Oppenheimer & Co. Inc. Sells 7,568 Shares of Quanta Services, Inc. (NYSE:PWR)

Oppenheimer & Co. Inc. lowered its holdings in shares of Quanta Services, Inc. (NYSE:PWR) by 5.7% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 126,171 shares of the construction company’s stock after selling 7,568 shares during the quarter. Quanta Services accounts for about 0.6% of Oppenheimer & Co. Inc.’s portfolio, making the stock its 22nd biggest position. Oppenheimer & Co. Inc.’s holdings in Quanta Services were worth $39,876,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of PWR. Webster Bank N. A. raised its position in Quanta Services by 4,050.0% in the 4th quarter. Webster Bank N. A. now owns 83 shares of the construction company’s stock valued at $26,000 after buying an additional 81 shares during the last quarter. Sierra Ocean LLC acquired a new stake in Quanta Services in the 4th quarter valued at approximately $27,000. Prestige Wealth Management Group LLC acquired a new stake in Quanta Services in the 3rd quarter valued at approximately $30,000. Legacy Investment Solutions LLC acquired a new stake in Quanta Services in the 3rd quarter valued at approximately $31,000. Finally, Sound Income Strategies LLC raised its position in Quanta Services by 700.0% in the 4th quarter. Sound Income Strategies LLC now owns 104 shares of the construction company’s stock valued at $33,000 after buying an additional 91 shares during the last quarter. Institutional investors and hedge funds own 90.49% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on the company. Stifel Nicolaus decreased their price target on Quanta Services from $388.00 to $323.00 and set a “buy” rating for the company in a research note on Monday. Roth Mkm assumed coverage on Quanta Services in a research note on Friday, February 21st. They issued a “buy” rating and a $350.00 price target for the company. JPMorgan Chase & Co. raised their price target on Quanta Services from $297.00 to $323.00 and gave the company a “neutral” rating in a research note on Tuesday, January 28th. Bank of America began coverage on Quanta Services in a research note on Friday, January 24th. They issued a “buy” rating and a $407.00 price target for the company. Finally, Roth Capital upgraded Quanta Services to a “strong-buy” rating in a research note on Thursday, February 20th. Six research analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $326.95.

Quanta Services Stock Performance

PWR opened at $268.86 on Thursday. The company has a market capitalization of $39.84 billion, a PE ratio of 44.59, a price-to-earnings-growth ratio of 1.41 and a beta of 1.05. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.30 and a quick ratio of 1.19. The business has a fifty day simple moving average of $311.89 and a 200 day simple moving average of $305.73. Quanta Services, Inc. has a 1 year low of $227.11 and a 1 year high of $365.88.

Quanta Services (NYSE:PWR) last announced its quarterly earnings data on Thursday, February 20th. The construction company reported $2.74 earnings per share for the quarter, beating the consensus estimate of $2.62 by $0.12. The firm had revenue of $6.55 billion during 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%. Research analysts expect that Quanta Services, Inc. will post 9.34 EPS for the current year.

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.