Quanta Services, Inc. (NYSE:PWR) Stake Raised by Alpha Cubed Investments LLC

Alpha Cubed Investments LLC increased its position in shares of Quanta Services, Inc. (NYSE:PWR - Free Report) by 26.2% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 237,680 shares of the construction company's stock after buying an additional 49,347 shares during the period. Quanta Services comprises approximately 2.7% of Alpha Cubed Investments LLC's holdings, 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 have also added to or reduced their stakes in the business. Banque Transatlantique SA purchased a new position in Quanta Services in the fourth quarter valued at about $25,000. Quarry LP acquired a new position in Quanta Services during the 4th quarter valued at about $26,000. Rakuten Securities Inc. grew its position in 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 during the last quarter. OLD Second National Bank of Aurora purchased a new stake in shares of Quanta Services during the first quarter valued at $42,000. Finally, Sound Income Strategies LLC grew its stake in Quanta Services by 77.9% during the 1st quarter. Sound Income Strategies LLC now owns 185 shares of the construction company's stock valued at $47,000 after purchasing an additional 81 shares during the last quarter. Hedge funds and other institutional investors own 90.49% of the company's stock.

Analyst Ratings Changes

Several analysts have recently commented on the stock. Citigroup dropped their price objective on shares of Quanta Services from $366.00 to $342.00 and set a "buy" rating on the stock in a report on Friday, April 25th. Stifel Nicolaus increased their target price on Quanta Services from $306.00 to $363.00 and gave the company a "buy" rating in a research report on Monday, May 5th. BMO Capital Markets set a $352.00 price target on shares of Quanta Services in a research note on Friday, May 2nd. Wall Street Zen upgraded shares of Quanta Services from a "hold" rating to a "buy" rating in a research report on Friday, June 27th. Finally, Argus set a $375.00 price objective on Quanta Services in a research note on Monday, May 5th. Eight equities research 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 company's stock. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $350.95.

Quanta Services Stock Down 0.5%

Shares of PWR traded down $2.06 during mid-day trading on Thursday, reaching $380.06. The company's stock had a trading volume of 972,128 shares, compared to its average volume of 1,465,772. The company's 50 day moving average is $352.83 and its 200 day moving average is $309.79. The stock has a market cap of $56.35 billion, a PE ratio of 61.30, a price-to-earnings-growth ratio of 2.94 and a beta of 1.08. Quanta Services, Inc. has a 12-month low of $227.08 and a 12-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.

Quanta Services (NYSE:PWR - Get Free Report) last issued its quarterly earnings data on Thursday, May 1st. The construction company reported $1.78 earnings per share (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 company had revenue of $6.23 billion for the quarter, compared to the consensus estimate of $5.88 billion. During the same period last year, the firm posted $1.41 EPS. Quanta Services's revenue for the quarter was up 23.9% on a year-over-year basis. Equities analysts anticipate that Quanta Services, Inc. will post 9.34 EPS for the current fiscal year.

Quanta Services Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, July 11th. Investors of record on Tuesday, July 1st will be paid a $0.10 dividend. The ex-dividend date of this dividend is Tuesday, July 1st. This represents a $0.40 dividend on an annualized basis and a dividend yield of 0.11%. 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.