Alpha Cubed Investments LLC Has $109.14 Million Stock Holdings in Quanta Services, Inc. $PWR

Alpha Cubed Investments LLC decreased its position in Quanta Services, Inc. (NYSE:PWR) by 8.1% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 263,353 shares of the construction company’s stock after selling 23,219 shares during the quarter. Quanta Services accounts for approximately 3.8% of Alpha Cubed Investments LLC’s holdings, making the stock its 9th largest position. Alpha Cubed Investments LLC owned 0.18% of Quanta Services worth $109,139,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in PWR. Norges Bank bought a new stake in Quanta Services during the second quarter valued at $675,802,000. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main boosted its holdings in shares of Quanta Services by 57.2% in the 2nd quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 2,425,436 shares of the construction company’s stock valued at $917,009,000 after buying an additional 882,209 shares during the period. Select Equity Group L.P. grew its position in shares of Quanta Services by 69.3% during the 2nd quarter. Select Equity Group L.P. now owns 1,017,123 shares of the construction company’s stock valued at $384,554,000 after buying an additional 416,395 shares during the last quarter. Vanguard Group Inc. raised its stake in Quanta Services by 1.9% during the second quarter. Vanguard Group Inc. now owns 17,756,682 shares of the construction company’s stock worth $6,713,446,000 after acquiring an additional 339,383 shares during the period. Finally, Allspring Global Investments Holdings LLC lifted its holdings in Quanta Services by 150.6% in the second quarter. Allspring Global Investments Holdings LLC now owns 419,098 shares of the construction company’s stock worth $156,026,000 after acquiring an additional 251,845 shares during the last quarter. 90.49% of the stock is currently owned by institutional investors.

Quanta Services Stock Up 0.3%

Quanta Services stock opened at $482.74 on Friday. Quanta Services, Inc. has a 52 week low of $227.08 and a 52 week high of $489.06. The stock has a market cap of $71.99 billion, a price-to-earnings ratio of 71.52, a PEG ratio of 2.34 and a beta of 1.16. The company’s 50-day moving average price is $447.27 and its two-hundred day moving average price is $421.70. The company has a current ratio of 1.34, a quick ratio of 1.30 and a debt-to-equity ratio of 0.66.

Quanta Services (NYSE:PWR) last posted its quarterly earnings data on Thursday, October 30th. The construction company reported $3.33 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.24 by $0.09. Quanta Services had a net margin of 3.74% and a return on equity of 18.74%. The business had revenue of $7.63 billion during the quarter, compared to analysts’ expectations of $7.41 billion. During the same period last year, the firm posted $2.72 earnings per share. The business’s revenue was up 17.5% on a year-over-year basis. On average, analysts expect that Quanta Services, Inc. will post 9.34 EPS for the current fiscal year.

Analyst Ratings Changes

A number of analysts have recently weighed in on the company. Truist Financial increased their price target on Quanta Services from $472.00 to $521.00 and gave the stock a “buy” rating in a research report on Wednesday, October 8th. Mizuho set a $415.00 target price on Quanta Services in a research report on Tuesday, October 28th. Roth Mkm set a $500.00 price target on shares of Quanta Services and gave the company a “buy” rating in a report on Friday, October 31st. JPMorgan Chase & Co. raised shares of Quanta Services from a “neutral” rating to an “overweight” rating and increased their price objective for the stock from $457.00 to $515.00 in a report on Monday, December 8th. Finally, Weiss Ratings upgraded shares of Quanta Services from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Monday, January 12th. Thirteen analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the stock. Based on data from MarketBeat.com, Quanta Services presently has a consensus rating of “Moderate Buy” and a consensus price target of $462.00.

Insider Transactions at Quanta Services

In other news, Director Worthing Jackman sold 6,349 shares of Quanta Services stock in a transaction on Wednesday, November 5th. The stock was sold at an average price of $450.45, for a total transaction of $2,859,907.05. Following the transaction, the director directly owned 2,730 shares in the company, valued at approximately $1,229,728.50. This trade represents a 69.93% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Gerald A. Ducey, Jr. sold 7,653 shares of the business’s stock in a transaction on Thursday, November 6th. The stock was sold at an average price of $446.08, for a total value of $3,413,850.24. Following the completion of the sale, the insider directly owned 19,960 shares in the company, valued at $8,903,756.80. This represents a 27.72% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders sold 32,002 shares of company stock valued at $14,295,857. Company insiders own 1.10% of the company’s stock.

Quanta Services Company Profile

Quanta Services, Inc is a leading specialty contractor that provides comprehensive infrastructure solutions for the electric power, pipeline and energy, and communications markets. Headquartered in Houston, Texas, the company delivers engineering, procurement, construction, installation, maintenance and repair services that support the development, modernization and ongoing operation of critical energy and communications networks.

In the electric power sector, Quanta works on transmission and distribution systems, substation construction and grid modernization projects that include integration of renewable generation and energy storage.