BidaskClub Lowers Quanta Services, Inc. (PWR) to Sell
BidaskClub downgraded shares of Quanta Services, Inc. (NYSE:PWR) from a hold rating to a sell rating in a research report sent to investors on Friday morning.
A number of other research analysts have also recently commented on the stock. Zacks Investment Research upgraded shares of Quanta Services from a sell rating to a hold rating in a research note on Tuesday, July 11th. Credit Suisse Group restated a buy rating and set a $47.00 price target on shares of Quanta Services in a research note on Friday, August 4th. ValuEngine upgraded shares of Quanta Services from a hold rating to a buy rating in a research note on Friday, June 2nd. TheStreet cut shares of Quanta Services from a b rating to a c+ rating in a research note on Friday, May 26th. Finally, Stifel Nicolaus restated a buy rating and set a $43.00 price target on shares of Quanta Services in a research note on Friday, July 7th. One research analyst has rated the stock with a sell rating, three have given a hold rating and nine have given a buy rating to the company’s stock. Quanta Services currently has an average rating of Buy and an average target price of $41.44.
Quanta Services (NYSE PWR) opened at 34.04 on Friday. The company has a market capitalization of $5.28 billion, a price-to-earnings ratio of 19.35 and a beta of 0.84. The stock’s 50 day moving average price is $34.19 and its 200 day moving average price is $34.68. Quanta Services has a 12-month low of $24.49 and a 12-month high of $38.82.
Quanta Services (NYSE:PWR) last released its earnings results on Thursday, August 3rd. The construction company reported $0.50 earnings per share for the quarter, missing analysts’ consensus estimates of $0.53 by $0.03. Quanta Services had a return on equity of 8.36% and a net margin of 3.21%. The firm had revenue of $2.20 billion for the quarter, compared to analyst estimates of $2.13 billion. During the same period last year, the business earned $0.18 earnings per share. The firm’s quarterly revenue was up 22.8% compared to the same quarter last year. On average, equities research analysts anticipate that Quanta Services will post $2.03 earnings per share for the current fiscal year.
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Quanta Services declared that its board has initiated a share repurchase plan on Thursday, May 25th that permits the company to repurchase $300.00 million in shares. This repurchase authorization permits the construction company to reacquire shares of its stock through open market purchases. Stock repurchase plans are usually a sign that the company’s management believes its stock is undervalued.
In other news, Director John Michal Conaway sold 4,000 shares of Quanta Services stock in a transaction that occurred on Thursday, August 10th. The shares were sold at an average price of $35.79, for a total value of $143,160.00. Following the completion of the transaction, the director now owns 17,152 shares in the company, valued at $613,870.08. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 0.70% of the company’s stock.
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 worth $103,000 after buying an additional 1,676 shares during the period. Segantii Capital Management Ltd purchased a new position in Quanta Services during the first quarter worth about $115,000. Tower Research Capital LLC TRC boosted its position in Quanta Services by 182.5% in the second quarter. Tower Research Capital LLC TRC now owns 3,390 shares of the construction company’s stock worth $112,000 after buying an additional 2,190 shares during the period. Ameritas Investment Partners Inc. purchased a new position in Quanta Services during the first quarter worth about $134,000. Finally, Bessemer Group Inc. boosted its position in Quanta Services by 22.2% in the second quarter. Bessemer Group Inc. now owns 4,628 shares of the construction company’s stock worth $152,000 after buying an additional 840 shares during the period. Institutional investors own 89.02% of the company’s stock.
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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