LPL Financial LLC Increases Stake in Quanta Services, Inc. (NYSE:PWR)

LPL Financial LLC boosted its position in Quanta Services, Inc. (NYSE:PWR – Get Rating) by 3.1% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 120,709 shares of the construction company’s stock after acquiring an additional 3,642 shares during the quarter. LPL Financial LLC’s holdings in Quanta Services were worth $17,201,000 at the end of the most recent quarter.

A number of other institutional investors also recently added to or reduced their stakes in the company. Centaurus Financial Inc. raised its holdings in shares of Quanta Services by 2.7% in the 3rd quarter. Centaurus Financial Inc. now owns 2,624 shares of the construction company’s stock valued at $334,000 after purchasing an additional 70 shares in the last quarter. Quadrant Capital Group LLC lifted its holdings in Quanta Services by 4.8% during the 3rd quarter. Quadrant Capital Group LLC now owns 1,544 shares of the construction company’s stock worth $197,000 after buying an additional 71 shares during the last quarter. Sumitomo Mitsui DS Asset Management Company Ltd increased its holdings in shares of Quanta Services by 0.8% in the 4th quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 10,577 shares of the construction company’s stock valued at $1,507,000 after acquiring an additional 82 shares during the last quarter. Wexford Capital LP raised its position in shares of Quanta Services by 2.8% during the 2nd quarter. Wexford Capital LP now owns 3,054 shares of the construction company’s stock worth $383,000 after acquiring an additional 82 shares in the last quarter. Finally, Raymond James Trust N.A. lifted its stake in Quanta Services by 1.8% during the fourth quarter. Raymond James Trust N.A. now owns 4,851 shares of the construction company’s stock worth $691,000 after purchasing an additional 88 shares during the last quarter. Hedge funds and other institutional investors own 89.29% of the company’s stock.

Quanta Services Stock Performance

Shares of NYSE:PWR opened at $171.07 on Monday. The company has a market cap of $24.83 billion, a P/E ratio of 50.46 and a beta of 1.08. The business’s 50-day simple moving average is $163.21 and its 200 day simple moving average is $152.54. Quanta Services, Inc. has a one year low of $106.33 and a one year high of $171.94. The company has a debt-to-equity ratio of 0.74, a quick ratio of 1.59 and a current ratio of 1.63.

Want More Great Investing Ideas?

Quanta Services (NYSE:PWR – Get Rating) last issued its quarterly earnings results on Thursday, February 23rd. The construction company reported $1.54 EPS for the quarter, beating analysts’ consensus estimates of $1.48 by $0.06. Quanta Services had a return on equity of 15.72% and a net margin of 2.86%. The firm had revenue of $4.42 billion during the quarter, compared to the consensus estimate of $4.27 billion. On average, sell-side analysts forecast that Quanta Services, Inc. will post 6.44 earnings per share for the current fiscal year.

Quanta Services Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, April 18th. Investors of record on Monday, April 10th were given a dividend of $0.08 per share. The ex-dividend date was Thursday, April 6th. This represents a $0.32 dividend on an annualized basis and a yield of 0.19%. Quanta Services’s dividend payout ratio is currently 9.44%.

Insiders Place Their Bets

In other news, EVP Donald Wayne sold 14,476 shares of the stock in a transaction on Monday, February 27th. The stock was sold at an average price of $162.89, for a total value of $2,357,995.64. Following the completion of the transaction, the executive vice president now owns 49,647 shares of the company’s stock, valued at $8,086,999.83. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Insiders have sold 41,646 shares of company stock valued at $6,801,898 over the last three months. Company insiders own 1.20% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have weighed in on PWR. StockNews.com initiated coverage on shares of Quanta Services in a report on Thursday, March 16th. They set a “hold” rating on the stock. Argus boosted their price target on shares of Quanta Services from $168.00 to $189.00 and gave the company a “buy” rating in a research report on Friday, February 24th. Robert W. Baird raised their price objective on Quanta Services from $173.00 to $186.00 in a report on Friday. The Goldman Sachs Group lifted their target price on Quanta Services from $150.00 to $171.00 and gave the stock a “neutral” rating in a research report on Monday, April 17th. Finally, DA Davidson upped their target price on Quanta Services from $140.00 to $160.00 in a research report on Friday, February 24th. Two investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat, Quanta Services has an average rating of “Moderate Buy” and an average price target of $175.70.

Quanta Services Company Profile

(Get Rating)

Quanta Services, Inc engages in the provision of comprehensive infrastructure solutions to the electric power, oil and gas, and communication industries. It operates through the following segments: Electric Power Infrastructure Solutions, Renewable Energy Infrastructure Solutions, and Underground Utility and Infrastructure Solutions.