Quanta Services (NYSE:PWR) Rating Increased to Hold at B. Riley

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

A number of other equities research analysts have also commented on the company. Bank of America started coverage on Quanta Services in a research report on Friday, January 24th. They set a “buy” rating and a $407.00 price target on the stock. BMO Capital Markets upgraded shares of Quanta Services from a “market perform” rating to an “outperform” rating and dropped their target price for the stock from $338.00 to $316.00 in a report on Tuesday, February 25th. Daiwa Capital Markets cut shares of Quanta Services from an “outperform” rating to a “neutral” rating in a report on Monday, February 24th. Truist Financial lowered their price objective on shares of Quanta Services from $399.00 to $398.00 and set a “buy” rating for the company in a research report on Thursday, January 16th. Finally, Roth Mkm began coverage on shares of Quanta Services in a research report on Friday, February 21st. They issued a “buy” rating and a $350.00 price objective on the stock. Seven research 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. According to MarketBeat.com, Quanta Services has a consensus rating of “Moderate Buy” and an average price target of $326.79.

Quanta Services Stock Up 2.9 %

Shares of NYSE PWR opened at $270.90 on Tuesday. The firm has a 50 day moving average price of $291.03 and a 200 day moving average price of $304.22. 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 stock has a market cap of $40.15 billion, a P/E ratio of 44.93, a P/E/G ratio of 1.41 and a beta of 1.10. 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 results on Thursday, February 20th. The construction company reported $2.74 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.62 by $0.12. The company had revenue of $6.55 billion during the quarter, compared to analyst estimates of $6.61 billion. Quanta Services had a net margin of 3.82% and a return on equity of 18.00%. Analysts expect that Quanta Services will post 9.34 EPS for the current year.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the company. DSG Capital Advisors LLC acquired a new position in Quanta Services during the fourth quarter worth approximately $3,316,000. Chancellor Financial Group WB LP acquired a new stake in Quanta Services during the 4th quarter valued at $312,000. Wealth Enhancement Advisory Services LLC boosted its position in Quanta Services by 27.9% during the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 66,291 shares of the construction company’s stock worth $20,951,000 after purchasing an additional 14,446 shares during the period. Old North State Trust LLC increased its holdings in shares of Quanta Services by 18.6% in the fourth quarter. Old North State Trust LLC now owns 1,730 shares of the construction company’s stock valued at $547,000 after purchasing an additional 271 shares during the last quarter. Finally, Mattson Financial Services LLC lifted its stake in shares of Quanta Services by 6.2% during the 4th quarter. Mattson Financial Services LLC now owns 5,954 shares of the construction company’s stock worth $1,775,000 after buying an additional 348 shares during the last quarter. 90.49% of the stock is currently 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.