Bank of Nova Scotia Grows Stake in Quanta Services, Inc. (NYSE:PWR)

Bank of Nova Scotia grew its holdings in Quanta Services, Inc. (NYSE:PWR - Free Report) by 123.9% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 116,016 shares of the construction company's stock after purchasing an additional 64,207 shares during the quarter. Bank of Nova Scotia owned about 0.08% of Quanta Services worth $36,667,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds also recently made changes to their positions in the company. Rathbones Group PLC boosted its holdings in shares of Quanta Services by 10.4% during the 4th quarter. Rathbones Group PLC now owns 7,769 shares of the construction company's stock worth $2,455,000 after buying an additional 731 shares in the last quarter. Twin Capital Management Inc. boosted its stake in Quanta Services by 2.0% during the fourth quarter. Twin Capital Management Inc. now owns 11,733 shares of the construction company's stock worth $3,708,000 after acquiring an additional 231 shares in the last quarter. Invesco Ltd. grew its holdings in Quanta Services by 3.7% in the fourth quarter. Invesco Ltd. now owns 1,913,847 shares of the construction company's stock worth $604,871,000 after purchasing an additional 68,565 shares during the period. Bank of Montreal Can increased its stake in Quanta Services by 2.2% in the fourth quarter. Bank of Montreal Can now owns 284,638 shares of the construction company's stock valued at $89,960,000 after purchasing an additional 6,148 shares in the last quarter. Finally, Cerity Partners LLC raised its holdings in shares of Quanta Services by 2.1% during the fourth quarter. Cerity Partners LLC now owns 136,752 shares of the construction company's stock valued at $43,060,000 after purchasing an additional 2,867 shares during the period. Institutional investors own 90.49% of the company's stock.

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Analyst Upgrades and Downgrades

A number of brokerages recently commented on PWR. Roth Capital raised Quanta Services to a "strong-buy" rating in a research report on Thursday, February 20th. Roth Mkm started coverage on Quanta Services in a report on Friday, February 21st. They set a "buy" rating and a $350.00 price objective for the company. Daiwa America cut Quanta Services from a "strong-buy" rating to a "hold" rating in a report on Monday, February 24th. Bank of America initiated coverage on shares of Quanta Services in a research note on Friday, January 24th. They set a "buy" rating and a $407.00 price target for the company. Finally, Guggenheim initiated coverage on shares of Quanta Services in a report on Wednesday, January 8th. They set a "neutral" rating for the company. Seven investment analysts have rated the stock with a hold rating, fourteen have issued a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $319.25.

Quanta Services Stock Performance

PWR stock traded up $2.65 during mid-day trading on Monday, hitting $272.22. The company had a trading volume of 362,767 shares, compared to its average volume of 1,685,606. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.19 and a current ratio of 1.30. The firm has a market cap of $40.34 billion, a PE ratio of 45.14, a price-to-earnings-growth ratio of 1.41 and a beta of 1.04. Quanta Services, Inc. has a 12 month low of $227.08 and a 12 month high of $365.88. The stock's fifty day moving average price is $267.21 and its two-hundred day moving average price is $302.57.

Quanta Services (NYSE:PWR - Get Free Report) last posted its quarterly earnings results on Thursday, February 20th. The construction company reported $2.74 EPS for the quarter, topping analysts' consensus estimates of $2.62 by $0.12. Quanta Services had a net margin of 3.82% and a return on equity of 18.00%. The company had revenue of $6.55 billion for the quarter, compared to analysts' expectations of $6.61 billion. On average, analysts forecast that Quanta Services, Inc. will post 9.34 earnings per share for the current fiscal year.

Quanta Services Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, April 11th. Shareholders of record on Thursday, April 3rd were issued a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a yield of 0.15%. The ex-dividend date of this dividend was Thursday, April 3rd. Quanta Services's dividend payout ratio (DPR) is presently 6.63%.

About Quanta Services

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.