LPL Financial LLC Buys 20,205 Shares of Quanta Services, Inc. (NYSE:PWR)

LPL Financial LLC raised its stake in Quanta Services, Inc. (NYSE:PWR) by 15.1% during the second quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 154,176 shares of the construction company’s stock after acquiring an additional 20,205 shares during the period. LPL Financial LLC owned approximately 0.11% of Quanta Services worth $39,174,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Nomura Holdings Inc. bought a new stake in Quanta Services in the 4th quarter valued at $631,000. Wellington Management Group LLP increased its holdings in shares of Quanta Services by 581.3% in the 4th quarter. Wellington Management Group LLP now owns 117,014 shares of the construction company’s stock worth $25,252,000 after buying an additional 99,840 shares during the last quarter. Vanguard Group Inc. increased its holdings in shares of Quanta Services by 1.2% in the 4th quarter. Vanguard Group Inc. now owns 16,235,875 shares of the construction company’s stock worth $3,503,702,000 after buying an additional 191,334 shares during the last quarter. Allen Investment Management LLC increased its holdings in shares of Quanta Services by 1,418.0% in the 1st quarter. Allen Investment Management LLC now owns 33,396 shares of the construction company’s stock worth $8,676,000 after buying an additional 31,196 shares during the last quarter. Finally, Public Employees Retirement Association of Colorado increased its holdings in shares of Quanta Services by 20,298.9% in the 4th quarter. Public Employees Retirement Association of Colorado now owns 1,057,681 shares of the construction company’s stock worth $228,248,000 after buying an additional 1,052,496 shares during the last quarter. 90.49% of the stock is currently owned by institutional investors.

Quanta Services Price Performance

Shares of PWR stock opened at $269.54 on Monday. The company has a debt-to-equity ratio of 0.45, a current ratio of 1.30 and a quick ratio of 1.25. The company has a market capitalization of $39.46 billion, a P/E ratio of 52.24 and a beta of 1.01. The company’s 50-day simple moving average is $260.21 and its two-hundred day simple moving average is $260.22. Quanta Services, Inc. has a one year low of $153.74 and a one year high of $286.87.

Quanta Services (NYSE:PWR) last announced its quarterly earnings results on Thursday, August 1st. The construction company reported $1.90 earnings per share for the quarter, topping the consensus estimate of $1.75 by $0.15. Quanta Services had a net margin of 3.59% and a return on equity of 16.29%. The firm had revenue of $5.59 billion during the quarter, compared to analysts’ expectations of $5.51 billion. During the same quarter in the prior year, the company earned $1.47 EPS. The company’s revenue was up 10.8% compared to the same quarter last year. As a group, equities analysts anticipate that Quanta Services, Inc. will post 7.82 EPS for the current year.

Quanta Services Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, October 11th. Investors of record on Tuesday, October 1st will be given a dividend of $0.09 per share. The ex-dividend date is Tuesday, October 1st. This represents a $0.36 dividend on an annualized basis and a yield of 0.13%. Quanta Services’s payout ratio is 6.98%.

Analysts Set New Price Targets

A number of analysts have recently weighed in on PWR shares. Citigroup boosted their target price on shares of Quanta Services from $299.00 to $302.00 and gave the stock a “buy” rating in a report on Monday, July 22nd. B. Riley boosted their target price on shares of Quanta Services from $286.00 to $303.00 and gave the stock a “buy” rating in a report on Friday, August 2nd. Argus upped their price target on shares of Quanta Services from $285.00 to $310.00 and gave the company a “buy” rating in a report on Thursday, May 30th. Jefferies Financial Group started coverage on shares of Quanta Services in a report on Wednesday, September 4th. They set a “hold” rating and a $256.00 price target on the stock. Finally, TD Cowen upped their price target on shares of Quanta Services from $270.00 to $280.00 and gave the company a “buy” rating in a report on Thursday, August 8th. Four analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $284.50.

Insider Activity at Quanta Services

In related news, insider Karl W. Studer sold 23,357 shares of the stock in a transaction that occurred on Wednesday, August 21st. The shares were sold at an average price of $270.51, for a total transaction of $6,318,302.07. Following the completion of the sale, the insider now owns 10,631 shares of the company’s stock, valued at $2,875,791.81. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, CEO Earl C. Jr. Austin sold 130,000 shares of the stock in a transaction on Wednesday, August 14th. The shares were sold at an average price of $262.21, for a total value of $34,087,300.00. Following the sale, the chief executive officer now owns 593,402 shares in the company, valued at $155,595,938.42. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Karl W. Studer sold 23,357 shares of the firm’s stock in a transaction on Wednesday, August 21st. The shares were sold at an average price of $270.51, for a total transaction of $6,318,302.07. Following the sale, the insider now owns 10,631 shares in the company, valued at approximately $2,875,791.81. The disclosure for this sale can be found here. Insiders sold 202,357 shares of company stock valued at $53,115,572 over the last 90 days. Insiders own 1.10% of the company’s stock.

Quanta Services Company Profile

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.