Daiwa America Downgrades Quanta Services (NYSE:PWR) to Hold

Quanta Services (NYSE:PWR) was downgraded by stock analysts at Daiwa America from a “strong-buy” rating to a “hold” rating in a research report issued to clients and investors on Monday,Zacks.com reports.

Several other analysts also recently weighed in on PWR. Stifel Nicolaus decreased their price target on shares of Quanta Services from $388.00 to $323.00 and set a “buy” rating for the company in a research note on Monday. BMO Capital Markets upgraded Quanta Services from a “market perform” rating to an “outperform” rating and lowered their target price for the stock from $338.00 to $316.00 in a report on Tuesday. Robert W. Baird raised their price target on Quanta Services from $320.00 to $333.00 and gave the company an “outperform” rating in a research note on Friday, November 1st. Guggenheim began coverage on shares of Quanta Services in a research note on Wednesday, January 8th. They issued a “neutral” rating for the company. Finally, Truist Financial cut their target price on shares of Quanta Services from $399.00 to $398.00 and set a “buy” rating on the stock in a research report on Thursday, January 16th. Six research analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $326.95.

Quanta Services Stock Performance

Shares of Quanta Services stock opened at $264.35 on Monday. 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 stock’s fifty day moving average is $312.93 and its two-hundred day moving average is $305.99. Quanta Services has a 52 week low of $227.11 and a 52 week high of $365.88. The company has a market capitalization of $39.02 billion, a PE ratio of 43.84, a price-to-earnings-growth 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, topping 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 for the quarter, compared to analysts’ expectations of $6.61 billion. As a group, analysts expect that Quanta Services will post 9.34 earnings per share for the current year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Banque Transatlantique SA purchased a new stake in shares of Quanta Services during the fourth quarter worth about $25,000. Webster Bank N. A. grew its position in Quanta Services by 4,050.0% during the 4th quarter. Webster Bank N. A. now owns 83 shares of the construction company’s stock worth $26,000 after purchasing an additional 81 shares during the last quarter. Quarry LP acquired a new position in Quanta Services during the 4th quarter valued at approximately $26,000. Sierra Ocean LLC purchased a new position in shares of Quanta Services in the fourth quarter worth $27,000. Finally, Prestige Wealth Management Group LLC acquired a new stake in shares of Quanta Services during the third quarter worth $30,000. 90.49% of the stock is currently 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.