Connor Clark & Lunn Investment Management Ltd. Raises Stock Position in Quanta Services, Inc. $PWR

Connor Clark & Lunn Investment Management Ltd. lifted its holdings in Quanta Services, Inc. (NYSE:PWR) by 65.1% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 109,807 shares of the construction company’s stock after acquiring an additional 43,309 shares during the period. Connor Clark & Lunn Investment Management Ltd. owned 0.07% of Quanta Services worth $41,516,000 at the end of the most recent quarter.

Other large investors also recently added to or reduced their stakes in the company. Vanguard Group Inc. lifted its stake in shares of Quanta Services by 2.4% in the 1st quarter. Vanguard Group Inc. now owns 17,417,299 shares of the construction company’s stock valued at $4,427,129,000 after purchasing an additional 407,878 shares during the last quarter. Kingstone Capital Partners Texas LLC bought a new stake in Quanta Services in the second quarter worth $650,960,000. Nuveen LLC purchased a new position in Quanta Services during the first quarter worth $404,288,000. Northern Trust Corp increased its position in Quanta Services by 3.8% during the first quarter. Northern Trust Corp now owns 1,545,514 shares of the construction company’s stock valued at $392,839,000 after acquiring an additional 56,081 shares during the last quarter. Finally, Amundi raised its stake in shares of Quanta Services by 188.3% in the first quarter. Amundi now owns 1,206,577 shares of the construction company’s stock valued at $304,139,000 after acquiring an additional 788,079 shares during the period. 90.49% of the stock is owned by institutional investors.

Insiders Place Their Bets

In related news, Director Worthing Jackman sold 6,349 shares of the firm’s stock in a transaction dated 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 owned 2,730 shares of the company’s stock, valued at $1,229,728.50. This trade represents a 69.93% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Bernard Fried sold 4,000 shares of the business’s stock in a transaction dated Monday, November 3rd. The stock was sold at an average price of $452.19, for a total transaction of $1,808,760.00. Following the completion of the transaction, the director owned 12,493 shares of the company’s stock, valued at $5,649,209.67. This represents a 24.25% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 1.10% of the stock is owned by corporate insiders.

Quanta Services Price Performance

PWR opened at $445.32 on Monday. The company has a market capitalization of $66.40 billion, a price-to-earnings ratio of 68.93, a PEG ratio of 2.66 and a beta of 1.10. The company has a current ratio of 1.37, a quick ratio of 1.32 and a debt-to-equity ratio of 0.59. Quanta Services, Inc. has a 12-month low of $227.08 and a 12-month high of $469.43. The business’s fifty 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 data 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 net margin of 3.73% and a return on equity of 18.41%. The company had revenue of $7.63 billion during the quarter, compared to analyst estimates of $7.41 billion. During the same period in the prior year, the firm earned $2.72 earnings per share. The firm’s revenue for the quarter 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. On average, equities research analysts anticipate that Quanta Services, Inc. will post 9.34 earnings per share for the current fiscal year.

Quanta Services Dividend Announcement

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

Wall Street Analysts Forecast Growth

PWR has been the subject of a number of recent analyst reports. JPMorgan Chase & Co. lifted their price target on shares of Quanta Services from $436.00 to $457.00 and gave the stock a “neutral” rating in a research note on Friday, October 31st. Mizuho set a $415.00 target price on Quanta Services in a research note on Tuesday, October 28th. Sanford C. Bernstein downgraded Quanta Services from an “outperform” rating to a “market perform” rating and set a $410.00 price target on the stock. in a report on Monday, July 28th. Wall Street Zen downgraded Quanta Services from a “buy” rating to a “hold” rating in a research report on Saturday, August 30th. Finally, Stifel Nicolaus set a $495.00 target price on Quanta Services in a research report on Monday, November 3rd. Twelve investment analysts have rated the stock with a Buy rating and thirteen have given a Hold rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $438.64.

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.