Clarius Group LLC Sells 66 Shares of Quanta Services, Inc. (NYSE:PWR)

Clarius Group LLC reduced its position in shares of Quanta Services, Inc. (NYSE:PWR) by 6.7% in the second quarter, according to its most recent filing with the SEC. The fund owned 919 shares of the construction company’s stock after selling 66 shares during the quarter. Clarius Group LLC’s holdings in Quanta Services were worth $234,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of PWR. Wedmont Private Capital lifted its stake in shares of Quanta Services by 1.0% in the 1st quarter. Wedmont Private Capital now owns 4,674 shares of the construction company’s stock valued at $1,198,000 after purchasing an additional 47 shares during the last quarter. Checchi Capital Advisers LLC increased its position in Quanta Services by 4.6% during the fourth quarter. Checchi Capital Advisers LLC now owns 1,367 shares of the construction company’s stock valued at $295,000 after acquiring an additional 60 shares during the last quarter. Tower Wealth Partners Inc. lifted its holdings in shares of Quanta Services by 6.3% in the 1st quarter. Tower Wealth Partners Inc. now owns 1,040 shares of the construction company’s stock worth $270,000 after acquiring an additional 62 shares during the last quarter. SVB Wealth LLC lifted its holdings in shares of Quanta Services by 4.6% in the 1st quarter. SVB Wealth LLC now owns 1,445 shares of the construction company’s stock worth $375,000 after acquiring an additional 63 shares during the last quarter. Finally, Wellington Shields Capital Management LLC raised its position in Quanta Services by 0.4% in the 1st quarter. Wellington Shields Capital Management LLC now owns 18,599 shares of the construction company’s stock worth $4,832,000 after purchasing an additional 65 shares during the period. 90.49% of the stock is owned by hedge funds and other institutional investors.

Quanta Services Stock Down 1.2 %

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

Quanta Services (NYSE:PWR) last posted its quarterly earnings data on Thursday, August 1st. The construction company reported $1.90 EPS for the quarter, topping the consensus estimate of $1.75 by $0.15. The firm had revenue of $5.59 billion during the quarter, compared to analyst estimates of $5.51 billion. Quanta Services had a net margin of 3.59% and a return on equity of 16.29%. Quanta Services’s revenue was up 10.8% on a year-over-year basis. During the same quarter in the previous year, the business posted $1.47 EPS. On average, research analysts expect that Quanta Services, Inc. will post 7.71 earnings per share for the current year.

Quanta Services Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, July 12th. Stockholders of record on Monday, July 1st were issued a dividend of $0.09 per share. The ex-dividend date was Monday, July 1st. This represents a $0.36 annualized dividend and a dividend yield of 0.14%. Quanta Services’s dividend payout ratio (DPR) is currently 6.98%.

Analyst Ratings Changes

Several brokerages have issued reports on PWR. Evercore ISI boosted their target price on Quanta Services from $255.00 to $288.00 and gave the company an “outperform” rating in a research report on Tuesday, May 7th. The Goldman Sachs Group lifted their target price on Quanta Services from $259.00 to $286.00 and gave the stock a “buy” rating in a research report on Tuesday, May 28th. Argus upped their price target on shares of Quanta Services from $285.00 to $310.00 and gave the stock a “buy” rating in a report on Thursday, May 30th. Citigroup lifted their price objective on shares of Quanta Services from $299.00 to $302.00 and gave the company a “buy” rating in a report on Monday, July 22nd. Finally, Northland Securities raised their target price on shares of Quanta Services from $264.00 to $280.00 and gave the stock an “outperform” rating in a research report on Friday, August 2nd. Three investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $287.09.

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.