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

Alpha Cubed Investments LLC grew its holdings in Quanta Services, Inc. (NYSE:PWR) by 0.7% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 188,333 shares of the construction company’s stock after buying an additional 1,365 shares during the quarter. Quanta Services comprises 2.7% of Alpha Cubed Investments LLC’s investment portfolio, making the stock its 10th biggest holding. Alpha Cubed Investments LLC owned 0.13% of Quanta Services worth $59,523,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of the business. State Street Corp grew its holdings in shares of Quanta Services by 1.6% in the 3rd quarter. State Street Corp now owns 5,748,637 shares of the construction company’s stock worth $1,713,956,000 after acquiring an additional 89,975 shares during the period. Geode Capital Management LLC grew its holdings in 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 purchasing an additional 46,357 shares during the last quarter. Electron Capital Partners LLC increased its position 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. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its position in shares of Quanta Services by 4.3% in the 3rd 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 worth $316,055,000 after buying an additional 43,715 shares in the last quarter. Finally, Swedbank AB grew its stake in Quanta Services by 4.6% in the 3rd quarter. Swedbank AB now owns 960,081 shares of the construction company’s stock valued at $286,248,000 after acquiring an additional 42,579 shares during the last quarter. Hedge funds and other institutional investors own 90.49% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on PWR shares. Guggenheim initiated coverage on shares of Quanta Services in a report on Wednesday, January 8th. They issued a “neutral” rating on the stock. Truist Financial lowered their target price on shares of Quanta Services from $399.00 to $398.00 and set a “buy” rating for the company in a research note on Thursday, January 16th. TD Cowen upped their price target on Quanta Services from $280.00 to $335.00 and gave the stock a “buy” rating in a research note on Tuesday, October 15th. Citigroup lifted their price objective on Quanta Services from $348.00 to $394.00 and gave the company a “buy” rating in a research note on Monday, December 9th. Finally, Robert W. Baird raised their price target on shares of Quanta Services from $320.00 to $333.00 and gave the company an “outperform” rating in a report on Friday, November 1st. Four equities research 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 company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $324.19.

Quanta Services Price Performance

Shares of PWR opened at $337.10 on Tuesday. The company has a market cap of $49.76 billion, a P/E ratio of 62.20 and a beta of 1.06. The stock has a fifty day moving average price of $329.50 and a 200 day moving average price of $297.36. Quanta Services, Inc. has a 12 month low of $187.27 and a 12 month high of $350.19. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.23 and a quick ratio of 1.19.

Quanta Services (NYSE:PWR) last released its quarterly earnings results on Thursday, October 31st. The construction company reported $2.72 earnings per share for the quarter, beating analysts’ consensus estimates of $2.46 by $0.26. Quanta Services had a return on equity of 16.71% and a net margin of 3.54%. The company had revenue of $6.49 billion for the quarter, compared to analysts’ expectations of $6.56 billion. During the same quarter in the previous year, the company posted $2.08 earnings per share. The business’s revenue for the quarter was up 15.5% compared to the same quarter last year. On average, research analysts forecast that Quanta Services, Inc. will post 7.9 earnings per share for the current year.

Quanta Services Increases Dividend

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

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.