Clarius Group LLC Has $248,000 Stake in Quanta Services, Inc. (NYSE:PWR)

Clarius Group LLC reduced its holdings in shares of Quanta Services, Inc. (NYSE:PWR) by 12.0% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 1,147 shares of the construction company’s stock after selling 156 shares during the period. Clarius Group LLC’s holdings in Quanta Services were worth $248,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in PWR. Norges Bank bought a new stake in Quanta Services in the fourth quarter valued at $180,853,000. Nordea Investment Management AB raised its holdings in Quanta Services by 8,297.7% during the fourth quarter. Nordea Investment Management AB now owns 912,413 shares of the construction company’s stock worth $196,205,000 after buying an additional 901,548 shares during the last quarter. Royal Bank of Canada lifted its stake in shares of Quanta Services by 52.2% in the first quarter. Royal Bank of Canada now owns 1,492,323 shares of the construction company’s stock valued at $196,405,000 after buying an additional 511,508 shares in the last quarter. Deutsche Bank AG increased its position in shares of Quanta Services by 113.7% during the first quarter. Deutsche Bank AG now owns 643,054 shares of the construction company’s stock worth $107,159,000 after acquiring an additional 342,100 shares in the last quarter. Finally, CI Private Wealth LLC acquired a new stake in shares of Quanta Services in the 4th quarter worth about $42,168,000. 90.49% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on the stock. The Goldman Sachs Group increased their price objective on shares of Quanta Services from $227.00 to $259.00 and gave the company a “buy” rating in a research note on Monday, February 26th. Evercore ISI initiated coverage on Quanta Services in a research report on Tuesday, February 13th. They set an “outperform” rating and a $237.00 price target for the company. Stifel Nicolaus boosted their price target on shares of Quanta Services from $237.00 to $252.00 and gave the stock a “buy” rating in a report on Friday, February 23rd. Citigroup lifted their price objective on shares of Quanta Services from $234.00 to $237.00 and gave the stock a “buy” rating in a research report on Friday, January 26th. Finally, TD Cowen increased their target price on shares of Quanta Services from $205.00 to $270.00 and gave the company an “outperform” rating in a research report on Tuesday, February 27th. Three equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to MarketBeat.com, Quanta Services has a consensus rating of “Moderate Buy” and an average price target of $239.54.

Quanta Services Price Performance

Quanta Services stock opened at $248.89 on Tuesday. The business has a 50-day simple moving average of $239.68 and a 200 day simple moving average of $207.35. Quanta Services, Inc. has a 52 week low of $153.74 and a 52 week high of $265.82. The stock has a market cap of $36.28 billion, a price-to-earnings ratio of 49.68 and a beta of 1.11. The company has a quick ratio of 1.44, a current ratio of 1.47 and a debt-to-equity ratio of 0.58.

Quanta Services (NYSE:PWR) last issued its quarterly earnings results on Thursday, February 22nd. The construction company reported $2.04 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.83 by $0.21. Quanta Services had a return on equity of 16.46% and a net margin of 3.57%. The firm had revenue of $5.78 billion during the quarter, compared to analyst estimates of $5.19 billion. During the same quarter in the previous year, the company posted $1.54 earnings per share. The company’s revenue was up 31.0% compared to the same quarter last year. On average, research analysts forecast that Quanta Services, Inc. will post 7.63 earnings per share for the current fiscal year.

Quanta Services Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 17th. Stockholders of record on Tuesday, April 9th will be issued a $0.09 dividend. The ex-dividend date is Monday, April 8th. This represents a $0.36 annualized dividend and a dividend yield of 0.14%. Quanta Services’s dividend payout ratio is currently 7.19%.

Insider Activity

In related news, EVP Donald Wayne sold 1,101 shares of the firm’s stock in a transaction that occurred on Wednesday, March 27th. The stock was sold at an average price of $261.94, for a total transaction of $288,395.94. Following the transaction, the executive vice president now directly owns 40,065 shares in the company, valued at approximately $10,494,626.10. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. In other news, EVP Derrick A. Jensen sold 18,500 shares of the firm’s stock in a transaction dated Tuesday, February 27th. The shares were sold at an average price of $236.90, for a total value of $4,382,650.00. Following the completion of the sale, the executive vice president now directly owns 263,725 shares of the company’s stock, valued at approximately $62,476,452.50. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, EVP Donald Wayne sold 1,101 shares of the firm’s stock in a transaction dated Wednesday, March 27th. The stock was sold at an average price of $261.94, for a total transaction of $288,395.94. Following the completion of the sale, the executive vice president now owns 40,065 shares of the company’s stock, valued at $10,494,626.10. The disclosure for this sale can be found here. In the last quarter, insiders sold 47,125 shares of company stock valued at $11,270,215. Insiders own 1.30% of the company’s stock.

Quanta Services 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.