Quanta Services, Inc. $PWR Stock Holdings Cut by Cercano Management LLC

Cercano Management LLC lessened its position in Quanta Services, Inc. (NYSE:PWR) by 69.6% during the third quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 33,062 shares of the construction company’s stock after selling 75,588 shares during the period. Cercano Management LLC’s holdings in Quanta Services were worth $13,702,000 at the end of the most recent reporting period.

Several other large investors have also bought and sold shares of PWR. Vanguard Group Inc. raised its position in Quanta Services by 2.2% in the third quarter. Vanguard Group Inc. now owns 18,143,619 shares of the construction company’s stock worth $7,519,079,000 after acquiring an additional 386,937 shares in the last quarter. JPMorgan Chase & Co. grew its stake in shares of Quanta Services by 0.7% in the 2nd quarter. JPMorgan Chase & Co. now owns 6,821,962 shares of the construction company’s stock worth $2,579,259,000 after purchasing an additional 49,334 shares during the last quarter. State Street Corp raised its holdings in shares of Quanta Services by 0.4% in the 2nd quarter. State Street Corp now owns 6,007,287 shares of the construction company’s stock worth $2,271,235,000 after purchasing an additional 24,669 shares in the last quarter. Geode Capital Management LLC lifted its stake in Quanta Services by 4.1% during the second quarter. Geode Capital Management LLC now owns 3,873,293 shares of the construction company’s stock valued at $1,458,362,000 after purchasing an additional 152,823 shares during the last quarter. Finally, DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main boosted its holdings in Quanta Services by 57.2% during the second quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 2,425,436 shares of the construction company’s stock worth $917,009,000 after buying an additional 882,209 shares in the last quarter. Institutional investors own 90.49% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on the company. Argus set a $540.00 price target on Quanta Services in a report on Friday, October 31st. Stifel Nicolaus lifted their target price on Quanta Services from $495.00 to $517.00 and gave the stock a “buy” rating in a report on Monday, January 26th. Cantor Fitzgerald assumed coverage on Quanta Services in a research report on Friday, January 23rd. They set an “overweight” rating and a $520.00 target price on the stock. JPMorgan Chase & Co. upgraded Quanta Services from a “neutral” rating to an “overweight” rating and increased their price target for the company from $457.00 to $515.00 in a research report on Monday, December 8th. Finally, Evercore boosted their price objective on Quanta Services from $410.00 to $480.00 and gave the stock an “outperform” rating in a report on Friday, October 31st. Thirteen research analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company. Based on data from MarketBeat, Quanta Services currently has a consensus rating of “Moderate Buy” and an average price target of $464.15.

Quanta Services Stock Up 0.2%

NYSE:PWR opened at $525.16 on Wednesday. The business’s fifty day moving average price is $459.38 and its 200 day moving average price is $431.14. The firm has a market capitalization of $78.31 billion, a price-to-earnings ratio of 77.80, a PEG ratio of 2.54 and a beta of 1.15. The company has a current ratio of 1.34, a quick ratio of 1.30 and a debt-to-equity ratio of 0.66. Quanta Services, Inc. has a 1-year low of $227.08 and a 1-year high of $543.28.

Quanta Services Company Profile

Quanta Services, Inc is a leading specialty contractor that provides comprehensive infrastructure solutions for the electric power, pipeline and energy, and communications markets. Headquartered in Houston, Texas, the company delivers engineering, procurement, construction, installation, maintenance and repair services that support the development, modernization and ongoing operation of critical energy and communications networks.

In the electric power sector, Quanta works on transmission and distribution systems, substation construction and grid modernization projects that include integration of renewable generation and energy storage.