Citizens Financial Group Inc. RI Raises Holdings in Quanta Services, Inc. (NYSE:PWR)

Citizens Financial Group Inc. RI grew its holdings in shares of Quanta Services, Inc. (NYSE:PWR) by 7.9% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 35,207 shares of the construction company’s stock after purchasing an additional 2,584 shares during the quarter. Citizens Financial Group Inc. RI’s holdings in Quanta Services were worth $10,497,000 at the end of the most recent quarter.

A number of other large investors have also modified their holdings of the business. Electron Capital Partners LLC grew its stake in Quanta Services by 395.1% during the 2nd quarter. Electron Capital Partners LLC now owns 2,622,142 shares of the construction company’s stock valued at $666,260,000 after acquiring an additional 2,092,519 shares in the last quarter. Swedbank AB acquired a new stake in shares of Quanta Services in the first quarter valued at approximately $227,218,000. American Century Companies Inc. boosted its stake in Quanta Services by 1,445.3% during the second quarter. American Century Companies Inc. now owns 395,152 shares of the construction company’s stock worth $100,404,000 after buying an additional 369,581 shares during the last quarter. Massachusetts Financial Services Co. MA boosted its position in shares of Quanta Services by 17.8% during the 2nd quarter. Massachusetts Financial Services Co. MA now owns 1,235,655 shares of the construction company’s stock valued at $313,968,000 after acquiring an additional 186,306 shares during the last quarter. Finally, National Bank of Canada FI boosted its holdings in Quanta Services by 297.3% in the 2nd quarter. National Bank of Canada FI now owns 215,914 shares of the construction company’s stock valued at $53,455,000 after purchasing an additional 161,574 shares during the last quarter. Hedge funds and other institutional investors own 90.49% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have recently commented on the stock. UBS Group lifted their price target on shares of Quanta Services from $313.00 to $367.00 and gave the company a “buy” rating in a research report on Wednesday, October 23rd. Citigroup increased their price target on Quanta Services from $302.00 to $348.00 and gave the stock a “buy” rating in a report on Friday, October 4th. Wolfe Research initiated coverage on shares of Quanta Services in a research report on Thursday, September 19th. They set an “outperform” rating and a $313.00 price target for the company. Stifel Nicolaus lifted their target price on shares of Quanta Services from $283.00 to $342.00 and gave the company a “buy” rating in a report on Thursday, October 10th. Finally, JPMorgan Chase & Co. initiated coverage on Quanta Services in a research note on Monday, October 7th. They set a “neutral” rating and a $297.00 price target on the stock. Four analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $314.27.

Quanta Services Trading Up 0.5 %

PWR opened at $332.36 on Thursday. The business has a fifty day moving average price of $306.37 and a 200 day moving average price of $279.24. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.23 and a quick ratio of 1.19. Quanta Services, Inc. has a 12 month low of $180.97 and a 12 month high of $335.00. The stock has a market capitalization of $49.06 billion, a price-to-earnings ratio of 61.32 and a beta of 1.01.

Quanta Services (NYSE:PWR) last announced its quarterly earnings data on Thursday, October 31st. The construction company reported $2.72 EPS for the quarter, topping analysts’ consensus estimates 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 revenue for the quarter was up 15.5% on a year-over-year basis. During the same period in the previous year, the company posted $2.08 earnings per share. Sell-side analysts expect that Quanta Services, Inc. will post 7.88 earnings per share for the current fiscal year.

Quanta Services Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, October 11th. Stockholders of record on Tuesday, October 1st were given a dividend of $0.09 per share. The ex-dividend date was Tuesday, October 1st. This represents a $0.36 annualized dividend and a dividend yield of 0.11%. Quanta Services’s dividend payout ratio (DPR) 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.