Quanta Services, Inc. (NYSE:PWR) Upgraded to “Hold” by BidaskClub
Quanta Services, Inc. (NYSE:PWR) was upgraded by research analysts at BidaskClub from a “sell” rating to a “hold” rating in a research note issued to investors on Thursday.
PWR has been the topic of several other research reports. ValuEngine raised Quanta Services from a “hold” rating to a “buy” rating in a report on Friday, June 2nd. FBR & Co dropped their target price on Quanta Services from $41.00 to $40.00 and set a “mkt perform” rating on the stock in a report on Friday, April 7th. TheStreet raised Quanta Services from a “c+” rating to a “b-” rating in a report on Friday, July 7th. Zacks Investment Research cut Quanta Services from a “hold” rating to a “sell” rating in a report on Wednesday, July 5th. Finally, Robert W. Baird dropped their target price on Quanta Services from $43.00 to $41.00 and set an “outperform” rating on the stock in a report on Thursday, April 6th. Four equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. Quanta Services has an average rating of “Buy” and an average target price of $39.13.
Quanta Services (PWR) traded up 1.84% during midday trading on Thursday, hitting $34.37. The company had a trading volume of 1,989,429 shares. The company’s 50 day moving average is $31.79 and its 200 day moving average is $34.93. Quanta Services has a 12-month low of $23.22 and a 12-month high of $38.82. The stock has a market cap of $5.23 billion, a price-to-earnings ratio of 23.75 and a beta of 0.84.
Quanta Services (NYSE:PWR) last announced its earnings results on Thursday, May 4th. The construction company reported $0.39 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.38 by $0.01. Quanta Services had a return on equity of 7.08% and a net margin of 2.79%. The firm had revenue of $2.18 billion for the quarter, compared to analysts’ expectations of $2.01 billion. During the same quarter in the previous year, the company earned $0.23 earnings per share. The firm’s quarterly revenue was up 27.1% compared to the same quarter last year. On average, equities analysts anticipate that Quanta Services will post $1.95 EPS for the current fiscal year.
Hedge funds and other institutional investors have recently bought and sold shares of the stock. FTB Advisors Inc. boosted its position in Quanta Services by 140.0% in the first quarter. FTB Advisors Inc. now owns 2,873 shares of the construction company’s stock valued at $103,000 after buying an additional 1,676 shares in the last quarter. Segantii Capital Management Ltd purchased a new position in Quanta Services during the first quarter valued at $115,000. Ameritas Investment Partners Inc. purchased a new position in Quanta Services during the first quarter valued at $134,000. LBA Wealth Management LLC purchased a new position in Quanta Services during the first quarter valued at $177,000. Finally, Independent Portfolio Consultants Inc. boosted its position in Quanta Services by 25.3% in the second quarter. Independent Portfolio Consultants Inc. now owns 5,868 shares of the construction company’s stock valued at $193,000 after buying an additional 1,183 shares during the last quarter. 89.30% of the stock is currently owned by institutional investors.
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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