Quanta Services, Inc. (NYSE:PWR) Shares Bought by Oak Ridge Investments LLC

Key Points

• Oak Ridge Investments LLC increased its stake in Quanta Services by 4.2%, acquiring an additional 859 shares, bringing its total to 21,534 shares valued at approximately $5.47 million.
• Several institutional investors have entered positions in Quanta Services, with ownership by institutional investors now at 90.49% of the company's stock.
• Quanta Services reported strong quarterly earnings, posting an EPS of $2.48, surpassing estimates and showcasing an increase in revenue by 21.1% compared to the same period last year.

Oak Ridge Investments LLC increased its position in Quanta Services, Inc. (NYSE:PWR - Free Report) by 4.2% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 21,534 shares of the construction company's stock after acquiring an additional 859 shares during the quarter. Oak Ridge Investments LLC's holdings in Quanta Services were worth $5,474,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of the company. Banque Transatlantique SA purchased a new position in Quanta Services during the 4th quarter valued at $25,000. Cullen Frost Bankers Inc. bought a new position in Quanta Services during the 1st quarter valued at about $25,000. Quarry LP bought a new position in Quanta Services during the 4th quarter valued at about $26,000. Zions Bancorporation National Association UT bought a new position in shares of Quanta Services in the 1st quarter worth approximately $40,000. Finally, OLD Second National Bank of Aurora bought a new stake in Quanta Services during the 1st quarter worth approximately $42,000. 90.49% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

PWR has been the topic of several research reports. Stifel Nicolaus boosted their price target on shares of Quanta Services from $411.00 to $432.00 and gave the stock a "buy" rating in a research report on Monday, August 4th. Seaport Res Ptn upgraded shares of Quanta Services to a "hold" rating in a report on Thursday, July 10th. TD Cowen upped their price objective on shares of Quanta Services from $355.00 to $425.00 and gave the company a "buy" rating in a report on Tuesday, August 5th. The Goldman Sachs Group reiterated a "buy" rating and issued a $414.00 price target (up previously from $364.00) on shares of Quanta Services in a report on Wednesday, June 4th. Finally, Northland Securities downgraded shares of Quanta Services from an "outperform" rating to a "market perform" rating and set a $354.00 price objective for the company. in a research report on Wednesday, July 2nd. Twelve investment analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company's stock. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $392.45.

Quanta Services Trading Up 0.6%

Shares of PWR traded up $2.45 during trading hours on Friday, reaching $379.96. 1,436,415 shares of the company traded hands, compared to its average volume of 1,312,980. The company's fifty day moving average price is $382.86 and its two-hundred day moving average price is $322.64. The company has a market capitalization of $56.62 billion, a price-to-earnings ratio of 58.82, a price-to-earnings-growth ratio of 2.26 and a beta of 1.10. Quanta Services, Inc. has a 12 month low of $227.08 and a 12 month high of $424.94. The company has a quick ratio of 1.32, a current ratio of 1.37 and a debt-to-equity ratio of 0.59.

Quanta Services (NYSE:PWR - Get Free Report) last posted its quarterly earnings data on Thursday, July 31st. The construction company reported $2.48 EPS for the quarter, topping the consensus estimate of $2.44 by $0.04. Quanta Services had a net margin of 3.73% and a return on equity of 18.41%. The firm had revenue of $6.77 billion during the quarter, compared to analyst estimates of $6.55 billion. During the same quarter in the previous year, the business posted $1.90 EPS. Quanta Services's revenue was up 21.1% on a year-over-year basis. Equities research analysts predict that Quanta Services, Inc. will post 9.34 earnings per share for the current fiscal year.

Quanta Services Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, July 11th. Shareholders of record on Tuesday, July 1st were issued a dividend of $0.10 per share. The ex-dividend date of this dividend was Tuesday, July 1st. This represents a $0.40 dividend on an annualized basis and a yield of 0.1%. Quanta Services's dividend payout ratio (DPR) is presently 6.19%.

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.