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

Conning Inc. trimmed its position in Quanta Services, Inc. (NYSE:PWR) by 2.9% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 974 shares of the construction company’s stock after selling 29 shares during the quarter. Conning Inc.’s holdings in Quanta Services were worth $368,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. Cullen Frost Bankers Inc. acquired a new stake in Quanta Services during the 1st quarter worth $25,000. SOA Wealth Advisors LLC. grew its holdings in Quanta Services by 159.3% during the 2nd quarter. SOA Wealth Advisors LLC. now owns 70 shares of the construction company’s stock worth $26,000 after acquiring an additional 43 shares during the period. WPG Advisers LLC acquired a new position in shares of Quanta Services during the 1st quarter worth about $31,000. Ameriflex Group Inc. grew its holdings in Quanta Services by 93.0% during the second quarter. Ameriflex Group Inc. now owns 83 shares of the construction company’s stock valued at $32,000 after purchasing an additional 40 shares during the period. Finally, AlphaQuest LLC acquired a new position in Quanta Services during the first quarter valued at approximately $35,000. Institutional investors and hedge funds own 90.49% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on PWR shares. Weiss Ratings reissued a “buy (b-)” rating on shares of Quanta Services in a report on Wednesday. Sanford C. Bernstein cut Quanta Services from an “outperform” rating to a “market perform” rating and set a $410.00 target price for the company. in a research note on Monday, July 28th. Wall Street Zen lowered Quanta Services from a “buy” rating to a “hold” rating in a research report on Saturday, August 30th. BMO Capital Markets lowered Quanta Services from an “outperform” rating to a “market perform” rating and boosted their price objective for the company from $352.00 to $400.00 in a research report on Thursday, July 17th. Finally, Northland Capmk cut shares of Quanta Services from a “strong-buy” rating to a “hold” rating in a report on Wednesday, July 2nd. Fourteen research analysts have rated the stock with a Buy rating and twelve have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $408.45.

Quanta Services Trading Down 3.0%

NYSE: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 business has a 50 day moving average price of $391.79 and a two-hundred day moving average price of $355.54. The company has a market cap of $62.16 billion, a P/E ratio of 64.57, a price-to-earnings-growth ratio of 2.47 and a beta of 1.04.

Quanta Services (NYSE:PWR) last announced its 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 net margin of 3.73% and a return on equity of 18.41%. The business had revenue of $6.77 billion during the quarter, compared to analysts’ expectations of $6.55 billion. During the same quarter in the prior year, the company posted $1.90 earnings per share. The firm’s 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, analysts expect that Quanta Services, Inc. will post 9.34 EPS for the current fiscal year.

Quanta Services Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, October 10th. Investors of record on Wednesday, October 1st were given 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 is 6.19%.

Quanta Services Company 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.