Nova Wealth Management Inc. Reduces Stock Position in Quanta Services, Inc. $PWR

Nova Wealth Management Inc. reduced its position in shares of Quanta Services, Inc. (NYSE:PWR) by 38.5% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 374 shares of the construction company’s stock after selling 234 shares during the period. Nova Wealth Management Inc.’s holdings in Quanta Services were worth $95,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. Cullen Frost Bankers Inc. purchased a new stake in Quanta Services in the first quarter worth about $25,000. WPG Advisers LLC purchased a new stake in Quanta Services in the first quarter worth about $31,000. AlphaQuest LLC purchased a new stake in Quanta Services in the first quarter worth about $35,000. Zions Bancorporation National Association UT purchased a new stake in Quanta Services in the first quarter worth about $40,000. Finally, OLD Second National Bank of Aurora purchased a new stake in Quanta Services in the first quarter worth about $42,000. 90.49% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several brokerages have commented on PWR. Mizuho began coverage on shares of Quanta Services in a report on Thursday, September 4th. They issued a “neutral” rating and a $360.00 price objective for the company. Roth Capital restated a “buy” rating and issued a $450.00 price objective (up from $350.00) on shares of Quanta Services in a report on Tuesday, July 29th. Evercore ISI raised their target price 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. TD Cowen raised their target price on shares of Quanta Services from $355.00 to $425.00 and gave the company a “buy” rating in a research note on Tuesday, August 5th. Finally, Stifel Nicolaus raised their target price on shares of Quanta Services from $411.00 to $432.00 and gave the company a “buy” rating in a research note on Monday, August 4th. Thirteen analysts have rated the stock with a Buy rating and twelve have issued a Hold rating to the stock. According to data from MarketBeat, Quanta Services has a consensus rating of “Moderate Buy” and an average target price of $397.18.

Quanta Services Price Performance

Shares of PWR opened at $382.50 on Friday. The company has a market capitalization of $57.00 billion, a P/E ratio of 59.21, a price-to-earnings-growth ratio of 2.31 and a beta of 1.01. 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 50 day moving average of $387.66 and a 200 day moving average of $334.36. Quanta Services, Inc. has a twelve month low of $227.08 and a twelve month high of $424.94.

Quanta Services (NYSE:PWR) last announced its quarterly earnings results on Thursday, July 31st. The construction company reported $2.48 earnings per share for the quarter, beating the consensus estimate of $2.44 by $0.04. The company had revenue of $6.77 billion during the quarter, compared to the consensus estimate of $6.55 billion. Quanta Services had a net margin of 3.73% and a return on equity of 18.41%. The firm’s quarterly revenue was up 21.1% compared to the same quarter last year. During the same quarter last year, the firm earned $1.90 earnings per share. Quanta Services has set its FY 2025 guidance at 10.280-10.880 EPS. As a group, equities research analysts anticipate that Quanta Services, Inc. will post 9.34 earnings per share for the current fiscal year.

Quanta Services Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, October 10th. Shareholders of record on Wednesday, October 1st will be paid a dividend of $0.10 per share. The ex-dividend date is Wednesday, October 1st. This represents a $0.40 dividend on an annualized basis and a yield of 0.1%. Quanta Services’s payout ratio is currently 6.19%.

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.