Scotia Capital Inc. Purchases New Position in Quanta Services, Inc. (NYSE:PWR)

Scotia Capital Inc. purchased a new position in shares of Quanta Services, Inc. (NYSE:PWR) during the fourth quarter, Holdings Channel reports. The firm purchased 29,340 shares of the construction company’s stock, valued at approximately $9,273,000.

Several other institutional investors also recently bought and sold shares of PWR. F M Investments LLC lifted its position in shares of Quanta Services by 8.5% during the 4th quarter. F M Investments LLC now owns 28,384 shares of the construction company’s stock valued at $8,971,000 after buying an additional 2,223 shares in the last quarter. Advisory Services Network LLC lifted its holdings in Quanta Services by 45.9% during the fourth quarter. Advisory Services Network LLC now owns 27,382 shares of the construction company’s stock valued at $8,654,000 after purchasing an additional 8,616 shares in the last quarter. Abacus FCF Advisors LLC increased its stake in shares of Quanta Services by 46.4% during the fourth quarter. Abacus FCF Advisors LLC now owns 10,165 shares of the construction company’s stock worth $3,213,000 after purchasing an additional 3,224 shares in the last quarter. Bank of Nova Scotia raised its position in shares of Quanta Services by 123.9% during the 4th quarter. Bank of Nova Scotia now owns 116,016 shares of the construction company’s stock worth $36,667,000 after purchasing an additional 64,207 shares during the last quarter. Finally, Rathbones Group PLC lifted its stake in Quanta Services by 10.4% in the 4th quarter. Rathbones Group PLC now owns 7,769 shares of the construction company’s stock valued at $2,455,000 after buying an additional 731 shares in the last quarter. 90.49% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on PWR shares. Stifel Nicolaus cut their price objective on Quanta Services from $323.00 to $287.00 and set a “buy” rating for the company in a research note on Wednesday. Bank of America assumed coverage on Quanta Services in a research report on Friday, January 24th. They set a “buy” rating and a $407.00 price target for the company. B. Riley restated a “neutral” rating and issued a $300.00 price objective (down previously from $343.00) on shares of Quanta Services in a report on Wednesday, March 19th. JPMorgan Chase & Co. upped their target price on shares of Quanta Services from $297.00 to $323.00 and gave the stock a “neutral” rating in a report on Tuesday, January 28th. Finally, BMO Capital Markets raised shares of 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 research note on Tuesday, February 25th. Seven equities research analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $319.25.

Quanta Services Stock Performance

Shares of Quanta Services stock opened at $263.23 on Friday. The firm has a market cap of $39.01 billion, a PE ratio of 43.65, a price-to-earnings-growth ratio of 1.41 and a beta of 1.04. The company has a quick ratio of 1.19, a current ratio of 1.30 and a debt-to-equity ratio of 0.56. Quanta Services, Inc. has a 52 week low of $227.08 and a 52 week high of $365.88. The business’s fifty day simple moving average is $267.81 and its 200-day simple moving average is $302.72.

Quanta Services (NYSE:PWR) last posted its earnings results on Thursday, February 20th. The construction company reported $2.74 EPS for the quarter, beating 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. Equities analysts forecast that Quanta Services, Inc. will post 9.34 earnings per share for the current year.

Quanta Services Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, April 11th. Shareholders of record on Thursday, April 3rd will be given a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a yield of 0.15%. The ex-dividend date of this dividend is Thursday, April 3rd. Quanta Services’s payout ratio is 6.63%.

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.