Oppenheimer & Co. Inc. Has $39.88 Million Stake in Quanta Services, Inc. (NYSE:PWR)

Oppenheimer & Co. Inc. trimmed its position in shares of Quanta Services, Inc. (NYSE:PWR) by 5.7% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 126,171 shares of the construction company’s stock after selling 7,568 shares during the quarter. Quanta Services makes up about 0.6% of Oppenheimer & Co. Inc.’s investment portfolio, making the stock its 22nd largest holding. Oppenheimer & Co. Inc. owned approximately 0.09% of Quanta Services worth $39,876,000 at the end of the most recent reporting period.

Other institutional investors have also made changes to their positions in the company. Alkeon Capital Management LLC lifted its holdings 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 worth $193,798,000 after purchasing an additional 250,000 shares during the last quarter. Union Bancaire Privee UBP SA acquired a new stake in Quanta Services in the 4th quarter worth approximately $46,364,000. Public Sector Pension Investment Board lifted its holdings in Quanta Services by 81.7% in the 3rd quarter. Public Sector Pension Investment Board now owns 279,089 shares of the construction company’s stock worth $83,210,000 after purchasing an additional 125,530 shares during the last quarter. Meitav Investment House Ltd. acquired a new stake in Quanta Services in the 3rd quarter worth approximately $27,430,000. Finally, State Street Corp increased its position in Quanta Services by 1.6% in the 3rd quarter. State Street Corp now owns 5,748,637 shares of the construction company’s stock worth $1,713,956,000 after buying an additional 89,975 shares during the period. 90.49% of the stock is currently owned by institutional investors and hedge funds.

Quanta Services Price Performance

Quanta Services stock opened at $268.86 on Thursday. The business’s 50-day simple moving average is $311.89 and its 200 day simple moving average is $305.73. The stock has a market cap of $39.84 billion, a price-to-earnings ratio of 44.59, a P/E/G ratio of 1.41 and a beta of 1.05. Quanta Services, Inc. has a 12-month low of $227.11 and a 12-month high of $365.88. The company has a quick ratio of 1.19, a current ratio of 1.30 and a debt-to-equity ratio of 0.56.

Quanta Services (NYSE:PWR) last posted its quarterly earnings results on Thursday, February 20th. The construction company reported $2.74 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.62 by $0.12. The business had revenue of $6.55 billion for the quarter, compared to analysts’ expectations of $6.61 billion. Quanta Services had a return on equity of 18.00% and a net margin of 3.82%. As a group, research analysts anticipate that Quanta Services, Inc. will post 9.34 earnings per share for the current year.

Analysts Set New Price Targets

Several research analysts have commented on PWR shares. Bank of America started coverage on Quanta Services in a research report on Friday, January 24th. They issued a “buy” rating and a $407.00 price target on the stock. BMO Capital Markets raised Quanta Services from a “market perform” rating to an “outperform” rating and dropped their price target for the stock from $338.00 to $316.00 in a research report on Tuesday. Robert W. Baird lifted their price target on Quanta Services from $320.00 to $333.00 and gave the stock an “outperform” rating in a research report on Friday, November 1st. JPMorgan Chase & Co. lifted their price target on Quanta Services from $297.00 to $323.00 and gave the stock a “neutral” rating in a research report on Tuesday, January 28th. Finally, Stifel Nicolaus lowered their price objective on Quanta Services from $388.00 to $323.00 and set a “buy” rating on the stock in a research report on Monday. Six research analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $326.95.

Quanta Services Company 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.