Oppenheimer & Co. Inc. Has $43.32 Million Stake in Quanta Services, Inc. $PWR

Oppenheimer & Co. Inc. lowered its holdings in shares of Quanta Services, Inc. (NYSE:PWR) by 9.5% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 104,521 shares of the construction company’s stock after selling 10,915 shares during the period. Quanta Services comprises 0.5% of Oppenheimer & Co. Inc.’s portfolio, making the stock its 25th largest holding. Oppenheimer & Co. Inc. owned approximately 0.07% of Quanta Services worth $43,316,000 at the end of the most recent quarter.

Other hedge funds also recently made changes to their positions in the company. Copia Wealth Management raised its position in Quanta Services by 509.1% in the second quarter. Copia Wealth Management now owns 67 shares of the construction company’s stock worth $25,000 after purchasing an additional 56 shares in the last quarter. Darwin Wealth Management LLC acquired a new position in shares of Quanta Services in the 2nd quarter worth approximately $26,000. Activest Wealth Management lifted its position in shares of Quanta Services by 94.1% during the 3rd quarter. Activest Wealth Management now owns 66 shares of the construction company’s stock worth $27,000 after buying an additional 32 shares during the period. Solstein Capital LLC boosted its stake in Quanta Services by 185.7% in the 2nd quarter. Solstein Capital LLC now owns 80 shares of the construction company’s stock valued at $30,000 after buying an additional 52 shares in the last quarter. Finally, Cornerstone Planning Group LLC grew its position in Quanta Services by 213.0% in the third quarter. Cornerstone Planning Group LLC now owns 72 shares of the construction company’s stock valued at $30,000 after acquiring an additional 49 shares during the period. Institutional investors and hedge funds own 90.49% of the company’s stock.

Wall Street Analysts Forecast Growth

PWR has been the subject of a number of analyst reports. Cantor Fitzgerald began coverage on Quanta Services in a report on Friday, January 23rd. They set an “overweight” rating and a $520.00 price objective for the company. Roth Mkm set a $500.00 price objective on shares of Quanta Services and gave the stock a “buy” rating in a research note on Friday, October 31st. Robert W. Baird set a $490.00 target price on shares of Quanta Services in a research note on Friday, October 31st. The Goldman Sachs Group set a $495.00 target price on Quanta Services in a report on Monday, November 24th. Finally, Citigroup raised their price target on Quanta Services from $526.00 to $540.00 and gave the company a “buy” rating in a report on Monday, January 26th. Thirteen investment analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $462.00.

Quanta Services Stock Performance

PWR stock opened at $507.87 on Monday. The company has a 50 day moving average price of $450.86 and a 200 day moving average price of $425.70. Quanta Services, Inc. has a fifty-two week low of $227.08 and a fifty-two week high of $508.45. The company has a debt-to-equity ratio of 0.66, a current ratio of 1.34 and a quick ratio of 1.30. The stock has a market capitalization of $75.73 billion, a PE ratio of 75.24, a price-to-earnings-growth ratio of 2.46 and a beta of 1.15.

Quanta Services Profile

Quanta Services, Inc is a leading specialty contractor that provides comprehensive infrastructure solutions for the electric power, pipeline and energy, and communications markets. Headquartered in Houston, Texas, the company delivers engineering, procurement, construction, installation, maintenance and repair services that support the development, modernization and ongoing operation of critical energy and communications networks.

In the electric power sector, Quanta works on transmission and distribution systems, substation construction and grid modernization projects that include integration of renewable generation and energy storage.