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

Cercano Management LLC lifted its holdings in Quanta Services, Inc. (NYSE:PWR) by 97.9% in the 4th quarter, Holdings Channel.com reports. The firm owned 184,911 shares of the construction company’s stock after acquiring an additional 91,474 shares during the quarter. Quanta Services makes up about 1.3% of Cercano Management LLC’s holdings, making the stock its 18th largest holding. Cercano Management LLC’s holdings in Quanta Services were worth $39,904,000 as of its most recent SEC filing.

Several other hedge funds have also recently modified their holdings of the business. Hazlett Burt & Watson Inc. lifted its position in Quanta Services by 47.3% during the fourth quarter. Hazlett Burt & Watson Inc. now owns 162 shares of the construction company’s stock valued at $34,000 after acquiring an additional 52 shares during the last quarter. Central Bank & Trust Co. lifted its position in Quanta Services by 2.1% during the fourth quarter. Central Bank & Trust Co. now owns 3,246 shares of the construction company’s stock valued at $700,000 after acquiring an additional 66 shares during the last quarter. Sumitomo Mitsui DS Asset Management Company Ltd lifted its position in Quanta Services by 0.5% during the third quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 12,511 shares of the construction company’s stock valued at $2,340,000 after acquiring an additional 67 shares during the last quarter. Czech National Bank increased its stake in Quanta Services by 0.3% during the 4th quarter. Czech National Bank now owns 25,445 shares of the construction company’s stock valued at $5,491,000 after purchasing an additional 67 shares in the last quarter. Finally, Gray Wealth Management Inc. increased its stake in Quanta Services by 6.2% during the 3rd quarter. Gray Wealth Management Inc. now owns 1,168 shares of the construction company’s stock valued at $218,000 after purchasing an additional 68 shares in the last quarter. Hedge funds and other institutional investors own 90.49% of the company’s stock.

Quanta Services Stock Performance

NYSE PWR traded up $6.47 during mid-day trading on Friday, reaching $261.66. 1,180,022 shares of the stock were exchanged, compared to its average volume of 783,667. The business’s 50 day moving average is $246.91 and its 200-day moving average is $211.87. Quanta Services, Inc. has a 1 year low of $153.74 and a 1 year high of $265.82. The company has a market capitalization of $38.30 billion, a P/E ratio of 52.23 and a beta of 1.11. The company has a debt-to-equity ratio of 0.58, a quick ratio of 1.44 and a current ratio of 1.47.

Quanta Services (NYSE:PWR) last announced its quarterly earnings results on Thursday, February 22nd. The construction company reported $2.04 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.83 by $0.21. Quanta Services had a net margin of 3.57% and a return on equity of 16.46%. The firm had revenue of $5.78 billion for the quarter, compared to the consensus estimate of $5.19 billion. During the same period in the prior year, the firm posted $1.54 earnings per share. The firm’s quarterly revenue was up 31.0% compared to the same quarter last year. On average, equities research analysts forecast that Quanta Services, Inc. will post 7.63 EPS for the current fiscal year.

Quanta Services Announces Dividend

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

Wall Street Analysts Forecast Growth

PWR has been the topic of a number of recent analyst reports. Truist Financial initiated coverage on shares of Quanta Services in a research note on Thursday, March 14th. They set a “buy” rating and a $301.00 price target on the stock. Citigroup upped their price target on shares of Quanta Services from $275.00 to $285.00 and gave the company a “buy” rating in a research note on Monday, April 22nd. TD Cowen increased their price objective on shares of Quanta Services from $205.00 to $270.00 and gave the stock an “outperform” rating in a research note on Tuesday, February 27th. KeyCorp assumed coverage on shares of Quanta Services in a research note on Wednesday, January 10th. They issued a “sector weight” rating on the stock. Finally, Evercore ISI assumed coverage on shares of Quanta Services in a research note on Tuesday, February 13th. They issued an “outperform” rating and a $237.00 price objective on the stock. Three equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $247.67.

Insider Buying and Selling at Quanta Services

In other Quanta Services news, EVP Derrick A. Jensen sold 18,500 shares of the stock in a transaction on Tuesday, February 27th. The shares were sold at an average price of $236.90, for a total transaction of $4,382,650.00. Following the transaction, the executive vice president now directly owns 263,725 shares of the company’s stock, valued at $62,476,452.50. The transaction was disclosed in a legal filing 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 stock in a transaction on Tuesday, February 27th. The shares were sold at an average price of $236.90, for a total transaction of $4,382,650.00. Following the transaction, the executive vice president now directly owns 263,725 shares of the company’s stock, valued at $62,476,452.50. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director Worthing Jackman sold 9,572 shares of the firm’s stock in a transaction dated Wednesday, February 28th. The stock was sold at an average price of $237.31, for a total transaction of $2,271,531.32. Following the completion of the transaction, the director now directly owns 7,486 shares in the company, valued at $1,776,502.66. The disclosure for this sale can be found here. Insiders have sold a total of 47,125 shares of company stock valued at $11,270,215 over the last ninety days. Corporate insiders own 1.10% of the company’s stock.

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.