Clarus Group Inc. Sells 1,169 Shares of Quanta Services, Inc. (NYSE:PWR)

Clarus Group Inc. reduced its position in Quanta Services, Inc. (NYSE:PWR) by 29.1% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,848 shares of the construction company’s stock after selling 1,169 shares during the period. Clarus Group Inc.’s holdings in Quanta Services were worth $900,000 at the end of the most recent quarter.

Other hedge funds have also bought and sold shares of the company. Webster Bank N. A. grew its holdings in shares of Quanta Services by 4,050.0% during the fourth quarter. Webster Bank N. A. now owns 83 shares of the construction company’s stock valued at $26,000 after buying an additional 81 shares during the last quarter. Prestige Wealth Management Group LLC bought a new position in Quanta Services in the 3rd quarter valued at about $30,000. Legacy Investment Solutions LLC acquired a new position in Quanta Services during the 3rd quarter valued at about $31,000. Sound Income Strategies LLC increased its holdings in Quanta Services by 700.0% during the 4th quarter. Sound Income Strategies LLC now owns 104 shares of the construction company’s stock worth $33,000 after purchasing an additional 91 shares in the last quarter. Finally, Versant Capital Management Inc raised its stake in shares of Quanta Services by 62.5% in the fourth quarter. Versant Capital Management Inc now owns 117 shares of the construction company’s stock worth $37,000 after purchasing an additional 45 shares during the last quarter. Institutional investors and hedge funds own 90.49% of the company’s stock.

Quanta Services Price Performance

PWR opened at $310.83 on Tuesday. The firm has a 50-day moving average price of $324.00 and a 200-day moving average price of $303.66. Quanta Services, Inc. has a twelve month low of $205.82 and a twelve month high of $365.88. The company has a quick ratio of 1.19, a current ratio of 1.23 and a debt-to-equity ratio of 0.58. The company has a market capitalization of $45.88 billion, a price-to-earnings ratio of 57.35, a PEG ratio of 1.56 and a beta of 1.05.

Quanta Services Increases Dividend

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

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on PWR shares. Northland Securities reiterated an “outperform” rating and set a $328.00 price target (up previously from $280.00) on shares of Quanta Services in a report on Friday, November 1st. Stifel Nicolaus increased their target price on shares of Quanta Services from $374.00 to $388.00 and gave the company a “buy” rating in a report on Wednesday, January 22nd. TD Cowen boosted their price target on shares of Quanta Services from $280.00 to $335.00 and gave the stock a “buy” rating in a report on Tuesday, October 15th. Truist Financial decreased their price objective on shares of Quanta Services from $399.00 to $398.00 and set a “buy” rating for the company in a research note on Thursday, January 16th. Finally, BMO Capital Markets started coverage on Quanta Services in a research note on Monday, February 3rd. They issued an “outperform” rating and a $338.00 target price on the stock. Four investment analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $330.50.

Quanta Services Company 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.