Citizens Business Bank Boosts Holdings in Quanta Services, Inc. (NYSE:PWR)

Citizens Business Bank increased its position in shares of Quanta Services, Inc. (NYSE:PWR) by 96.0% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 66,138 shares of the construction company’s stock after buying an additional 32,388 shares during the quarter. Quanta Services accounts for 4.0% of Citizens Business Bank’s portfolio, making the stock its 4th biggest holding. Citizens Business Bank’s holdings in Quanta Services were worth $20,903,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also modified their holdings of the company. Geneos Wealth Management Inc. grew its holdings in shares of Quanta Services by 0.7% in the 4th quarter. Geneos Wealth Management Inc. now owns 4,167 shares of the construction company’s stock worth $1,317,000 after purchasing an additional 29 shares during the last quarter. Commonwealth Financial Services LLC increased its holdings in Quanta Services by 2.6% during the 4th quarter. Commonwealth Financial Services LLC now owns 1,152 shares of the construction company’s stock valued at $364,000 after purchasing an additional 29 shares in the last quarter. HB Wealth Management LLC raised its position in Quanta Services by 0.9% in the 4th quarter. HB Wealth Management LLC now owns 3,323 shares of the construction company’s stock valued at $1,050,000 after purchasing an additional 31 shares during the last quarter. Moody Lynn & Lieberson LLC grew its holdings in shares of Quanta Services by 0.5% during the fourth quarter. Moody Lynn & Lieberson LLC now owns 6,141 shares of the construction company’s stock worth $1,941,000 after purchasing an additional 32 shares during the last quarter. Finally, Larson Financial Group LLC raised its holdings in shares of Quanta Services by 7.8% in the fourth quarter. Larson Financial Group LLC now owns 456 shares of the construction company’s stock valued at $144,000 after buying an additional 33 shares during the last quarter. 90.49% of the stock is currently owned by institutional investors and hedge funds.

Quanta Services Stock Performance

PWR opened at $323.70 on Thursday. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.30 and a quick ratio of 1.19. The business has a fifty day simple moving average of $268.49 and a 200 day simple moving average of $300.53. Quanta Services, Inc. has a 1 year low of $227.08 and a 1 year high of $365.88. The company has a market capitalization of $47.99 billion, a PE ratio of 53.68, a price-to-earnings-growth ratio of 1.41 and a beta of 1.02.

Quanta Services (NYSE:PWR) last released its quarterly earnings results on Thursday, May 1st. The construction company reported $1.78 EPS for the quarter, beating the consensus estimate of $1.72 by $0.06. Quanta Services had a net margin of 3.82% and a return on equity of 18.00%. The business had revenue of $6.23 billion for the quarter, compared to the consensus estimate of $5.88 billion. During the same period in the prior year, the company posted $1.41 earnings per share. Quanta Services’s revenue was up 23.9% compared to the same quarter last year. Research analysts expect that Quanta Services, Inc. will post 9.34 EPS for the current year.

Quanta Services Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, April 11th. Investors of record on Thursday, April 3rd were given a dividend of $0.10 per share. The ex-dividend date was Thursday, April 3rd. This represents a $0.40 annualized dividend and a dividend yield of 0.12%. Quanta Services’s dividend payout ratio is 6.45%.

Analysts Set New Price Targets

Several equities research analysts have weighed in on the stock. Piper Sandler set a $360.00 price objective on shares of Quanta Services and gave the company an “overweight” rating in a research report on Tuesday. Bank of America initiated coverage on Quanta Services in a research report on Friday, January 24th. They issued a “buy” rating and a $407.00 price objective on the stock. Roth Mkm assumed coverage on Quanta Services in a research note on Friday, February 21st. They set a “buy” rating and a $350.00 price target on the stock. Daiwa Capital Markets downgraded shares of Quanta Services from an “outperform” rating to a “neutral” rating in a research report on Monday, February 24th. Finally, JPMorgan Chase & Co. increased their price objective on shares of Quanta Services from $297.00 to $323.00 and gave the company a “neutral” rating in a report on Tuesday, January 28th. Six investment analysts have rated the stock with a hold rating, fifteen have given a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $344.35.

Quanta Services 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.