Quanta Services (NYSE:PWR) Stock Rating Lowered by ValuEngine

Quanta Services (NYSE:PWR) was downgraded by investment analysts at ValuEngine from a “hold” rating to a “sell” rating in a research note issued on Thursday, ValuEngine reports.

Several other equities research analysts have also weighed in on the stock. Zacks Investment Research raised shares of Quanta Services from a “sell” rating to a “hold” rating and set a $36.00 target price on the stock in a report on Monday, May 4th. Stephens upped their target price on shares of Quanta Services from $50.00 to $52.00 and gave the stock an “overweight” rating in a report on Monday, March 2nd. KeyCorp upped their target price on shares of Quanta Services from $38.00 to $45.00 and gave the stock an “overweight” rating in a report on Tuesday, April 28th. Credit Suisse Group lowered their target price on shares of Quanta Services from $48.00 to $47.00 and set an “outperform” rating on the stock in a report on Friday, May 8th. Finally, Citigroup lowered their target price on shares of Quanta Services from $50.00 to $41.00 and set a “buy” rating on the stock in a report on Wednesday, April 1st. One analyst has rated the stock with a sell rating, one has issued a hold rating and nine have given a buy rating to the company’s stock. The company has an average rating of “Buy” and an average target price of $44.50.

Quanta Services stock traded up $0.40 on Thursday, hitting $34.25. The company’s stock had a trading volume of 1,034,099 shares, compared to its average volume of 1,477,883. The firm has a market cap of $4.66 billion, a P/E ratio of 13.22, a price-to-earnings-growth ratio of 0.82 and a beta of 1.15. The company has a quick ratio of 1.75, a current ratio of 1.78 and a debt-to-equity ratio of 0.47. The company has a fifty day moving average price of $33.25 and a 200-day moving average price of $37.64. Quanta Services has a one year low of $23.77 and a one year high of $44.09.

Quanta Services (NYSE:PWR) last announced its quarterly earnings results on Thursday, May 7th. The construction company reported $0.47 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.46 by $0.01. Quanta Services had a net margin of 2.65% and a return on equity of 9.72%. The firm had revenue of $2.76 billion for the quarter, compared to analyst estimates of $2.74 billion. During the same quarter in the previous year, the firm posted $0.96 EPS. The business’s revenue for the quarter was down 1.5% on a year-over-year basis. Analysts anticipate that Quanta Services will post 2.86 EPS for the current year.

In related news, EVP Donald Wayne sold 1,295 shares of the company’s stock in a transaction dated Monday, March 2nd. The shares were sold at an average price of $37.73, for a total transaction of $48,860.35. Following the transaction, the executive vice president now owns 35,257 shares in the company, valued at approximately $1,330,246.61. The sale was disclosed in a filing with the SEC, which can be accessed through this link. 1.40% of the stock is owned by corporate insiders.

A number of institutional investors have recently added to or reduced their stakes in PWR. Commerzbank Aktiengesellschaft FI lifted its position in Quanta Services by 5.9% during the 4th quarter. Commerzbank Aktiengesellschaft FI now owns 9,991 shares of the construction company’s stock valued at $407,000 after purchasing an additional 555 shares during the period. Steward Partners Investment Advisory LLC lifted its position in Quanta Services by 15.7% during the 4th quarter. Steward Partners Investment Advisory LLC now owns 1,801 shares of the construction company’s stock valued at $73,000 after purchasing an additional 244 shares during the period. Janney Montgomery Scott LLC acquired a new position in Quanta Services during the 4th quarter valued at about $477,000. Zurcher Kantonalbank Zurich Cantonalbank lifted its position in Quanta Services by 67.3% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 16,413 shares of the construction company’s stock valued at $668,000 after purchasing an additional 6,600 shares during the period. Finally, Campbell & CO Investment Adviser LLC lifted its position in Quanta Services by 43.5% during the 4th quarter. Campbell & CO Investment Adviser LLC now owns 9,738 shares of the construction company’s stock valued at $396,000 after purchasing an additional 2,950 shares during the period. Institutional investors own 96.33% of the company’s stock.

Quanta Services Company Profile

Quanta Services, Inc provides specialty contracting services in the United States, Canada, Australia, Latin America, and internationally. Its Electric Power Infrastructure Services segment designs, installs, upgrades, repairs, and maintains electric power transmission and distribution infrastructure, and substation facilities, as well as provides other engineering and technical services; designs, installs, maintains, and repairs commercial and industrial wiring; and operates a postsecondary educational institution.

Read More: Example of operating income, EBIT and EBITDA

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Analyst Recommendations for Quanta Services (NYSE:PWR)

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