First Hawaiian Bank Buys 1,795 Shares of Quanta Services, Inc. (NYSE:PWR)

First Hawaiian Bank raised its position in Quanta Services, Inc. (NYSE:PWR - Free Report) by 62.2% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 4,680 shares of the construction company's stock after purchasing an additional 1,795 shares during the quarter. First Hawaiian Bank's holdings in Quanta Services were worth $1,479,000 as of its most recent SEC filing.

Other hedge funds have also recently made changes to their positions in the company. Legacy Investment Solutions LLC acquired a new stake in Quanta Services during the 3rd quarter worth about $31,000. Prestige Wealth Management Group LLC purchased a new stake in Quanta Services in the 3rd quarter valued at about $30,000. Versant Capital Management Inc lifted its position in shares of Quanta Services by 62.5% during the 4th quarter. Versant Capital Management Inc now owns 117 shares of the construction company's stock worth $37,000 after buying an additional 45 shares in the last quarter. Valley Wealth Managers Inc. purchased a new stake in shares of Quanta Services during the second quarter valued at approximately $33,000. Finally, Quest Partners LLC bought a new position in Quanta Services in the 2nd quarter valued at $35,000. 90.49% of the stock is owned by institutional investors and hedge funds.

Quanta Services Trading Up 0.6 %

Shares of NYSE PWR traded up $1.83 during midday trading on Friday, reaching $314.03. The company had a trading volume of 825,642 shares, compared to its average volume of 919,090. The stock has a market cap of $46.35 billion, a PE ratio of 57.94 and a beta of 1.06. Quanta Services, Inc. has a one year low of $187.27 and a one year high of $350.19. The company has a quick ratio of 1.19, a current ratio of 1.23 and a debt-to-equity ratio of 0.58. The firm's fifty day moving average price is $328.05 and its 200-day moving average price is $293.59.

Quanta Services (NYSE:PWR - Get Free Report) last posted its earnings results on Thursday, October 31st. The construction company reported $2.72 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.46 by $0.26. Quanta Services had a return on equity of 16.71% and a net margin of 3.54%. The company had revenue of $6.49 billion for the quarter, compared to analysts' expectations of $6.56 billion. During the same period last year, the firm earned $2.08 earnings per share. Quanta Services's quarterly revenue was up 15.5% on a year-over-year basis. On average, equities research analysts anticipate that Quanta Services, Inc. will post 7.9 earnings per share for the current year.

Quanta Services Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, January 13th. Shareholders of record on Thursday, January 2nd will be issued a dividend of $0.10 per share. This is an increase from Quanta Services's previous quarterly dividend of $0.09. The ex-dividend date of this dividend is Thursday, January 2nd. This represents a $0.40 dividend on an annualized basis and a dividend yield of 0.13%. Quanta Services's dividend payout ratio is 7.38%.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on the stock. Guggenheim initiated coverage on shares of Quanta Services in a report on Wednesday. They set a "neutral" rating for the company. Daiwa America raised Quanta Services to a "strong-buy" rating in a report on Friday, December 6th. JPMorgan Chase & Co. started coverage on shares of Quanta Services in a research note on Monday, October 7th. They issued a "neutral" rating and a $297.00 target price for the company. TD Cowen increased their price objective on Quanta Services from $280.00 to $335.00 and gave the stock a "buy" rating in a report on Tuesday, October 15th. Finally, Truist Financial boosted their price target on shares of Quanta Services from $358.00 to $399.00 and gave the company a "buy" rating in a research report on Thursday, December 19th. Five investment analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat.com, Quanta Services has an average rating of "Moderate Buy" and an average target price of $324.25.

Quanta Services 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.