Citizens Business Bank Sells 218 Shares of Quanta Services, Inc. (NYSE:PWR)

Citizens Business Bank decreased its holdings in Quanta Services, Inc. (NYSE:PWR) by 0.6% in the 3rd quarter, HoldingsChannel reports. The firm owned 33,750 shares of the construction company’s stock after selling 218 shares during the quarter. Quanta Services makes up 2.1% of Citizens Business Bank’s portfolio, making the stock its 8th largest holding. Citizens Business Bank’s holdings in Quanta Services were worth $10,063,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of PWR. Resurgent Financial Advisors LLC raised its stake in shares of Quanta Services by 0.7% during the 3rd quarter. Resurgent Financial Advisors LLC now owns 4,773 shares of the construction company’s stock worth $1,423,000 after purchasing an additional 33 shares in the last quarter. Tower Wealth Partners Inc. raised its position in Quanta Services by 3.1% during the third quarter. Tower Wealth Partners Inc. now owns 1,122 shares of the construction company’s stock valued at $335,000 after acquiring an additional 34 shares in the last quarter. Huntington National Bank grew its position in Quanta Services by 2.9% in the third quarter. Huntington National Bank now owns 1,240 shares of the construction company’s stock worth $370,000 after acquiring an additional 35 shares in the last quarter. Terra Nova Asset Management LLC increased its stake in shares of Quanta Services by 0.3% during the 3rd quarter. Terra Nova Asset Management LLC now owns 12,779 shares of the construction company’s stock worth $3,810,000 after purchasing an additional 38 shares during the last quarter. Finally, Greenleaf Trust raised its holdings in shares of Quanta Services by 1.2% during the 3rd quarter. Greenleaf Trust now owns 3,154 shares of the construction company’s stock valued at $940,000 after purchasing an additional 38 shares in the last quarter. 90.49% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several equities analysts have commented on PWR shares. Jefferies Financial Group started coverage on shares of Quanta Services in a research report on Wednesday, September 4th. They set a “hold” rating and a $256.00 target price on the stock. Northland Securities reissued an “outperform” rating and issued a $328.00 price objective (up from $280.00) on shares of Quanta Services in a research note on Friday, November 1st. Stifel Nicolaus upped their target price on Quanta Services from $283.00 to $342.00 and gave the stock a “buy” rating in a research report on Thursday, October 10th. Citigroup lifted their price target on shares of Quanta Services from $348.00 to $394.00 and gave the company a “buy” rating in a research report on Monday. Finally, TD Cowen upped their price objective on shares of Quanta Services from $280.00 to $335.00 and gave the stock a “buy” rating in a report on Tuesday, October 15th. Four equities research analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $319.69.

Quanta Services Trading Down 0.7 %

PWR stock opened at $319.79 on Wednesday. The company has a current ratio of 1.23, a quick ratio of 1.19 and a debt-to-equity ratio of 0.58. The firm has a market cap of $47.20 billion, a P/E ratio of 59.00 and a beta of 1.03. Quanta Services, Inc. has a 1-year low of $187.27 and a 1-year high of $350.19. The business’s 50 day moving average is $320.62 and its 200-day moving average is $286.05.

Quanta Services (NYSE:PWR) last issued its quarterly earnings data on Thursday, October 31st. The construction company reported $2.72 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.46 by $0.26. Quanta Services had a return on equity of 16.71% and a net margin of 3.54%. The company had revenue of $6.49 billion during the quarter, compared to analysts’ expectations of $6.56 billion. The business’s revenue was up 15.5% on a year-over-year basis. During the same period last year, the business earned $2.08 earnings per share. Equities analysts anticipate that Quanta Services, Inc. will post 7.9 earnings per share for the current fiscal year.

Quanta Services Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, January 13th. Stockholders of record on Thursday, January 2nd will be issued a $0.10 dividend. This is an increase from Quanta Services’s previous quarterly dividend of $0.09. This represents a $0.40 annualized dividend and a dividend yield of 0.13%. The ex-dividend date is Thursday, January 2nd. Quanta Services’s payout ratio is presently 7.38%.

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.