Services from a “market perform” rating to an “outperform” rating and reduced their target price for the company from $338.00 to $316.00 in a report on Tuesday, February 25th. Finally, Bank of America assumed coverage on shares of Quanta Services in a research report on Friday, January 24th. They issued a “buy” rating and a $407.00 price objective for the company. Seven analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, Quanta Services presently has an average rating of “Moderate Buy” and an average target price of $326.79.

Quanta Services Trading Up 2.9 %

NYSE:PWR opened at $270.90 on Tuesday. The firm has a market cap of $40.15 billion, a price-to-earnings ratio of 44.93, 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. The firm has a 50-day moving average price of $291.03 and a two-hundred day moving average price of $304.22. Quanta Services has a 52 week low of $227.11 and a 52 week high of $365.88.

Quanta Services (NYSE:PWR) last announced its quarterly earnings data 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. The business had revenue of $6.55 billion for 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%. On average, equities analysts expect that Quanta Services will post 9.34 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Quanta Services

A number of large investors have recently bought and sold shares of PWR. Kestra Private Wealth Services LLC increased its stake in shares of Quanta Services by 85.0% in the fourth quarter. Kestra Private Wealth Services LLC now owns 4,752 shares of the construction company’s stock worth $1,502,000 after buying an additional 2,184 shares during the period. Principal Financial Group Inc. increased its position in shares of Quanta Services by 5.6% in the third quarter. Principal Financial Group Inc. now owns 207,720 shares of the construction company’s stock valued at $61,932,000 after acquiring an additional 11,012 shares during the period. Synovus Financial Corp raised its stake in shares of Quanta Services by 34.0% during the third quarter. Synovus Financial Corp now owns 7,206 shares of the construction company’s stock valued at $2,148,000 after acquiring an additional 1,830 shares during the last quarter. Hennion & Walsh Asset Management Inc. increased its holdings in Quanta Services by 4.7% during the 4th quarter. Hennion & Walsh Asset Management Inc. now owns 17,573 shares of the construction company’s stock valued at $5,554,000 after purchasing an additional 793 shares during the period. Finally, SeaBridge Investment Advisors LLC bought a new position in Quanta Services during the 4th quarter valued at approximately $1,754,000. 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.