National Bank of Canada FI Increases Stock Position in Quanta Services, Inc. (NYSE:PWR)

National Bank of Canada FI grew its position in shares of Quanta Services, Inc. (NYSE:PWR - Free Report) by 6.0% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 228,852 shares of the construction company's stock after purchasing an additional 12,938 shares during the quarter. National Bank of Canada FI owned approximately 0.16% of Quanta Services worth $68,232,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also made changes to their positions in PWR. State Street Corp grew its stake in Quanta Services by 1.6% during the 3rd quarter. State Street Corp now owns 5,748,637 shares of the construction company's stock worth $1,713,956,000 after buying an additional 89,975 shares during the last quarter. Electron Capital Partners LLC boosted its holdings in shares of Quanta Services by 395.1% in the second quarter. Electron Capital Partners LLC now owns 2,622,142 shares of the construction company's stock valued at $666,260,000 after acquiring an additional 2,092,519 shares during the period. Massachusetts Financial Services Co. MA grew its position in shares of Quanta Services by 17.8% during the second quarter. Massachusetts Financial Services Co. MA now owns 1,235,655 shares of the construction company's stock worth $313,968,000 after acquiring an additional 186,306 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its holdings in shares of Quanta Services by 4.3% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,060,052 shares of the construction company's stock valued at $316,055,000 after acquiring an additional 43,715 shares during the period. Finally, Swedbank AB raised its position in Quanta Services by 4.6% in the 3rd quarter. Swedbank AB now owns 960,081 shares of the construction company's stock valued at $286,248,000 after purchasing an additional 42,579 shares during the last quarter. Institutional investors and hedge funds own 90.49% of the company's stock.

Quanta Services Price Performance

Shares of PWR traded down $2.50 during trading hours on Friday, reaching $332.47. 1,081,076 shares of the company traded hands, compared to its average volume of 829,965. The stock has a fifty day simple moving average of $319.67 and a 200 day simple moving average of $285.37. Quanta Services, Inc. has a fifty-two week low of $187.27 and a fifty-two week high of $350.19. The stock has a market capitalization of $49.08 billion, a PE ratio of 61.34 and a beta of 1.03. The company has a quick ratio of 1.19, a current ratio of 1.23 and a debt-to-equity ratio of 0.58.

Quanta Services (NYSE:PWR - Get Free Report) last released its quarterly earnings results on Thursday, October 31st. The construction company reported $2.72 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.46 by $0.26. The company had revenue of $6.49 billion for the quarter, compared to analysts' expectations of $6.56 billion. Quanta Services had a net margin of 3.54% and a return on equity of 16.71%. The firm's revenue for the quarter was up 15.5% compared to the same quarter last year. During the same period last year, the company earned $2.08 EPS. As a group, research analysts predict that Quanta Services, Inc. will post 7.9 EPS for the current fiscal year.

Quanta Services Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, January 13th. Investors of record on Thursday, January 2nd will be given a dividend of $0.10 per share. The ex-dividend date of this dividend is Thursday, January 2nd. This is an increase from Quanta Services's previous quarterly dividend of $0.09. This represents a $0.40 annualized dividend and a yield of 0.12%. Quanta Services's dividend payout ratio is 6.64%.

Analyst Ratings Changes

Several research analysts have weighed in on the company. Jefferies Financial Group initiated coverage on Quanta Services in a research note on Wednesday, September 4th. They issued a "hold" rating and a $256.00 target price on the stock. TD Cowen boosted their price objective on shares of Quanta Services from $280.00 to $335.00 and gave the company a "buy" rating in a research note on Tuesday, October 15th. Truist Financial raised their target price on shares of Quanta Services from $319.00 to $358.00 and gave the stock a "buy" rating in a research note on Wednesday, October 9th. Northland Securities reiterated an "outperform" rating and set a $328.00 price target (up from $280.00) on shares of Quanta Services in a research note on Friday, November 1st. Finally, UBS Group increased their price target on shares of Quanta Services from $313.00 to $367.00 and gave the stock a "buy" rating in a report on Wednesday, October 23rd. Four investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $316.81.

Quanta Services Company 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.