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

Alpha Cubed Investments LLC lifted its position in shares of Quanta Services, Inc. (NYSE:PWR - Free Report) by 26.2% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 237,680 shares of the construction company's stock after acquiring an additional 49,347 shares during the quarter. Quanta Services accounts for approximately 2.7% of Alpha Cubed Investments LLC's portfolio, making the stock its 10th largest holding. Alpha Cubed Investments LLC owned about 0.16% of Quanta Services worth $60,413,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in PWR. Brighton Jones LLC purchased a new stake in Quanta Services during the fourth quarter worth about $298,000. Assetmark Inc. boosted its holdings in Quanta Services by 15.0% during the fourth quarter. Assetmark Inc. now owns 6,648 shares of the construction company's stock worth $2,101,000 after buying an additional 867 shares in the last quarter. Proficio Capital Partners LLC purchased a new stake in Quanta Services during the fourth quarter worth about $53,949,000. Vestmark Advisory Solutions Inc. boosted its holdings in Quanta Services by 10.9% during the fourth quarter. Vestmark Advisory Solutions Inc. now owns 1,048 shares of the construction company's stock worth $331,000 after buying an additional 103 shares in the last quarter. Finally, Callan Family Office LLC purchased a new stake in Quanta Services during the fourth quarter worth about $1,066,000. 90.49% of the stock is currently owned by institutional investors and hedge funds.

Quanta Services Trading Down 2.1%

PWR stock traded down $7.96 on Tuesday, hitting $377.84. 1,154,614 shares of the company were exchanged, compared to its average volume of 1,082,942. Quanta Services, Inc. has a twelve month low of $227.08 and a twelve month high of $388.00. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.31 and a quick ratio of 1.26. The business's fifty day moving average is $351.05 and its two-hundred day moving average is $309.28. The stock has a market capitalization of $56.02 billion, a price-to-earnings ratio of 60.94, a price-to-earnings-growth ratio of 3.00 and a beta of 1.08.

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

Quanta Services Dividend Announcement

The business also recently declared 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 annualized dividend and a yield of 0.11%. The ex-dividend date is Tuesday, July 1st. Quanta Services's dividend payout ratio (DPR) is 6.45%.

Wall Street Analyst Weigh In

A number of research firms recently commented on PWR. UBS Group set a $413.00 price objective on shares of Quanta Services and gave the stock a "buy" rating in a report on Thursday, June 12th. Truist Financial reduced their price target on shares of Quanta Services from $398.00 to $324.00 and set a "buy" rating on the stock in a report on Tuesday, April 8th. B. Riley upped their price target on shares of Quanta Services from $300.00 to $355.00 and gave the company a "neutral" rating in a report on Friday, May 2nd. Northland Capmk downgraded shares of Quanta Services from a "strong-buy" rating to a "hold" rating in a report on Wednesday, July 2nd. Finally, The Goldman Sachs Group reaffirmed a "buy" rating and issued a $414.00 price target (up previously from $364.00) on shares of Quanta Services in a report on Wednesday, June 4th. Eight analysts have rated the stock with a hold rating, fourteen have given a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat, Quanta Services currently has a consensus rating of "Moderate Buy" and a consensus target price of $350.95.

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.