Toronto Dominion Bank Boosts Stock Holdings in Quanta Services, Inc. (NYSE:PWR)

Toronto Dominion Bank lifted its stake in shares of Quanta Services, Inc. (NYSE:PWR - Free Report) by 101.8% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 102,773 shares of the construction company's stock after purchasing an additional 51,836 shares during the quarter. Toronto Dominion Bank owned about 0.07% of Quanta Services worth $32,481,000 at the end of the most recent quarter.

Several other hedge funds have also recently modified their holdings of PWR. Banque Transatlantique SA acquired a new stake in shares of Quanta Services in the 4th quarter worth $25,000. Webster Bank N. A. raised its holdings in Quanta Services by 4,050.0% during the fourth quarter. Webster Bank N. A. now owns 83 shares of the construction company's stock worth $26,000 after purchasing an additional 81 shares in the last quarter. Quarry LP acquired a new stake in Quanta Services in the fourth quarter valued at about $26,000. Sierra Ocean LLC purchased a new stake in Quanta Services in the 4th quarter valued at approximately $27,000. Finally, Sound Income Strategies LLC increased its position in Quanta Services by 700.0% during the 4th quarter. Sound Income Strategies LLC now owns 104 shares of the construction company's stock worth $33,000 after purchasing an additional 91 shares during the period. 90.49% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on PWR shares. Roth Capital upgraded Quanta Services to a "strong-buy" rating in a research note on Thursday, February 20th. Piper Sandler set a $360.00 target price on shares of Quanta Services and gave the stock an "overweight" rating in a research report on Tuesday, May 6th. The Goldman Sachs Group cut their price target on shares of Quanta Services from $418.00 to $364.00 and set a "buy" rating for the company in a report on Thursday, April 24th. Evercore ISI boosted their price objective on shares of Quanta Services from $331.00 to $360.00 and gave the stock an "outperform" rating in a report on Friday, May 2nd. Finally, B. Riley increased their target price on shares of Quanta Services from $300.00 to $355.00 and gave the company a "neutral" rating in a report on Friday, May 2nd. Six investment analysts have rated the stock with a hold rating, fifteen have given a buy rating and two have given a strong buy rating to the company's stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $344.35.

Quanta Services Price Performance

PWR stock traded down $10.52 during trading on Thursday, hitting $330.71. The stock had a trading volume of 1,876,687 shares, compared to its average volume of 1,589,238. The stock has a market cap of $49.03 billion, a price-to-earnings ratio of 54.84, a price-to-earnings-growth ratio of 1.41 and a beta of 1.02. 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 company's 50 day moving average price is $286.60 and its two-hundred day moving average price is $302.53. Quanta Services, Inc. has a 1-year low of $227.08 and a 1-year high of $365.88.

Quanta Services (NYSE:PWR - Get Free Report) last announced its quarterly earnings data on Thursday, May 1st. The construction company reported $1.78 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.72 by $0.06. The business had revenue of $6.23 billion for the quarter, compared to the consensus estimate of $5.88 billion. Quanta Services had a net margin of 3.82% and a return on equity of 18.00%. The company's quarterly revenue was up 23.9% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.41 earnings per share. On average, sell-side analysts forecast that Quanta Services, Inc. will post 9.34 EPS for the current fiscal year.

Quanta Services Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, July 11th. Stockholders of record on Tuesday, July 1st will be issued a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a dividend yield of 0.12%. Quanta Services's dividend payout ratio (DPR) is 6.45%.

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.