Oppenheimer Asset Management Inc. Has $406,000 Holdings in Quanta Services, Inc. (NYSE:PWR)

Oppenheimer Asset Management Inc. raised its stake in Quanta Services, Inc. (NYSE:PWR) by 8.4% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 1,361 shares of the construction company’s stock after buying an additional 106 shares during the quarter. Oppenheimer Asset Management Inc.’s holdings in Quanta Services were worth $406,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. Versor Investments LP bought a new stake in shares of Quanta Services in the 3rd quarter valued at approximately $406,000. Wealth Enhancement Advisory Services LLC increased its position in Quanta Services by 5.7% during the second quarter. Wealth Enhancement Advisory Services LLC now owns 36,862 shares of the construction company’s stock worth $9,366,000 after buying an additional 1,981 shares during the last quarter. Cetera Investment Advisers lifted its position in shares of Quanta Services by 115.0% in the first quarter. Cetera Investment Advisers now owns 39,274 shares of the construction company’s stock worth $10,203,000 after buying an additional 21,003 shares during the last quarter. Czech National Bank increased its holdings in shares of Quanta Services by 8.9% during the 2nd quarter. Czech National Bank now owns 27,827 shares of the construction company’s stock valued at $7,071,000 after acquiring an additional 2,264 shares during the last quarter. Finally, EverSource Wealth Advisors LLC boosted its position in Quanta Services by 892.2% during the first quarter. EverSource Wealth Advisors LLC now owns 1,012 shares of the construction company’s stock worth $262,000 after purchasing an additional 910 shares during the period. 90.49% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on the stock. TD Cowen raised their target price on shares of Quanta Services from $280.00 to $335.00 and gave the company a “buy” rating in a research note on Tuesday, October 15th. Citigroup lifted their price objective on Quanta Services from $302.00 to $348.00 and gave the stock a “buy” rating in a research note on Friday, October 4th. Stifel Nicolaus increased their target price on Quanta Services from $283.00 to $342.00 and gave the company a “buy” rating in a research note on Thursday, October 10th. Jefferies Financial Group assumed coverage on Quanta Services in a report on Wednesday, September 4th. They set a “hold” rating and a $256.00 price target for the company. Finally, Robert W. Baird raised their price objective on shares of Quanta Services from $320.00 to $333.00 and gave the stock an “outperform” rating in a research note on Friday, November 1st. Four investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $314.27.

Quanta Services Stock Up 0.7 %

PWR opened at $330.71 on Wednesday. The firm has a market cap of $48.82 billion, a price-to-earnings ratio of 61.02 and a beta of 1.01. The company has a debt-to-equity ratio of 0.58, a quick ratio of 1.19 and a current ratio of 1.23. The firm’s 50-day simple moving average is $304.98 and its 200-day simple moving average is $278.87. Quanta Services, Inc. has a twelve month low of $180.97 and a twelve month high of $335.00.

Quanta Services (NYSE:PWR) last posted its quarterly earnings data on Thursday, October 31st. The construction company reported $2.72 earnings per share for the quarter, topping the consensus estimate of $2.46 by $0.26. The company had revenue of $6.49 billion during the quarter, compared to analyst estimates of $6.56 billion. Quanta Services had a net margin of 3.54% and a return on equity of 16.71%. The company’s revenue was up 15.5% on a year-over-year basis. During the same quarter last year, the business posted $2.08 earnings per share. Equities research analysts anticipate that Quanta Services, Inc. will post 7.88 EPS for the current fiscal year.

Quanta Services Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, October 11th. Investors of record on Tuesday, October 1st were issued a $0.09 dividend. The ex-dividend date of this dividend was Tuesday, October 1st. This represents a $0.36 dividend on an annualized basis and a dividend yield of 0.11%. Quanta Services’s dividend payout ratio is 6.64%.

Quanta Services 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.