Quanta Services, Inc. (NYSE:PWR) Shares Bought by National Bank of Canada FI

National Bank of Canada FI increased its stake in Quanta Services, Inc. (NYSE:PWR - Free Report) by 59.2% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 81,850 shares of the construction company's stock after purchasing an additional 30,433 shares during the quarter. National Bank of Canada FI owned approximately 0.06% of Quanta Services worth $17,124,000 at the end of the most recent quarter.

A number of other large investors have also bought and sold shares of the company. Forte Capital LLC ADV purchased a new position in shares of Quanta Services in the fourth quarter valued at $1,110,000. Benjamin F. Edwards & Company Inc. purchased a new stake in shares of Quanta Services in the fourth quarter worth $217,000. Aveo Capital Partners LLC grew its position in Quanta Services by 11.0% during the fourth quarter. Aveo Capital Partners LLC now owns 1,313 shares of the construction company's stock worth $283,000 after buying an additional 130 shares in the last quarter. LGT Group Foundation purchased a new position in Quanta Services in the 4th quarter worth approximately $513,000. Finally, Fortitude Advisory Group L.L.C. bought a new position in Quanta Services during the fourth quarter valued at approximately $330,000. 90.49% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other Quanta Services news, EVP Donald Wayne sold 595 shares of the stock in a transaction on Tuesday, March 12th. The stock was sold at an average price of $239.61, for a total value of $142,567.95. Following the completion of the sale, the executive vice president now owns 41,954 shares in the company, valued at approximately $10,052,597.94. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In related news, EVP Donald Wayne sold 595 shares of the business's stock in a transaction that occurred on Tuesday, March 12th. The stock was sold at an average price of $239.61, for a total value of $142,567.95. Following the transaction, the executive vice president now directly owns 41,954 shares of the company's stock, valued at approximately $10,052,597.94. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Worthing Jackman sold 9,572 shares of Quanta Services stock in a transaction that occurred on Wednesday, February 28th. The shares were sold at an average price of $237.31, for a total transaction of $2,271,531.32. Following the sale, the director now owns 7,486 shares in the company, valued at approximately $1,776,502.66. The disclosure for this sale can be found here. Insiders have sold 47,125 shares of company stock worth $11,270,215 in the last three months. Company insiders own 1.10% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on the company. Stifel Nicolaus boosted their price target on Quanta Services from $237.00 to $252.00 and gave the company a "buy" rating in a report on Friday, February 23rd. Truist Financial reiterated a "buy" rating and set a $305.00 price target (up previously from $301.00) on shares of Quanta Services in a research report on Monday. TD Cowen boosted their target price on shares of Quanta Services from $205.00 to $270.00 and gave the company an "outperform" rating in a report on Tuesday, February 27th. Robert W. Baird upped their price objective on shares of Quanta Services from $265.00 to $287.00 and gave the stock an "outperform" rating in a report on Friday, May 3rd. Finally, KeyCorp initiated coverage on Quanta Services in a report on Wednesday, January 10th. They issued a "sector weight" rating on the stock. Three analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. Based on data from MarketBeat, Quanta Services presently has a consensus rating of "Moderate Buy" and a consensus target price of $262.00.

Quanta Services Stock Performance

Shares of Quanta Services stock traded down $2.02 on Wednesday, hitting $264.86. 977,829 shares of the company's stock were exchanged, compared to its average volume of 942,267. The company has a debt-to-equity ratio of 0.50, a quick ratio of 1.32 and a current ratio of 1.36. The stock has a market capitalization of $38.77 billion, a PE ratio of 51.72 and a beta of 1.10. Quanta Services, Inc. has a 1 year low of $153.74 and a 1 year high of $271.96. The company has a 50-day simple moving average of $251.91 and a 200-day simple moving average of $216.41.

Quanta Services (NYSE:PWR - Get Free Report) last released its quarterly earnings results on Thursday, February 22nd. The construction company reported $2.04 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.83 by $0.21. The business had revenue of $5.78 billion during the quarter, compared to analyst estimates of $5.19 billion. Quanta Services had a return on equity of 16.25% and a net margin of 3.57%. Quanta Services's revenue for the quarter was up 31.0% on a year-over-year basis. During the same quarter in the previous year, the company posted $1.54 earnings per share. As a group, equities analysts anticipate that Quanta Services, Inc. will post 7.63 EPS for the current year.

Quanta Services Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, April 17th. Stockholders of record on Tuesday, April 9th were paid a $0.09 dividend. The ex-dividend date was Monday, April 8th. This represents a $0.36 dividend on an annualized basis and a dividend yield of 0.14%. Quanta Services's dividend payout ratio (DPR) is presently 6.98%.

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.