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

National Bank of Canada FI lowered its position in Quanta Services, Inc. (NYSE:PWR) by 40.9% during the fourth quarter, HoldingsChannel.com reports. The firm owned 135,187 shares of the construction company’s stock after selling 93,665 shares during the quarter. National Bank of Canada FI’s holdings in Quanta Services were worth $42,726,000 as of its most recent SEC filing.

Other hedge funds also recently bought and sold shares of the company. Norges Bank bought a new stake in shares of Quanta Services in the 4th quarter valued at approximately $544,937,000. Raymond James Financial Inc. acquired a new stake in Quanta Services in the fourth quarter valued at approximately $203,068,000. Proficio Capital Partners LLC bought a new stake in Quanta Services in the fourth quarter worth approximately $53,949,000. Vanguard Group Inc. increased its stake in shares of Quanta Services by 1.0% during the 4th quarter. Vanguard Group Inc. now owns 17,009,421 shares of the construction company’s stock worth $5,375,828,000 after purchasing an additional 161,277 shares during the last quarter. Finally, Union Bancaire Privee UBP SA bought a new position in shares of Quanta Services during the 4th quarter valued at $46,364,000. 90.49% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities analysts have commented on the stock. Stifel Nicolaus lowered their target price on shares of Quanta Services from $388.00 to $323.00 and set a “buy” rating on the stock in a research report on Monday, February 24th. BMO Capital Markets raised Quanta Services from a “market perform” rating to an “outperform” rating and lowered their price objective for the company from $338.00 to $316.00 in a report on Tuesday, February 25th. Bank of America began coverage on shares of Quanta Services in a report on Friday, January 24th. They set a “buy” rating and a $407.00 price objective for the company. Roth Capital upgraded Quanta Services to a “strong-buy” rating in a research note on Thursday, February 20th. Finally, Roth Mkm assumed coverage on Quanta Services in a report on Friday, February 21st. They set a “buy” rating and a $350.00 price target for the company. Seven investment analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Quanta Services presently has a consensus rating of “Moderate Buy” and a consensus price target of $326.79.

Quanta Services Stock Up 2.6 %

NYSE PWR opened at $264.62 on Thursday. Quanta Services, Inc. has a 1-year low of $227.11 and a 1-year high of $365.88. The company has a current ratio of 1.30, a quick ratio of 1.19 and a debt-to-equity ratio of 0.56. The stock’s 50 day moving average is $277.57 and its two-hundred day moving average is $304.58. The company has a market capitalization of $39.22 billion, a price-to-earnings ratio of 43.88, a PEG ratio of 1.41 and a beta of 1.10.

Quanta Services (NYSE:PWR) last announced its quarterly earnings results on Thursday, February 20th. The construction company reported $2.74 earnings per share for the quarter, beating analysts’ consensus estimates of $2.62 by $0.12. The firm had revenue of $6.55 billion for the quarter, compared to analysts’ expectations of $6.61 billion. Quanta Services had a return on equity of 18.00% and a net margin of 3.82%. Equities analysts forecast that Quanta Services, Inc. will post 9.34 earnings per share for the current fiscal year.

Quanta Services Dividend Announcement

The company also recently declared 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. The ex-dividend date is Thursday, April 3rd. This represents a $0.40 dividend on an annualized basis and a yield of 0.15%. Quanta Services’s dividend payout ratio (DPR) is presently 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.