Clark Capital Management Group Inc. Acquires 309 Shares of Quanta Services, Inc. (NYSE:PWR)

Clark Capital Management Group Inc. increased its holdings in Quanta Services, Inc. (NYSE:PWR) by 3.1% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 10,397 shares of the construction company’s stock after buying an additional 309 shares during the period. Clark Capital Management Group Inc.’s holdings in Quanta Services were worth $3,286,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also recently added to or reduced their stakes in the company. Principal Financial Group Inc. increased its stake in Quanta Services by 5.6% in the third quarter. Principal Financial Group Inc. now owns 207,720 shares of the construction company’s stock valued at $61,932,000 after acquiring an additional 11,012 shares during the last quarter. First Hawaiian Bank lifted its position in shares of Quanta Services by 62.2% during the 4th quarter. First Hawaiian Bank now owns 4,680 shares of the construction company’s stock worth $1,479,000 after buying an additional 1,795 shares during the last quarter. Hilltop National Bank boosted its stake in Quanta Services by 4.0% in the fourth quarter. Hilltop National Bank now owns 6,472 shares of the construction company’s stock valued at $2,045,000 after buying an additional 248 shares in the last quarter. ORG Wealth Partners LLC grew its position in Quanta Services by 71.9% in the fourth quarter. ORG Wealth Partners LLC now owns 550 shares of the construction company’s stock valued at $174,000 after acquiring an additional 230 shares during the last quarter. Finally, Harbor Capital Advisors Inc. raised its stake in Quanta Services by 2.5% during the fourth quarter. Harbor Capital Advisors Inc. now owns 2,910 shares of the construction company’s stock worth $920,000 after acquiring an additional 72 shares in the last quarter. Institutional investors own 90.49% of the company’s stock.

Quanta Services Stock Performance

Shares of PWR opened at $326.00 on Friday. The company has a current ratio of 1.30, a quick ratio of 1.19 and a debt-to-equity ratio of 0.56. The firm’s fifty day simple moving average is $271.55 and its two-hundred day simple moving average is $300.68. Quanta Services, Inc. has a 12 month low of $227.08 and a 12 month high of $365.88. The stock has a market capitalization of $48.33 billion, a P/E ratio of 54.06, a price-to-earnings-growth ratio of 1.41 and a beta of 1.02.

Quanta Services (NYSE:PWR) last released its earnings results on Thursday, May 1st. The construction company reported $1.78 EPS for the quarter, topping the consensus estimate of $1.72 by $0.06. Quanta Services had a return on equity of 18.00% and a net margin of 3.82%. The business had revenue of $6.23 billion during the quarter, compared to analysts’ expectations of $5.88 billion. During the same quarter last year, the firm posted $1.41 earnings per share. The firm’s revenue was up 23.9% on a year-over-year basis. As a group, analysts predict that Quanta Services, Inc. will post 9.34 EPS for the current year.

Quanta Services Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, April 11th. Investors of record on Thursday, April 3rd were given a dividend of $0.10 per share. The ex-dividend date was Thursday, April 3rd. This represents a $0.40 dividend on an annualized basis and a dividend yield of 0.12%. Quanta Services’s payout ratio is presently 6.45%.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on the stock. Evercore ISI lifted their price target on shares of Quanta Services from $331.00 to $360.00 and gave the company an “outperform” rating in a report on Friday, May 2nd. B. Riley boosted their target price on shares of Quanta Services from $300.00 to $355.00 and gave the stock a “neutral” rating in a research note on Friday, May 2nd. Bank of America began coverage on shares of Quanta Services in a report on Friday, January 24th. They set a “buy” rating and a $407.00 price target for the company. The Goldman Sachs Group cut their price objective on Quanta Services from $418.00 to $364.00 and set a “buy” rating on the stock in a report on Thursday, April 24th. Finally, Daiwa Capital Markets cut Quanta Services from an “outperform” rating to a “neutral” rating in a report on Monday, February 24th. Six investment analysts have rated the stock with a hold rating, fifteen have issued a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $344.35.

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.