Quanta Services Inc. (NYSE:PWR) was downgraded by investment analysts at Avondale Partners from an “outperform” rating to a “market perform” rating in a research note issued to investors on Friday.

Several other analysts have also recently commented on PWR. Stifel Nicolaus upgraded shares of Quanta Services from a “hold” rating to a “buy” rating and set a $28.00 price target for the company in a report on Friday, August 5th. Citigroup Inc. decreased their price target on shares of Quanta Services from $27.00 to $26.00 and set a “neutral” rating for the company in a report on Friday, August 5th. Zacks Investment Research upgraded shares of Quanta Services from a “sell” rating to a “hold” rating in a report on Friday, August 5th. Deutsche Bank AG restated a “buy” rating on shares of Quanta Services in a report on Saturday, August 6th. Finally, Credit Suisse Group AG restated a “buy” rating and set a $26.00 price target on shares of Quanta Services in a report on Monday, August 8th. Three investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. The company presently has an average rating of “Buy” and a consensus price target of $28.50.

Analyst Recommendations for Quanta Services (NYSE:PWR)

Quanta Services (NYSE:PWR) opened at 32.28 on Friday. The stock has a market capitalization of $4.88 billion, a P/E ratio of 48.54 and a beta of 0.60. Quanta Services has a 1-year low of $16.77 and a 1-year high of $33.13. The stock has a 50 day moving average price of $29.18 and a 200-day moving average price of $25.82.

Quanta Services (NYSE:PWR) last posted its quarterly earnings results on Thursday, November 3rd. The company reported $0.55 EPS for the quarter, hitting the consensus estimate of $0.55. The business earned $2.04 billion during the quarter, compared to analysts’ expectations of $2.08 billion. Quanta Services had a net margin of 1.42% and a return on equity of 5.53%. The firm’s quarterly revenue was up 5.2% compared to the same quarter last year. During the same period last year, the company posted $0.30 earnings per share. Equities research analysts expect that Quanta Services will post $1.54 EPS for the current year.

In other news, EVP Randall C. Wisenbaker sold 5,121 shares of Quanta Services stock in a transaction that occurred on Wednesday, August 24th. The shares were sold at an average price of $26.36, for a total value of $134,989.56. Following the transaction, the executive vice president now owns 40,193 shares of the company’s stock, valued at $1,059,487.48. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. 0.70% of the stock is currently owned by insiders.

Institutional investors have recently added to or reduced their stakes in the stock. Geode Capital Management LLC raised its position in Quanta Services by 5.7% in the first quarter. Geode Capital Management LLC now owns 1,787,721 shares of the company’s stock worth $40,269,000 after buying an additional 97,062 shares in the last quarter. AMP Capital Investors Ltd raised its position in Quanta Services by 89.1% in the first quarter. AMP Capital Investors Ltd now owns 205,032 shares of the company’s stock worth $4,638,000 after buying an additional 96,605 shares in the last quarter. Adage Capital Partners GP L.L.C. raised its position in Quanta Services by 0.7% in the first quarter. Adage Capital Partners GP L.L.C. now owns 255,114 shares of the company’s stock worth $5,755,000 after buying an additional 1,700 shares in the last quarter. Panagora Asset Management Inc. raised its position in Quanta Services by 2,729.6% in the first quarter. Panagora Asset Management Inc. now owns 681,851 shares of the company’s stock worth $15,383,000 after buying an additional 657,754 shares in the last quarter. Finally, Babson Capital Management LLC raised its position in Quanta Services by 356.1% in the first quarter. Babson Capital Management LLC now owns 144,737 shares of the company’s stock worth $3,265,000 after buying an additional 113,000 shares in the last quarter. 89.52% of the stock is currently owned by institutional investors.

About Quanta Services

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.

5 Day Chart for NYSE:PWR

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