Alpha Cubed Investments LLC Acquires 80,290 Shares of Quanta Services, Inc. (NYSE:PWR)

Alpha Cubed Investments LLC grew its position in shares of Quanta Services, Inc. (NYSE:PWR) by 137.6% in the 4th quarter, Holdings Channel reports. The firm owned 138,660 shares of the construction company’s stock after acquiring an additional 80,290 shares during the quarter. Quanta Services accounts for about 1.7% of Alpha Cubed Investments LLC’s portfolio, making the stock its 18th largest holding. Alpha Cubed Investments LLC’s holdings in Quanta Services were worth $29,923,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently added to or reduced their stakes in PWR. AE Wealth Management LLC increased its stake in shares of Quanta Services by 22.0% in the 3rd quarter. AE Wealth Management LLC now owns 1,593 shares of the construction company’s stock valued at $298,000 after acquiring an additional 287 shares in the last quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund increased its stake in shares of Quanta Services by 9.8% in the 3rd quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 29,150 shares of the construction company’s stock valued at $5,453,000 after acquiring an additional 2,600 shares in the last quarter. Aquila Investment Management LLC increased its stake in shares of Quanta Services by 25.0% in the 3rd quarter. Aquila Investment Management LLC now owns 5,000 shares of the construction company’s stock valued at $935,000 after acquiring an additional 1,000 shares in the last quarter. Cambridge Investment Research Advisors Inc. increased its stake in shares of Quanta Services by 86.8% in the 3rd quarter. Cambridge Investment Research Advisors Inc. now owns 30,646 shares of the construction company’s stock valued at $5,733,000 after acquiring an additional 14,241 shares in the last quarter. Finally, Xponance Inc. increased its stake in shares of Quanta Services by 1.7% in the 3rd quarter. Xponance Inc. now owns 21,699 shares of the construction company’s stock valued at $4,059,000 after acquiring an additional 366 shares in the last quarter. Institutional investors own 90.49% of the company’s stock.

Insider Buying and Selling

In related news, EVP Derrick A. Jensen sold 18,500 shares of the business’s stock in a transaction dated Tuesday, February 27th. The stock was sold at an average price of $236.90, for a total value of $4,382,650.00. Following the sale, the executive vice president now directly owns 263,725 shares in the company, valued at approximately $62,476,452.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In related news, EVP Derrick A. Jensen sold 18,500 shares of the business’s stock in a transaction dated Tuesday, February 27th. The stock was sold at an average price of $236.90, for a total value of $4,382,650.00. Following the sale, the executive vice president now directly owns 263,725 shares in the company, valued at approximately $62,476,452.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Worthing Jackman sold 9,572 shares of the business’s stock in a transaction dated Wednesday, February 28th. The shares were sold at an average price of $237.31, for a total value of $2,271,531.32. Following the completion of the sale, the director now owns 7,486 shares in the company, valued at $1,776,502.66. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 47,125 shares of company stock valued at $11,270,215. 1.10% of the stock is owned by insiders.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on PWR shares. Citigroup lifted their price objective on shares of Quanta Services from $275.00 to $285.00 and gave the company a “buy” rating in a research note on Monday, April 22nd. DA Davidson lifted their price target on shares of Quanta Services from $190.00 to $225.00 and gave the company a “neutral” rating in a research report on Wednesday, February 28th. Evercore ISI assumed coverage on shares of Quanta Services in a research report on Tuesday, February 13th. They issued an “outperform” rating and a $237.00 price target for the company. The Goldman Sachs Group lifted their price target on shares of Quanta Services from $227.00 to $259.00 and gave the company a “buy” rating in a research report on Monday, February 26th. Finally, Stifel Nicolaus lifted their price target on shares of Quanta Services from $237.00 to $252.00 and gave the company a “buy” rating in a research report on Friday, February 23rd. Three analysts have rated the stock with a hold rating and nine have given a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $247.67.

Quanta Services Stock Down 1.4 %

PWR traded down $3.80 during mid-day trading on Tuesday, reaching $258.54. 1,066,476 shares of the stock were exchanged, compared to its average volume of 925,198. The company has a 50 day moving average price of $247.93 and a two-hundred day moving average price of $212.69. The company has a debt-to-equity ratio of 0.58, a quick ratio of 1.44 and a current ratio of 1.47. The stock has a market capitalization of $37.85 billion, a PE ratio of 52.36 and a beta of 1.11. Quanta Services, Inc. has a 1 year low of $153.74 and a 1 year high of $265.82.

Quanta Services (NYSE:PWR) last issued its quarterly earnings results on Thursday, February 22nd. The construction company reported $2.04 earnings per share for the quarter, topping analysts’ consensus estimates of $1.83 by $0.21. The company had revenue of $5.78 billion for the quarter, compared to the consensus estimate of $5.19 billion. Quanta Services had a net margin of 3.57% and a return on equity of 16.46%. The firm’s quarterly revenue was up 31.0% on a year-over-year basis. During the same period in the previous year, the firm earned $1.54 EPS. As a group, research analysts anticipate that Quanta Services, Inc. will post 7.63 EPS for the current year.

Quanta Services Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, April 17th. Investors of record on Tuesday, April 9th were issued a $0.09 dividend. This represents a $0.36 dividend on an annualized basis and a dividend yield of 0.14%. The ex-dividend date of this dividend was Monday, April 8th. Quanta Services’s dividend payout ratio (DPR) is currently 7.19%.

Quanta Services Company 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.