Oppenheimer Asset Management Inc. Makes New $1.31 Million Investment in Quanta Services, Inc. $PWR

Oppenheimer Asset Management Inc. acquired a new stake in Quanta Services, Inc. (NYSE:PWR) in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 3,164 shares of the construction company’s stock, valued at approximately $1,311,000.

A number of other hedge funds also recently added to or reduced their stakes in PWR. Activest Wealth Management grew its stake in shares of Quanta Services by 94.1% in the third quarter. Activest Wealth Management now owns 66 shares of the construction company’s stock worth $27,000 after acquiring an additional 32 shares in the last quarter. Darwin Wealth Management LLC acquired a new position in Quanta Services during the 2nd quarter worth $26,000. Cornerstone Planning Group LLC increased its holdings in Quanta Services by 213.0% during the 3rd quarter. Cornerstone Planning Group LLC now owns 72 shares of the construction company’s stock worth $30,000 after purchasing an additional 49 shares during the period. Solstein Capital LLC raised its position 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 purchasing an additional 52 shares in the last quarter. Finally, GPS Wealth Strategies Group LLC purchased a new position in shares of Quanta Services in the 3rd quarter valued at about $38,000. 90.49% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on PWR. Roth Mkm set a $500.00 target price on shares of Quanta Services and gave the stock a “buy” rating in a research note on Friday, October 31st. JPMorgan Chase & Co. raised shares of Quanta Services from a “neutral” rating to an “overweight” rating and increased their price objective for the company from $457.00 to $515.00 in a research report on Monday, December 8th. Jefferies Financial Group decreased their price objective on shares of Quanta Services from $517.00 to $506.00 and set a “buy” rating for the company in a research report on Tuesday, January 13th. Mizuho set a $415.00 target price on Quanta Services in a report on Tuesday, October 28th. Finally, Weiss Ratings raised Quanta Services from a “hold (c+)” rating to a “buy (b-)” rating in a report on Monday, January 12th. Thirteen equities research analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the stock. Based on data from MarketBeat, Quanta Services presently has an average rating of “Moderate Buy” and a consensus target price of $464.15.

Quanta Services Stock Up 1.5%

PWR opened at $523.75 on Friday. Quanta Services, Inc. has a one year low of $227.08 and a one year high of $543.28. The company has a debt-to-equity ratio of 0.66, a quick ratio of 1.30 and a current ratio of 1.34. The stock has a market capitalization of $78.10 billion, a P/E ratio of 77.59, a price-to-earnings-growth ratio of 2.54 and a beta of 1.15. The business’s 50-day simple moving average is $456.82 and its 200-day simple moving average is $429.26.

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.