Quanta Services’ (PWR) “Neutral” Rating Reiterated at B. Riley

Quanta Services (NYSE:PWR)‘s stock had its “neutral” rating restated by stock analysts at B. Riley in a note issued to investors on Wednesday, MarketBeat Ratings reports. They presently have a $300.00 price target on the construction company’s stock, down from their prior price target of $343.00. B. Riley’s price target points to a potential upside of 13.55% from the company’s current price.

A number of other research analysts have also issued reports on PWR. Stifel Nicolaus decreased their target price on Quanta Services from $388.00 to $323.00 and set a “buy” rating on the stock in a research report on Monday, February 24th. Daiwa Capital Markets downgraded Quanta Services from an “outperform” rating to a “neutral” rating in a research note on Monday, February 24th. Citigroup reduced their price objective on Quanta Services from $394.00 to $371.00 and set a “buy” rating for the company in a research note on Wednesday, January 29th. Truist Financial reduced their price objective on Quanta Services from $399.00 to $398.00 and set a “buy” rating for the company in a research note on Thursday, January 16th. Finally, Bank of America started coverage on Quanta Services in a research note on Friday, January 24th. They issued a “buy” rating and a $407.00 price objective for the company. Seven equities research analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, Quanta Services currently has an average rating of “Moderate Buy” and a consensus price target of $326.79.

Quanta Services Stock Up 0.3 %

Shares of PWR traded up $0.84 during mid-day trading on Wednesday, hitting $264.20. 42,333 shares of the company traded hands, compared to its average volume of 1,746,433. Quanta Services has a 1-year low of $227.11 and a 1-year 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. The company has a market capitalization of $39.15 billion, a PE ratio of 43.81, a price-to-earnings-growth ratio of 1.41 and a beta of 1.10. The business has a 50 day moving average of $291.85 and a 200 day moving average of $304.45.

Quanta Services (NYSE:PWR) last issued its quarterly earnings results on Thursday, February 20th. The construction company reported $2.74 earnings per share for the quarter, topping the consensus estimate of $2.62 by $0.12. Quanta Services had a net margin of 3.82% and a return on equity of 18.00%. The company had revenue of $6.55 billion for the quarter, compared to the consensus estimate of $6.61 billion. Equities research analysts anticipate that Quanta Services will post 9.34 EPS for the current year.

Hedge Funds Weigh In On Quanta Services

Institutional investors and hedge funds have recently made changes to their positions in the stock. Banque Transatlantique SA acquired a new position in shares of Quanta Services during the fourth quarter worth about $25,000. Quarry LP acquired a new position in shares of Quanta Services during the fourth quarter worth about $26,000. Webster Bank N. A. grew its position in shares of Quanta Services by 4,050.0% during the fourth quarter. Webster Bank N. A. now owns 83 shares of the construction company’s stock worth $26,000 after buying an additional 81 shares in the last quarter. Sierra Ocean LLC acquired a new position in shares of Quanta Services during the fourth quarter worth about $27,000. Finally, Legacy Investment Solutions LLC acquired a new position in shares of Quanta Services during the third quarter worth about $31,000. 90.49% of the stock is owned by institutional investors and hedge funds.

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.