Cercano Management LLC Has $39.90 Million Stake in Quanta Services, Inc. (NYSE:PWR)

Cercano Management LLC increased its position in Quanta Services, Inc. (NYSE:PWR - Free Report) by 97.9% in the fourth quarter, according to its most recent 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 period. Quanta Services comprises about 1.3% of Cercano Management LLC's investment portfolio, making the stock its 18th biggest holding. Cercano Management LLC owned 0.13% of Quanta Services worth $39,904,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Grove Bank & Trust increased its holdings in shares of Quanta Services by 75.6% during the 3rd quarter. Grove Bank & Trust now owns 158 shares of the construction company's stock worth $30,000 after purchasing an additional 68 shares during the period. Hazlett Burt & Watson Inc. increased its stake in Quanta Services by 47.3% in 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 period. NBC Securities Inc. bought a new stake in Quanta Services in the third quarter valued at about $36,000. Valley National Advisers Inc. bought a new stake in Quanta Services in the fourth quarter valued at about $41,000. Finally, Planned Solutions Inc. bought a new stake in Quanta Services in the fourth quarter valued at about $43,000. Institutional investors and hedge funds own 90.49% of the company's stock.

Quanta Services Stock Up 2.5 %

Shares of PWR stock traded up $6.47 during trading hours on Friday, hitting $261.66. 1,180,022 shares of the company were exchanged, compared to its average volume of 783,667. The business has a 50 day moving average of $246.91 and a two-hundred day moving average of $211.87. The company has a current ratio of 1.47, a quick ratio of 1.44 and a debt-to-equity ratio of 0.58. Quanta Services, Inc. has a 52 week low of $153.74 and a 52 week high of $265.82. The company has a market capitalization of $38.30 billion, a PE ratio of 52.23 and a beta of 1.11.

Quanta Services (NYSE:PWR - Get Free Report) last issued its quarterly earnings data on Thursday, February 22nd. The construction company reported $2.04 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.83 by $0.21. Quanta Services had a net margin of 3.57% and a return on equity of 16.46%. The company had revenue of $5.78 billion during the quarter, compared to the consensus estimate of $5.19 billion. During the same quarter in the prior year, the firm earned $1.54 earnings per share. The firm's revenue was up 31.0% compared to the same quarter last year. Analysts anticipate that Quanta Services, Inc. will post 7.63 earnings per share for the current fiscal year.

Quanta Services Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, April 17th. Investors 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 was Monday, April 8th. Quanta Services's payout ratio is 7.19%.

Analysts Set New Price Targets

A number of equities analysts have commented on PWR shares. TD Cowen boosted their price target on shares of Quanta Services from $205.00 to $270.00 and gave the company an "outperform" rating in a research report on Tuesday, February 27th. The Goldman Sachs Group boosted their price target on shares of Quanta Services from $227.00 to $259.00 and gave the company a "buy" rating in a research report on Monday, February 26th. Evercore ISI started coverage on shares of Quanta Services in a research report on Tuesday, February 13th. They issued an "outperform" rating and a $237.00 price target on the stock. KeyCorp started coverage on shares of Quanta Services in a research report on Wednesday, January 10th. They set a "sector weight" rating on the stock. Finally, Citigroup upped their target price on shares of Quanta Services from $275.00 to $285.00 and gave the stock a "buy" rating in a research report on Monday, April 22nd. Three research analysts have rated the stock with a hold rating and nine have given a buy rating to the company's stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $247.67.

Insider Buying and Selling

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 value of $4,382,650.00. Following the completion of the sale, the executive vice president now owns 263,725 shares in the company, valued at $62,476,452.50. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. 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 value of $4,382,650.00. Following the completion of the sale, the executive vice president now owns 263,725 shares in the company, valued at $62,476,452.50. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. 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 sale, the director now owns 7,486 shares of the company's stock, valued at approximately $1,776,502.66. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 47,125 shares of company stock worth $11,270,215. 1.10% of the stock is owned by insiders.

Quanta Services Company 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.