Oppenheimer & Co. Inc. Has $30.26 Million Stock Holdings in Quanta Services, Inc. (NYSE:PWR)

Oppenheimer & Co. Inc. lessened its position in shares of Quanta Services, Inc. (NYSE:PWR - Free Report) by 5.6% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 119,067 shares of the construction company's stock after selling 7,104 shares during the period. Oppenheimer & Co. Inc. owned about 0.08% of Quanta Services worth $30,264,000 as of its most recent SEC filing.

Other large investors also recently bought and sold shares of the company. Allstate Corp bought a new position in Quanta Services during the 4th quarter worth approximately $1,357,000. Brighton Jones LLC bought a new position in Quanta Services during the 4th quarter worth approximately $298,000. Farther Finance Advisors LLC lifted its holdings in Quanta Services by 60.0% during the 1st quarter. Farther Finance Advisors LLC now owns 1,568 shares of the construction company's stock worth $404,000 after buying an additional 588 shares during the last quarter. Wealth Enhancement Advisory Services LLC lifted its holdings in Quanta Services by 3.7% during the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 68,770 shares of the construction company's stock worth $17,480,000 after buying an additional 2,479 shares during the last quarter. Finally, Union Bancaire Privee UBP SA bought a new position in Quanta Services during the 4th quarter worth approximately $46,364,000. Institutional investors own 90.49% of the company's stock.

Analysts Set New Price Targets

A number of analysts have recently weighed in on PWR shares. Evercore ISI increased their price target on Quanta Services from $331.00 to $360.00 and gave the stock an "outperform" rating in a research report on Friday, May 2nd. Truist Financial dropped their price target on Quanta Services from $398.00 to $324.00 and set a "buy" rating on the stock in a research report on Tuesday, April 8th. Piper Sandler reiterated an "overweight" rating and set a $370.00 price target (up from $360.00) on shares of Quanta Services in a research report on Tuesday, May 27th. Daiwa America upgraded Quanta Services from a "hold" rating to a "strong-buy" rating in a research report on Friday, April 11th. Finally, UBS Group set a $413.00 price target on Quanta Services and gave the stock a "buy" rating in a research report on Thursday, June 12th. Six equities research analysts have rated the stock with a hold rating, fourteen have given a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $349.65.

Quanta Services Price Performance

Shares of PWR stock traded up $6.83 during mid-day trading on Tuesday, hitting $372.59. 938,598 shares of the stock traded hands, compared to its average volume of 932,096. Quanta Services, Inc. has a twelve month low of $227.08 and a twelve month high of $373.30. The firm has a market cap of $55.24 billion, a price-to-earnings ratio of 60.10, a price-to-earnings-growth ratio of 2.85 and a beta of 1.07. The company's 50-day simple moving average is $330.13 and its 200-day simple moving average is $305.84. The company has a debt-to-equity ratio of 0.58, a quick ratio of 1.26 and a current ratio of 1.31.

Quanta Services (NYSE:PWR - Get Free Report) last issued its quarterly earnings results on Thursday, May 1st. The construction company reported $1.78 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.72 by $0.06. Quanta Services had a return on equity of 18.06% and a net margin of 3.74%. The company had revenue of $6.23 billion for the quarter, compared to analysts' expectations of $5.88 billion. During the same period last year, the firm earned $1.41 EPS. The firm's revenue for the quarter was up 23.9% on a year-over-year basis. As a group, equities research analysts expect that Quanta Services, Inc. will post 9.34 earnings per share for the current year.

Quanta Services Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, July 11th. Stockholders of record on Tuesday, July 1st will be given a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a dividend yield of 0.11%. The ex-dividend date of this dividend is Tuesday, July 1st. Quanta Services's dividend payout ratio (DPR) is presently 6.45%.

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.