Alpha Cubed Investments LLC Purchases 1,365 Shares of Quanta Services, Inc. (NYSE:PWR)

Alpha Cubed Investments LLC increased its position in Quanta Services, Inc. (NYSE:PWR) by 0.7% in the 4th quarter, HoldingsChannel reports. The institutional investor owned 188,333 shares of the construction company’s stock after acquiring an additional 1,365 shares during the period. Quanta Services makes up about 2.7% of Alpha Cubed Investments LLC’s investment portfolio, making the stock its 10th largest position. Alpha Cubed Investments LLC’s holdings in Quanta Services were worth $59,523,000 at the end of the most recent reporting period.

Several other large investors have also bought and sold shares of the company. Electron Capital Partners LLC increased its holdings in shares of Quanta Services by 395.1% in the second quarter. Electron Capital Partners LLC now owns 2,622,142 shares of the construction company’s stock valued at $666,260,000 after buying an additional 2,092,519 shares in the last quarter. Alkeon Capital Management LLC lifted its holdings in shares of Quanta Services by 62.5% during the third quarter. Alkeon Capital Management LLC now owns 650,000 shares of the construction company’s stock valued at $193,798,000 after purchasing an additional 250,000 shares during the last quarter. Public Sector Pension Investment Board boosted its position in shares of Quanta Services by 4,701.7% in the 2nd quarter. Public Sector Pension Investment Board now owns 153,559 shares of the construction company’s stock valued at $39,018,000 after purchasing an additional 150,361 shares during the period. International Assets Investment Management LLC increased its stake in Quanta Services by 29,655.3% in the 3rd quarter. International Assets Investment Management LLC now owns 148,479 shares of the construction company’s stock worth $44,269,000 after purchasing an additional 147,980 shares in the last quarter. Finally, Meitav Investment House Ltd. purchased a new stake in Quanta Services during the third quarter valued at about $27,430,000. Institutional investors own 90.49% of the company’s stock.

Quanta Services Trading Up 0.3 %

PWR stock opened at $337.10 on Tuesday. The company has a current ratio of 1.23, a quick ratio of 1.19 and a debt-to-equity ratio of 0.58. The firm has a market cap of $49.76 billion, a P/E ratio of 62.20 and a beta of 1.06. Quanta Services, Inc. has a 1-year low of $187.27 and a 1-year high of $350.19. The business’s 50 day moving average is $329.50 and its 200-day moving average is $297.36.

Quanta Services (NYSE:PWR) last posted its earnings results on Thursday, October 31st. The construction company reported $2.72 earnings per share for the quarter, topping the consensus estimate of $2.46 by $0.26. Quanta Services had a net margin of 3.54% and a return on equity of 16.71%. The business had revenue of $6.49 billion for the quarter, compared to analyst estimates of $6.56 billion. During the same quarter in the prior year, the firm earned $2.08 EPS. The firm’s quarterly revenue was up 15.5% compared to the same quarter last year. Equities analysts anticipate that Quanta Services, Inc. will post 7.9 earnings per share for the current fiscal year.

Quanta Services Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, January 13th. Shareholders of record on Thursday, January 2nd were paid a $0.10 dividend. The ex-dividend date of this dividend was Thursday, January 2nd. This represents a $0.40 dividend on an annualized basis and a yield of 0.12%. This is a positive change from Quanta Services’s previous quarterly dividend of $0.09. Quanta Services’s payout ratio is currently 7.38%.

Analyst Ratings Changes

A number of brokerages have recently weighed in on PWR. Truist Financial lowered their price target on Quanta Services from $399.00 to $398.00 and set a “buy” rating on the stock in a report on Thursday, January 16th. Citigroup upped their target price on Quanta Services from $348.00 to $394.00 and gave the company a “buy” rating in a report on Monday, December 9th. Robert W. Baird upped their price objective on shares of Quanta Services from $320.00 to $333.00 and gave the stock an “outperform” rating in a report on Friday, November 1st. Daiwa America upgraded Quanta Services to a “strong-buy” rating in a report on Friday, December 6th. Finally, Stifel Nicolaus increased their price objective on Quanta Services from $343.00 to $374.00 and gave the company a “buy” rating in a report on Wednesday, December 11th. Four analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, Quanta Services has an average rating of “Moderate Buy” and a consensus price target of $324.19.

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.