Stifel Nicolaus Upgrades Quanta Services Inc to Buy

Brokerage firm Stifel Nicolaus Upgrades its rating on Quanta Services Inc(NYSE:PWR). The shares have been rated Buy. Previously, the analysts had a Hold rating on the shares. The rating by Stifel Nicolaus was issued on Aug 5, 2016.

Quanta Services Inc (PWR) made into the market gainers list on Wednesdays trading session with the shares advancing 0.20% or 0.05 points. Due to strong positive momentum, the stock ended at $25.44, which is also near the day’s high of $25.46. The stock began the session at $25.34 and the volume stood at 17,06,510 shares. The 52-week high of the shares is $27.05 and the 52 week low is $16.77. The company has a current market capitalization of $3,668 M and it has 14,41,94,120 shares in outstanding.

Quanta Services Inc(PWR) last announced its earnings results on Aug 4, 2016 for Fiscal Year 2016 and Q2.Company reported revenue of $1.79B. Analysts had an estimated revenue of $1.86B. Earnings per share were $0.18. Analysts had estimated an EPS of $0.36.

Several Insider Transactions has been reported to the SEC. On May 8, 2015, John Michal Conaway (director) sold 9,000 shares at $28.12 per share price.

Quanta Services Inc. (Quanta) is a provider of specialty contracting services offering infrastructure solutions primarily to the electric power and natural gas and oil pipeline industries. The Company operates in two segments such as electric power infrastructure services and oil and gas infrastructure services. The Electric Power Infrastructure Services segment provides network solutions to the electric power industry. Its Electric Power Infrastructure Services segment includes various services such as design installation and maintenance of electric power transmission and distribution infrastructure and substation facilities among others. The Oil and Gas Infrastructure Services segment provides network solutions to customers of development and transportation of natural gas and oil. Its Oil and Gas Infrastructure Services segment include the design installation and maintenance of pipeline transmission distribution systems and gathering systems among others.

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