Quanta Services, Inc. (NYSE:PWR) is Mcrae Capital Management Inc.’s 3rd Largest Position

Mcrae Capital Management Inc. trimmed its stake in Quanta Services, Inc. (NYSE:PWR) by 7.0% during the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 80,256 shares of the construction company’s stock after selling 6,075 shares during the period. Quanta Services comprises 5.0% of Mcrae Capital Management Inc.’s investment portfolio, making the stock its 3rd biggest holding. Mcrae Capital Management Inc. owned approximately 0.05% of Quanta Services worth $25,365,000 as of its most recent filing with the SEC.

Several other large investors have also recently made changes to their positions in PWR. Asset Management One Co. Ltd. lifted its stake in Quanta Services by 4.7% during the fourth quarter. Asset Management One Co. Ltd. now owns 80,451 shares of the construction company’s stock worth $25,997,000 after purchasing an additional 3,595 shares in the last quarter. Avestar Capital LLC raised its holdings in shares of Quanta Services by 8.0% in the 4th quarter. Avestar Capital LLC now owns 2,934 shares of the construction company’s stock valued at $927,000 after buying an additional 218 shares during the period. One Plus One Wealth Management LLC lifted its stake in Quanta Services by 16.4% during the 4th quarter. One Plus One Wealth Management LLC now owns 1,386 shares of the construction company’s stock worth $438,000 after acquiring an additional 195 shares in the last quarter. Gladstone Institutional Advisory LLC boosted its holdings in Quanta Services by 2.2% during the 4th quarter. Gladstone Institutional Advisory LLC now owns 8,143 shares of the construction company’s stock valued at $2,574,000 after acquiring an additional 178 shares during the period. Finally, Certuity LLC acquired a new position in Quanta Services in the 4th quarter valued at about $346,000. 90.49% of the stock is currently owned by institutional investors and hedge funds.

Quanta Services Trading Down 2.5 %

PWR opened at $290.94 on Friday. The company has a quick ratio of 1.19, a current ratio of 1.23 and a debt-to-equity ratio of 0.58. Quanta Services, Inc. has a 52 week low of $206.58 and a 52 week high of $365.88. The business’s 50 day moving average is $322.55 and its two-hundred day moving average is $303.94. The firm has a market cap of $42.95 billion, a price-to-earnings ratio of 53.68, a price-to-earnings-growth ratio of 1.56 and a beta of 1.05.

Quanta Services Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, January 13th. Investors of record on Thursday, January 2nd were given a $0.10 dividend. This is an increase from Quanta Services’s previous quarterly dividend of $0.09. The ex-dividend date of this dividend was Thursday, January 2nd. This represents a $0.40 annualized dividend and a yield of 0.14%. Quanta Services’s dividend payout ratio is 7.38%.

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on PWR shares. UBS Group increased their price target on shares of Quanta Services from $313.00 to $367.00 and gave the stock a “buy” rating in a research report on Wednesday, October 23rd. Stifel Nicolaus increased their target price on shares of Quanta Services from $374.00 to $388.00 and gave the stock a “buy” rating in a report on Wednesday, January 22nd. Northland Securities reissued an “outperform” rating and issued a $328.00 price target (up previously from $280.00) on shares of Quanta Services in a research report on Friday, November 1st. Daiwa Capital Markets began coverage on Quanta Services in a research report on Friday, December 6th. They set an “outperform” rating and a $355.00 price objective on the stock. Finally, Guggenheim assumed coverage on shares of Quanta Services in a report on Wednesday, January 8th. They issued a “neutral” rating on the stock. Four equities research analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $330.50.

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.