Quanta Services, Inc. (NYSE:PWR) – B. Riley cut their Q4 2017 earnings estimates for shares of Quanta Services in a research note issued on Monday. B. Riley analyst A. Rygiel now expects that the construction company will post earnings of $0.41 per share for the quarter, down from their previous forecast of $0.47. B. Riley currently has a “Buy” rating and a $48.00 target price on the stock. B. Riley also issued estimates for Quanta Services’ FY2018 earnings at $2.30 EPS.

Quanta Services (NYSE:PWR) last announced its earnings results on Thursday, November 2nd. The construction company reported $0.63 earnings per share for the quarter, beating the consensus estimate of $0.61 by $0.02. Quanta Services had a return on equity of 8.47% and a net margin of 3.18%. The firm had revenue of $2.61 billion during the quarter, compared to the consensus estimate of $2.30 billion. During the same quarter in the prior year, the company earned $0.55 EPS. The firm’s revenue for the quarter was up 27.8% compared to the same quarter last year.

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Several other research firms have also recently commented on PWR. Stifel Nicolaus reissued a “buy” rating and issued a $45.00 target price on shares of Quanta Services in a research note on Thursday, September 7th. Credit Suisse Group restated a “buy” rating and issued a $47.00 price target on shares of Quanta Services in a research report on Friday, August 4th. Johnson Rice upgraded Quanta Services from an “accumulate” rating to a “buy” rating and raised their price target for the stock from $41.00 to $43.00 in a research report on Friday, August 4th. FBR & Co raised Quanta Services to an “outperform” rating and lifted their price target for the company from $40.00 to $45.00 in a research note on Wednesday, August 9th. Finally, Zacks Investment Research downgraded Quanta Services from a “hold” rating to a “sell” rating in a research report on Monday, October 9th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and ten have issued a buy rating to the company. The stock currently has a consensus rating of “Buy” and a consensus price target of $44.55.

Shares of Quanta Services (PWR) opened at $35.84 on Thursday. Quanta Services has a 52-week low of $30.23 and a 52-week high of $38.82. The company has a quick ratio of 1.80, a current ratio of 1.85 and a debt-to-equity ratio of 0.20. The company has a market capitalization of $5,494.13, a P/E ratio of 18.59, a price-to-earnings-growth ratio of 2.51 and a beta of 0.87.

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Schroder Investment Management Group lifted its position in Quanta Services by 14.8% in the 3rd quarter. Schroder Investment Management Group now owns 99,169 shares of the construction company’s stock valued at $3,721,000 after acquiring an additional 12,762 shares in the last quarter. Trexquant Investment LP bought a new position in Quanta Services in the 3rd quarter valued at about $393,000. JPMorgan Chase & Co. lifted its position in Quanta Services by 128.3% in the 3rd quarter. JPMorgan Chase & Co. now owns 356,196 shares of the construction company’s stock valued at $13,365,000 after acquiring an additional 200,209 shares in the last quarter. Legal & General Group Plc lifted its position in Quanta Services by 1.8% in the 3rd quarter. Legal & General Group Plc now owns 213,708 shares of the construction company’s stock valued at $7,988,000 after acquiring an additional 3,716 shares in the last quarter. Finally, Nordea Investment Management AB increased its stake in Quanta Services by 55.8% in the 3rd quarter. Nordea Investment Management AB now owns 249,975 shares of the construction company’s stock valued at $9,342,000 after buying an additional 89,534 shares during the last quarter. 86.82% of the stock is currently owned by institutional investors and hedge funds.

In other news, Director Patrick Wood III sold 4,000 shares of the stock in a transaction dated Wednesday, August 23rd. The shares were sold at an average price of $34.51, for a total transaction of $138,040.00. Following the transaction, the director now owns 7,506 shares of the company’s stock, valued at approximately $259,032.06. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Randall C. Wisenbaker sold 9,000 shares of the stock in a transaction dated Wednesday, August 30th. The stock was sold at an average price of $35.15, for a total transaction of $316,350.00. Following the transaction, the executive vice president now directly owns 34,797 shares in the company, valued at approximately $1,223,114.55. The disclosure for this sale can be found here. Corporate insiders own 0.70% 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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