Clarus Wealth Advisors Increases Stake in Quanta Services, Inc. (NYSE:PWR)

Clarus Wealth Advisors increased its stake in Quanta Services, Inc. (NYSE:PWR - Free Report) by 25.2% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 4,090 shares of the construction company's stock after purchasing an additional 824 shares during the quarter. Clarus Wealth Advisors' holdings in Quanta Services were worth $1,103,000 at the end of the most recent quarter.

Other large investors have also added to or reduced their stakes in the company. Banque Transatlantique SA bought a new stake in Quanta Services during the fourth quarter valued at approximately $25,000. Quarry LP purchased a new position in shares of Quanta Services during the 4th quarter worth $26,000. Sierra Ocean LLC purchased a new stake in shares of Quanta Services in the 4th quarter worth $27,000. Centricity Wealth Management LLC bought a new position in Quanta Services in the 4th quarter worth $34,000. Finally, Rakuten Securities Inc. grew its holdings in Quanta Services by 1,027.3% during the fourth quarter. Rakuten Securities Inc. now owns 124 shares of the construction company's stock valued at $39,000 after purchasing an additional 113 shares during the period. Institutional investors own 90.49% of the company's stock.

Analysts Set New Price Targets

PWR has been the topic of a number of analyst reports. Daiwa America raised Quanta Services from a "hold" rating to a "strong-buy" rating in a research report on Friday, April 11th. TD Cowen lifted their price target on shares of Quanta Services from $335.00 to $355.00 and gave the company a "buy" rating in a report on Wednesday, May 7th. Daiwa Capital Markets cut shares of Quanta Services from an "outperform" rating to a "neutral" rating in a research note on Monday, February 24th. Stifel Nicolaus lifted their target price on shares of Quanta Services from $306.00 to $363.00 and gave the company a "buy" rating in a research note on Monday, May 5th. Finally, Piper Sandler reiterated an "overweight" rating and issued a $370.00 price target (up previously from $360.00) on shares of Quanta Services in a research note on Tuesday, May 27th. Six investment analysts have rated the stock with a hold rating, fourteen have issued a buy rating and two have issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $347.35.

Quanta Services Price Performance

PWR traded up $0.49 during trading hours on Thursday, hitting $359.60. The company's stock had a trading volume of 877,024 shares, compared to its average volume of 1,538,336. The stock has a market cap of $53.32 billion, a price-to-earnings ratio of 59.64, a P/E/G ratio of 1.41 and a beta of 1.02. The business's 50-day moving average price is $301.84 and its 200-day moving average price is $304.01. The company has a current ratio of 1.30, a quick ratio of 1.19 and a debt-to-equity ratio of 0.56. Quanta Services, Inc. has a 12 month low of $227.08 and a 12 month high of $365.88.

Quanta Services (NYSE:PWR - Get Free Report) last issued its quarterly earnings data on Thursday, May 1st. The construction company reported $1.78 EPS for the quarter, topping analysts' consensus estimates of $1.72 by $0.06. Quanta Services had a net margin of 3.82% and a return on equity of 18.00%. The business had revenue of $6.23 billion during the quarter, compared to analysts' expectations of $5.88 billion. During the same period last year, the company posted $1.41 EPS. The business's revenue was up 23.9% on a year-over-year basis. Sell-side analysts expect that Quanta Services, Inc. will post 9.34 earnings per share for the current fiscal year.

Quanta Services Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, July 11th. Stockholders of record on Tuesday, July 1st will be paid a $0.10 dividend. This represents a $0.40 annualized dividend and a dividend yield of 0.11%. The ex-dividend date of this dividend is Tuesday, July 1st. Quanta Services's payout ratio is 6.45%.

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.