Quanta Services (PWR) Downgraded by DA Davidson

DA Davidson downgraded shares of Quanta Services (NYSE:PWR) from a buy rating to a neutral rating in a report released on Tuesday morning, The Fly reports.

PWR has been the topic of a number of other research reports. ValuEngine cut shares of Quanta Services from a hold rating to a sell rating in a research report on Wednesday, January 2nd. B. Riley reiterated a buy rating and set a $47.00 price objective (down previously from $56.00) on shares of Quanta Services in a research report on Monday, March 11th. Citigroup set a $46.00 price target on shares of Quanta Services and gave the stock a buy rating in a report on Friday, February 22nd. Finally, Zacks Investment Research cut shares of Quanta Services from a hold rating to a sell rating in a report on Thursday, January 3rd. Four analysts have rated the stock with a hold rating and three have given a buy rating to the company. Quanta Services has an average rating of Hold and an average price target of $42.60.

PWR stock opened at $40.15 on Tuesday. The company has a current ratio of 1.84, a quick ratio of 1.78 and a debt-to-equity ratio of 0.29. Quanta Services has a twelve month low of $27.90 and a twelve month high of $40.47. The firm has a market cap of $5.71 billion, a price-to-earnings ratio of 15.87, a PEG ratio of 1.56 and a beta of 1.05.

Quanta Services (NYSE:PWR) last posted its quarterly earnings data on Thursday, February 21st. The construction company reported $0.96 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.90 by $0.06. Quanta Services had a net margin of 2.63% and a return on equity of 10.63%. The business had revenue of $3.11 billion for the quarter, compared to analysts’ expectations of $2.94 billion. During the same quarter in the previous year, the business posted $0.45 earnings per share. The business’s revenue was up 25.6% compared to the same quarter last year. As a group, analysts anticipate that Quanta Services will post 3.24 EPS for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Friday, April 19th. Stockholders of record on Friday, April 5th will be issued a $0.04 dividend. This represents a $0.16 dividend on an annualized basis and a dividend yield of 0.40%. The ex-dividend date is Thursday, April 4th. Quanta Services’s payout ratio is presently 6.32%.

In other news, Director Bernard Fried sold 4,000 shares of the company’s stock in a transaction dated Monday, March 25th. The shares were sold at an average price of $36.63, for a total value of $146,520.00. Following the transaction, the director now directly owns 8,953 shares in the company, valued at $327,948.39. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, EVP Donald Wayne sold 1,295 shares of the company’s stock in a transaction dated Friday, March 1st. The stock was sold at an average price of $36.09, for a total transaction of $46,736.55. Following the completion of the transaction, the executive vice president now owns 30,054 shares in the company, valued at $1,084,648.86. The disclosure for this sale can be found here. Corporate insiders own 0.74% of the company’s stock.

Hedge funds and other institutional investors have recently bought and sold shares of the company. Fort L.P. purchased a new stake in Quanta Services in the fourth quarter worth about $39,000. Valeo Financial Advisors LLC lifted its stake in Quanta Services by 2,541.8% in the first quarter. Valeo Financial Advisors LLC now owns 1,453 shares of the construction company’s stock worth $55,000 after acquiring an additional 1,398 shares during the period. Private Capital Group LLC lifted its stake in Quanta Services by 79.6% in the fourth quarter. Private Capital Group LLC now owns 1,690 shares of the construction company’s stock worth $51,000 after acquiring an additional 749 shares during the period. CSat Investment Advisory L.P. lifted its stake in Quanta Services by 53.7% in the fourth quarter. CSat Investment Advisory L.P. now owns 1,858 shares of the construction company’s stock worth $56,000 after acquiring an additional 649 shares during the period. Finally, Huntington National Bank lifted its stake in Quanta Services by 37.0% in the first quarter. Huntington National Bank now owns 2,220 shares of the construction company’s stock worth $84,000 after acquiring an additional 599 shares during the period. Hedge funds and other institutional investors own 87.82% 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.

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