Quanta Services' (PWR) Neutral Rating Reaffirmed at B. Riley

B. Riley reissued their neutral rating on shares of Quanta Services (NYSE:PWR - Free Report) in a report issued on Wednesday, MarketBeat Ratings reports. The firm currently has a $300.00 price target on the construction company's stock, down from their prior price target of $343.00.

Several other brokerages have also recently weighed in on PWR. Stifel Nicolaus lowered their price target on shares of Quanta Services from $388.00 to $323.00 and set a "buy" rating for the company in a research report on Monday, February 24th. Citigroup lowered their price target on shares of Quanta Services from $394.00 to $371.00 and set a "buy" rating for the company in a research report on Wednesday, January 29th. Daiwa Capital Markets cut shares of Quanta Services from an "outperform" rating to a "neutral" rating in a research report on Monday, February 24th. Roth Capital raised shares of Quanta Services to a "strong-buy" rating in a research report on Thursday, February 20th. Finally, JPMorgan Chase & Co. increased their target price on shares of Quanta Services from $297.00 to $323.00 and gave the company a "neutral" rating in a research report on Tuesday, January 28th. Seven analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $326.79.

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Quanta Services Trading Down 1.0 %

NYSE:PWR traded down $2.67 during mid-day trading on Wednesday, hitting $268.43. 1,606,022 shares of the stock traded hands, compared to its average volume of 1,756,634. The company has a quick ratio of 1.19, a current ratio of 1.30 and a debt-to-equity ratio of 0.56. The stock has a market capitalization of $39.78 billion, a price-to-earnings ratio of 44.52, a PEG ratio of 1.41 and a beta of 1.10. The firm's 50 day moving average is $289.30 and its two-hundred day moving average is $304.61. Quanta Services has a 52 week low of $227.11 and a 52 week high of $365.88.

Quanta Services (NYSE:PWR - Get Free Report) last issued its earnings results on Thursday, February 20th. The construction company reported $2.74 EPS for the quarter, topping analysts' consensus estimates of $2.62 by $0.12. Quanta Services had a net margin of 3.82% and a return on equity of 18.00%. The business had revenue of $6.55 billion for the quarter, compared to the consensus estimate of $6.61 billion. On average, equities research analysts predict that Quanta Services will post 9.34 earnings per share for the current year.

Quanta Services Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, April 11th. Investors of record on Thursday, April 3rd will be given a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a yield of 0.15%. Quanta Services's dividend payout ratio is presently 6.63%.

Institutional Trading of Quanta Services

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. grew its position in Quanta Services by 1.0% during the fourth quarter. Vanguard Group Inc. now owns 17,009,421 shares of the construction company's stock valued at $5,375,828,000 after buying an additional 161,277 shares during the period. Capital World Investors grew its position in Quanta Services by 14.1% during the fourth quarter. Capital World Investors now owns 7,223,471 shares of the construction company's stock valued at $2,282,978,000 after buying an additional 891,977 shares during the period. State Street Corp grew its position in Quanta Services by 1.6% during the third quarter. State Street Corp now owns 5,748,637 shares of the construction company's stock valued at $1,713,956,000 after buying an additional 89,975 shares during the period. Geode Capital Management LLC grew its position in Quanta Services by 2.9% during the fourth quarter. Geode Capital Management LLC now owns 3,558,827 shares of the construction company's stock valued at $1,121,830,000 after buying an additional 99,416 shares during the period. Finally, Invesco Ltd. grew its position in Quanta Services by 3.7% during the fourth quarter. Invesco Ltd. now owns 1,913,847 shares of the construction company's stock valued at $604,871,000 after buying an additional 68,565 shares during the period. Institutional investors and hedge funds own 90.49% of the company's stock.

About Quanta Services

Quanta Services, Inc provides infrastructure solutions for the electric and gas utility, renewable energy, communications, and pipeline and energy industries in the United States, Canada, Australia, and internationally. The company's Electric Power Infrastructure Solutions segment engages in the design, procurement, construction, upgrade, repair, and maintenance of electric power transmission and distribution infrastructure and substation facilities; installation, maintenance, and upgrade of electric power infrastructure projects; installation of smart grid technologies on electric power networks; and design, installation, maintenance, and repair of commercial and industrial wirings.