Cercano Management LLC Boosts Stock Position in Quanta Services, Inc. (NYSE:PWR)

Cercano Management LLC lifted its position in Quanta Services, Inc. (NYSE:PWR) by 97.9% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 184,911 shares of the construction company’s stock after purchasing an additional 91,474 shares during the quarter. Quanta Services comprises approximately 1.3% of Cercano Management LLC’s portfolio, making the stock its 18th largest holding. Cercano Management LLC owned approximately 0.13% of Quanta Services worth $39,904,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in PWR. AE Wealth Management LLC increased its holdings in shares of Quanta Services by 22.0% in the third quarter. AE Wealth Management LLC now owns 1,593 shares of the construction company’s stock worth $298,000 after purchasing an additional 287 shares during the period. Oak Thistle LLC increased its holdings in shares of Quanta Services by 126.3% in the third quarter. Oak Thistle LLC now owns 3,282 shares of the construction company’s stock worth $614,000 after purchasing an additional 1,832 shares during the period. Czech National Bank increased its holdings in shares of Quanta Services by 47.7% in the third quarter. Czech National Bank now owns 25,378 shares of the construction company’s stock worth $4,747,000 after purchasing an additional 8,193 shares during the period. Asset Management One Co. Ltd. increased its holdings in shares of Quanta Services by 2.6% in the third quarter. Asset Management One Co. Ltd. now owns 88,290 shares of the construction company’s stock worth $16,516,000 after purchasing an additional 2,205 shares during the period. Finally, HWG Holdings LP increased its stake in Quanta Services by 4.2% in the third quarter. HWG Holdings LP now owns 22,833 shares of the construction company’s stock valued at $4,271,000 after acquiring an additional 919 shares during the last quarter. Institutional investors own 90.49% of the company’s stock.

Quanta Services Trading Up 2.5 %

NYSE PWR traded up $6.47 during trading on Friday, hitting $261.66. 1,180,022 shares of the company’s stock traded hands, compared to its average volume of 783,667. The stock has a fifty day moving average of $246.91 and a two-hundred day moving average of $211.87. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.47 and a quick ratio of 1.44. Quanta Services, Inc. has a 12-month low of $153.74 and a 12-month high of $265.82. The firm has a market cap of $38.30 billion, a P/E ratio of 52.23 and a beta of 1.11.

Quanta Services (NYSE:PWR) last posted its earnings results on Thursday, February 22nd. The construction company reported $2.04 earnings per share for the quarter, topping analysts’ consensus estimates of $1.83 by $0.21. The company had revenue of $5.78 billion during the quarter, compared to analyst estimates of $5.19 billion. Quanta Services had a net margin of 3.57% and a return on equity of 16.46%. Quanta Services’s revenue for the quarter was up 31.0% on a year-over-year basis. During the same period in the prior year, the business posted $1.54 earnings per share. As a group, sell-side analysts expect that Quanta Services, Inc. will post 7.63 EPS for the current year.

Quanta Services Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, April 17th. Stockholders of record on Tuesday, April 9th were issued a dividend of $0.09 per share. The ex-dividend date was Monday, April 8th. This represents a $0.36 dividend on an annualized basis and a dividend yield of 0.14%. Quanta Services’s dividend payout ratio is currently 7.19%.

Insider Transactions at Quanta Services

In other news, EVP Donald Wayne sold 1,101 shares of the stock in a transaction dated Wednesday, March 27th. The shares were sold at an average price of $261.94, for a total transaction of $288,395.94. Following the completion of the sale, the executive vice president now directly owns 40,065 shares in the company, valued at $10,494,626.10. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other Quanta Services news, EVP Derrick A. Jensen sold 18,500 shares of the firm’s stock in a transaction dated Tuesday, February 27th. The shares were sold at an average price of $236.90, for a total value of $4,382,650.00. Following the completion of the sale, the executive vice president now directly owns 263,725 shares in the company, valued at $62,476,452.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Donald Wayne sold 1,101 shares of the firm’s stock in a transaction dated Wednesday, March 27th. The stock was sold at an average price of $261.94, for a total transaction of $288,395.94. Following the completion of the sale, the executive vice president now owns 40,065 shares of the company’s stock, valued at $10,494,626.10. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 47,125 shares of company stock worth $11,270,215. Company insiders own 1.10% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms recently commented on PWR. Evercore ISI began coverage on Quanta Services in a research note on Tuesday, February 13th. They issued an “outperform” rating and a $237.00 target price on the stock. Stifel Nicolaus increased 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. TD Cowen increased their target price on Quanta Services from $205.00 to $270.00 and gave the company an “outperform” rating in a research note on Tuesday, February 27th. The Goldman Sachs Group increased their target price on Quanta Services from $227.00 to $259.00 and gave the company a “buy” rating in a research note on Monday, February 26th. Finally, DA Davidson increased their target price on Quanta Services from $190.00 to $225.00 and gave the company a “neutral” rating in a research note on Wednesday, February 28th. Three equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $247.67.

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.