Alpha Cubed Investments LLC Grows Stock Holdings in Quanta Services, Inc. (NYSE:PWR)

Alpha Cubed Investments LLC boosted its position in Quanta Services, Inc. (NYSE:PWR) by 137.6% in the 4th quarter, according to its most recent filing with the SEC. The firm owned 138,660 shares of the construction company’s stock after acquiring an additional 80,290 shares during the period. Quanta Services comprises approximately 1.7% of Alpha Cubed Investments LLC’s holdings, making the stock its 18th biggest holding. Alpha Cubed Investments LLC owned 0.10% of Quanta Services worth $29,923,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Grove Bank & Trust grew its stake in shares of Quanta Services by 75.6% during the 3rd quarter. Grove Bank & Trust now owns 158 shares of the construction company’s stock valued at $30,000 after buying an additional 68 shares during the period. Hazlett Burt & Watson Inc. grew its stake in shares of Quanta Services by 47.3% during the 4th quarter. Hazlett Burt & Watson Inc. now owns 162 shares of the construction company’s stock valued at $34,000 after buying an additional 52 shares during the period. NBC Securities Inc. purchased a new stake in shares of Quanta Services during the 3rd quarter valued at $36,000. Valley National Advisers Inc. purchased a new stake in shares of Quanta Services during the 4th quarter valued at $41,000. Finally, Planned Solutions Inc. purchased a new stake in shares of Quanta Services during the 4th quarter valued at $43,000. 90.49% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

PWR has been the topic of several recent research reports. TD Cowen lifted their target price on shares of Quanta Services from $205.00 to $270.00 and gave the company an “outperform” rating in a report on Tuesday, February 27th. Truist Financial initiated coverage on shares of Quanta Services in a report on Thursday, March 14th. They set a “buy” rating and a $301.00 target price on the stock. KeyCorp initiated coverage on shares of Quanta Services in a report on Wednesday, January 10th. They issued a “sector weight” rating on the stock. Citigroup boosted their price objective on shares of Quanta Services from $275.00 to $285.00 and gave the stock a “buy” rating in a report on Monday, April 22nd. Finally, DA Davidson boosted their price objective on shares of Quanta Services from $190.00 to $225.00 and gave the stock a “neutral” rating in a report on Wednesday, February 28th. Three research analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. According to data from MarketBeat.com, Quanta Services currently has an average rating of “Moderate Buy” and a consensus target price of $247.67.

Insider Activity at Quanta Services

In other Quanta Services news, EVP Donald Wayne sold 595 shares of the company’s stock in a transaction dated Tuesday, March 12th. The shares were sold at an average price of $239.61, for a total value of $142,567.95. Following the completion of the transaction, the executive vice president now owns 41,954 shares in the company, valued at approximately $10,052,597.94. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In other Quanta Services news, EVP Derrick A. Jensen sold 18,500 shares of the company’s stock in a transaction dated Tuesday, February 27th. The shares were sold at an average price of $236.90, for a total value of $4,382,650.00. Following the completion of the transaction, the executive vice president now owns 263,725 shares in the company, valued at approximately $62,476,452.50. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, EVP Donald Wayne sold 595 shares of the company’s stock in a transaction that occurred on Tuesday, March 12th. The stock was sold at an average price of $239.61, for a total transaction of $142,567.95. Following the completion of the sale, the executive vice president now directly owns 41,954 shares of the company’s stock, valued at $10,052,597.94. The disclosure for this sale can be found here. Insiders sold a total of 47,125 shares of company stock valued at $11,270,215 in the last quarter. Insiders own 1.10% of the company’s stock.

Quanta Services Stock Down 1.4 %

Shares of Quanta Services stock traded down $3.80 during trading on Tuesday, reaching $258.54. The company had a trading volume of 1,066,476 shares, compared to its average volume of 925,198. The company has a debt-to-equity ratio of 0.58, a quick ratio of 1.44 and a current ratio of 1.47. Quanta Services, Inc. has a fifty-two week low of $153.74 and a fifty-two week high of $265.82. The firm’s fifty day moving average is $247.93 and its 200-day moving average is $212.69. The company has a market cap of $37.85 billion, a price-to-earnings ratio of 52.36 and a beta of 1.11.

Quanta Services (NYSE:PWR) last announced its quarterly earnings data on Thursday, February 22nd. The construction company reported $2.04 earnings per share for the quarter, beating analysts’ consensus estimates of $1.83 by $0.21. Quanta Services had a net margin of 3.57% and a return on equity of 16.46%. The business had revenue of $5.78 billion during the quarter, compared to the consensus estimate of $5.19 billion. During the same quarter in the prior year, the firm earned $1.54 EPS. The company’s revenue for the quarter was up 31.0% compared to the same quarter last year. On average, analysts anticipate that Quanta Services, Inc. will post 7.63 EPS for the current year.

Quanta Services Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, April 17th. Investors of record on Tuesday, April 9th were given a dividend of $0.09 per share. This represents a $0.36 dividend on an annualized basis and a dividend yield of 0.14%. The ex-dividend date of this dividend was Monday, April 8th. Quanta Services’s dividend payout ratio is presently 7.19%.

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.