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

Citizens Financial Group Inc. RI increased its position in Quanta Services, Inc. (NYSE:PWR) by 52.3% in the fourth quarter, HoldingsChannel.com reports. The fund owned 53,622 shares of the construction company’s stock after buying an additional 18,415 shares during the period. Citizens Financial Group Inc. RI’s holdings in Quanta Services were worth $16,947,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in PWR. Webster Bank N. A. raised its stake in Quanta Services by 4,050.0% in the 4th quarter. Webster Bank N. A. now owns 83 shares of the construction company’s stock worth $26,000 after acquiring an additional 81 shares during the last quarter. Sierra Ocean LLC acquired a new stake in Quanta Services during the 4th quarter worth about $27,000. Prestige Wealth Management Group LLC acquired a new stake in Quanta Services during the 3rd quarter worth about $30,000. Legacy Investment Solutions LLC acquired a new stake in Quanta Services during the 3rd quarter worth about $31,000. Finally, Sound Income Strategies LLC grew its position in Quanta Services by 700.0% during the 4th quarter. Sound Income Strategies LLC now owns 104 shares of the construction company’s stock worth $33,000 after purchasing an additional 91 shares during the period. Hedge funds and other institutional investors own 90.49% of the company’s stock.

Quanta Services Stock Down 4.0 %

PWR stock opened at $236.09 on Tuesday. Quanta Services, Inc. has a one year low of $227.11 and a one year high of $365.88. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.19 and a current ratio of 1.30. The firm’s 50 day moving average price is $301.17 and its 200-day moving average price is $305.31. The firm has a market cap of $34.99 billion, a PE ratio of 39.15, a PEG ratio of 1.41 and a beta of 1.10.

Quanta Services (NYSE:PWR) last posted its earnings results on Thursday, February 20th. The construction company reported $2.74 earnings per share for the quarter, beating the consensus estimate of $2.62 by $0.12. Quanta Services had a net margin of 3.82% and a return on equity of 18.00%. The firm had revenue of $6.55 billion during the quarter, compared to the consensus estimate of $6.61 billion. On average, equities research analysts anticipate that Quanta Services, Inc. will post 9.34 EPS for the current year.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on the company. JPMorgan Chase & Co. increased their price target on Quanta Services from $297.00 to $323.00 and gave the stock a “neutral” rating in a research report on Tuesday, January 28th. Roth Capital raised Quanta Services to a “strong-buy” rating in a research report on Thursday, February 20th. Roth Mkm assumed coverage on Quanta Services in a research report on Friday, February 21st. They set a “buy” rating and a $350.00 price target on the stock. Bank of America started coverage on Quanta Services in a research report on Friday, January 24th. They set a “buy” rating and a $407.00 price target on the stock. Finally, Daiwa America cut Quanta Services from a “strong-buy” rating to a “hold” rating in a research report on Monday, February 24th. Six analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $326.95.

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.