ValuEngine lowered shares of Quanta Services, Inc. (NYSE:PWR) from a buy rating to a hold rating in a report released on Tuesday.
Other equities analysts have also recently issued research reports about the stock. Zacks Investment Research cut shares of Quanta Services from a strong-buy rating to a hold rating in a research note on Wednesday, August 9th. Credit Suisse Group restated a buy rating and issued a $46.00 price objective on shares of Quanta Services in a research note on Wednesday, July 26th. Robert W. Baird cut shares of Quanta Services from an outperform rating to a neutral rating and dropped their price objective for the company from $41.00 to $38.00 in a research note on Wednesday, July 26th. Johnson Rice upgraded shares of Quanta Services from an accumulate rating to a buy rating and increased their price objective for the company from $41.00 to $43.00 in a research note on Friday, August 4th. Finally, BidaskClub upgraded shares of Quanta Services from a sell rating to a hold rating in a research note on Tuesday, August 8th. Two analysts have rated the stock with a sell rating, three have given a hold rating and eight have given a buy rating to the company’s stock. The stock presently has a consensus rating of Hold and an average price target of $41.56.
Quanta Services (NYSE:PWR) opened at 37.36 on Tuesday. Quanta Services has a one year low of $27.29 and a one year high of $38.82. The firm has a market capitalization of $5.80 billion, a price-to-earnings ratio of 21.24 and a beta of 0.83. The firm’s 50-day moving average is $36.38 and its 200 day moving average is $34.44.
Quanta Services (NYSE:PWR) last released its earnings results on Thursday, August 3rd. The construction company reported $0.50 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.53 by ($0.03). Quanta Services had a net margin of 3.21% and a return on equity of 8.36%. The company had revenue of $2.20 billion for the quarter, compared to analyst estimates of $2.13 billion. During the same quarter in the previous year, the company earned $0.18 earnings per share. Quanta Services’s revenue for the quarter was up 22.8% compared to the same quarter last year. Analysts forecast that Quanta Services will post $2.03 EPS for the current fiscal year.
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In other news, EVP Randall C. Wisenbaker sold 9,000 shares of the company’s stock in a transaction dated Wednesday, August 30th. The shares were sold at an average price of $35.15, for a total value of $316,350.00. Following the sale, the executive vice president now owns 34,797 shares of the company’s stock, valued at approximately $1,223,114.55. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Patrick Wood III sold 4,000 shares of the company’s stock in a transaction dated Wednesday, August 23rd. The stock was sold at an average price of $34.51, for a total transaction of $138,040.00. Following the completion of the sale, the director now directly owns 7,506 shares in the company, valued at approximately $259,032.06. The disclosure for this sale can be found here. In the last 90 days, insiders sold 17,000 shares of company stock valued at $597,550. Corporate insiders own 0.70% of the company’s stock.
Institutional investors and hedge funds have recently bought and sold shares of the company. Tower Research Capital LLC TRC grew its holdings in shares of Quanta Services by 182.5% in the 2nd quarter. Tower Research Capital LLC TRC now owns 3,390 shares of the construction company’s stock worth $112,000 after purchasing an additional 2,190 shares during the last quarter. Ameritas Investment Partners Inc. bought a new stake in shares of Quanta Services in the 1st quarter worth about $134,000. Bessemer Group Inc. grew its holdings in shares of Quanta Services by 22.2% in the 2nd quarter. Bessemer Group Inc. now owns 4,628 shares of the construction company’s stock worth $152,000 after purchasing an additional 840 shares during the last quarter. Commonwealth Bank of Australia bought a new stake in shares of Quanta Services in the 2nd quarter worth about $164,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in shares of Quanta Services by 14.0% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 5,748 shares of the construction company’s stock worth $189,000 after purchasing an additional 708 shares during the last quarter. 88.53% of the stock is currently owned by institutional investors and hedge funds.
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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