First Hawaiian Bank Acquires 2,208 Shares of Quanta Services, Inc. (NYSE:PWR)

First Hawaiian Bank increased its holdings in shares of Quanta Services, Inc. (NYSE:PWR - Free Report) by 47.2% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 6,888 shares of the construction company's stock after purchasing an additional 2,208 shares during the quarter. First Hawaiian Bank's holdings in Quanta Services were worth $1,751,000 as of its most recent SEC filing.

Several other large investors have also added to or reduced their stakes in the business. Vanguard Group Inc. boosted its stake in shares of Quanta Services by 1.0% during the 4th quarter. Vanguard Group Inc. now owns 17,009,421 shares of the construction company's stock worth $5,375,828,000 after buying an additional 161,277 shares during the last quarter. Capital World Investors boosted its position in Quanta Services by 14.1% during the fourth quarter. Capital World Investors now owns 7,223,471 shares of the construction company's stock valued at $2,282,978,000 after purchasing an additional 891,977 shares during the last quarter. Geode Capital Management LLC boosted its position in Quanta Services by 2.9% during the fourth quarter. Geode Capital Management LLC now owns 3,558,827 shares of the construction company's stock valued at $1,121,830,000 after purchasing an additional 99,416 shares during the last quarter. Invesco Ltd. boosted its position in Quanta Services by 3.7% during the fourth quarter. Invesco Ltd. now owns 1,913,847 shares of the construction company's stock valued at $604,871,000 after purchasing an additional 68,565 shares during the last quarter. Finally, Norges Bank acquired a new position in Quanta Services during the fourth quarter valued at approximately $544,937,000. Institutional investors and hedge funds own 90.49% of the company's stock.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on PWR. The Goldman Sachs Group cut their price objective on Quanta Services from $418.00 to $364.00 and set a "buy" rating for the company in a report on Thursday, April 24th. Stifel Nicolaus increased their price target on shares of Quanta Services from $306.00 to $363.00 and gave the company a "buy" rating in a research note on Monday, May 5th. Roth Mkm started coverage on shares of Quanta Services in a research note on Friday, February 21st. They issued a "buy" rating and a $350.00 price target for the company. TD Cowen raised their target price on shares of Quanta Services from $335.00 to $355.00 and gave the company a "buy" rating in a research note on Wednesday, May 7th. Finally, Truist Financial cut their target price on shares of Quanta Services from $398.00 to $324.00 and set a "buy" rating for the company in a research note on Tuesday, April 8th. 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 stock. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $344.85.

Quanta Services Stock Performance

NYSE PWR traded up $2.30 during trading on Friday, reaching $342.04. The company's stock had a trading volume of 1,655,321 shares, compared to its average volume of 1,548,252. The company has a current ratio of 1.30, a quick ratio of 1.19 and a debt-to-equity ratio of 0.56. The firm has a market capitalization of $50.71 billion, a price-to-earnings ratio of 56.72, a price-to-earnings-growth ratio of 1.41 and a beta of 1.02. The firm has a 50 day moving average price of $295.98 and a 200 day moving average price of $303.24. Quanta Services, Inc. has a 12 month low of $227.08 and a 12 month high of $365.88.

Quanta Services (NYSE:PWR - Get Free Report) last posted its quarterly earnings data on Thursday, May 1st. The construction company reported $1.78 earnings per share for the quarter, topping 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 analysts' expectations of $5.88 billion. During the same quarter in the prior year, the business posted $1.41 earnings per share. Quanta Services's revenue was up 23.9% compared to the same quarter last year. As a group, equities analysts anticipate that Quanta Services, Inc. will post 9.34 EPS for the current fiscal year.

Quanta Services Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, July 11th. Investors of record on Tuesday, July 1st will be given a dividend of $0.10 per share. The ex-dividend date is Tuesday, July 1st. This represents a $0.40 annualized dividend and a dividend yield of 0.12%. Quanta Services's dividend payout ratio is currently 6.45%.

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.