Clear Rock Advisors LLC Invests $1.16 Million in Quanta Services, Inc. (NYSE:PWR)

Clear Rock Advisors LLC bought a new position in Quanta Services, Inc. (NYSE:PWRFree Report) in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm bought 5,495 shares of the construction company’s stock, valued at approximately $1,155,000.

Other hedge funds also recently made changes to their positions in the company. Hazlett Burt & Watson Inc. lifted its holdings in shares of Quanta Services by 47.3% in the 4th quarter. Hazlett Burt & Watson Inc. now owns 162 shares of the construction company’s stock worth $34,000 after purchasing an additional 52 shares during the last quarter. NBC Securities Inc. bought a new stake in Quanta Services during the 3rd quarter valued at $36,000. Valley National Advisers Inc. bought a new stake in Quanta Services during the 4th quarter valued at $41,000. Vestor Capital LLC bought a new stake in Quanta Services during the 4th quarter valued at $42,000. Finally, Planned Solutions Inc. bought a new stake in Quanta Services during the 4th quarter valued at $43,000. Institutional investors and hedge funds own 90.49% of the company’s stock.

Insider Buying and Selling at Quanta Services

In other Quanta Services news, EVP Donald Wayne sold 595 shares of the business’s stock in a transaction dated Tuesday, March 12th. The stock was sold at an average price of $239.61, for a total value of $142,567.95. Following the completion of the sale, the executive vice president now owns 41,954 shares of the company’s stock, valued at $10,052,597.94. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Insiders have sold 10,538 shares of company stock worth $2,573,115 over the last 90 days. 1.10% of the stock is currently owned by corporate insiders.

Quanta Services Stock Down 1.4 %

Shares of PWR stock traded down $3.82 on Friday, reaching $275.94. 1,867,899 shares of the company’s stock traded hands, compared to its average volume of 925,235. Quanta Services, Inc. has a 12-month low of $153.74 and a 12-month high of $286.87. The company has a debt-to-equity ratio of 0.50, a quick ratio of 1.32 and a current ratio of 1.36. The company has a market capitalization of $40.39 billion, a P/E ratio of 53.48 and a beta of 1.10. The business’s 50 day moving average price is $262.11 and its two-hundred day moving average price is $228.75.

Quanta Services (NYSE:PWRGet Free Report) last issued its quarterly earnings results on Thursday, May 2nd. The construction company reported $1.23 earnings per share for the quarter, beating analysts’ consensus estimates of $1.09 by $0.14. Quanta Services had a return on equity of 16.25% and a net margin of 3.57%. The business had revenue of $5.03 billion for the quarter, compared to the consensus estimate of $4.96 billion. On average, equities analysts forecast that Quanta Services, Inc. will post 7.69 earnings per share for the current year.

Quanta Services Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, July 12th. Shareholders of record on Monday, July 1st will be paid a $0.09 dividend. The ex-dividend date is Monday, July 1st. This represents a $0.36 dividend on an annualized basis and a yield of 0.13%. Quanta Services’s dividend payout ratio (DPR) is currently 6.98%.

Analysts Set New Price Targets

Several analysts have weighed in on PWR shares. Citigroup lifted their target price on Quanta Services from $275.00 to $285.00 and gave the company a “buy” rating in a research note on Monday, April 22nd. Stifel Nicolaus lifted their target price on Quanta Services from $237.00 to $252.00 and gave the company a “buy” rating in a research note on Friday, February 23rd. Argus lifted their target price on Quanta Services from $285.00 to $310.00 and gave the company a “buy” rating in a research note on Thursday. Robert W. Baird boosted their price objective on Quanta Services from $265.00 to $287.00 and gave the stock an “outperform” rating in a research note on Friday, May 3rd. Finally, The Goldman Sachs Group boosted their price objective on Quanta Services from $259.00 to $286.00 and gave the stock a “buy” rating in a research note on Tuesday, May 28th. Three research analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. According to MarketBeat.com, Quanta Services currently has an average rating of “Moderate Buy” and a consensus target price of $268.85.

Get Our Latest Report on PWR

Quanta Services Company Profile

(Free Report)

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.

Further Reading

Institutional Ownership by Quarter for Quanta Services (NYSE:PWR)

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