Conning Inc. Has $368,000 Position in Quanta Services, Inc. $PWR

Conning Inc. reduced its position in Quanta Services, Inc. (NYSE:PWR) by 2.9% in the 2nd quarter, according to its most recent filing with the SEC. The fund owned 974 shares of the construction company’s stock after selling 29 shares during the period. Conning Inc.’s holdings in Quanta Services were worth $368,000 as of its most recent filing with the SEC.

Several other hedge funds have also bought and sold shares of the company. Trust Co. of Toledo NA OH acquired a new stake in Quanta Services in the 2nd quarter valued at about $212,000. Drucker Wealth 3.0 LLC acquired a new stake in shares of Quanta Services in the second quarter valued at approximately $229,000. Eastern Bank lifted its position in shares of Quanta Services by 23.5% in the second quarter. Eastern Bank now owns 184 shares of the construction company’s stock valued at $70,000 after buying an additional 35 shares during the last quarter. Aberdeen Group plc lifted its stake in shares of Quanta Services by 5.9% during the 2nd quarter. Aberdeen Group plc now owns 112,162 shares of the construction company’s stock worth $42,633,000 after buying an additional 6,204 shares during the last quarter. Finally, Strong Tower Advisory Services lifted its stake in shares of Quanta Services by 0.6% during the 2nd quarter. Strong Tower Advisory Services now owns 26,742 shares of the construction company’s stock worth $10,111,000 after buying an additional 169 shares during the last quarter. 90.49% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

PWR has been the subject of several research reports. TD Cowen raised their price objective on shares of Quanta Services from $355.00 to $425.00 and gave the stock a “buy” rating in a research report on Tuesday, August 5th. Northland Securities cut Quanta Services from an “outperform” rating to a “market perform” rating and set a $354.00 price target for the company. in a report on Wednesday, July 2nd. Evercore ISI lifted their price target on Quanta Services from $360.00 to $410.00 and gave the stock an “outperform” rating in a report on Friday, August 8th. Mizuho initiated coverage on Quanta Services in a report on Thursday, September 4th. They set a “neutral” rating and a $360.00 target price for the company. Finally, DA Davidson lifted their price target on shares of Quanta Services from $305.00 to $395.00 and gave the company a “neutral” rating in a research report on Friday, August 1st. Fourteen equities research analysts have rated the stock with a Buy rating and twelve have given a Hold rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $408.45.

Quanta Services Trading Down 3.0%

PWR opened at $417.15 on Friday. Quanta Services, Inc. has a twelve month low of $227.08 and a twelve month high of $443.97. The company has a quick ratio of 1.32, a current ratio of 1.37 and a debt-to-equity ratio of 0.59. The company has a fifty day moving average of $391.79 and a 200-day moving average of $355.54. The stock has a market cap of $62.16 billion, a PE ratio of 64.57, a price-to-earnings-growth ratio of 2.47 and a beta of 1.04.

Quanta Services (NYSE:PWR) last posted its quarterly earnings data on Thursday, July 31st. The construction company reported $2.48 earnings per share for the quarter, topping the consensus estimate of $2.44 by $0.04. Quanta Services had a net margin of 3.73% and a return on equity of 18.41%. The company had revenue of $6.77 billion during the quarter, compared to analysts’ expectations of $6.55 billion. During the same period in the prior year, the company posted $1.90 earnings per share. Quanta Services’s revenue for the quarter was up 21.1% compared to the same quarter last year. Quanta Services has set its FY 2025 guidance at 10.280-10.880 EPS. On average, sell-side analysts predict that Quanta Services, Inc. will post 9.34 EPS for the current year.

Quanta Services Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, October 10th. Investors of record on Wednesday, October 1st were paid a dividend of $0.10 per share. The ex-dividend date of this dividend was Wednesday, October 1st. This represents a $0.40 annualized dividend and a yield of 0.1%. Quanta Services’s dividend payout ratio (DPR) is currently 6.19%.

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.