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

Toronto Dominion Bank boosted its position in shares of Quanta Services, Inc. (NYSE:PWR) by 101.8% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 102,773 shares of the construction company’s stock after acquiring an additional 51,836 shares during the period. Toronto Dominion Bank owned 0.07% of Quanta Services worth $32,481,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of PWR. Snowden Capital Advisors LLC raised its holdings in shares of Quanta Services by 39.6% in the 4th quarter. Snowden Capital Advisors LLC now owns 5,365 shares of the construction company’s stock valued at $1,696,000 after acquiring an additional 1,522 shares in the last quarter. Siemens Fonds Invest GmbH raised its stake in Quanta Services by 468.6% in the fourth quarter. Siemens Fonds Invest GmbH now owns 23,669 shares of the construction company’s stock valued at $7,481,000 after purchasing an additional 19,506 shares in the last quarter. Rafferty Asset Management LLC lifted its position in Quanta Services by 8.5% during the fourth quarter. Rafferty Asset Management LLC now owns 14,650 shares of the construction company’s stock valued at $4,630,000 after purchasing an additional 1,144 shares during the last quarter. Raiffeisen Bank International AG purchased a new position in Quanta Services in the 4th quarter worth approximately $27,640,000. Finally, ProShare Advisors LLC increased its holdings in shares of Quanta Services by 14.5% in the 4th quarter. ProShare Advisors LLC now owns 21,370 shares of the construction company’s stock worth $6,754,000 after buying an additional 2,703 shares during the last quarter. Institutional investors own 90.49% of the company’s stock.

Quanta Services Trading Up 1.3%

NYSE PWR opened at $344.92 on Monday. The stock has a market cap of $51.14 billion, a P/E ratio of 57.20, a price-to-earnings-growth ratio of 1.41 and a beta of 1.02. Quanta Services, Inc. has a fifty-two week low of $227.08 and a fifty-two week high of $365.88. The stock has a 50 day simple moving average of $281.22 and a two-hundred day simple moving average of $301.67. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.19 and a current ratio of 1.30.

Quanta Services (NYSE:PWR) last announced its quarterly earnings results on Thursday, May 1st. The construction company reported $1.78 EPS for the quarter, topping analysts’ consensus estimates of $1.72 by $0.06. The company had revenue of $6.23 billion during the quarter, compared to analyst estimates of $5.88 billion. Quanta Services had a return on equity of 18.00% and a net margin of 3.82%. The firm’s revenue was up 23.9% on a year-over-year basis. During the same quarter last year, the firm posted $1.41 earnings per share. On average, analysts forecast that Quanta Services, Inc. will post 9.34 earnings per share for the current year.

Quanta Services Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, April 11th. Investors of record on Thursday, April 3rd were given a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a dividend yield of 0.12%. The ex-dividend date of this dividend was Thursday, April 3rd. Quanta Services’s dividend payout ratio is currently 6.45%.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on the stock. Daiwa America upgraded shares of Quanta Services from a “hold” rating to a “strong-buy” rating in a research report on Friday, April 11th. DA Davidson increased their price objective on Quanta Services from $295.00 to $305.00 and gave the company a “neutral” rating in a research report on Friday, May 2nd. B. Riley raised their price objective on Quanta Services from $300.00 to $355.00 and gave the company a “neutral” rating in a report on Friday, May 2nd. BMO Capital Markets set a $352.00 target price on Quanta Services in a research note on Friday, May 2nd. Finally, TD Cowen lifted their price target on shares of Quanta Services from $335.00 to $355.00 and gave the stock a “buy” rating in a research note on Wednesday, May 7th. Six analysts have rated the stock with a hold rating, fifteen have issued a buy rating and two have given a strong buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $344.35.

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.