Connors Investor Services Inc. Has $15.95 Million Stock Holdings in Quanta Services, Inc. (NYSE:PWR)

Connors Investor Services Inc. lessened its holdings in shares of Quanta Services, Inc. (NYSE:PWR - Free Report) by 9.8% in the fourth quarter, according to its most recent filing with the SEC. The firm owned 50,450 shares of the construction company's stock after selling 5,455 shares during the period. Quanta Services accounts for 1.5% of Connors Investor Services Inc.'s portfolio, making the stock its 25th largest position. Connors Investor Services Inc.'s holdings in Quanta Services were worth $15,945,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in PWR. Diamant Asset Management Inc. bought a new stake in Quanta Services in the third quarter valued at about $206,000. Wilmington Savings Fund Society FSB bought a new stake in shares of Quanta Services in the 3rd quarter valued at about $1,058,000. Tidal Investments LLC raised its position in shares of Quanta Services by 10.5% in the 3rd quarter. Tidal Investments LLC now owns 18,779 shares of the construction company's stock valued at $5,597,000 after acquiring an additional 1,781 shares during the period. Synovus Financial Corp boosted its stake in Quanta Services by 34.0% during the 3rd quarter. Synovus Financial Corp now owns 7,206 shares of the construction company's stock worth $2,148,000 after acquiring an additional 1,830 shares during the last quarter. Finally, Old North State Trust LLC grew its holdings in Quanta Services by 7.3% during the third quarter. Old North State Trust LLC now owns 1,459 shares of the construction company's stock valued at $435,000 after purchasing an additional 99 shares during the period. Institutional investors own 90.49% of the company's stock.

Quanta Services Stock Down 0.3 %

Shares of NYSE:PWR traded down $0.89 during midday trading on Friday, hitting $321.04. The stock had a trading volume of 2,062,545 shares, compared to its average volume of 1,651,828. The company has a market cap of $47.60 billion, a P/E ratio of 53.24, a PEG ratio of 1.41 and a beta of 1.04. Quanta Services, Inc. has a 12 month low of $227.08 and a 12 month high of $365.88. The business's 50-day simple moving average is $264.93 and its 200-day simple moving average is $300.35. The company has a quick ratio of 1.19, a current ratio of 1.30 and a debt-to-equity ratio of 0.56.

Quanta Services (NYSE:PWR - Get Free Report) last announced its quarterly earnings data on Thursday, May 1st. The construction company reported $1.78 EPS for the quarter, beating analysts' consensus estimates of $1.72 by $0.06. Quanta Services had a net margin of 3.82% and a return on equity of 18.00%. The company had revenue of $6.23 billion during the quarter, compared to the consensus estimate of $5.88 billion. During the same quarter last year, the firm posted $1.41 EPS. The company's quarterly revenue was up 23.9% on a year-over-year basis. On average, sell-side analysts forecast that Quanta Services, Inc. will post 9.34 earnings per share for the current fiscal year.

Quanta Services Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, April 11th. Stockholders of record on Thursday, April 3rd were given a $0.10 dividend. The ex-dividend date of this dividend was Thursday, April 3rd. This represents a $0.40 dividend on an annualized basis and a dividend yield of 0.12%. Quanta Services's payout ratio is 6.63%.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on PWR. Daiwa Capital Markets lowered shares of Quanta Services from an "outperform" rating to a "neutral" rating in a report on Monday, February 24th. BMO Capital Markets raised Quanta Services from a "market perform" rating to an "outperform" rating and decreased their target price for the company from $338.00 to $316.00 in a research note on Tuesday, February 25th. The Goldman Sachs Group dropped their price target on Quanta Services from $418.00 to $364.00 and set a "buy" rating on the stock in a research report on Thursday, April 24th. Stifel Nicolaus cut their price objective on Quanta Services from $323.00 to $287.00 and set a "buy" rating on the stock in a report on Wednesday, April 9th. Finally, Roth Capital upgraded shares of Quanta Services to a "strong-buy" rating in a report on Thursday, February 20th. Six equities research analysts have rated the stock with a hold rating, fourteen have issued a buy rating and three have assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $330.80.

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.