Central Pacific Bank Trust Division Lowers Position in Quanta Services, Inc. (NYSE:PWR)

Central Pacific Bank Trust Division lowered its position in shares of Quanta Services, Inc. (NYSE:PWR - Free Report) by 39.2% during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 2,046 shares of the construction company's stock after selling 1,317 shares during the quarter. Central Pacific Bank Trust Division's holdings in Quanta Services were worth $520,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also recently modified their holdings of the company. Banque Transatlantique SA bought a new position in shares of Quanta Services during the 4th quarter worth approximately $25,000. Quarry LP bought a new position in shares of Quanta Services during the 4th quarter worth approximately $26,000. Sierra Ocean LLC bought a new position in shares of Quanta Services during the 4th quarter worth approximately $27,000. Centricity Wealth Management LLC bought a new stake in shares of Quanta Services in the 4th quarter worth approximately $34,000. Finally, Rakuten Securities Inc. raised its holdings in shares of Quanta Services by 1,027.3% in the 4th quarter. Rakuten Securities Inc. now owns 124 shares of the construction company's stock worth $39,000 after purchasing an additional 113 shares during the period. Institutional investors own 90.49% of the company's stock.

Quanta Services Price Performance

NYSE:PWR traded up $11.29 during midday trading on Tuesday, hitting $356.82. The company had a trading volume of 1,127,287 shares, compared to its average volume of 1,548,753. Quanta Services, Inc. has a 52-week low of $227.08 and a 52-week high of $365.88. The stock's fifty day moving average price is $297.68 and its 200-day moving average price is $303.25. The company has a market capitalization of $52.90 billion, a PE ratio of 59.17, a P/E/G ratio of 1.41 and a beta of 1.02. The company has a quick ratio of 1.19, a current ratio of 1.30 and a debt-to-equity ratio of 0.56.

Quanta Services (NYSE:PWR - Get Free Report) last posted its quarterly earnings results on Thursday, May 1st. The construction company reported $1.78 earnings per share (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 during the quarter, compared to analyst estimates of $5.88 billion. During the same period in the prior year, the business posted $1.41 earnings per share. The company's revenue was up 23.9% on a year-over-year basis. As a group, research analysts expect that Quanta Services, Inc. will post 9.34 earnings per share for the current year.

Quanta Services Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, July 11th. Stockholders of record on Tuesday, July 1st will be issued a dividend of $0.10 per share. The ex-dividend date of this dividend is Tuesday, July 1st. This represents a $0.40 dividend on an annualized basis and a dividend yield of 0.11%. Quanta Services's dividend payout ratio is currently 6.45%.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on PWR. Citigroup lowered their price target on shares of Quanta Services from $366.00 to $342.00 and set a "buy" rating on the stock in a report on Friday, April 25th. BMO Capital Markets set a $352.00 price target on shares of Quanta Services in a report on Friday, May 2nd. Evercore ISI boosted their target price on shares of Quanta Services from $331.00 to $360.00 and gave the company an "outperform" rating in a report on Friday, May 2nd. Daiwa America raised shares of Quanta Services from a "hold" rating to a "strong-buy" rating in a report on Friday, April 11th. Finally, Stifel Nicolaus boosted their target price on shares of Quanta Services from $306.00 to $363.00 and gave the company a "buy" rating in a report on Monday, May 5th. Six investment analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and two have given a strong buy rating to the company's stock. Based on data from MarketBeat, Quanta Services currently has an average rating of "Moderate Buy" and a consensus price target of $344.85.

Quanta Services Company 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.