Quanta Services, Inc. $PWR Shares Sold by Cercano Management LLC

Cercano Management LLC lowered its position in shares of Quanta Services, Inc. (NYSE:PWR) by 69.6% during the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 33,062 shares of the construction company’s stock after selling 75,588 shares during the quarter. Cercano Management LLC’s holdings in Quanta Services were worth $13,702,000 at the end of the most recent quarter.

Several other hedge funds also recently made changes to their positions in the company. Darwin Wealth Management LLC acquired a new position in Quanta Services in the second quarter worth $26,000. Activest Wealth Management lifted its position in shares of Quanta Services by 94.1% in the 3rd quarter. Activest Wealth Management now owns 66 shares of the construction company’s stock worth $27,000 after buying an additional 32 shares during the last quarter. Solstein Capital LLC boosted its holdings in shares of Quanta Services by 185.7% in the 2nd quarter. Solstein Capital LLC now owns 80 shares of the construction company’s stock valued at $30,000 after buying an additional 52 shares during the period. Cornerstone Planning Group LLC grew its position in shares of Quanta Services by 213.0% during the 3rd quarter. Cornerstone Planning Group LLC now owns 72 shares of the construction company’s stock valued at $30,000 after buying an additional 49 shares during the last quarter. Finally, Legacy Investment Solutions LLC acquired a new stake in Quanta Services during the second quarter worth about $37,000. Institutional investors and hedge funds own 90.49% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on PWR shares. Jefferies Financial Group lowered their target price on Quanta Services from $517.00 to $506.00 and set a “buy” rating for the company in a report on Tuesday, January 13th. The Goldman Sachs Group set a $495.00 price objective on Quanta Services in a research note on Monday, November 24th. Argus set a $540.00 target price on Quanta Services in a research report on Friday, October 31st. Sanford C. Bernstein boosted their price target on shares of Quanta Services from $428.00 to $471.00 and gave the company a “market perform” rating in a report on Monday, February 9th. Finally, JPMorgan Chase & Co. raised shares of Quanta Services from a “neutral” rating to an “overweight” rating and increased their price objective for the stock from $457.00 to $515.00 in a report on Monday, December 8th. Thirteen investment analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $464.15.

Quanta Services Price Performance

Shares of NYSE PWR opened at $525.16 on Wednesday. The stock has a market cap of $78.31 billion, a P/E ratio of 77.80, a P/E/G ratio of 2.54 and a beta of 1.15. The firm’s 50-day simple moving average is $459.38 and its 200 day simple moving average is $431.14. Quanta Services, Inc. has a fifty-two week low of $227.08 and a fifty-two week high of $543.28. The company has a quick ratio of 1.30, a current ratio of 1.34 and a debt-to-equity ratio of 0.66.

About Quanta Services

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.