LPL Financial LLC Buys 39,764 Shares of Quanta Services, Inc. (NYSE:PWR)

LPL Financial LLC increased its position in shares of Quanta Services, Inc. (NYSE:PWR) by 24.8% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 200,147 shares of the construction company’s stock after acquiring an additional 39,764 shares during the quarter. LPL Financial LLC owned about 0.14% of Quanta Services worth $63,256,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of PWR. State Street Corp grew its holdings in shares of Quanta Services by 1.6% in the 3rd quarter. State Street Corp now owns 5,748,637 shares of the construction company’s stock valued at $1,713,956,000 after buying an additional 89,975 shares during the period. Geode Capital Management LLC increased its holdings in shares of Quanta Services by 1.4% in the third quarter. Geode Capital Management LLC now owns 3,459,411 shares of the construction company’s stock worth $1,027,887,000 after acquiring an additional 46,357 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position in shares of Quanta Services by 4.3% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,060,052 shares of the construction company’s stock worth $316,055,000 after purchasing an additional 43,715 shares during the period. Bank of New York Mellon Corp lifted its holdings in shares of Quanta Services by 4.6% during the 4th quarter. Bank of New York Mellon Corp now owns 1,024,510 shares of the construction company’s stock valued at $323,797,000 after purchasing an additional 45,486 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. increased its stake in Quanta Services by 2.8% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 872,876 shares of the construction company’s stock worth $275,872,000 after purchasing an additional 24,100 shares in the last quarter. Institutional investors and hedge funds own 90.49% of the company’s stock.

Quanta Services Trading Down 5.7 %

Shares of Quanta Services stock opened at $260.45 on Thursday. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.30 and a quick ratio of 1.19. The business has a fifty day simple moving average of $286.36 and a two-hundred day simple moving average of $304.69. Quanta Services, Inc. has a 1 year low of $227.11 and a 1 year high of $365.88. The company has a market capitalization of $38.60 billion, a price-to-earnings ratio of 43.19, a P/E/G ratio of 1.41 and a beta of 1.10.

Quanta Services (NYSE:PWR) last announced its earnings results on Thursday, February 20th. The construction company reported $2.74 EPS for the quarter, topping the consensus estimate of $2.62 by $0.12. The business had revenue of $6.55 billion during the quarter, compared to the consensus estimate of $6.61 billion. Quanta Services had a net margin of 3.82% and a return on equity of 18.00%. Research analysts forecast that Quanta Services, Inc. will post 9.34 EPS for the current year.

Quanta Services Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, April 11th. Investors of record on Thursday, April 3rd will be issued a dividend of $0.10 per share. The ex-dividend date is Thursday, April 3rd. This represents a $0.40 annualized dividend and a yield of 0.15%. Quanta Services’s payout ratio is currently 6.63%.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on PWR. Stifel Nicolaus cut their price target on shares of Quanta Services from $388.00 to $323.00 and set a “buy” rating on the stock in a research note on Monday, February 24th. B. Riley reaffirmed a “neutral” rating and issued a $300.00 target price (down from $343.00) on shares of Quanta Services in a research note on Wednesday, March 19th. Daiwa America cut Quanta Services from a “strong-buy” rating to a “hold” rating in a report on Monday, February 24th. Bank of America began coverage on Quanta Services in a research report on Friday, January 24th. They set a “buy” rating and a $407.00 price objective for the company. Finally, Roth Capital upgraded Quanta Services to a “strong-buy” rating in a research note on Thursday, February 20th. Seven analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, Quanta Services currently has a consensus rating of “Moderate Buy” and an average price target of $326.79.

About Quanta Services

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.