Quanta Services, Inc. (NYSE:PWR) Shares Purchased by Alpha Cubed Investments LLC

Alpha Cubed Investments LLC boosted its position in Quanta Services, Inc. (NYSE:PWR - Free Report) by 26.2% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 237,680 shares of the construction company's stock after buying an additional 49,347 shares during the period. Quanta Services makes up about 2.7% of Alpha Cubed Investments LLC's holdings, making the stock its 10th biggest position. Alpha Cubed Investments LLC owned approximately 0.16% of Quanta Services worth $60,413,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Banque Transatlantique SA purchased a new stake in shares of Quanta Services during the 4th quarter worth $25,000. Quarry LP purchased a new stake in shares of Quanta Services during the 4th quarter worth $26,000. Rakuten Securities Inc. boosted its position in shares of Quanta Services by 1,027.3% during the 4th quarter. Rakuten Securities Inc. now owns 124 shares of the construction company's stock worth $39,000 after purchasing an additional 113 shares in the last quarter. OLD Second National Bank of Aurora purchased a new stake in shares of Quanta Services during the 1st quarter worth $42,000. Finally, Sound Income Strategies LLC boosted its position in shares of Quanta Services by 77.9% during the 1st quarter. Sound Income Strategies LLC now owns 185 shares of the construction company's stock worth $47,000 after purchasing an additional 81 shares in the last quarter. 90.49% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several brokerages have commented on PWR. Stifel Nicolaus boosted their target price on shares of Quanta Services from $306.00 to $363.00 and gave the stock a "buy" rating in a research report on Monday, May 5th. Truist Financial decreased their price objective on shares of Quanta Services from $398.00 to $324.00 and set a "buy" rating on the stock in a research report on Tuesday, April 8th. Wall Street Zen upgraded shares of Quanta Services from a "hold" rating to a "buy" rating in a research report on Friday, June 27th. Evercore ISI boosted their price objective on shares of Quanta Services from $331.00 to $360.00 and gave the stock an "outperform" rating in a research report on Friday, May 2nd. Finally, Northland Securities lowered shares of Quanta Services from an "outperform" rating to a "market perform" rating and set a $354.00 price objective on the stock. in a research report on Wednesday, July 2nd. Eight investment analysts have rated the stock with a hold rating, fourteen have issued a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat.com, Quanta Services currently has an average rating of "Moderate Buy" and an average target price of $350.95.

Quanta Services Trading Up 1.2%

Shares of NYSE PWR traded up $4.45 on Wednesday, reaching $382.01. 631,876 shares of the company traded hands, compared to its average volume of 1,066,165. Quanta Services, Inc. has a fifty-two week low of $227.08 and a fifty-two week high of $388.00. The company has a 50 day moving average of $352.83 and a 200 day moving average of $309.79. The company has a current ratio of 1.31, a quick ratio of 1.26 and a debt-to-equity ratio of 0.58. The stock has a market capitalization of $56.64 billion, a PE ratio of 61.61, a P/E/G ratio of 2.94 and a beta of 1.08.

Quanta Services (NYSE:PWR - Get Free Report) last posted its quarterly earnings data on Thursday, May 1st. The construction company reported $1.78 EPS for the quarter, beating analysts' consensus estimates of $1.72 by $0.06. Quanta Services had a net margin of 3.74% and a return on equity of 18.06%. The company had revenue of $6.23 billion during the quarter, compared to the consensus estimate of $5.88 billion. During the same quarter in the prior year, the company posted $1.41 EPS. The company's quarterly revenue was up 23.9% compared to the same quarter last year. On average, equities research analysts forecast that Quanta Services, Inc. will post 9.34 earnings per share for the current fiscal year.

Quanta Services Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, July 11th. Investors of record on Tuesday, July 1st will be given a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a yield of 0.10%. The ex-dividend date is Tuesday, July 1st. Quanta Services's dividend payout ratio (DPR) is presently 6.45%.

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.