Quanta Services’ (PWR) Neutral Rating Reaffirmed at B. Riley

B. Riley reaffirmed their neutral rating on shares of Quanta Services (NYSE:PWR) in a research report released on Wednesday, Marketbeat Ratings reports. The brokerage currently has a $300.00 price objective on the construction company’s stock, down from their prior price objective of $343.00.

Other analysts also recently issued research reports about the stock. Stifel Nicolaus decreased their price objective on shares of Quanta Services from $388.00 to $323.00 and set a “buy” rating for the company in a report on Monday, February 24th. Daiwa America cut shares of Quanta Services from a “strong-buy” rating to a “hold” rating in a report on Monday, February 24th. Guggenheim started coverage on Quanta Services in a research note on Wednesday, January 8th. They issued a “neutral” rating on the stock. Citigroup decreased their target price on Quanta Services from $394.00 to $371.00 and set a “buy” rating for the company in a research report on Wednesday, January 29th. Finally, 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 report on Thursday, January 16th. Seven equities research analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $326.79.

Quanta Services Price Performance

Shares of NYSE PWR opened at $270.90 on Wednesday. The company has a market capitalization of $40.15 billion, a PE ratio of 44.93, a PEG ratio of 1.41 and a beta of 1.10. The company has a quick ratio of 1.19, a current ratio of 1.30 and a debt-to-equity ratio of 0.56. The stock’s 50 day moving average price is $291.03 and its 200-day moving average price is $304.22. Quanta Services has a twelve month low of $227.11 and a twelve month high of $365.88.

Quanta Services (NYSE:PWR) last posted its quarterly earnings data 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. Quanta Services had a return on equity of 18.00% and a net margin of 3.82%. The business had revenue of $6.55 billion for the quarter, compared to analysts’ expectations of $6.61 billion. On average, equities analysts anticipate that Quanta Services will post 9.34 EPS for the current year.

Institutional Trading of Quanta Services

Several institutional investors and hedge funds have recently bought and sold shares of the company. Geneos Wealth Management Inc. increased its holdings in shares of Quanta Services by 0.7% in the fourth quarter. Geneos Wealth Management Inc. now owns 4,167 shares of the construction company’s stock worth $1,317,000 after purchasing an additional 29 shares during the period. Commonwealth Financial Services LLC increased its stake in Quanta Services by 2.6% in the 4th quarter. Commonwealth Financial Services LLC now owns 1,152 shares of the construction company’s stock worth $364,000 after acquiring an additional 29 shares during the last quarter. HB Wealth Management LLC raised its holdings in shares of Quanta Services by 0.9% in the 4th quarter. HB Wealth Management LLC now owns 3,323 shares of the construction company’s stock valued at $1,050,000 after acquiring an additional 31 shares in the last quarter. Moody Lynn & Lieberson LLC boosted its position in shares of Quanta Services by 0.5% during the 4th quarter. Moody Lynn & Lieberson LLC now owns 6,141 shares of the construction company’s stock valued at $1,941,000 after acquiring an additional 32 shares during the last quarter. Finally, Resurgent Financial Advisors LLC grew its holdings in shares of Quanta Services by 0.7% during the third quarter. Resurgent Financial Advisors LLC now owns 4,773 shares of the construction company’s stock worth $1,423,000 after purchasing an additional 33 shares in the last quarter. 90.49% of the stock is currently owned by hedge funds and other institutional investors.

About Quanta Services

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.