First Hawaiian Bank Has $1.75 Million Stock Position in Quanta Services, Inc. $PWR

Key Points

• First Hawaiian Bank increased its stake in Quanta Services, Inc. by 47.2% during the first quarter, making its holdings worth $1.75 million.
• Quanta Services reported a 21.1% year-over-year revenue increase for the quarter, with earnings of $2.48 per share, exceeding analysts' expectations.
• The company has a current market capitalization of $57 billion and a dividend yield of 0.1% with expectations for future growth reflected in its FY 2025 guidance.

First Hawaiian Bank raised its stake in Quanta Services, Inc. (NYSE:PWR - Free Report) by 47.2% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 6,888 shares of the construction company's stock after buying an additional 2,208 shares during the period. First Hawaiian Bank's holdings in Quanta Services were worth $1,751,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in the stock. Vanguard Group Inc. boosted its position in Quanta Services by 2.4% in the first quarter. Vanguard Group Inc. now owns 17,417,299 shares of the construction company's stock valued at $4,427,129,000 after buying an additional 407,878 shares in the last quarter. Nuveen LLC acquired a new stake in Quanta Services in the first quarter valued at approximately $404,288,000. Northern Trust Corp boosted its position in Quanta Services by 3.8% in the first quarter. Northern Trust Corp now owns 1,545,514 shares of the construction company's stock valued at $392,839,000 after buying an additional 56,081 shares in the last quarter. Amundi lifted its holdings in shares of Quanta Services by 188.3% during the first quarter. Amundi now owns 1,206,577 shares of the construction company's stock worth $304,139,000 after purchasing an additional 788,079 shares during the period. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its holdings in shares of Quanta Services by 7.8% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,143,033 shares of the construction company's stock worth $361,256,000 after purchasing an additional 82,981 shares during the period. Institutional investors and hedge funds own 90.49% of the company's stock.

Quanta Services Price Performance

Shares of NYSE PWR opened at $382.50 on Friday. Quanta Services, Inc. has a twelve month low of $227.08 and a twelve month high of $424.94. The firm has a fifty day simple moving average of $387.66 and a 200 day simple moving average of $334.36. The company has a market capitalization of $57.00 billion, a PE ratio of 59.21, a P/E/G ratio of 2.31 and a beta of 1.01. The company has a quick ratio of 1.32, a current ratio of 1.37 and a debt-to-equity ratio of 0.59.

Quanta Services (NYSE:PWR - Get Free Report) last announced its earnings results on Thursday, July 31st. The construction company reported $2.48 earnings per share for the quarter, topping analysts' consensus estimates of $2.44 by $0.04. Quanta Services had a net margin of 3.73% and a return on equity of 18.41%. The business had revenue of $6.77 billion during the quarter, compared to the consensus estimate of $6.55 billion. During the same quarter last year, the firm earned $1.90 earnings per share. Quanta Services's quarterly revenue was up 21.1% on a year-over-year basis. Quanta Services has set its FY 2025 guidance at 10.280-10.880 EPS. On average, sell-side analysts forecast that Quanta Services, Inc. will post 9.34 EPS for the current year.

Quanta Services Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, October 10th. Shareholders of record on Wednesday, October 1st will be paid a $0.10 dividend. This represents a $0.40 annualized dividend and a yield of 0.1%. The ex-dividend date of this dividend is Wednesday, October 1st. Quanta Services's payout ratio is 6.19%.

Analyst Ratings Changes

A number of equities analysts have recently commented on the stock. Seaport Res Ptn upgraded shares of Quanta Services to a "hold" rating in a report on Thursday, July 10th. Truist Financial lifted their price target on shares of Quanta Services from $375.00 to $472.00 and gave the stock a "buy" rating in a report on Monday, August 4th. Roth Capital reiterated a "buy" rating and set a $450.00 price target (up previously from $350.00) on shares of Quanta Services in a report on Tuesday, July 29th. BMO Capital Markets lowered shares of Quanta Services from an "outperform" rating to a "market perform" rating and lifted their price target for the stock from $352.00 to $400.00 in a report on Thursday, July 17th. Finally, Sanford C. Bernstein lowered shares of Quanta Services from an "outperform" rating to a "market perform" rating and set a $410.00 price target on the stock. in a report on Monday, July 28th. Thirteen investment analysts have rated the stock with a Buy rating and twelve have issued a Hold rating to the company's stock. Based on data from MarketBeat.com, Quanta Services currently has an average rating of "Moderate Buy" and a consensus target price of $397.18.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.