Oppenheimer Asset Management Inc. Purchases 106 Shares of Quanta Services, Inc. (NYSE:PWR)

Oppenheimer Asset Management Inc. boosted its position in Quanta Services, Inc. (NYSE:PWR) by 8.4% during the 3rd quarter, Holdings Channel.com reports. The fund 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 quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in PWR. Tower Wealth Partners Inc. grew its position in shares of Quanta Services by 3.1% during the 3rd quarter. Tower Wealth Partners Inc. now owns 1,122 shares of the construction company’s stock worth $335,000 after buying an additional 34 shares during the period. Terra Nova Asset Management LLC raised its position in shares of Quanta Services by 0.3% during the 3rd quarter. Terra Nova Asset Management LLC now owns 12,779 shares of the construction company’s stock valued at $3,810,000 after acquiring an additional 38 shares during the last quarter. Greenleaf Trust lifted its stake in shares of Quanta Services by 1.2% in the 3rd quarter. Greenleaf Trust now owns 3,154 shares of the construction company’s stock valued at $940,000 after purchasing an additional 38 shares during the period. EP Wealth Advisors LLC boosted its position in shares of Quanta Services by 0.6% in the 2nd quarter. EP Wealth Advisors LLC now owns 6,994 shares of the construction company’s stock worth $1,777,000 after purchasing an additional 39 shares during the last quarter. Finally, Whittier Trust Co. grew its stake in shares of Quanta Services by 0.7% during the third quarter. Whittier Trust Co. now owns 5,894 shares of the construction company’s stock worth $1,757,000 after purchasing an additional 39 shares during the period. 90.49% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

PWR has been the topic of several analyst reports. Truist Financial increased their target price on Quanta Services from $319.00 to $358.00 and gave the company a “buy” rating in a research note on Wednesday, October 9th. B. Riley boosted their price objective on shares of Quanta Services from $286.00 to $303.00 and gave the company a “buy” rating in a report on Friday, August 2nd. Robert W. Baird upped their target price on shares of Quanta Services from $320.00 to $333.00 and gave the company an “outperform” rating in a research note on Friday, November 1st. JPMorgan Chase & Co. initiated coverage on shares of Quanta Services in a report on Monday, October 7th. They issued a “neutral” rating and a $297.00 price target for the company. Finally, UBS Group raised their price objective on Quanta Services from $313.00 to $367.00 and gave the stock a “buy” rating in a research note on Wednesday, October 23rd. Four analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $314.27.

Quanta Services Trading Up 0.7 %

NYSE:PWR opened at $330.71 on Wednesday. The company has a market cap of $48.82 billion, a P/E ratio of 61.02 and a beta of 1.01. Quanta Services, Inc. has a twelve month low of $180.97 and a twelve month high of $335.00. The business has a 50 day moving average price of $304.98 and a two-hundred day moving average price of $278.87. The company has a quick ratio of 1.19, a current ratio of 1.23 and a debt-to-equity ratio of 0.58.

Quanta Services (NYSE:PWR) last released its earnings results on Thursday, October 31st. The construction company reported $2.72 earnings per share for the quarter, beating 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 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 firm earned $2.08 earnings per share. The firm’s revenue for the quarter was up 15.5% compared to the same quarter last year. As a group, analysts expect that Quanta Services, Inc. will post 7.88 EPS for the current fiscal year.

Quanta Services Dividend Announcement

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