Connors Investor Services Inc. Reduces Holdings in Quanta Services, Inc. $PWR

Connors Investor Services Inc. lowered its stake in Quanta Services, Inc. (NYSE:PWR) by 7.5% during the third quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 47,519 shares of the construction company’s stock after selling 3,850 shares during the quarter. Quanta Services makes up about 1.7% of Connors Investor Services Inc.’s holdings, making the stock its 13th biggest position. Connors Investor Services Inc.’s holdings in Quanta Services were worth $19,693,000 as of its most recent filing with the SEC.

Several other hedge funds also recently bought and sold shares of PWR. CIBC Private Wealth Group LLC boosted its stake in shares of Quanta Services by 0.5% during the third quarter. CIBC Private Wealth Group LLC now owns 515,568 shares of the construction company’s stock valued at $213,662,000 after acquiring an additional 2,569 shares during the last quarter. CIBC Bancorp USA Inc. acquired a new position in Quanta Services in the 3rd quarter valued at about $8,508,000. Old North State Trust LLC lifted its holdings in Quanta Services by 10.5% in the 3rd quarter. Old North State Trust LLC now owns 2,564 shares of the construction company’s stock valued at $1,063,000 after purchasing an additional 244 shares in the last quarter. Centaurus Financial Inc. lifted its holdings in Quanta Services by 7.0% in the 3rd quarter. Centaurus Financial Inc. now owns 1,602 shares of the construction company’s stock valued at $664,000 after purchasing an additional 105 shares in the last quarter. Finally, First Affirmative Financial Network boosted its stake in shares of Quanta Services by 3.9% during the 3rd quarter. First Affirmative Financial Network now owns 976 shares of the construction company’s stock worth $404,000 after purchasing an additional 37 shares during the last quarter. Hedge funds and other institutional investors own 90.49% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have recently weighed in on PWR shares. UBS Group boosted their price objective on shares of Quanta Services from $518.00 to $646.00 and gave the company a “buy” rating in a research report on Friday, February 20th. Evercore reiterated an “outperform” rating and issued a $604.00 price target on shares of Quanta Services in a report on Friday, February 20th. Argus raised their price objective on Quanta Services from $540.00 to $650.00 and gave the stock a “buy” rating in a report on Tuesday, February 24th. Bank of America lifted their price objective on Quanta Services from $500.00 to $610.00 and gave the company a “buy” rating in a research report on Friday, February 20th. Finally, Mizuho increased their target price on Quanta Services from $424.00 to $537.00 and gave the stock a “neutral” rating in a research report on Tuesday, February 24th. Seventeen investment analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, Quanta Services currently has a consensus rating of “Moderate Buy” and an average target price of $576.55.

Quanta Services Stock Down 0.4%

Shares of PWR opened at $571.87 on Wednesday. Quanta Services, Inc. has a fifty-two week low of $227.08 and a fifty-two week high of $578.40. The company’s fifty day moving average is $509.72 and its two-hundred day moving average is $456.10. The firm has a market cap of $85.56 billion, a PE ratio of 84.10, a price-to-earnings-growth ratio of 2.61 and a beta of 1.10. The company has a quick ratio of 1.09, a current ratio of 1.14 and a debt-to-equity ratio of 0.58.

Quanta Services (NYSE:PWR) last issued its earnings results on Thursday, February 19th. The construction company reported $3.16 earnings per share for the quarter, topping the consensus estimate of $3.02 by $0.14. Quanta Services had a return on equity of 18.10% and a net margin of 3.61%.The business had revenue of $7.84 billion for the quarter, compared to analyst estimates of $7.38 billion. During the same period last year, the company posted $2.94 EPS. The business’s quarterly revenue was up 19.7% on a year-over-year basis. Quanta Services has set its FY 2026 guidance at 12.650-13.350 EPS. Analysts forecast that Quanta Services, Inc. will post 9.34 earnings per share for the current year.

Quanta Services Company Profile

Quanta Services, Inc is a leading specialty contractor that provides comprehensive infrastructure solutions for the electric power, pipeline and energy, and communications markets. Headquartered in Houston, Texas, the company delivers engineering, procurement, construction, installation, maintenance and repair services that support the development, modernization and ongoing operation of critical energy and communications networks.

In the electric power sector, Quanta works on transmission and distribution systems, substation construction and grid modernization projects that include integration of renewable generation and energy storage.