Citizens Financial Group Inc. RI Increases Stake in Quanta Services, Inc. $PWR

Citizens Financial Group Inc. RI lifted its stake in shares of Quanta Services, Inc. (NYSE:PWR) by 35.8% in the second quarter, HoldingsChannel.com reports. The institutional investor owned 59,650 shares of the construction company’s stock after purchasing an additional 15,720 shares during the period. Citizens Financial Group Inc. RI’s holdings in Quanta Services were worth $22,553,000 as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in PWR. Copia Wealth Management increased its position in shares of Quanta Services by 509.1% in the 2nd quarter. Copia Wealth Management now owns 67 shares of the construction company’s stock valued at $25,000 after purchasing an additional 56 shares during the last quarter. SOA Wealth Advisors LLC. grew its stake in shares of Quanta Services by 159.3% during the second quarter. SOA Wealth Advisors LLC. now owns 70 shares of the construction company’s stock worth $26,000 after purchasing an additional 43 shares in the last quarter. Solstein Capital LLC increased its holdings in Quanta Services by 185.7% in the second quarter. Solstein Capital LLC now owns 80 shares of the construction company’s stock valued at $30,000 after buying an additional 52 shares during the last quarter. Ameriflex Group Inc. raised its stake in Quanta Services by 93.0% in the second quarter. Ameriflex Group Inc. now owns 83 shares of the construction company’s stock valued at $32,000 after buying an additional 40 shares in the last quarter. Finally, Legacy Investment Solutions LLC purchased a new stake in Quanta Services during the 2nd quarter worth about $37,000. Institutional investors and hedge funds own 90.49% of the company’s stock.

Quanta Services Stock Performance

NYSE PWR opened at $428.34 on Friday. The firm has a market cap of $63.87 billion, a P/E ratio of 66.31, a P/E/G ratio of 2.66 and a beta of 1.10. Quanta Services, Inc. has a 52-week low of $227.08 and a 52-week high of $469.43. The business’s 50-day moving average price is $421.12 and its 200 day moving average price is $386.84. 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 (NYSE:PWR) last posted 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. The company had revenue of $7.63 billion during the quarter, compared to analysts’ expectations of $7.41 billion. Quanta Services had a return on equity of 18.41% and a net margin of 3.73%.The firm’s revenue for the quarter was up 17.5% on a year-over-year basis. During the same period last year, the firm earned $2.72 EPS. Quanta Services has set its FY 2025 guidance at 10.330-10.830 EPS. On average, equities research analysts expect that Quanta Services, Inc. will post 9.34 earnings per share for the current year.

Quanta Services Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, October 10th. Shareholders of record on Wednesday, October 1st were paid a $0.10 dividend. 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 payout ratio is currently 5.93%.

Insider Activity

In other news, insider Gerald A. Ducey, Jr. sold 7,653 shares of the firm’s stock in a transaction on Thursday, November 6th. The shares were sold at an average price of $446.08, for a total value of $3,413,850.24. Following the completion of the sale, the insider owned 19,960 shares in the company, valued at approximately $8,903,756.80. This trade represents a 27.72% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Donald Wayne sold 14,000 shares of Quanta Services stock in a transaction dated Thursday, November 6th. The shares were sold at an average price of $443.81, for a total transaction of $6,213,340.00. Following the completion of the sale, the executive vice president directly owned 34,575 shares in the company, valued at approximately $15,344,730.75. The trade was a 28.82% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 32,002 shares of company stock worth $14,295,857 in the last 90 days. Corporate insiders own 1.10% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on the company. Jefferies Financial Group raised their target price on Quanta Services from $469.00 to $517.00 and gave the stock a “buy” rating in a research report on Monday, November 3rd. Citigroup raised their price objective on shares of Quanta Services from $517.00 to $526.00 and gave the stock a “buy” rating in a report on Friday, October 31st. DA Davidson boosted their price objective on shares of Quanta Services from $305.00 to $395.00 and gave the stock a “neutral” rating in a research report on Friday, August 1st. Robert W. Baird set a $490.00 target price on shares of Quanta Services in a research report on Friday, October 31st. Finally, TD Cowen boosted their price target on shares of Quanta Services from $355.00 to $425.00 and gave the company a “buy” rating in a research report on Tuesday, August 5th. Twelve research analysts have rated the stock with a Buy rating and thirteen have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, Quanta Services presently has an average rating of “Hold” and an average price target of $438.64.

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.