Clarius Group LLC Has $234,000 Stake in Quanta Services, Inc. (NYSE:PWR)

Clarius Group LLC reduced its position in shares of Quanta Services, Inc. (NYSE:PWR) by 6.7% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 919 shares of the construction company’s stock after selling 66 shares during the period. Clarius Group LLC’s holdings in Quanta Services were worth $234,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also added to or reduced their stakes in PWR. Private Trust Co. NA raised its position in shares of Quanta Services by 91.4% in the fourth quarter. Private Trust Co. NA now owns 664 shares of the construction company’s stock valued at $143,000 after buying an additional 317 shares in the last quarter. Allworth Financial LP raised its holdings in Quanta Services by 8.8% in the 4th quarter. Allworth Financial LP now owns 1,688 shares of the construction company’s stock valued at $364,000 after acquiring an additional 136 shares in the last quarter. Prime Capital Investment Advisors LLC bought a new stake in shares of Quanta Services during the 4th quarter valued at $297,000. Nisa Investment Advisors LLC grew its holdings in shares of Quanta Services by 9.9% during the 4th quarter. Nisa Investment Advisors LLC now owns 45,372 shares of the construction company’s stock worth $9,791,000 after purchasing an additional 4,100 shares in the last quarter. Finally, Meeder Advisory Services Inc. bought a new position in shares of Quanta Services in the fourth quarter worth $243,000. 90.49% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on the stock. Argus increased their price objective on shares of Quanta Services from $285.00 to $310.00 and gave the stock a “buy” rating in a research note on Thursday, May 30th. Truist Financial reiterated a “buy” rating and set a $319.00 price target (up previously from $305.00) on shares of Quanta Services in a research report on Monday, August 5th. Evercore ISI boosted their price objective on shares of Quanta Services from $255.00 to $288.00 and gave the company an “outperform” rating in a research report on Tuesday, May 7th. DA Davidson raised their target price on Quanta Services from $225.00 to $250.00 and gave the company a “neutral” rating in a report on Tuesday, May 7th. Finally, TD Cowen boosted their price target on Quanta Services from $270.00 to $280.00 and gave the stock a “buy” rating in a report on Thursday. Three investment analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $287.09.

Quanta Services Trading Down 1.2 %

NYSE PWR traded down $3.18 on Friday, hitting $259.62. The company’s stock had a trading volume of 802,331 shares, compared to its average volume of 1,169,706. The firm has a market cap of $38.01 billion, a PE ratio of 50.31 and a beta of 1.03. Quanta Services, Inc. has a 1-year low of $153.74 and a 1-year high of $286.87. The company’s 50-day moving average is $262.09 and its 200 day moving average is $250.31. The company has a quick ratio of 1.25, a current ratio of 1.30 and a debt-to-equity ratio of 0.45.

Quanta Services (NYSE:PWR) last issued its quarterly earnings data on Thursday, August 1st. The construction company reported $1.90 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.75 by $0.15. Quanta Services had a return on equity of 16.29% and a net margin of 3.59%. The company had revenue of $5.59 billion during the quarter, compared to the consensus estimate of $5.51 billion. During the same period last year, the company earned $1.47 earnings per share. The firm’s revenue was up 10.8% compared to the same quarter last year. As a group, analysts predict that Quanta Services, Inc. will post 7.71 earnings per share for the current fiscal year.

Quanta Services Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, July 12th. Shareholders of record on Monday, July 1st were issued a $0.09 dividend. The ex-dividend date was Monday, July 1st. This represents a $0.36 dividend on an annualized basis and a yield of 0.14%. Quanta Services’s payout ratio is currently 6.98%.

About Quanta Services

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.