Oppenheimer & Co. Inc. Has $39.87 Million Stock Holdings in Quanta Services, Inc. (NYSE:PWR)

Oppenheimer & Co. Inc. reduced its holdings in shares of Quanta Services, Inc. (NYSE:PWR) by 2.4% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 133,739 shares of the construction company’s stock after selling 3,355 shares during the quarter. Quanta Services makes up approximately 0.6% of Oppenheimer & Co. Inc.’s holdings, making the stock its 18th biggest position. Oppenheimer & Co. Inc. owned approximately 0.09% of Quanta Services worth $39,874,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of PWR. EntryPoint Capital LLC acquired a new stake in shares of Quanta Services in the first quarter valued at approximately $25,000. Cambridge Trust Co. bought a new stake in Quanta Services during the first quarter worth $26,000. Valley Wealth Managers Inc. bought a new stake in shares of Quanta Services during the 2nd quarter worth $33,000. Quest Partners LLC bought a new position in shares of Quanta Services in the second quarter worth about $35,000. Finally, CarsonAllaria Wealth Management Ltd. acquired a new stake in shares of Quanta Services in the 2nd quarter valued at approximately $38,000. 90.49% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Quanta Services

In related news, insider Karl W. Studer sold 23,357 shares of the company’s stock in a transaction on Wednesday, August 21st. The shares were sold at an average price of $270.51, for a total transaction of $6,318,302.07. Following the completion of the transaction, the insider now owns 10,631 shares in the company, valued at approximately $2,875,791.81. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 1.10% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

PWR has been the subject of several research analyst reports. Stifel Nicolaus upped their price target on shares of Quanta Services from $283.00 to $342.00 and gave the stock a “buy” rating in a report on Thursday, October 10th. UBS Group boosted their target price on shares of Quanta Services from $313.00 to $367.00 and gave the company a “buy” rating in a report on Wednesday, October 23rd. B. Riley boosted their target price on shares of Quanta Services from $286.00 to $303.00 and gave the company a “buy” rating in a research report on Friday, August 2nd. Truist Financial lifted their price objective on shares of Quanta Services from $319.00 to $358.00 and gave the company a “buy” rating in a report on Wednesday, October 9th. Finally, Northland Securities reiterated an “outperform” rating and issued a $328.00 target price (up previously from $280.00) on shares of Quanta Services in a report on Friday, November 1st. Four equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $314.27.

Quanta Services Stock Performance

NYSE PWR traded up $4.70 during trading hours on Wednesday, hitting $331.97. 64,569 shares of the company’s stock traded hands, compared to its average volume of 892,910. The business’s fifty day moving average price is $297.41 and its two-hundred day moving average price is $276.44. Quanta Services, Inc. has a 52 week low of $179.57 and a 52 week high of $335.00. The company has a current ratio of 1.23, a quick ratio of 1.19 and a debt-to-equity ratio of 0.58. The firm has a market capitalization of $49.00 billion, a P/E ratio of 60.40 and a beta of 1.01.

Quanta Services (NYSE:PWR) last released its earnings results on Thursday, October 31st. The construction company reported $2.72 EPS for the quarter, topping analysts’ consensus estimates of $2.46 by $0.26. Quanta Services had a net margin of 3.54% and a return on equity of 16.71%. The company had revenue of $6.49 billion for the quarter, compared to analysts’ expectations of $6.56 billion. During the same quarter last year, the business earned $2.08 EPS. The firm’s revenue was up 15.5% compared to the same quarter last year. Equities research analysts predict that Quanta Services, Inc. will post 7.88 EPS for the current year.

Quanta Services Dividend Announcement

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

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.