National Bank of Canada FI Has $49.51 Million Holdings in Quanta Services, Inc. (NYSE:PWR)

Key Points

• National Bank of Canada FI has increased its stake in Quanta Services, Inc. by 44.1%, now owning a total of 194,804 shares worth approximately $49.5 million.
• Recent price target upgrades for Quanta Services include an increase by UBS Group from $413 to $474, indicating strong analyst confidence in the stock's potential.
• Quanta Services reported $6.77 billion in revenue for the most recent quarter, surpassing analyst expectations while also achieving an earnings per share (EPS) of $2.48, beating estimates.

National Bank of Canada FI grew its holdings in Quanta Services, Inc. (NYSE:PWR - Free Report) by 44.1% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 194,804 shares of the construction company's stock after purchasing an additional 59,617 shares during the quarter. National Bank of Canada FI owned about 0.13% of Quanta Services worth $49,511,000 as of its most recent SEC filing.

Other institutional investors have also bought and sold shares of the company. SCP Investment LP acquired a new stake in Quanta Services in the 1st quarter valued at approximately $966,000. Brighton Jones LLC acquired a new position in Quanta Services in the fourth quarter valued at $298,000. Wealth Enhancement Advisory Services LLC increased its stake in shares of Quanta Services by 3.7% during the first quarter. Wealth Enhancement Advisory Services LLC now owns 68,770 shares of the construction company's stock worth $17,480,000 after acquiring an additional 2,479 shares during the period. Farther Finance Advisors LLC raised its holdings in Quanta Services by 60.0% during the first quarter. Farther Finance Advisors LLC now owns 1,568 shares of the construction company's stock worth $404,000 after purchasing an additional 588 shares in the last quarter. Finally, Objectivity Squared LLC purchased a new position in Quanta Services during the first quarter worth about $213,000. 90.49% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

PWR has been the subject of several analyst reports. B. Riley increased their price target on shares of Quanta Services from $300.00 to $355.00 and gave the stock a "neutral" rating in a report on Friday, May 2nd. Wall Street Zen upgraded shares of Quanta Services from a "hold" rating to a "buy" rating in a research report on Friday, June 27th. Stifel Nicolaus increased their price target on shares of Quanta Services from $411.00 to $432.00 and gave the company a "buy" rating in a research report on Monday, August 4th. Sanford C. Bernstein downgraded shares of Quanta Services from an "outperform" rating to a "market perform" rating and set a $410.00 price objective on the stock. in a research note on Monday, July 28th. Finally, Citigroup upped their price objective on shares of Quanta Services from $432.00 to $492.00 and gave the company a "buy" rating in a research note on Monday, July 28th. Twelve investment analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. Based on data from MarketBeat.com, Quanta Services has an average rating of "Moderate Buy" and a consensus target price of $392.45.

Quanta Services Stock Up 1.9%

Shares of NYSE PWR traded up $7.43 during midday trading on Tuesday, reaching $391.55. The company's stock had a trading volume of 858,704 shares, compared to its average volume of 1,259,859. The company has a current ratio of 1.37, a quick ratio of 1.32 and a debt-to-equity ratio of 0.59. The stock has a 50 day simple moving average of $381.71 and a 200-day simple moving average of $320.88. Quanta Services, Inc. has a fifty-two week low of $227.08 and a fifty-two week high of $424.94. The stock has a market capitalization of $58.34 billion, a price-to-earnings ratio of 60.61, a PEG ratio of 2.28 and a beta of 1.10.

Quanta Services (NYSE:PWR - Get Free Report) last announced its earnings results on Thursday, July 31st. The construction company reported $2.48 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.44 by $0.04. The company had revenue of $6.77 billion during the quarter, compared to analysts' expectations of $6.55 billion. Quanta Services had a net margin of 3.73% and a return on equity of 18.41%. Quanta Services's quarterly revenue was up 21.1% on a year-over-year basis. During the same quarter in the previous year, the business posted $1.90 earnings per share. Equities research analysts predict that Quanta Services, Inc. will post 9.34 earnings per share for the current year.

Quanta Services Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, July 11th. Investors of record on Tuesday, July 1st were paid a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a yield of 0.1%. The ex-dividend date of this dividend was Tuesday, July 1st. Quanta Services's payout ratio is 6.19%.

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.