Alpha Cubed Investments LLC Raises Holdings in Quanta Services, Inc. $PWR

Alpha Cubed Investments LLC grew its position in Quanta Services, Inc. (NYSE:PWR) by 20.6% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 286,572 shares of the construction company’s stock after purchasing an additional 48,892 shares during the period. Quanta Services makes up approximately 4.1% of Alpha Cubed Investments LLC’s holdings, making the stock its 5th biggest position. Alpha Cubed Investments LLC owned 0.19% of Quanta Services worth $108,347,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. Brighton Jones LLC bought a new position in shares of Quanta Services during the 4th quarter valued at about $298,000. Envestnet Asset Management Inc. increased its stake in Quanta Services by 8.1% in the 1st quarter. Envestnet Asset Management Inc. now owns 201,838 shares of the construction company’s stock valued at $51,303,000 after buying an additional 15,145 shares during the period. Cerity Partners LLC raised its holdings in shares of Quanta Services by 1.2% during the first quarter. Cerity Partners LLC now owns 138,327 shares of the construction company’s stock worth $35,160,000 after acquiring an additional 1,575 shares in the last quarter. Xponance Inc. boosted its stake in shares of Quanta Services by 1.9% during the 1st quarter. Xponance Inc. now owns 25,228 shares of the construction company’s stock worth $6,412,000 after acquiring an additional 476 shares in the last quarter. Finally, Fortem Financial Group LLC raised its position in shares of Quanta Services by 64.3% in the first quarter. Fortem Financial Group LLC now owns 1,316 shares of the construction company’s stock valued at $335,000 after purchasing an additional 515 shares during the period. Institutional investors own 90.49% of the company’s stock.

Insider Activity at Quanta Services

In other Quanta Services news, Director Bernard Fried sold 4,000 shares of the stock in a transaction on Monday, November 3rd. The stock was sold at an average price of $452.19, for a total transaction of $1,808,760.00. Following the completion of the transaction, the director directly owned 12,493 shares of the company’s stock, valued at approximately $5,649,209.67. This trade represents a 24.25% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Worthing Jackman sold 6,349 shares of the stock in a transaction on Wednesday, November 5th. The shares were sold at an average price of $450.45, for a total value of $2,859,907.05. Following the sale, the director owned 2,730 shares of the company’s stock, valued at $1,229,728.50. This trade represents a 69.93% decrease in their position. The disclosure for this sale is available in the SEC filing. Company insiders own 1.10% of the company’s stock.

Quanta Services Trading Up 0.5%

Shares of PWR opened at $445.32 on Monday. The stock’s 50-day moving average is $414.54 and its two-hundred day moving average is $382.17. The stock has a market cap of $66.40 billion, a PE ratio of 68.93, a P/E/G ratio of 2.66 and a beta of 1.10. The company has a debt-to-equity ratio of 0.59, a current ratio of 1.37 and a quick ratio of 1.32. Quanta Services, Inc. has a 12 month low of $227.08 and a 12 month high of $469.43.

Quanta Services (NYSE:PWR) last announced its earnings results on Thursday, October 30th. The construction company reported $3.33 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.24 by $0.09. Quanta Services had a return on equity of 18.41% and a net margin of 3.73%.The company had revenue of $7.63 billion for the quarter, compared to analyst estimates of $7.41 billion. During the same period in the prior year, the company posted $2.72 EPS. Quanta Services’s quarterly revenue was up 17.5% on a year-over-year basis. Quanta Services has set its FY 2025 guidance at 10.330-10.830 EPS. Equities analysts forecast that Quanta Services, Inc. will post 9.34 earnings per share for the current fiscal year.

Quanta Services Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, October 10th. Investors of record on Wednesday, October 1st were given a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a yield of 0.1%. The ex-dividend date was Wednesday, October 1st. Quanta Services’s dividend payout ratio is currently 5.93%.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on PWR shares. UBS Group lifted their target price on Quanta Services from $413.00 to $474.00 and gave the stock a “buy” rating in a research report on Friday, July 25th. Citigroup upped their price objective on Quanta Services from $517.00 to $526.00 and gave the company a “buy” rating in a report on Friday, October 31st. Argus set a $540.00 target price on Quanta Services in a research note on Friday, October 31st. Robert W. Baird set a $490.00 price target on Quanta Services in a research report on Friday, October 31st. Finally, JPMorgan Chase & Co. raised their price objective on Quanta Services from $436.00 to $457.00 and gave the company a “neutral” rating in a report on Friday, October 31st. Twelve research analysts have rated the stock with a Buy rating and thirteen have issued a Hold rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $438.64.

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.