Canvas Wealth Advisors LLC Sells 195 Shares of Quanta Services, Inc. $PWR

Canvas Wealth Advisors LLC lessened its holdings in Quanta Services, Inc. (NYSE:PWR) by 7.8% during the 2nd quarter, Holdings Channel reports. The firm owned 2,307 shares of the construction company’s stock after selling 195 shares during the period. Canvas Wealth Advisors LLC’s holdings in Quanta Services were worth $950,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Cullen Frost Bankers Inc. bought a new position in Quanta Services during the 1st quarter worth approximately $25,000. Copia Wealth Management boosted its stake in Quanta Services by 509.1% during the 2nd quarter. Copia Wealth Management now owns 67 shares of the construction company’s stock worth $25,000 after acquiring an additional 56 shares during the last quarter. SOA Wealth Advisors LLC. boosted its stake 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 last quarter. WPG Advisers LLC bought a new position in Quanta Services during the 1st quarter worth approximately $31,000. Finally, Ameriflex Group Inc. boosted its stake in Quanta Services by 93.0% during the 2nd quarter. Ameriflex Group Inc. now owns 83 shares of the construction company’s stock worth $32,000 after acquiring an additional 40 shares during the last quarter. Institutional investors own 90.49% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on PWR. BMO Capital Markets lowered shares of Quanta Services from an “outperform” rating to a “market perform” rating and lifted their price objective for the stock from $352.00 to $400.00 in a research note on Thursday, July 17th. Evercore ISI lifted their price target on shares of Quanta Services from $360.00 to $410.00 and gave the company an “outperform” rating in a research note on Friday, August 8th. UBS Group lifted their price target on shares of Quanta Services from $413.00 to $474.00 and gave the company a “buy” rating in a research note on Friday, July 25th. Citigroup lifted their price target on shares of Quanta Services from $432.00 to $492.00 and gave the company a “buy” rating in a research note on Monday, July 28th. Finally, Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Quanta Services in a research note on Wednesday, October 8th. Fourteen investment analysts have rated the stock with a Buy rating and twelve have assigned a Hold rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $410.45.

Quanta Services Price Performance

NYSE PWR opened at $434.65 on Monday. The company has a quick ratio of 1.32, a current ratio of 1.37 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 $446.60. The company has a market capitalization of $64.77 billion, a PE ratio of 67.28, a price-to-earnings-growth ratio of 2.57 and a beta of 1.04. The firm’s 50 day moving average is $396.43 and its 200-day moving average is $362.48.

Quanta Services (NYSE:PWR) last posted its quarterly earnings data on Thursday, July 31st. The construction company reported $2.48 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 for the quarter, compared to the consensus estimate of $6.55 billion. During the same period last year, the company earned $1.90 earnings per share. The firm’s revenue 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. 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. Stockholders of record on Wednesday, October 1st were issued a $0.10 dividend. The ex-dividend date was Wednesday, October 1st. This represents a $0.40 dividend on an annualized basis and a dividend yield of 0.1%. Quanta Services’s dividend payout ratio (DPR) 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.