Quanta Services, Inc. (NYSE:PWR) Shares Bought by Oppenheimer Asset Management Inc.

Oppenheimer Asset Management Inc. lifted its holdings in shares of Quanta Services, Inc. (NYSE:PWR) by 26.4% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,255 shares of the construction company’s stock after acquiring an additional 262 shares during the period. Oppenheimer Asset Management Inc.’s holdings in Quanta Services were worth $319,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently bought and sold shares of PWR. Vanguard Group Inc. increased its position in Quanta Services by 0.6% in the 1st quarter. Vanguard Group Inc. now owns 16,341,230 shares of the construction company’s stock valued at $4,245,452,000 after acquiring an additional 105,355 shares during the period. JPMorgan Chase & Co. increased its holdings in shares of Quanta Services by 2.4% in the first quarter. JPMorgan Chase & Co. now owns 6,760,260 shares of the construction company’s stock valued at $1,756,316,000 after purchasing an additional 156,627 shares during the period. Capital World Investors raised its stake in shares of Quanta Services by 10.7% during the first quarter. Capital World Investors now owns 6,643,733 shares of the construction company’s stock worth $1,726,042,000 after purchasing an additional 643,011 shares during the last quarter. Artisan Partners Limited Partnership lifted its holdings in shares of Quanta Services by 384.9% during the fourth quarter. Artisan Partners Limited Partnership now owns 2,438,653 shares of the construction company’s stock worth $526,261,000 after purchasing an additional 1,935,786 shares during the period. Finally, Public Employees Retirement Association of Colorado grew its position in Quanta Services by 20,298.9% in the 4th quarter. Public Employees Retirement Association of Colorado now owns 1,057,681 shares of the construction company’s stock valued at $228,248,000 after buying an additional 1,052,496 shares during the last quarter. 90.49% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

PWR has been the subject of several recent analyst reports. Northland Securities raised their target price on shares of Quanta Services from $264.00 to $280.00 and gave the stock an “outperform” rating in a research note on Friday, August 2nd. TD Cowen lifted their price objective on Quanta Services from $270.00 to $280.00 and gave the company a “buy” rating in a report on Thursday, August 8th. Robert W. Baird raised their price target on Quanta Services from $287.00 to $288.00 and gave the company an “outperform” rating in a report on Friday, July 19th. Jefferies Financial Group began coverage on Quanta Services in a report on Wednesday, September 4th. They set a “hold” rating and a $256.00 price objective on the stock. Finally, B. Riley raised their target price on Quanta Services from $286.00 to $303.00 and gave the company a “buy” rating in a report on Friday, August 2nd. Four analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $286.69.

Quanta Services Stock Performance

Quanta Services stock opened at $290.89 on Friday. The company has a debt-to-equity ratio of 0.45, a quick ratio of 1.25 and a current ratio of 1.30. Quanta Services, Inc. has a fifty-two week low of $153.74 and a fifty-two week high of $293.80. The stock has a fifty day moving average of $262.17 and a two-hundred day moving average of $261.57. The company has a market capitalization of $42.58 billion, a price-to-earnings ratio of 56.37 and a beta of 1.01.

Quanta Services (NYSE:PWR) last announced its earnings results on Thursday, August 1st. The construction company reported $1.90 earnings per share for the quarter, beating the consensus estimate of $1.75 by $0.15. The firm had revenue of $5.59 billion during the quarter, compared to the consensus estimate of $5.51 billion. Quanta Services had a net margin of 3.59% and a return on equity of 16.29%. The firm’s revenue for the quarter was up 10.8% on a year-over-year basis. During the same quarter in the previous year, the company posted $1.47 EPS. On average, analysts anticipate that Quanta Services, Inc. will post 7.82 EPS for the current fiscal year.

Quanta Services Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, October 11th. Shareholders of record on Tuesday, October 1st will be issued a $0.09 dividend. The ex-dividend date is Tuesday, October 1st. This represents a $0.36 annualized dividend and a yield of 0.12%. Quanta Services’s dividend payout ratio (DPR) is presently 6.98%.

Insiders Place Their Bets

In other news, insider Gerald A. Ducey, Jr. sold 15,000 shares of Quanta Services stock in a transaction on Friday, August 9th. The stock was sold at an average price of $257.93, for a total value of $3,868,950.00. Following the completion of the sale, the insider now owns 21,286 shares of the company’s stock, valued at $5,490,297.98. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In related news, insider Gerald A. Ducey, Jr. sold 15,000 shares of the business’s stock in a transaction that occurred on Friday, August 9th. The shares were sold at an average price of $257.93, for a total value of $3,868,950.00. Following the completion of the sale, the insider now directly owns 21,286 shares in the company, valued at $5,490,297.98. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CEO Earl C. Jr. Austin sold 130,000 shares of the company’s stock in a transaction that occurred on Wednesday, August 14th. The stock was sold at an average price of $262.21, for a total transaction of $34,087,300.00. Following the transaction, the chief executive officer now directly owns 593,402 shares of the company’s stock, valued at approximately $155,595,938.42. The disclosure for this sale can be found here. Insiders have sold a total of 202,357 shares of company stock valued at $53,115,572 in the last quarter. 1.10% of the stock is currently owned by company insiders.

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.