National Bank of Canada FI Boosts Holdings in Quanta Services, Inc. (NYSE:PWR)

National Bank of Canada FI boosted its holdings in shares of Quanta Services, Inc. (NYSE:PWR) by 297.3% in the second quarter, HoldingsChannel.com reports. The fund owned 215,914 shares of the construction company’s stock after buying an additional 161,574 shares during the quarter. National Bank of Canada FI’s holdings in Quanta Services were worth $53,455,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently modified their holdings of the company. Vanguard Group Inc. lifted its stake in Quanta Services by 0.6% in the 1st quarter. Vanguard Group Inc. now owns 16,341,230 shares of the construction company’s stock valued at $4,245,452,000 after buying an additional 105,355 shares in the last quarter. JPMorgan Chase & Co. lifted its position in shares of Quanta Services by 2.4% in the first quarter. JPMorgan Chase & Co. now owns 6,760,260 shares of the construction company’s stock valued at $1,756,316,000 after acquiring an additional 156,627 shares in the last quarter. Capital World Investors boosted its stake in shares of Quanta Services by 10.7% during the first quarter. Capital World Investors now owns 6,643,733 shares of the construction company’s stock valued at $1,726,042,000 after acquiring an additional 643,011 shares during the last quarter. Artisan Partners Limited Partnership increased its position in Quanta Services by 384.9% during the 4th quarter. Artisan Partners Limited Partnership now owns 2,438,653 shares of the construction company’s stock worth $526,261,000 after purchasing an additional 1,935,786 shares in the last quarter. Finally, Norges Bank acquired a new position in Quanta Services in the 4th quarter valued at about $335,777,000. Hedge funds and other institutional investors own 90.49% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have issued reports on PWR. The Goldman Sachs Group raised their price target on shares of Quanta Services from $259.00 to $286.00 and gave the stock a “buy” rating in a research note on Tuesday, May 28th. Jefferies Financial Group began coverage on shares of Quanta Services in a research note on Wednesday. They issued a “hold” rating and a $256.00 target price for the company. Argus increased their price target on Quanta Services from $285.00 to $310.00 and gave the stock a “buy” rating in a research note on Thursday, May 30th. Robert W. Baird lifted their price objective on Quanta Services from $287.00 to $288.00 and gave the company an “outperform” rating in a research report on Friday, July 19th. Finally, Northland Securities increased their target price on Quanta Services from $264.00 to $280.00 and gave the stock an “outperform” rating in a research report on Friday, August 2nd. Four analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. Based on data from MarketBeat, Quanta Services presently has an average rating of “Moderate Buy” and a consensus price target of $284.50.

Quanta Services Stock Down 1.7 %

Shares of NYSE:PWR opened at $251.41 on Friday. The company has a market capitalization of $37.04 billion, a price-to-earnings ratio of 48.72 and a beta of 1.01. The company has a 50 day moving average of $259.45 and a two-hundred day moving average of $258.58. Quanta Services, Inc. has a 52-week low of $153.74 and a 52-week high of $286.87. The company has a quick ratio of 1.25, a current ratio of 1.30 and a debt-to-equity ratio of 0.45.

Quanta Services (NYSE:PWR) last released its quarterly earnings results on Thursday, August 1st. The construction company reported $1.90 earnings per share for the quarter, beating analysts’ consensus estimates of $1.75 by $0.15. Quanta Services had a net margin of 3.59% and a return on equity of 16.29%. The business had revenue of $5.59 billion during the quarter, compared to analyst estimates of $5.51 billion. During the same period last year, the business earned $1.47 EPS. The business’s revenue was up 10.8% on a year-over-year basis. As a group, analysts forecast that Quanta Services, Inc. will post 7.78 earnings per share for the current fiscal year.

Quanta Services Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, October 11th. Investors of record on Tuesday, October 1st will be paid a $0.09 dividend. This represents a $0.36 annualized dividend and a dividend yield of 0.14%. The ex-dividend date of this dividend is Tuesday, October 1st. Quanta Services’s dividend payout ratio (DPR) is 6.98%.

Insider Activity at Quanta Services

In other Quanta Services news, insider Gerald A. Ducey, Jr. sold 15,000 shares of the company’s stock in a transaction that occurred on Friday, August 9th. The stock was sold at an average price of $257.93, for a total value of $3,868,950.00. Following the transaction, the insider now directly owns 21,286 shares of the company’s stock, valued at approximately $5,490,297.98. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. In other Quanta Services news, insider Gerald A. Ducey, Jr. sold 15,000 shares of the firm’s stock in a transaction on Friday, August 9th. The shares were sold at an average price of $257.93, for a total transaction of $3,868,950.00. Following the completion of the transaction, the insider now directly owns 21,286 shares of the company’s stock, valued at approximately $5,490,297.98. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Karl W. Studer sold 23,357 shares of the business’s stock in a transaction dated Wednesday, August 21st. The stock was sold at an average price of $270.51, for a total transaction of $6,318,302.07. Following the completion of the sale, the insider now directly owns 10,631 shares of the company’s stock, valued at approximately $2,875,791.81. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 202,357 shares of company stock valued at $53,115,572. 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.