Infrastructure stocks have gotten a lot of attention lately, but you may not have heard much about Quanta Services (NYSE: PWR) . The stock is up 10.4% today as of 1 p.m. EDT, as the company is about to make a big entrance into renewable energy.
Quanta Services provides contracting services to energy, utility, and communications industries and counts some of the largest companies among its customers. During its second-quarter earnings conference call, management revealed it is "evaluating potential acquisitions."
This morning, Quanta Services announced it will acquire privately held Blattner Holding Company, a renewable energy infrastructure company headquartered in Avon, Minnesota.
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Why This Under-the-Radar Infrastructure Stock Is Jumping 10% Today