ValuEngine Downgrades Quanta Services (NYSE:PWR) to Sell

Quanta Services (NYSE:PWR) was downgraded by ValuEngine from a “hold” rating to a “sell” rating in a research report issued to clients and investors on Wednesday, ValuEngine reports.

Several other equities analysts have also commented on PWR. Vertical Research assumed coverage on shares of Quanta Services in a research report on Friday, August 23rd. They set a “buy” rating and a $41.00 price target for the company. Stephens set a $42.00 price target on shares of Quanta Services and gave the stock a “buy” rating in a research report on Friday, August 16th. TheStreet upgraded shares of Quanta Services from a “c+” rating to a “b-” rating in a research report on Wednesday, September 25th. Stifel Nicolaus upped their price target on shares of Quanta Services from $43.00 to $45.00 and gave the stock a “buy” rating in a research report on Tuesday, September 10th. Finally, Citigroup upped their price objective on shares of Quanta Services from $48.00 to $50.00 and gave the stock a “buy” rating in a report on Monday, September 23rd. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and five have given a buy rating to the stock. The company has an average rating of “Buy” and an average target price of $44.33.

Quanta Services stock opened at $41.55 on Wednesday. The company has a 50-day simple moving average of $41.86 and a 200-day simple moving average of $37.97. The firm has a market capitalization of $5.72 billion, a P/E ratio of 16.42, a P/E/G ratio of 0.93 and a beta of 1.25. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.80 and a current ratio of 1.82. Quanta Services has a one year low of $27.90 and a one year high of $44.09.

Quanta Services (NYSE:PWR) last released its quarterly earnings results on Thursday, October 31st. The construction company reported $1.14 EPS for the quarter, topping the consensus estimate of $0.97 by $0.17. The business had revenue of $3.35 billion during the quarter, compared to analyst estimates of $3.17 billion. Quanta Services had a net margin of 2.81% and a return on equity of 12.17%. The company’s quarterly revenue was up 12.3% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.88 earnings per share. As a group, sell-side analysts forecast that Quanta Services will post 2.97 earnings per share for the current year.

In related news, VP Dorothy Upperman sold 5,764 shares of the company’s stock in a transaction dated Monday, November 4th. The shares were sold at an average price of $43.86, for a total value of $252,809.04. Following the completion of the sale, the vice president now owns 13,134 shares of the company’s stock, valued at $576,057.24. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CAO Jerry K. Lemon sold 2,750 shares of the company’s stock in a transaction dated Tuesday, November 5th. The stock was sold at an average price of $43.70, for a total transaction of $120,175.00. Following the completion of the sale, the chief accounting officer now directly owns 10,277 shares of the company’s stock, valued at approximately $449,104.90. The disclosure for this sale can be found here. Corporate insiders own 1.20% of the company’s stock.

A number of hedge funds have recently bought and sold shares of the stock. Crow Point Partners LLC lifted its holdings in Quanta Services by 3.4% in the 3rd quarter. Crow Point Partners LLC now owns 9,848 shares of the construction company’s stock valued at $372,000 after acquiring an additional 326 shares during the last quarter. LS Investment Advisors LLC lifted its holdings in Quanta Services by 2.3% in the 2nd quarter. LS Investment Advisors LLC now owns 15,781 shares of the construction company’s stock valued at $603,000 after acquiring an additional 350 shares during the last quarter. Schafer Cullen Capital Management Inc lifted its holdings in Quanta Services by 2.2% in the 3rd quarter. Schafer Cullen Capital Management Inc now owns 17,080 shares of the construction company’s stock valued at $646,000 after acquiring an additional 365 shares during the last quarter. Parkside Financial Bank & Trust lifted its holdings in Quanta Services by 60.7% in the 3rd quarter. Parkside Financial Bank & Trust now owns 1,038 shares of the construction company’s stock valued at $39,000 after acquiring an additional 392 shares during the last quarter. Finally, Peddock Capital Advisors LLC raised its holdings in Quanta Services by 2.5% during the 2nd quarter. Peddock Capital Advisors LLC now owns 18,252 shares of the construction company’s stock worth $697,000 after buying an additional 447 shares during the period. 89.03% of the stock is owned by institutional investors and hedge funds.

About Quanta Services

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.

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Analyst Recommendations for Quanta Services (NYSE:PWR)

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