Clarus Wealth Advisors Raises Holdings in Quanta Services, Inc. (NYSE:PWR)

Clarus Wealth Advisors raised its holdings in Quanta Services, Inc. (NYSE:PWR) by 8.4% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 3,266 shares of the construction company’s stock after purchasing an additional 253 shares during the quarter. Clarus Wealth Advisors’ holdings in Quanta Services were worth $1,026,000 as of its most recent SEC filing.

Several other large investors have also modified their holdings of the business. Acadian Asset Management LLC purchased a new position in shares of Quanta Services during the 2nd quarter worth approximately $1,031,000. Quest Partners LLC purchased a new position in shares of Quanta Services during the second quarter worth $35,000. Thoroughbred Financial Services LLC acquired a new stake in shares of Quanta Services in the second quarter valued at $421,000. Oppenheimer Asset Management Inc. raised its holdings in shares of Quanta Services by 26.4% in the 2nd quarter. Oppenheimer Asset Management Inc. now owns 1,255 shares of the construction company’s stock valued at $319,000 after buying an additional 262 shares during the period. Finally, Envestnet Asset Management Inc. lifted its stake in Quanta Services by 7.8% during the 2nd quarter. Envestnet Asset Management Inc. now owns 159,803 shares of the construction company’s stock worth $40,604,000 after acquiring an additional 11,577 shares in the last quarter. Institutional investors and hedge funds own 90.49% of the company’s stock.

Analyst Ratings Changes

PWR has been the subject of several research reports. Guggenheim initiated coverage on Quanta Services in a research report on Wednesday, January 8th. They issued a “neutral” rating for the company. JPMorgan Chase & Co. initiated coverage on Quanta Services in a report on Monday, October 7th. They issued a “neutral” rating and a $297.00 target price for the company. Daiwa America raised Quanta Services to a “strong-buy” rating in a research note on Friday, December 6th. Northland Securities reaffirmed an “outperform” rating and issued a $328.00 price target (up previously from $280.00) on shares of Quanta Services in a research report on Friday, November 1st. Finally, Citigroup boosted their price objective on Quanta Services from $348.00 to $394.00 and gave the stock a “buy” rating in a research report on Monday, December 9th. Four equities research analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $324.25.

Quanta Services Price Performance

Shares of NYSE:PWR opened at $319.22 on Wednesday. Quanta Services, Inc. has a 12 month low of $187.27 and a 12 month high of $350.19. The firm has a market capitalization of $47.12 billion, a P/E ratio of 58.90 and a beta of 1.06. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.23 and a quick ratio of 1.19. The company’s fifty day moving average price is $328.56 and its 200 day moving average price is $295.00.

Quanta Services (NYSE:PWR) last posted its earnings results on Thursday, October 31st. The construction company reported $2.72 EPS for the quarter, topping analysts’ consensus estimates of $2.46 by $0.26. The business had revenue of $6.49 billion for the quarter, compared to analysts’ expectations of $6.56 billion. Quanta Services had a return on equity of 16.71% and a net margin of 3.54%. The business’s revenue was up 15.5% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $2.08 earnings per share. As a group, sell-side analysts predict that Quanta Services, Inc. will post 7.9 earnings per share for the current fiscal year.

Quanta Services Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, January 13th. Stockholders of record on Thursday, January 2nd were given a dividend of $0.10 per share. The ex-dividend date of this dividend was Thursday, January 2nd. This is a positive change from Quanta Services’s previous quarterly dividend of $0.09. This represents a $0.40 dividend on an annualized basis and a dividend yield of 0.13%. Quanta Services’s dividend payout ratio (DPR) is 7.38%.

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.