TD Waterhouse Canada Inc. Purchases 5,539 Shares of Quanta Services, Inc. $PWR

TD Waterhouse Canada Inc. lifted its holdings in shares of Quanta Services, Inc. (NYSE:PWR) by 9.9% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 61,626 shares of the construction company’s stock after acquiring an additional 5,539 shares during the period. TD Waterhouse Canada Inc.’s holdings in Quanta Services were worth $25,929,000 at the end of the most recent reporting period.

Other large investors also recently made changes to their positions in the company. Norges Bank bought a new position in shares of Quanta Services during the 2nd quarter valued at approximately $675,802,000. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main grew its position in Quanta Services by 57.2% during the second quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 2,425,436 shares of the construction company’s stock worth $917,009,000 after buying an additional 882,209 shares in the last quarter. Select Equity Group L.P. raised its holdings in shares of Quanta Services by 69.3% in the 2nd quarter. Select Equity Group L.P. now owns 1,017,123 shares of the construction company’s stock valued at $384,554,000 after acquiring an additional 416,395 shares in the last quarter. Vanguard Group Inc. boosted its stake in Quanta Services by 1.9% in the second quarter. Vanguard Group Inc. now owns 17,756,682 shares of the construction company’s stock worth $6,713,446,000 after buying an additional 339,383 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC grew its position in Quanta Services by 150.6% during the second quarter. Allspring Global Investments Holdings LLC now owns 419,098 shares of the construction company’s stock valued at $156,026,000 after acquiring an additional 251,845 shares during the last quarter. 90.49% of the stock is owned by institutional investors.

Insider Transactions at Quanta Services

In other news, Director Bernard Fried sold 4,000 shares of the stock in a transaction that occurred on Monday, November 3rd. The stock was sold at an average price of $452.19, for a total transaction of $1,808,760.00. Following the completion of the transaction, the director directly owned 12,493 shares in the company, valued at approximately $5,649,209.67. This represents a 24.25% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Worthing Jackman sold 6,349 shares of the stock in a transaction on Wednesday, November 5th. The shares were sold at an average price of $450.45, for a total transaction of $2,859,907.05. Following the transaction, the director owned 2,730 shares of the company’s stock, valued at $1,229,728.50. This trade represents a 69.93% decrease in their position. The SEC filing for this sale provides additional information. Over the last 90 days, insiders have sold 32,002 shares of company stock worth $14,295,857. 1.10% of the stock is owned by corporate insiders.

Quanta Services Stock Up 0.5%

NYSE PWR opened at $481.55 on Thursday. The company has a market capitalization of $71.81 billion, a P/E ratio of 71.34, a price-to-earnings-growth ratio of 2.32 and a beta of 1.16. Quanta Services, Inc. has a 52 week low of $227.08 and a 52 week high of $487.00. The stock’s 50-day moving average price is $446.21 and its 200-day moving average price is $421.27. The company has a quick ratio of 1.30, a current ratio of 1.34 and a debt-to-equity ratio of 0.66.

Quanta Services (NYSE:PWR) last released its quarterly earnings data on Thursday, October 30th. The construction company reported $3.33 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.24 by $0.09. The firm had revenue of $7.63 billion for the quarter, compared to analysts’ expectations of $7.41 billion. Quanta Services had a net margin of 3.74% and a return on equity of 18.74%. The company’s revenue for the quarter was up 17.5% compared to the same quarter last year. During the same quarter last year, the business posted $2.72 earnings per share. On average, equities research analysts predict that Quanta Services, Inc. will post 9.34 earnings per share for the current year.

Analysts Set New Price Targets

A number of brokerages recently commented on PWR. Robert W. Baird set a $490.00 target price on shares of Quanta Services in a research report on Friday, October 31st. Citigroup raised their price target on Quanta Services from $526.00 to $540.00 and gave the stock a “buy” rating in a research report on Monday. Cantor Fitzgerald began coverage on shares of Quanta Services in a report on Friday, January 23rd. They issued an “overweight” rating and a $520.00 target price on the stock. JPMorgan Chase & Co. upgraded Quanta Services from a “neutral” rating to an “overweight” rating and boosted their price target for the company from $457.00 to $515.00 in a report on Monday, December 8th. Finally, Roth Mkm set a $500.00 price objective on shares of Quanta Services and gave the stock a “buy” rating in a report on Friday, October 31st. Thirteen analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $462.00.

Quanta Services Profile

Quanta Services, Inc is a leading specialty contractor that provides comprehensive infrastructure solutions for the electric power, pipeline and energy, and communications markets. Headquartered in Houston, Texas, the company delivers engineering, procurement, construction, installation, maintenance and repair services that support the development, modernization and ongoing operation of critical energy and communications networks.

In the electric power sector, Quanta works on transmission and distribution systems, substation construction and grid modernization projects that include integration of renewable generation and energy storage.