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

National Bank of Canada FI trimmed its stake in shares of Quanta Services, Inc. (NYSE:PWR - Free Report) by 40.9% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 135,187 shares of the construction company's stock after selling 93,665 shares during the period. National Bank of Canada FI owned 0.09% of Quanta Services worth $42,726,000 at the end of the most recent quarter.

Several other institutional investors have also modified their holdings of the stock. Geneos Wealth Management Inc. grew its holdings in shares of Quanta Services by 0.7% during the fourth quarter. Geneos Wealth Management Inc. now owns 4,167 shares of the construction company's stock worth $1,317,000 after purchasing an additional 29 shares during the last quarter. Commonwealth Financial Services LLC grew its stake in Quanta Services by 2.6% during the 4th quarter. Commonwealth Financial Services LLC now owns 1,152 shares of the construction company's stock worth $364,000 after buying an additional 29 shares during the last quarter. HB Wealth Management LLC increased its position in Quanta Services by 0.9% during the fourth quarter. HB Wealth Management LLC now owns 3,323 shares of the construction company's stock worth $1,050,000 after buying an additional 31 shares during the period. Moody Lynn & Lieberson LLC boosted its holdings in shares of Quanta Services by 0.5% in the fourth quarter. Moody Lynn & Lieberson LLC now owns 6,141 shares of the construction company's stock valued at $1,941,000 after acquiring an additional 32 shares during the period. Finally, Resurgent Financial Advisors LLC increased its holdings in shares of Quanta Services by 0.7% in the 3rd quarter. Resurgent Financial Advisors LLC now owns 4,773 shares of the construction company's stock valued at $1,423,000 after acquiring an additional 33 shares during the period. Institutional investors and hedge funds own 90.49% of the company's stock.

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Wall Street Analysts Forecast Growth

PWR has been the subject of a number of research reports. Roth Capital raised shares of Quanta Services to a "strong-buy" rating in a report on Thursday, February 20th. B. Riley reiterated a "neutral" rating and issued a $300.00 target price (down from $343.00) on shares of Quanta Services in a research note on Wednesday, March 19th. BMO Capital Markets raised Quanta Services from a "market perform" rating to an "outperform" rating and decreased their price target for the stock from $338.00 to $316.00 in a report on Tuesday, February 25th. Roth Mkm initiated coverage on shares of Quanta Services in a research report on Friday, February 21st. They set a "buy" rating and a $350.00 price objective for the company. Finally, Truist Financial dropped their price target on shares of Quanta Services from $399.00 to $398.00 and set a "buy" rating on the stock in a research note on Thursday, January 16th. Seven equities research analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, Quanta Services presently has a consensus rating of "Moderate Buy" and an average target price of $326.79.

Quanta Services Trading Down 0.5 %

Quanta Services stock traded down $1.10 during trading on Monday, hitting $238.37. The company's stock had a trading volume of 906,067 shares, compared to its average volume of 1,690,145. The stock's fifty day moving average is $273.15 and its 200 day moving average is $304.43. Quanta Services, Inc. has a 1-year low of $227.08 and a 1-year high of $365.88. The stock has a market capitalization of $35.33 billion, a price-to-earnings ratio of 39.53, a P/E/G ratio of 1.41 and a beta of 1.04. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.19 and a current ratio of 1.30.

Quanta Services (NYSE:PWR - Get Free Report) last announced its quarterly earnings data on Thursday, February 20th. The construction company reported $2.74 earnings per share for the quarter, topping the consensus estimate of $2.62 by $0.12. Quanta Services had a net margin of 3.82% and a return on equity of 18.00%. The business had revenue of $6.55 billion for the quarter, compared to analyst estimates of $6.61 billion. As a group, equities research analysts predict that Quanta Services, Inc. will post 9.34 EPS for the current year.

Quanta Services Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, April 11th. Investors of record on Thursday, April 3rd will be issued a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a yield of 0.17%. The ex-dividend date is Thursday, April 3rd. Quanta Services's payout ratio is currently 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.