Quanta Services, Inc. (NYSE:PWR) Shares Acquired by Scotia Capital Inc.

Scotia Capital Inc. boosted its holdings in Quanta Services, Inc. (NYSE:PWR) by 10.1% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 29,293 shares of the construction company’s stock after purchasing an additional 2,690 shares during the quarter. Scotia Capital Inc.’s holdings in Quanta Services were worth $6,321,000 as of its most recent SEC filing.

Several other hedge funds also recently added to or reduced their stakes in PWR. Artisan Partners Limited Partnership increased its holdings in shares of Quanta Services by 384.9% in the 4th quarter. Artisan Partners Limited Partnership now owns 2,438,653 shares of the construction company’s stock valued at $526,261,000 after acquiring an additional 1,935,786 shares during the period. Norges Bank purchased a new stake in shares of Quanta Services in the fourth quarter valued at about $335,777,000. Nordea Investment Management AB boosted its stake in shares of Quanta Services by 8,297.7% during the fourth quarter. Nordea Investment Management AB now owns 912,413 shares of the construction company’s stock worth $196,205,000 after buying an additional 901,548 shares during the period. Corient Private Wealth LLC increased its position in Quanta Services by 797.6% in the 4th quarter. Corient Private Wealth LLC now owns 613,934 shares of the construction company’s stock valued at $132,487,000 after acquiring an additional 545,534 shares during the period. Finally, UBS Group AG raised its stake in Quanta Services by 31.5% during the 4th quarter. UBS Group AG now owns 1,246,229 shares of the construction company’s stock valued at $268,936,000 after acquiring an additional 298,540 shares during the last quarter. 90.49% of the stock is currently owned by hedge funds and other institutional investors.

Quanta Services Trading Down 1.4 %

Shares of PWR traded down $3.82 during trading hours on Friday, hitting $275.94. The stock had a trading volume of 1,867,899 shares, compared to its average volume of 925,235. The company’s fifty day simple moving average is $261.71 and its 200 day simple moving average is $228.06. Quanta Services, Inc. has a 12-month low of $153.74 and a 12-month high of $286.87. The company has a debt-to-equity ratio of 0.50, a quick ratio of 1.32 and a current ratio of 1.36. The firm has a market cap of $40.39 billion, a P/E ratio of 53.46 and a beta of 1.10.

Quanta Services (NYSE:PWR) last issued its earnings results on Thursday, May 2nd. The construction company reported $1.23 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.09 by $0.14. Quanta Services had a return on equity of 16.25% and a net margin of 3.57%. The business had revenue of $5.03 billion during the quarter, compared to analysts’ expectations of $4.96 billion. Equities research analysts forecast that Quanta Services, Inc. will post 7.69 EPS for the current fiscal year.

Quanta Services Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, July 12th. Investors of record on Monday, July 1st will be given a dividend of $0.09 per share. The ex-dividend date is Monday, July 1st. This represents a $0.36 dividend on an annualized basis and a yield of 0.13%. Quanta Services’s dividend payout ratio (DPR) is 6.98%.

Wall Street Analyst Weigh In

Several brokerages have weighed in on PWR. DA Davidson boosted their target price on Quanta Services from $225.00 to $250.00 and gave the company a “neutral” rating in a report on Tuesday, May 7th. TD Cowen upped their price objective on shares of Quanta Services from $205.00 to $270.00 and gave the stock an “outperform” rating in a research report on Tuesday, February 27th. Evercore ISI lifted their target price on shares of Quanta Services from $255.00 to $288.00 and gave the company an “outperform” rating in a report on Tuesday, May 7th. Stifel Nicolaus increased their price target on shares of Quanta Services from $237.00 to $252.00 and gave the stock a “buy” rating in a report on Friday, February 23rd. Finally, Argus boosted their target price on Quanta Services from $285.00 to $310.00 and gave the stock a “buy” rating in a research report on Thursday. Three analysts have rated the stock with a hold rating and ten have given a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $268.85.

Insider Activity at Quanta Services

In related news, EVP Donald Wayne sold 595 shares of the business’s stock in a transaction that occurred on Tuesday, March 12th. The stock was sold at an average price of $239.61, for a total transaction of $142,567.95. Following the transaction, the executive vice president now directly owns 41,954 shares of the company’s stock, valued at approximately $10,052,597.94. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In the last three months, insiders sold 10,538 shares of company stock worth $2,573,115. Corporate insiders own 1.10% of the company’s stock.

Quanta Services Profile

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.