Carderock Capital Management Inc. Has $9.70 Million Stock Holdings in Quanta Services, Inc. (NYSE:PWR)

Carderock Capital Management Inc. trimmed its position in shares of Quanta Services, Inc. (NYSE:PWR) by 2.2% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 30,705 shares of the construction company’s stock after selling 692 shares during the quarter. Quanta Services makes up about 2.4% of Carderock Capital Management Inc.’s investment portfolio, making the stock its 12th largest holding. Carderock Capital Management Inc.’s holdings in Quanta Services were worth $9,704,000 at the end of the most recent reporting period.

Other large investors have also made changes to their positions in the company. Electron Capital Partners LLC grew its holdings in Quanta Services by 395.1% during the second quarter. Electron Capital Partners LLC now owns 2,622,142 shares of the construction company’s stock valued at $666,260,000 after purchasing an additional 2,092,519 shares during the last quarter. Alkeon Capital Management LLC grew its stake in Quanta Services by 62.5% in the 3rd quarter. Alkeon Capital Management LLC now owns 650,000 shares of the construction company’s stock valued at $193,798,000 after buying an additional 250,000 shares during the last quarter. Public Sector Pension Investment Board raised its holdings in Quanta Services by 4,701.7% in the 2nd quarter. Public Sector Pension Investment Board now owns 153,559 shares of the construction company’s stock worth $39,018,000 after acquiring an additional 150,361 shares during the period. International Assets Investment Management LLC lifted its position in Quanta Services by 29,655.3% during the 3rd quarter. International Assets Investment Management LLC now owns 148,479 shares of the construction company’s stock worth $44,269,000 after acquiring an additional 147,980 shares during the last quarter. Finally, Meitav Investment House Ltd. bought a new stake in Quanta Services during the third quarter valued at about $27,430,000. Institutional investors own 90.49% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on PWR. Robert W. Baird boosted their price objective on Quanta Services from $320.00 to $333.00 and gave the stock an “outperform” rating in a research report on Friday, November 1st. Northland Securities reiterated an “outperform” rating and set a $328.00 price target (up from $280.00) on shares of Quanta Services in a report on Friday, November 1st. UBS Group raised their price objective on shares of Quanta Services from $313.00 to $367.00 and gave the stock a “buy” rating in a research note on Wednesday, October 23rd. TD Cowen boosted their target price on shares of Quanta Services from $280.00 to $335.00 and gave the stock a “buy” rating in a research report on Tuesday, October 15th. Finally, Daiwa Capital Markets started coverage on shares of Quanta Services in a report on Friday, December 6th. They issued an “outperform” rating and a $355.00 price target for the company. Four equities research analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $324.19.

Quanta Services Stock Up 0.3 %

Shares of PWR opened at $337.10 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. The company has a 50-day moving average price of $329.35 and a two-hundred day moving average price of $296.14. The stock has a market cap of $49.76 billion, a price-to-earnings ratio of 62.20 and a beta of 1.06. Quanta Services, Inc. has a 12 month low of $187.27 and a 12 month high of $350.19.

Quanta Services (NYSE:PWR) last posted its earnings results on Thursday, October 31st. The construction company reported $2.72 EPS for the quarter, topping the consensus estimate of $2.46 by $0.26. Quanta Services had a return on equity of 16.71% and a net margin of 3.54%. The business had revenue of $6.49 billion during the quarter, compared to the consensus estimate of $6.56 billion. During the same quarter last year, the company earned $2.08 EPS. Quanta Services’s revenue was up 15.5% on a year-over-year basis. Equities analysts predict that Quanta Services, Inc. will post 7.9 EPS for the current fiscal year.

Quanta Services Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, January 13th. Stockholders of record on Thursday, January 2nd were issued a $0.10 dividend. This is a positive change from Quanta Services’s previous quarterly dividend of $0.09. The ex-dividend date was Thursday, January 2nd. This represents a $0.40 annualized dividend and a dividend yield of 0.12%. Quanta Services’s dividend payout ratio is presently 7.38%.

About Quanta Services

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.