Oak Ridge Investments LLC Buys 1,025 Shares of Quanta Services, Inc. (NYSE:PWR)

Oak Ridge Investments LLC lifted its stake in shares of Quanta Services, Inc. (NYSE:PWR - Free Report) by 5.2% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 20,675 shares of the construction company's stock after buying an additional 1,025 shares during the quarter. Oak Ridge Investments LLC's holdings in Quanta Services were worth $6,534,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also bought and sold shares of PWR. Oppenheimer Asset Management Inc. boosted its holdings in Quanta Services by 26.4% in the second quarter. Oppenheimer Asset Management Inc. now owns 1,255 shares of the construction company's stock worth $319,000 after acquiring an additional 262 shares in the last quarter. Axxcess Wealth Management LLC grew its stake in shares of Quanta Services by 98.3% in the second quarter. Axxcess Wealth Management LLC now owns 1,892 shares of the construction company's stock worth $481,000 after acquiring an additional 938 shares during the period. Blair William & Co. IL raised its holdings in shares of Quanta Services by 9.1% during the second quarter. Blair William & Co. IL now owns 25,202 shares of the construction company's stock valued at $6,403,000 after purchasing an additional 2,111 shares during the last quarter. First Eagle Investment Management LLC boosted its holdings in Quanta Services by 56.4% in the second quarter. First Eagle Investment Management LLC now owns 3,493 shares of the construction company's stock worth $888,000 after purchasing an additional 1,260 shares during the last quarter. Finally, XTX Topco Ltd grew its position in Quanta Services by 31.6% in the 2nd quarter. XTX Topco Ltd now owns 1,872 shares of the construction company's stock worth $476,000 after purchasing an additional 449 shares during the period. 90.49% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on the company. Citigroup raised their price target on Quanta Services from $348.00 to $394.00 and gave the stock a "buy" rating in a research note on Monday, December 9th. JPMorgan Chase & Co. began coverage on shares of Quanta Services in a report on Monday, October 7th. They issued a "neutral" rating and a $297.00 price objective on the stock. UBS Group upped their target price on shares of Quanta Services from $313.00 to $367.00 and gave the company a "buy" rating in a report on Wednesday, October 23rd. Daiwa America upgraded shares of Quanta Services to a "strong-buy" rating in a research note on Friday, December 6th. Finally, Daiwa Capital Markets started coverage on Quanta Services in a research note on Friday, December 6th. They issued an "outperform" rating and a $355.00 price objective for the company. Four analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $324.19.

Quanta Services Price Performance

Shares of Quanta Services stock traded up $0.91 on Friday, hitting $337.10. 1,358,031 shares of the company traded hands, compared to its average volume of 847,447. The company has a debt-to-equity ratio of 0.58, a quick ratio of 1.19 and a current ratio of 1.23. The business has a 50-day simple moving average of $329.35 and a 200 day simple moving average of $296.78. Quanta Services, Inc. has a 52 week low of $187.27 and a 52 week high of $350.19. The stock has a market capitalization of $49.76 billion, a P/E ratio of 62.20 and a beta of 1.06.

Quanta Services (NYSE:PWR - Get Free Report) last announced its quarterly earnings results on Thursday, October 31st. The construction company reported $2.72 EPS for the quarter, topping the consensus estimate of $2.46 by $0.26. The business had revenue of $6.49 billion for the quarter, compared to analysts' expectations of $6.56 billion. Quanta Services had a net margin of 3.54% and a return on equity of 16.71%. The business's quarterly revenue was up 15.5% compared to the same quarter last year. During the same quarter in the previous year, the company earned $2.08 EPS. Research analysts expect that Quanta Services, Inc. will post 7.9 earnings per share for the current fiscal year.

Quanta Services Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, January 13th. Shareholders of record on Thursday, January 2nd were issued a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a yield of 0.12%. The ex-dividend date of this dividend was Thursday, January 2nd. This is a boost from Quanta Services's previous quarterly dividend of $0.09. Quanta Services's dividend payout ratio (DPR) is currently 7.38%.

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.