Citizens Financial Group Inc. RI Sells 5,685 Shares of Quanta Services, Inc. $PWR

Citizens Financial Group Inc. RI lessened its holdings in shares of Quanta Services, Inc. (NYSE:PWR) by 7.6% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 68,964 shares of the construction company’s stock after selling 5,685 shares during the quarter. Citizens Financial Group Inc. RI’s holdings in Quanta Services were worth $37,863,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of PWR. Cedar Mountain Advisors LLC grew its stake in Quanta Services by 321.4% in the 4th quarter. Cedar Mountain Advisors LLC now owns 59 shares of the construction company’s stock worth $25,000 after buying an additional 45 shares in the last quarter. Darwin Wealth Management LLC bought a new stake in shares of Quanta Services during the 2nd quarter worth $26,000. Flagship Harbor Advisors LLC bought a new stake in shares of Quanta Services during the 4th quarter worth $28,000. MV Capital Management Inc. purchased a new position in Quanta Services in the fourth quarter worth $30,000. Finally, Meeder Asset Management Inc. increased its stake in Quanta Services by 221.7% in the fourth quarter. Meeder Asset Management Inc. now owns 74 shares of the construction company’s stock valued at $31,000 after acquiring an additional 51 shares during the last quarter. 90.49% of the stock is currently owned by institutional investors.

Quanta Services Trading Down 1.5%

Quanta Services stock traded down $10.20 during trading hours on Friday, reaching $657.97. The company had a trading volume of 847,048 shares, compared to its average volume of 1,380,968. The company has a debt-to-equity ratio of 0.57, a current ratio of 1.14 and a quick ratio of 1.09. Quanta Services, Inc. has a 12-month low of $363.01 and a 12-month high of $788.75. The company has a 50-day moving average price of $714.79 and a 200 day moving average price of $590.92. The firm has a market cap of $98.73 billion, a price-to-earnings ratio of 90.26, a P/E/G ratio of 2.59 and a beta of 1.21.

Quanta Services (NYSE:PWR) last released its quarterly earnings data on Thursday, April 30th. The construction company reported $2.68 earnings per share for the quarter, beating analysts’ consensus estimates of $2.04 by $0.64. Quanta Services had a return on equity of 18.64% and a net margin of 3.67%.The firm had revenue of $7.87 billion during the quarter, compared to analyst estimates of $7 billion. During the same quarter in the prior year, the firm posted $1.78 earnings per share. The business’s quarterly revenue was up 26.3% compared to the same quarter last year. Quanta Services has set its FY 2026 guidance at 13.550-14.250 EPS. Equities analysts forecast that Quanta Services, Inc. will post 12.8 earnings per share for the current year.

Quanta Services declared that its Board of Directors has approved a stock buyback program on Friday, May 22nd that authorizes the company to repurchase $1.00 billion in shares. This repurchase authorization authorizes the construction company to purchase up to 0.9% of its stock through open market purchases. Stock repurchase programs are often a sign that the company’s management believes its shares are undervalued.

Quanta Services Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, July 13th. Shareholders of record on Wednesday, July 1st will be given a $0.11 dividend. The ex-dividend date is Wednesday, July 1st. This represents a $0.44 dividend on an annualized basis and a dividend yield of 0.1%. Quanta Services’s payout ratio is presently 6.04%.

Insider Activity

In other Quanta Services news, CEO Earl C. Jr. Austin sold 130,000 shares of the company’s stock in a transaction that occurred on Tuesday, May 5th. The stock was sold at an average price of $770.65, for a total transaction of $100,184,500.00. Following the completion of the transaction, the chief executive officer owned 556,911 shares of the company’s stock, valued at $429,183,462.15. This represents a 18.93% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CAO Paul Nobel sold 4,000 shares of the stock in a transaction that occurred on Monday, May 4th. The stock was sold at an average price of $756.98, for a total value of $3,027,920.00. Following the completion of the sale, the chief accounting officer owned 8,080 shares of the company’s stock, valued at approximately $6,116,398.40. This trade represents a 33.11% decrease in their position. The SEC filing for this sale provides additional information. Over the last ninety days, insiders have sold 159,992 shares of company stock valued at $123,244,714. Insiders own 0.60% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on PWR shares. JPMorgan Chase & Co. lifted their price target on Quanta Services from $627.00 to $805.00 and gave the stock an “overweight” rating in a research note on Friday, May 1st. Zacks Research cut Quanta Services from a “strong-buy” rating to a “hold” rating in a report on Monday, July 6th. BNP Paribas Exane began coverage on shares of Quanta Services in a research report on Tuesday, April 14th. They set a “neutral” rating on the stock. Citigroup lifted their price target on shares of Quanta Services from $640.00 to $733.00 and gave the stock a “buy” rating in a research note on Monday, April 27th. Finally, B. Riley Financial reaffirmed a “neutral” rating on shares of Quanta Services in a research note on Friday, May 1st. Nineteen research analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $751.86.

Quanta Services Profile

Quanta Services, Inc is a leading specialty contractor that provides comprehensive infrastructure solutions for the electric power, pipeline and energy, and communications markets. Headquartered in Houston, Texas, the company delivers engineering, procurement, construction, installation, maintenance and repair services that support the development, modernization and ongoing operation of critical energy and communications networks.

In the electric power sector, Quanta works on transmission and distribution systems, substation construction and grid modernization projects that include integration of renewable generation and energy storage.