Quanta Services (NYSE:PWR) Upgraded to “Hold” at B. Riley

B. Riley upgraded shares of Quanta Services (NYSE:PWR) to a hold rating in a research report sent to investors on Tuesday morning,Zacks.com reports.

PWR has been the subject of a number of other research reports. BMO Capital Markets raised Quanta Services from a “market perform” rating to an “outperform” rating and decreased their target price for the stock from $338.00 to $316.00 in a research report on Tuesday, February 25th. Guggenheim initiated coverage on shares of Quanta Services in a research note on Wednesday, January 8th. They issued a “neutral” rating on the stock. Daiwa America lowered shares of Quanta Services from a “strong-buy” rating to a “hold” rating in a research report on Monday, February 24th. Roth Mkm assumed coverage on Quanta Services in a research report on Friday, February 21st. They issued a “buy” rating and a $350.00 price target on the stock. Finally, Truist Financial dropped their price objective 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. 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 stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $326.79.

Quanta Services Stock Up 0.3 %

PWR stock opened at $271.32 on Tuesday. The firm has a market cap of $40.21 billion, a PE ratio of 45.00, a PEG ratio of 1.41 and a beta of 1.10. Quanta Services has a 1 year low of $227.11 and a 1 year high of $365.88. The company has a fifty day simple moving average of $290.21 and a 200 day simple moving average of $303.99. 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 announced its quarterly earnings results on Thursday, February 20th. The construction company reported $2.74 earnings per share for the quarter, topping analysts’ consensus estimates of $2.62 by $0.12. The company had revenue of $6.55 billion during 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%. Sell-side analysts anticipate that Quanta Services will post 9.34 EPS for the current fiscal year.

Hedge Funds Weigh In On Quanta Services

A number of hedge funds and other institutional investors have recently made changes to their positions in PWR. Banque Transatlantique SA acquired a new position in Quanta Services in the fourth quarter worth about $25,000. Quarry LP bought a new stake in shares of Quanta Services in the 4th quarter valued at approximately $26,000. Webster Bank N. A. raised its holdings in shares of Quanta Services by 4,050.0% in the 4th 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 bought a new position in shares of Quanta Services during the 4th quarter worth approximately $27,000. Finally, Legacy Investment Solutions LLC bought a new stake in Quanta Services in the third quarter valued at $31,000. 90.49% of the stock is owned by institutional investors.

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.