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

LPL Financial LLC raised its position in Quanta Services, Inc. (NYSE:PWR - Free Report) by 24.8% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 200,147 shares of the construction company's stock after purchasing 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 filing with the Securities and Exchange Commission.

Other hedge funds also recently made changes to their positions in the company. State Street Corp grew its position in 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 in the last quarter. Geode Capital Management LLC boosted 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 valued at $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 increased its stake 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 valued at $316,055,000 after acquiring an additional 43,715 shares during the period. Bank of New York Mellon Corp raised its holdings in Quanta Services by 4.6% during the fourth quarter. Bank of New York Mellon Corp now owns 1,024,510 shares of the construction company's stock worth $323,797,000 after purchasing an additional 45,486 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. boosted 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 valued at $275,872,000 after purchasing an additional 24,100 shares in the last quarter. Institutional investors own 90.49% of the company's stock.

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Analysts Set New Price Targets

Several analysts have recently weighed in on PWR shares. Daiwa America lowered Quanta Services from a "strong-buy" rating to a "hold" rating in a report on Monday, February 24th. Truist Financial reduced their price objective on shares of Quanta Services from $399.00 to $398.00 and set a "buy" rating for the company in a research report on Thursday, January 16th. Guggenheim started coverage on shares of Quanta Services in a report on Wednesday, January 8th. They issued a "neutral" rating on the stock. Citigroup reduced their target price on shares of Quanta Services from $394.00 to $371.00 and set a "buy" rating for the company in a report on Wednesday, January 29th. Finally, Daiwa Capital Markets cut Quanta Services from an "outperform" rating to a "neutral" rating in a report on Monday, February 24th. Seven investment analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, Quanta Services has an average rating of "Moderate Buy" and a consensus price target of $326.79.

Quanta Services Stock Down 0.3 %

Quanta Services stock traded down $0.71 during trading hours on Friday, hitting $254.17. The company had a trading volume of 1,150,073 shares, compared to its average volume of 1,724,061. Quanta Services, Inc. has a fifty-two week low of $227.11 and a fifty-two week high of $365.88. 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 firm has a market capitalization of $37.67 billion, a P/E ratio of 42.15, a price-to-earnings-growth ratio of 1.41 and a beta of 1.10. The firm's fifty day moving average is $283.07 and its 200-day moving average is $304.75.

Quanta Services (NYSE:PWR - Get Free Report) last posted its quarterly earnings results on Thursday, February 20th. The construction company reported $2.74 earnings per share for the quarter, topping analysts' consensus estimates of $2.62 by $0.12. The business had revenue of $6.55 billion for 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%. On average, research analysts forecast that Quanta Services, Inc. will post 9.34 earnings per share for the current year.

Quanta Services Dividend Announcement

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 paid a $0.10 dividend. The ex-dividend date of this dividend is Thursday, April 3rd. This represents a $0.40 annualized dividend and a dividend yield of 0.16%. Quanta Services's payout ratio is 6.63%.

Quanta Services 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.