Oppenheimer & Co. Inc. Sells 3,355 Shares of Quanta Services, Inc. (NYSE:PWR)

Oppenheimer & Co. Inc. reduced its holdings in Quanta Services, Inc. (NYSE:PWR - Free Report) by 2.4% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 133,739 shares of the construction company's stock after selling 3,355 shares during the period. Quanta Services comprises about 0.6% of Oppenheimer & Co. Inc.'s holdings, making the stock its 18th largest holding. Oppenheimer & Co. Inc. owned approximately 0.09% of Quanta Services worth $39,874,000 at the end of the most recent quarter.

A number of other large investors also recently made changes to their positions in PWR. Saturna Capital Corp boosted its position in Quanta Services by 2.1% during the third quarter. Saturna Capital Corp now owns 7,553 shares of the construction company's stock valued at $2,252,000 after purchasing an additional 153 shares during the last quarter. Pinnacle Financial Partners Inc grew its stake in shares of Quanta Services by 3.8% in the 3rd quarter. Pinnacle Financial Partners Inc now owns 49,637 shares of the construction company's stock valued at $14,799,000 after buying an additional 1,837 shares in the last quarter. Aptus Capital Advisors LLC increased its holdings in Quanta Services by 790.8% in the third quarter. Aptus Capital Advisors LLC now owns 35,658 shares of the construction company's stock worth $10,631,000 after buying an additional 31,655 shares during the last quarter. First Heartland Consultants Inc. bought a new position in Quanta Services during the third quarter valued at approximately $451,000. Finally, Meridian Management Co. lifted its stake in Quanta Services by 0.5% in the third quarter. Meridian Management Co. now owns 11,311 shares of the construction company's stock valued at $3,372,000 after acquiring an additional 61 shares during the last quarter. Institutional investors and hedge funds own 90.49% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on PWR. JPMorgan Chase & Co. assumed coverage on shares of Quanta Services in a report on Monday, October 7th. They set a "neutral" rating and a $297.00 price target on the stock. UBS Group upped their price target on Quanta Services from $313.00 to $367.00 and gave the stock a "buy" rating in a research note on Wednesday, October 23rd. Stifel Nicolaus boosted their target price on Quanta Services from $283.00 to $342.00 and gave the stock a "buy" rating in a report on Thursday, October 10th. TD Cowen increased their price target on Quanta Services from $280.00 to $335.00 and gave the company a "buy" rating in a report on Tuesday, October 15th. Finally, Jefferies Financial Group assumed coverage on shares of Quanta Services in a research note on Wednesday, September 4th. They issued a "hold" rating and a $256.00 price objective for the company. Four research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. According to MarketBeat, Quanta Services currently has an average rating of "Moderate Buy" and an average target price of $314.27.

Insider Buying and Selling at Quanta Services

In related news, insider Karl W. Studer sold 23,357 shares of the firm's stock in a transaction that occurred on Wednesday, August 21st. The stock was sold at an average price of $270.51, for a total transaction of $6,318,302.07. Following the completion of the transaction, the insider now owns 10,631 shares in the company, valued at $2,875,791.81. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 1.10% of the company's stock.

Quanta Services Stock Performance

PWR traded down $0.10 on Wednesday, hitting $327.17. 941,705 shares of the stock traded hands, compared to its average volume of 896,897. The business has a fifty day moving average price of $297.41 and a two-hundred day moving average price of $276.44. The company has a current ratio of 1.23, a quick ratio of 1.19 and a debt-to-equity ratio of 0.58. The firm has a market capitalization of $48.29 billion, a PE ratio of 61.27 and a beta of 1.01. Quanta Services, Inc. has a 52 week low of $179.57 and a 52 week high of $335.00.

Quanta Services (NYSE:PWR - Get Free Report) last issued its earnings results on Thursday, October 31st. The construction company reported $2.72 EPS for the quarter, beating analysts' consensus estimates of $2.46 by $0.26. Quanta Services had a return on equity of 16.71% and a net margin of 3.54%. The business had revenue of $6.49 billion during the quarter, compared to analyst estimates of $6.56 billion. During the same period in the prior year, the company posted $2.08 earnings per share. Quanta Services's revenue was up 15.5% on a year-over-year basis. On average, research analysts predict that Quanta Services, Inc. will post 7.88 EPS for the current fiscal year.

Quanta Services Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, October 11th. Shareholders of record on Tuesday, October 1st were paid a dividend of $0.09 per share. This represents a $0.36 dividend on an annualized basis and a yield of 0.11%. The ex-dividend date was Tuesday, October 1st. Quanta Services's dividend payout ratio is 6.64%.

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.