NEW YORK (TheStreet) -- Shares of Quanta Services Inc (PWR) are falling sharply, down 7.8% to $28.12 on heavy volume in midday trading Monday, after the contracting services company had its rating cut to "hold" from "buy" by analysts at BB&T Capital Markets this morning.
Analysts at the firm cited declining oil prices and the impact on earnings for its downgrade.
About 3.11 million shares of Quanta traded hands as of noon today, compared to its average trading volume of about 1.68 million shares a day.
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Houston, TX-based Quanta Services is a provider of specialty contracting services, providing infrastructure solutions to electric power and natural gas and oil pipeline industries.
Separately, TheStreet Ratings team rates QUANTA SERVICES INC as a Buy with a ratings score of B+. TheStreet Ratings Team has this to say about their recommendation:
"We rate QUANTA SERVICES INC (PWR) a BUY. This is driven by multiple strengths, which we believe should have a greater impact than any weaknesses, and should give investors a better performance opportunity than most stocks we cover. The company's strengths can be seen in multiple areas, such as its robust revenue growth, largely solid financial position with reasonable debt levels by most measures, increase in net income, increase in stock price during the past year and notable return on equity. We feel these strengths outweigh the fact that the company shows low profit margins."