Quanta Services, Inc. $PWR Shares Bought by Connor Clark & Lunn Investment Management Ltd.

Connor Clark & Lunn Investment Management Ltd. grew its holdings in Quanta Services, Inc. (NYSE:PWR) by 65.1% in the 2nd quarter, Holdings Channel.com reports. The fund owned 109,807 shares of the construction company’s stock after buying an additional 43,309 shares during the period. Connor Clark & Lunn Investment Management Ltd.’s holdings in Quanta Services were worth $41,516,000 as of its most recent SEC filing.

Several other hedge funds have also recently modified their holdings of the stock. Old Port Advisors grew its position in Quanta Services by 0.7% during the 2nd quarter. Old Port Advisors now owns 3,944 shares of the construction company’s stock worth $1,491,000 after purchasing an additional 26 shares during the last quarter. Ashton Thomas Private Wealth LLC lifted its stake in shares of Quanta Services by 1.2% during the second quarter. Ashton Thomas Private Wealth LLC now owns 2,250 shares of the construction company’s stock worth $851,000 after buying an additional 26 shares during the period. Pinnacle Wealth Planning Services Inc. grew its holdings in shares of Quanta Services by 3.5% during the first quarter. Pinnacle Wealth Planning Services Inc. now owns 951 shares of the construction company’s stock valued at $242,000 after buying an additional 32 shares during the last quarter. Frank Rimerman Advisors LLC increased its position in shares of Quanta Services by 1.1% in the 1st quarter. Frank Rimerman Advisors LLC now owns 3,114 shares of the construction company’s stock valued at $792,000 after acquiring an additional 34 shares during the period. Finally, Eastern Bank raised its stake in Quanta Services by 23.5% in the 2nd quarter. Eastern Bank now owns 184 shares of the construction company’s stock worth $70,000 after acquiring an additional 35 shares during the last quarter. Institutional investors and hedge funds own 90.49% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on PWR. Daiwa America lowered Quanta Services from a “strong-buy” rating to a “hold” rating in a report on Friday, August 1st. Argus set a $540.00 target price on Quanta Services in a research report on Friday, October 31st. BMO Capital Markets cut shares of Quanta Services from an “outperform” rating to a “market perform” rating and lifted their price objective for the company from $352.00 to $400.00 in a research note on Thursday, July 17th. Truist Financial raised their target price on shares of Quanta Services from $472.00 to $521.00 and gave the stock a “buy” rating in a report on Wednesday, October 8th. Finally, Mizuho set a $415.00 price target on shares of Quanta Services in a report on Tuesday, October 28th. Twelve analysts have rated the stock with a Buy rating and thirteen have issued a Hold rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $438.64.

Insider Buying and Selling

In other Quanta Services news, Director Bernard Fried sold 4,000 shares of the firm’s stock in a transaction on Monday, November 3rd. The stock was sold at an average price of $452.19, for a total value of $1,808,760.00. Following the transaction, the director owned 12,493 shares in the company, valued at approximately $5,649,209.67. This trade represents a 24.25% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, 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 sale, 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 SEC filing for this sale provides additional information. 1.10% of the stock is owned by corporate insiders.

Quanta Services Trading Up 0.5%

PWR stock opened at $445.32 on Monday. Quanta Services, Inc. has a 52-week low of $227.08 and a 52-week high of $469.43. 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 firm has a market cap of $66.40 billion, a P/E ratio of 68.93, a PEG ratio of 2.66 and a beta of 1.10. The company’s 50-day simple moving average is $414.54 and its 200-day simple moving average is $382.17.

Quanta Services (NYSE:PWR) last released its quarterly earnings results on Thursday, October 30th. The construction company reported $3.33 earnings per share for the quarter, topping analysts’ consensus estimates of $3.24 by $0.09. Quanta Services had a return on equity of 18.41% and a net margin of 3.73%.The company had revenue of $7.63 billion during the quarter, compared to analysts’ expectations of $7.41 billion. During the same quarter in the prior year, the firm posted $2.72 EPS. Quanta Services’s quarterly revenue was up 17.5% compared to the same quarter last year. Quanta Services has set its FY 2025 guidance at 10.330-10.830 EPS. As a group, equities analysts forecast that Quanta Services, Inc. will post 9.34 EPS for the current fiscal year.

Quanta Services Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, October 10th. Investors of record on Wednesday, October 1st were issued a $0.10 dividend. This represents a $0.40 annualized dividend and a yield of 0.1%. The ex-dividend date was Wednesday, October 1st. Quanta Services’s payout ratio is presently 5.93%.

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.