LPL Financial LLC Has $60.65 Million Stock Position in Quanta Services, Inc. (NYSE:PWR)

Key Points

• LPL Financial LLC increased its stake in Quanta Services, Inc. by 19.2% during the first quarter, now owning approximately $60.65 million worth of shares.
• Analysts have generally rated Quanta Services positively, with the consensus target price currently at $375.23 and 14 out of 26 analysts issuing a buy rating.
• The company reported $2.48 EPS for the most recent quarter, exceeding expectations, while its revenue increased by 21.1% compared to the previous year.

LPL Financial LLC increased its stake in Quanta Services, Inc. (NYSE:PWR - Free Report) by 19.2% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 238,596 shares of the construction company's stock after acquiring an additional 38,449 shares during the quarter. LPL Financial LLC owned about 0.16% of Quanta Services worth $60,646,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of PWR. Second Half Financial Partners LLC grew its stake in Quanta Services by 29.5% during the first quarter. Second Half Financial Partners LLC now owns 1,779 shares of the construction company's stock worth $452,000 after purchasing an additional 405 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank grew its position in shares of Quanta Services by 20.4% during the 1st quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 316,752 shares of the construction company's stock worth $80,512,000 after buying an additional 53,614 shares during the period. Empirical Finance LLC increased its stake in shares of Quanta Services by 2.4% in the 1st quarter. Empirical Finance LLC now owns 4,995 shares of the construction company's stock valued at $1,270,000 after acquiring an additional 115 shares in the last quarter. Mediolanum International Funds Ltd lifted its position in shares of Quanta Services by 160.3% during the 1st quarter. Mediolanum International Funds Ltd now owns 28,707 shares of the construction company's stock valued at $7,300,000 after acquiring an additional 17,677 shares during the period. Finally, First Heartland Consultants Inc. grew its holdings in Quanta Services by 5.4% in the first quarter. First Heartland Consultants Inc. now owns 1,627 shares of the construction company's stock worth $414,000 after purchasing an additional 83 shares during the period. 90.49% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on the stock. Piper Sandler reissued an "overweight" rating and set a $370.00 price objective (up previously from $360.00) on shares of Quanta Services in a research report on Tuesday, May 27th. The Goldman Sachs Group reaffirmed a "buy" rating and set a $414.00 target price (up from $364.00) on shares of Quanta Services in a research report on Wednesday, June 4th. Northland Capmk lowered shares of Quanta Services from a "strong-buy" rating to a "hold" rating in a research note on Wednesday, July 2nd. JPMorgan Chase & Co. lifted their price target on Quanta Services from $345.00 to $392.00 and gave the company a "neutral" rating in a research note on Tuesday, July 22nd. Finally, Roth Capital reissued a "buy" rating and issued a $450.00 price objective (up from $350.00) on shares of Quanta Services in a research note on Tuesday. Eleven analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $375.23.

Quanta Services Stock Down 1.6%

PWR opened at $404.73 on Friday. Quanta Services, Inc. has a 12 month low of $227.08 and a 12 month high of $424.94. The company has a market cap of $60.01 billion, a PE ratio of 65.28, a price-to-earnings-growth ratio of 2.83 and a beta of 1.08. The company has a current ratio of 1.31, a quick ratio of 1.26 and a debt-to-equity ratio of 0.58. The company has a 50 day moving average of $374.19 and a 200 day moving average of $318.48.

Quanta Services (NYSE:PWR - Get Free Report) last released its quarterly earnings data on Thursday, July 31st. The construction company reported $2.48 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.44 by $0.04. Quanta Services had a return on equity of 18.06% and a net margin of 3.74%. The company had revenue of $6.77 billion for the quarter, compared to analyst estimates of $6.55 billion. During the same period in the previous year, the company posted $1.90 EPS. The firm's revenue for the quarter was up 21.1% compared to the same quarter last year. On average, sell-side analysts expect that Quanta Services, Inc. will post 9.34 EPS for the current year.

Quanta Services Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, July 11th. Investors of record on Tuesday, July 1st were given a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a dividend yield of 0.1%. The ex-dividend date was Tuesday, July 1st. Quanta Services's dividend payout ratio (DPR) is 6.45%.

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.

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