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

Posted by Defense World Staff on May 8th, 2023

LPL Financial LLC lifted its stake in Quanta Services, Inc. (NYSE:PWR – Get Rating) by 3.1% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 120,709 shares of the construction company’s stock after purchasing an additional 3,642 shares during the period. LPL Financial LLC owned 0.08% of Quanta Services worth $17,201,000 as of its most recent SEC filing.

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

Insider Transactions at Quanta Services

In related news, EVP Donald Wayne sold 23,214 shares of the stock in a transaction that occurred on Monday, March 6th. The shares were sold at an average price of $163.68, for a total transaction of $3,799,667.52. Following the completion of the sale, the executive vice president now owns 50,367 shares of the company’s stock, valued at $8,244,070.56. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders have sold a total of 41,646 shares of company stock valued at $6,801,898 in the last 90 days. Insiders own 1.20% of the company’s stock.

Quanta Services Price Performance

NYSE PWR opened at $171.07 on Monday. The company has a market cap of $24.83 billion, a PE ratio of 50.46 and a beta of 1.08. The firm’s 50 day moving average price is $163.21 and its 200-day moving average price is $152.54. The company has a debt-to-equity ratio of 0.74, a quick ratio of 1.59 and a current ratio of 1.63. Quanta Services, Inc. has a 52-week low of $106.33 and a 52-week high of $171.94.

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

Quanta Services Announces Dividend

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

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on PWR shares. DA Davidson boosted their price target on Quanta Services from $140.00 to $160.00 in a research note on Friday, February 24th. The Goldman Sachs Group raised their price target on shares of Quanta Services from $150.00 to $171.00 and gave the company a “neutral” rating in a report on Monday, April 17th. StockNews.com started coverage on shares of Quanta Services in a research note on Thursday, March 16th. They issued a “hold” rating for the company. Argus raised their target price on shares of Quanta Services from $168.00 to $189.00 and gave the stock a “buy” rating in a report on Friday, February 24th. Finally, KeyCorp boosted their target price on shares of Quanta Services from $174.00 to $190.00 in a research note on Monday, April 24th. Two equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $175.70.

Quanta Services Profile

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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.