Quanta Services, Inc. (NYSE:PWR) Shares Purchased by Citizens Financial Group Inc. RI

Citizens Financial Group Inc. RI boosted its holdings in shares of Quanta Services, Inc. (NYSE:PWR) by 7.9% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 35,207 shares of the construction company’s stock after buying an additional 2,584 shares during the period. Citizens Financial Group Inc. RI’s holdings in Quanta Services were worth $10,497,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. EntryPoint Capital LLC acquired a new position in shares of Quanta Services during the first quarter valued at about $25,000. Cambridge Trust Co. acquired a new position in Quanta Services during the 1st quarter valued at approximately $26,000. Valley Wealth Managers Inc. purchased a new position in shares of Quanta Services in the second quarter worth $33,000. Quest Partners LLC acquired a new stake in shares of Quanta Services during the second quarter worth $35,000. Finally, CarsonAllaria Wealth Management Ltd. purchased a new stake in shares of Quanta Services during the second quarter valued at $38,000. 90.49% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities analysts recently issued reports on the company. Truist Financial raised their target price on Quanta Services from $319.00 to $358.00 and gave the stock a “buy” rating in a research note on Wednesday, October 9th. Robert W. Baird lifted their target price on Quanta Services from $320.00 to $333.00 and gave the stock an “outperform” rating in a report on Friday, November 1st. Stifel Nicolaus increased their price target on shares of Quanta Services from $283.00 to $342.00 and gave the stock a “buy” rating in a report on Thursday, October 10th. TD Cowen raised their price target on shares of Quanta Services from $280.00 to $335.00 and gave the stock a “buy” rating in a research report on Tuesday, October 15th. Finally, Citigroup upped their price objective on shares of Quanta Services from $302.00 to $348.00 and gave the company a “buy” rating in a report on Friday, October 4th. Four investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $314.27.

Quanta Services Stock Performance

NYSE PWR opened at $332.36 on Thursday. The stock has a market capitalization of $49.06 billion, a price-to-earnings ratio of 61.32 and a beta of 1.01. The stock has a 50-day moving average of $306.37 and a 200 day moving average of $279.24. The company has a current ratio of 1.23, a quick ratio of 1.19 and a debt-to-equity ratio of 0.58. Quanta Services, Inc. has a twelve month low of $180.97 and a twelve month high of $335.00.

Quanta Services (NYSE:PWR) last announced its earnings results on Thursday, October 31st. The construction company reported $2.72 earnings per share for the quarter, topping the consensus estimate of $2.46 by $0.26. The business had revenue of $6.49 billion during the quarter, compared to the consensus estimate of $6.56 billion. Quanta Services had a return on equity of 16.71% and a net margin of 3.54%. The business’s quarterly revenue was up 15.5% on a year-over-year basis. During the same period in the prior year, the company posted $2.08 EPS. Sell-side analysts anticipate that Quanta Services, Inc. will post 7.88 EPS for the current fiscal year.

Quanta Services Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, October 11th. Stockholders of record on Tuesday, October 1st were paid a dividend of $0.09 per share. The ex-dividend date was Tuesday, October 1st. This represents a $0.36 dividend on an annualized basis and a dividend yield of 0.11%. Quanta Services’s dividend payout ratio is currently 6.64%.

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.