Clarus Group Inc. Lowers Holdings in Quanta Services, Inc. (NYSE:PWR)

Clarus Group Inc. lowered its position in Quanta Services, Inc. (NYSE:PWR) by 29.1% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 2,848 shares of the construction company’s stock after selling 1,169 shares during the quarter. Clarus Group Inc.’s holdings in Quanta Services were worth $900,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently made changes to their positions in PWR. Alkeon Capital Management LLC boosted its position in shares of Quanta Services by 62.5% during the 3rd quarter. Alkeon Capital Management LLC now owns 650,000 shares of the construction company’s stock valued at $193,798,000 after acquiring an additional 250,000 shares during the last quarter. Union Bancaire Privee UBP SA purchased a new stake in Quanta Services in the fourth quarter valued at approximately $46,364,000. International Assets Investment Management LLC lifted its position in Quanta Services by 29,655.3% during the third quarter. International Assets Investment Management LLC now owns 148,479 shares of the construction company’s stock valued at $44,269,000 after purchasing an additional 147,980 shares during the last quarter. Public Sector Pension Investment Board grew its stake in Quanta Services by 81.7% in the 3rd quarter. Public Sector Pension Investment Board now owns 279,089 shares of the construction company’s stock worth $83,210,000 after buying an additional 125,530 shares in the last quarter. Finally, Meitav Investment House Ltd. purchased a new stake in shares of Quanta Services during the 3rd quarter valued at $27,430,000. Hedge funds and other institutional investors own 90.49% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on PWR. BMO Capital Markets assumed coverage on shares of Quanta Services in a research report on Monday, February 3rd. They issued an “outperform” rating and a $338.00 target price for the company. Bank of America initiated coverage on Quanta Services in a research report on Friday, January 24th. They set a “buy” rating and a $407.00 price objective on the stock. UBS Group boosted their target price on Quanta Services from $313.00 to $367.00 and gave the stock a “buy” rating in a research report on Wednesday, October 23rd. TD Cowen increased their price target on shares of Quanta Services from $280.00 to $335.00 and gave the company a “buy” rating in a research report on Tuesday, October 15th. Finally, Truist Financial lowered their price objective on shares of Quanta Services from $399.00 to $398.00 and set a “buy” rating for the company in a report on Thursday, January 16th. Four analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $330.50.

Quanta Services Price Performance

Shares of PWR stock opened at $310.83 on Tuesday. The company has a debt-to-equity ratio of 0.58, a quick ratio of 1.19 and a current ratio of 1.23. The firm has a market cap of $45.88 billion, a P/E ratio of 57.35, a P/E/G ratio of 1.56 and a beta of 1.05. The business’s 50 day moving average price is $324.00 and its 200-day moving average price is $303.66. Quanta Services, Inc. has a fifty-two week low of $205.82 and a fifty-two week high of $365.88.

Quanta Services Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, January 13th. Shareholders of record on Thursday, January 2nd were given a dividend of $0.10 per share. This is an increase from Quanta Services’s previous quarterly dividend of $0.09. This represents a $0.40 dividend on an annualized basis and a yield of 0.13%. The ex-dividend date was Thursday, January 2nd. Quanta Services’s payout ratio is presently 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.