Bank of Nova Scotia Increases Stock Holdings in Quanta Services, Inc. (NYSE:PWR)

Bank of Nova Scotia raised its position in Quanta Services, Inc. (NYSE:PWR) by 123.9% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 116,016 shares of the construction company’s stock after buying an additional 64,207 shares during the period. Bank of Nova Scotia’s holdings in Quanta Services were worth $36,667,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently bought and sold shares of the business. Janus Henderson Group PLC lifted its holdings in Quanta Services by 4.9% during the 3rd quarter. Janus Henderson Group PLC now owns 17,221 shares of the construction company’s stock worth $5,134,000 after buying an additional 800 shares during the last quarter. EP Wealth Advisors LLC lifted its stake in Quanta Services by 5.9% during the third quarter. EP Wealth Advisors LLC now owns 7,409 shares of the construction company’s stock worth $2,209,000 after purchasing an additional 415 shares during the last quarter. MML Investors Services LLC lifted its holdings in Quanta Services by 8.0% in the third quarter. MML Investors Services LLC now owns 22,086 shares of the construction company’s stock worth $6,585,000 after acquiring an additional 1,643 shares during the last quarter. LRI Investments LLC boosted its stake in Quanta Services by 13.5% in the third quarter. LRI Investments LLC now owns 378 shares of the construction company’s stock valued at $123,000 after acquiring an additional 45 shares during the period. Finally, Brophy Wealth Management LLC acquired a new stake in shares of Quanta Services during the 3rd quarter worth approximately $888,000. 90.49% of the stock is currently owned by hedge funds and other institutional investors.

Quanta Services Stock Down 0.2 %

Shares of Quanta Services stock opened at $244.76 on Wednesday. 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 12-month low of $227.08 and a 12-month high of $365.88. The firm has a market capitalization of $36.27 billion, a PE ratio of 40.59, a price-to-earnings-growth ratio of 1.41 and a beta of 1.04. The stock’s fifty day moving average is $270.15 and its 200-day moving average is $303.38.

Quanta Services (NYSE:PWR) last posted its quarterly earnings data on Thursday, February 20th. The construction company reported $2.74 EPS for the quarter, beating analysts’ consensus estimates of $2.62 by $0.12. The company had revenue of $6.55 billion during the quarter, compared to analyst estimates of $6.61 billion. Quanta Services had a net margin of 3.82% and a return on equity of 18.00%. Equities analysts anticipate 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 paid a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a yield of 0.16%. The ex-dividend date is Thursday, April 3rd. Quanta Services’s dividend payout ratio (DPR) is currently 6.63%.

Analysts Set New Price Targets

PWR has been the topic of a number of recent research reports. JPMorgan Chase & Co. raised their target price on Quanta Services from $297.00 to $323.00 and gave the company a “neutral” rating in a research note on Tuesday, January 28th. Stifel Nicolaus dropped their price target on shares of Quanta Services from $388.00 to $323.00 and set a “buy” rating on the stock in a research note on Monday, February 24th. B. Riley reissued a “neutral” rating and issued a $300.00 price objective (down from $343.00) on shares of Quanta Services in a report on Wednesday, March 19th. Daiwa Capital Markets downgraded Quanta Services from an “outperform” rating to a “neutral” rating in a research note on Monday, February 24th. Finally, Guggenheim assumed coverage on Quanta Services in a report on Wednesday, January 8th. They set a “neutral” rating on the stock. Seven investment analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, Quanta Services presently has a consensus rating of “Moderate Buy” and a consensus target price of $321.05.

Quanta Services Company 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.