Quanta Services (NYSE:PWR) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research note issued on Friday.
According to Zacks, “Quanta Services remains confident about the prospects of its end markets over the next two years, as CAPEX and OPEX spends are expected to rise. The company’s communications infrastructure services business is also anticipated to benefit from present industry trends. Additionally, Quanta Services is actively pursuing opportunities with various U.S. telecom and cable MSOs. Also, the company's recent bolt-on acquisitions to stoke growth looks impressive. However, current volatility in the oil and gas market, along with reduced consumer spending, has been affecting the company’s projects and orders, adding to woes. Moreover, shares of Quanta Services have underperformed the industry in the last three months. Also, project losses and delays remain threats. This apart, intensifying competition in the industry and currency fluctuations is affecting the company’s profits.”
Several other brokerages also recently issued reports on PWR. Robert W. Baird set a $42.00 target price on shares of Quanta Services and gave the stock a “hold” rating in a research note on Wednesday, January 3rd. Stifel Nicolaus reiterated a “buy” rating on shares of Quanta Services in a research note on Thursday, December 14th. Citigroup set a $47.00 target price on shares of Quanta Services and gave the stock a “buy” rating in a research note on Friday, October 27th. ValuEngine downgraded shares of Quanta Services from a “buy” rating to a “hold” rating in a research note on Tuesday, October 10th. Finally, Seaport Global Securities reiterated a “buy” rating and issued a $45.00 target price (up previously from $41.00) on shares of Quanta Services in a research note on Wednesday, October 11th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and ten have given a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and a consensus target price of $44.73.
Quanta Services (PWR) traded down $0.20 during trading hours on Friday, reaching $38.53. 1,190,000 shares of the company traded hands, compared to its average volume of 1,284,783. Quanta Services has a 1-year low of $30.23 and a 1-year high of $40.10. The company has a debt-to-equity ratio of 0.20, a current ratio of 1.85 and a quick ratio of 1.80. The company has a market capitalization of $5,940.00, a price-to-earnings ratio of 20.83, a P/E/G ratio of 2.12 and a beta of 0.87.
Quanta Services (NYSE:PWR) last posted its quarterly earnings data on Thursday, November 2nd. The construction company reported $0.63 EPS for the quarter, topping the consensus estimate of $0.61 by $0.02. Quanta Services had a net margin of 3.18% and a return on equity of 8.47%. The business had revenue of $2.61 billion for the quarter, compared to analyst estimates of $2.30 billion. During the same quarter in the previous year, the firm posted $0.55 earnings per share. Quanta Services’s quarterly revenue was up 27.8% on a year-over-year basis. analysts anticipate that Quanta Services will post 1.77 earnings per share for the current year.
Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. State of Alaska Department of Revenue raised its holdings in shares of Quanta Services by 57.1% during the fourth quarter. State of Alaska Department of Revenue now owns 26,150 shares of the construction company’s stock valued at $1,022,000 after purchasing an additional 9,500 shares during the last quarter. Oakbrook Investments LLC raised its holdings in shares of Quanta Services by 12.8% during the fourth quarter. Oakbrook Investments LLC now owns 13,020 shares of the construction company’s stock valued at $509,000 after purchasing an additional 1,480 shares during the last quarter. Schwab Charles Investment Management Inc. raised its holdings in shares of Quanta Services by 4.2% during the fourth quarter. Schwab Charles Investment Management Inc. now owns 861,109 shares of the construction company’s stock valued at $33,678,000 after purchasing an additional 34,681 shares during the last quarter. Waverton Investment Management Ltd raised its holdings in shares of Quanta Services by 23.7% during the fourth quarter. Waverton Investment Management Ltd now owns 13,745 shares of the construction company’s stock valued at $538,000 after purchasing an additional 2,631 shares during the last quarter. Finally, Dalton Greiner Hartman Maher & Co. raised its holdings in shares of Quanta Services by 44.1% during the fourth quarter. Dalton Greiner Hartman Maher & Co. now owns 893,893 shares of the construction company’s stock valued at $34,960,000 after purchasing an additional 273,547 shares during the last quarter. 85.85% of the stock is owned by hedge funds and other institutional investors.
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Quanta Services Company Profile
Quanta Services, Inc is a provider of specialty contracting services, offering infrastructure solutions primarily to the electric power and oil and gas industries in the United States, Canada and Australia and selected other international markets. The Company operates through two segments: Electric Power Infrastructure Services, which provides network solutions to customers in the electric power industry, and Oil and Gas Infrastructure Services, which provides network solutions to customers involved in the development and transportation of natural gas, oil and other pipeline products.
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