- Quanta Services, Inc (NYSE:PWR) disclosed a new share repurchase program and declared a quarterly dividend.
- PWR authorized a new stock repurchase program of up to $500 million, which will become effective upon the expiration of the existing share buyback program.
- Starting July 1, 2023, the company can repurchase shares from time to time through June 30, 2026, as per the program.
- Under the existing share buyback program, PWR has repurchased around 1.4 million shares for about $155 million.
- Also, the company announced a quarterly dividend per share of $0.08, payable on July 14, 2023, to shareholders of record as of July 3, 2023.
- Earlier this month, the company reported Q1 2023 revenues of $4.43 billion, exceeding the consensus of $4.08 billion and adjusted EPS of $1.24, beating the analysts’ expectations of $1.13.
- PWR witnessed a negative FCF of $(31.2) million vs. $(15.8) million a year ago.
- The company held $217.1 million in cash and equivalents as of Q1 2023.
- Price Action: PWR shares are trading higher by 0.83% at $168.00 premarket on the last check Wednesday.
On Tuesday June 4, 2024, Barnes & Noble Education 13D/Amended Filing Shows Scott Stewart Miller Of Greenhaven Road Investment Management Reported A Stake Of 0%; On May 31, 2024, Co Determined To Sell All Of Their Common Stock
ITEM 4.Purpose of Transaction.On May 31, 2024, the Reporting Persons determined to sell all of their Common Stock (5,256,342 shares). The Reporting Persons sold all of their Common Stock on May 31, 2024 and June 3,
