Quanta Services (NYSE:PWR) Cut to “Neutral” at Daiwa Capital Markets

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

PWR has been the subject of several other reports. Roth Mkm started coverage on Quanta Services in a report on Friday, February 21st. They issued a “buy” rating and a $350.00 price objective for the company. Bank of America began coverage on Quanta Services in a research note on Friday, January 24th. They issued a “buy” rating and a $407.00 target price on the stock. Daiwa America upgraded Quanta Services to a “strong-buy” rating in a research note on Friday, December 6th. Truist Financial dropped their price target on Quanta Services from $399.00 to $398.00 and set a “buy” rating on the stock in a research note on Thursday, January 16th. Finally, Stifel Nicolaus dropped 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. 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 company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $326.95.

Quanta Services Stock Up 1.7 %

NYSE:PWR opened at $268.86 on Monday. Quanta Services has a twelve month low of $227.11 and a twelve month high of $365.88. The company has a market cap of $39.84 billion, a price-to-earnings ratio of 44.59, a price-to-earnings-growth ratio of 1.41 and a beta of 1.05. The stock has a fifty day simple moving average of $311.89 and a 200-day simple moving average of $305.73. The company has a current ratio of 1.30, a quick ratio of 1.19 and a debt-to-equity ratio of 0.56.

Quanta Services (NYSE:PWR) last released its 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. The business had revenue of $6.55 billion during the quarter, compared to the consensus estimate of $6.61 billion. Quanta Services had a return on equity of 18.00% and a net margin of 3.82%. Analysts anticipate that Quanta Services will post 9.34 EPS for the current year.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in the business. Vanguard Group Inc. raised its stake in Quanta Services by 1.0% in the 4th quarter. Vanguard Group Inc. now owns 17,009,421 shares of the construction company’s stock valued at $5,375,828,000 after purchasing an additional 161,277 shares during the last quarter. Capital World Investors grew its holdings in Quanta Services by 14.1% in 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 buying an additional 891,977 shares in the last quarter. State Street Corp grew its holdings in shares of Quanta Services by 1.6% during 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 period. Geode Capital Management LLC grew its holdings in shares of Quanta Services by 2.9% during the 4th quarter. Geode Capital Management LLC now owns 3,558,827 shares of the construction company’s stock worth $1,121,830,000 after purchasing an additional 99,416 shares during the period. Finally, Invesco Ltd. grew its holdings in shares of Quanta Services by 3.7% during the 4th quarter. Invesco Ltd. now owns 1,913,847 shares of the construction company’s stock worth $604,871,000 after purchasing an additional 68,565 shares during the period. 90.49% of the stock is owned by institutional investors and hedge funds.

Quanta Services Company Profile

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.