Connors Investor Services Inc. Lowers Stock Holdings in Quanta Services, Inc. $PWR

Key Points

• Connors Investor Services Inc. has decreased its holdings in Quanta Services, Inc. by 2.1%, now owning 51,369 shares worth $19,422,000, making it the firm's 15th largest holding.
• Quanta Services reported a quarterly EPS of $2.48, surpassing estimates, with revenue rising to $6.77 billion, a year-over-year increase of 21.1%.
• Quanta Services recently paid a quarterly dividend of $0.10 per share, reflecting a 0.1% yield and a payout ratio of 6.19%.

Connors Investor Services Inc. reduced its position in shares of Quanta Services, Inc. (NYSE:PWR - Free Report) by 2.1% in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 51,369 shares of the construction company's stock after selling 1,076 shares during the period. Quanta Services comprises about 1.7% of Connors Investor Services Inc.'s holdings, making the stock its 15th largest holding. Connors Investor Services Inc.'s holdings in Quanta Services were worth $19,422,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of the stock. Cullen Frost Bankers Inc. acquired a new stake in Quanta Services in the first quarter valued at $25,000. Copia Wealth Management increased its position in shares of Quanta Services by 509.1% during the second quarter. Copia Wealth Management now owns 67 shares of the construction company's stock worth $25,000 after purchasing an additional 56 shares in the last quarter. SOA Wealth Advisors LLC. increased its position in shares of Quanta Services by 159.3% during the second quarter. SOA Wealth Advisors LLC. now owns 70 shares of the construction company's stock worth $26,000 after purchasing an additional 43 shares in the last quarter. WPG Advisers LLC acquired a new position in Quanta Services in the 1st quarter valued at about $31,000. Finally, Ameriflex Group Inc. increased its position in Quanta Services by 93.0% in the 2nd quarter. Ameriflex Group Inc. now owns 83 shares of the construction company's stock valued at $32,000 after acquiring an additional 40 shares during the period. 90.49% of the stock is currently owned by institutional investors and hedge funds.

Quanta Services Price Performance

Shares of NYSE:PWR opened at $412.44 on Thursday. The business's 50 day simple moving average is $399.14 and its 200-day simple moving average is $364.73. The firm has a market capitalization of $61.46 billion, a price-to-earnings ratio of 63.85, a price-to-earnings-growth ratio of 2.59 and a beta of 1.04. 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 $446.60.

Quanta Services (NYSE:PWR - Get Free Report) last announced its quarterly earnings results on Thursday, July 31st. The construction company reported $2.48 EPS for the quarter, topping the consensus estimate of $2.44 by $0.04. Quanta Services had a return on equity of 18.41% and a net margin of 3.73%.The business had revenue of $6.77 billion for the quarter, compared to analyst estimates of $6.55 billion. During the same quarter in the previous year, the company earned $1.90 EPS. The company's quarterly revenue was up 21.1% on a year-over-year basis. Quanta Services has set its FY 2025 guidance at 10.280-10.880 EPS. As a group, 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 paid a $0.10 dividend. The ex-dividend date of this dividend was Wednesday, October 1st. This represents a $0.40 dividend on an annualized basis and a yield of 0.1%. Quanta Services's dividend payout ratio is presently 6.19%.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on PWR. Mizuho began coverage on Quanta Services in a research report on Thursday, September 4th. They issued a "neutral" rating and a $360.00 price target on the stock. Sanford C. Bernstein cut Quanta Services from an "outperform" rating to a "market perform" rating and set a $410.00 price target on the stock. in a research report on Monday, July 28th. Daiwa America cut Quanta Services from a "strong-buy" rating to a "hold" rating in a research report on Friday, August 1st. UBS Group boosted their price target on Quanta Services from $413.00 to $474.00 and gave the company a "buy" rating in a research report on Friday, July 25th. Finally, Weiss Ratings reaffirmed a "buy (b-)" rating on shares of Quanta Services in a report on Wednesday, October 8th. Fourteen analysts have rated the stock with a Buy rating and twelve have given a Hold rating to the company's stock. According to MarketBeat.com, Quanta Services has an average rating of "Moderate Buy" and a consensus price target of $411.59.

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.

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