Clarus Wealth Advisors Buys New Holdings in Quanta Services, Inc. (NYSE:PWR)

Clarus Wealth Advisors purchased a new position in shares of Quanta Services, Inc. (NYSE:PWR) during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 3,013 shares of the construction company’s stock, valued at approximately $927,000.

Several other institutional investors and hedge funds have also recently bought and sold shares of the business. EntryPoint Capital LLC acquired a new stake in shares of Quanta Services during the 1st quarter valued at about $25,000. Private Ocean LLC acquired a new stake in Quanta Services during the first quarter valued at approximately $26,000. Salomon & Ludwin LLC bought a new stake in shares of Quanta Services in the 1st quarter valued at approximately $26,000. Cambridge Trust Co. acquired a new position in shares of Quanta Services in the 1st quarter worth approximately $26,000. Finally, Valley Wealth Managers Inc. bought a new position in shares of Quanta Services during the 2nd quarter worth approximately $33,000. Institutional investors own 90.49% of the company’s stock.

Quanta Services Price Performance

Shares of NYSE PWR opened at $307.61 on Thursday. The company has a fifty day moving average price of $273.36 and a 200 day moving average price of $266.60. The firm has a market cap of $45.03 billion, a PE ratio of 59.61 and a beta of 1.01. The company has a current ratio of 1.30, a quick ratio of 1.25 and a debt-to-equity ratio of 0.45. Quanta Services, Inc. has a 1-year low of $153.74 and a 1-year high of $312.52.

Quanta Services (NYSE:PWR) last announced its earnings results on Thursday, August 1st. The construction company reported $1.90 EPS for the quarter, topping the consensus estimate of $1.75 by $0.15. The business had revenue of $5.59 billion during the quarter, compared to analysts’ expectations of $5.51 billion. Quanta Services had a net margin of 3.59% and a return on equity of 16.29%. The firm’s revenue was up 10.8% on a year-over-year basis. During the same quarter in the prior year, the company posted $1.47 earnings per share. Research analysts predict that Quanta Services, Inc. will post 7.82 earnings per share for the current fiscal year.

Quanta Services Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, October 11th. Investors of record on Tuesday, October 1st will be issued a dividend of $0.09 per share. The ex-dividend date is Tuesday, October 1st. This represents a $0.36 dividend on an annualized basis and a yield of 0.12%. Quanta Services’s payout ratio is 6.98%.

Insider Transactions at Quanta Services

In related news, insider Gerald A. Ducey, Jr. sold 15,000 shares of the stock in a transaction on Friday, August 9th. The stock was sold at an average price of $257.93, for a total value of $3,868,950.00. Following the sale, the insider now owns 21,286 shares in the company, valued at approximately $5,490,297.98. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Quanta Services news, insider Gerald A. Ducey, Jr. sold 15,000 shares of the stock in a transaction dated Friday, August 9th. The shares were sold at an average price of $257.93, for a total value of $3,868,950.00. Following the transaction, the insider now directly owns 21,286 shares of the company’s stock, valued at $5,490,297.98. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Karl W. Studer sold 23,357 shares of Quanta Services stock in a transaction that occurred on Wednesday, August 21st. The stock was sold at an average price of $270.51, for a total value of $6,318,302.07. Following the sale, the insider now directly owns 10,631 shares of the company’s stock, valued at approximately $2,875,791.81. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 202,357 shares of company stock worth $53,115,572 in the last ninety days. Insiders own 1.10% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on PWR shares. Citigroup increased 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. Jefferies Financial Group started coverage on shares of Quanta Services in a research report on Wednesday, September 4th. They set a “hold” rating and a $256.00 price target on the stock. B. Riley increased their price objective on Quanta Services from $286.00 to $303.00 and gave the company a “buy” rating in a research report on Friday, August 2nd. Wolfe Research started coverage on shares of Quanta Services in a research report on Thursday, September 19th. They set an “outperform” rating and a $313.00 price target for the company. Finally, JPMorgan Chase & Co. initiated coverage on Quanta Services in a research note on Monday. They set a “neutral” rating and a $297.00 price objective for the company. Four research 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.com, Quanta Services presently has an average rating of “Moderate Buy” and an average target price of $293.50.

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.