Clarus Group Inc. Takes Position in Quanta Services, Inc. (NYSE:PWR)

Clarus Group Inc. acquired a new stake in Quanta Services, Inc. (NYSE:PWR) in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm acquired 4,017 shares of the construction company’s stock, valued at approximately $1,198,000. Quanta Services makes up 0.5% of Clarus Group Inc.’s investment portfolio, making the stock its 28th largest position.

Several other hedge funds have also recently bought and sold shares of the company. Wellington Management Group LLP increased its position in Quanta Services by 581.3% during the fourth quarter. Wellington Management Group LLP now owns 117,014 shares of the construction company’s stock worth $25,252,000 after buying an additional 99,840 shares in the last quarter. CHICAGO TRUST Co NA purchased a new position in Quanta Services during the first quarter worth $211,000. AdvisorNet Financial Inc increased its position in Quanta Services by 13.5% during the first quarter. AdvisorNet Financial Inc now owns 2,269 shares of the construction company’s stock worth $589,000 after buying an additional 269 shares in the last quarter. Riverview Trust Co purchased a new position in Quanta Services during the first quarter worth $66,000. Finally, Mechanics Bank Trust Department increased its position in Quanta Services by 63.2% during the first quarter. Mechanics Bank Trust Department now owns 4,118 shares of the construction company’s stock worth $1,070,000 after buying an additional 1,594 shares in the last quarter. 90.49% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of brokerages have commented on PWR. B. Riley boosted their price objective on Quanta Services from $286.00 to $303.00 and gave the stock a “buy” rating in a research note on Friday, August 2nd. TD Cowen boosted their price objective on Quanta Services from $280.00 to $335.00 and gave the stock a “buy” rating in a research note on Tuesday, October 15th. Citigroup boosted their price objective on Quanta Services from $302.00 to $348.00 and gave the stock a “buy” rating in a research note on Friday, October 4th. Robert W. Baird boosted their price objective on Quanta Services from $287.00 to $288.00 and gave the company an “outperform” rating in a report on Friday, July 19th. Finally, JPMorgan Chase & Co. began coverage on Quanta Services in a report on Monday, October 7th. They issued a “neutral” rating and a $297.00 price objective for the company. Four investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $303.86.

Insider Buying and Selling at Quanta Services

In other Quanta Services news, CEO Earl C. Jr. Austin sold 130,000 shares of the firm’s stock in a transaction that occurred on Wednesday, August 14th. The shares were sold at an average price of $262.21, for a total value of $34,087,300.00. Following the transaction, the chief executive officer now directly owns 593,402 shares of the company’s stock, valued at approximately $155,595,938.42. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, insider Karl W. Studer sold 23,357 shares of Quanta Services stock in a transaction on Wednesday, August 21st. The shares were sold at an average price of $270.51, for a total transaction of $6,318,302.07. Following the transaction, the insider now directly owns 10,631 shares of the company’s stock, valued at $2,875,791.81. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Earl C. Jr. Austin sold 130,000 shares of Quanta Services stock in a transaction on Wednesday, August 14th. The stock was sold at an average price of $262.21, for a total transaction of $34,087,300.00. Following the transaction, the chief executive officer now directly owns 593,402 shares in the company, valued at approximately $155,595,938.42. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 202,357 shares of company stock valued at $53,115,572. 1.10% of the stock is currently owned by insiders.

Quanta Services Price Performance

NYSE:PWR traded up $2.79 during mid-day trading on Monday, hitting $317.06. The company’s stock had a trading volume of 161,802 shares, compared to its average volume of 889,591. Quanta Services, Inc. has a fifty-two week low of $153.74 and a fifty-two week high of $317.68. The company has a current ratio of 1.30, a quick ratio of 1.25 and a debt-to-equity ratio of 0.45. The company has a market capitalization of $46.41 billion, a price-to-earnings ratio of 60.91 and a beta of 1.01. The stock has a fifty day moving average of $281.72 and a 200-day moving average of $269.18.

Quanta Services (NYSE:PWR) last released its quarterly earnings results on Thursday, August 1st. The construction company reported $1.90 EPS for the quarter, beating the consensus estimate of $1.75 by $0.15. Quanta Services had a net margin of 3.59% and a return on equity of 16.29%. The business had revenue of $5.59 billion for the quarter, compared to analysts’ expectations of $5.51 billion. During the same period in the prior year, the firm earned $1.47 earnings per share. Quanta Services’s revenue was up 10.8% compared to the same quarter last year. As a group, equities analysts forecast that Quanta Services, Inc. will post 7.83 EPS for the current fiscal year.

Quanta Services Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, October 11th. Shareholders of record on Tuesday, October 1st were paid a $0.09 dividend. The ex-dividend date was Tuesday, October 1st. This represents a $0.36 dividend on an annualized basis and a yield of 0.11%. Quanta Services’s payout ratio is presently 6.98%.

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.