First Hawaiian Bank lessened its stake in Quanta Services, Inc. (NYSE:PWR – Free Report) by 21.9% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 12,538 shares of the construction company’s stock after selling 3,522 shares during the period. First Hawaiian Bank’s holdings in Quanta Services were worth $2,089,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other large investors have also added to or reduced their stakes in the company. Vanguard Personalized Indexing Management LLC raised its stake in shares of Quanta Services by 2.3% during the 4th quarter. Vanguard Personalized Indexing Management LLC now owns 16,592 shares of the construction company’s stock worth $2,364,000 after acquiring an additional 374 shares in the last quarter. Bremer Bank National Association grew its stake in Quanta Services by 85.8% during the 4th quarter. Bremer Bank National Association now owns 19,564 shares of the construction company’s stock worth $2,787,000 after buying an additional 9,037 shares during the last quarter. Alpha Cubed Investments LLC raised its stake in Quanta Services by 10.3% in the fourth quarter. Alpha Cubed Investments LLC now owns 113,980 shares of the construction company’s stock valued at $16,242,000 after buying an additional 10,663 shares during the last quarter. Commonwealth Equity Services LLC boosted its holdings in Quanta Services by 26.2% in the fourth quarter. Commonwealth Equity Services LLC now owns 43,584 shares of the construction company’s stock worth $6,210,000 after acquiring an additional 9,049 shares in the last quarter. Finally, Impax Asset Management Group plc increased its holdings in shares of Quanta Services by 5.3% during the fourth quarter. Impax Asset Management Group plc now owns 6,561 shares of the construction company’s stock valued at $935,000 after acquiring an additional 331 shares in the last quarter. 88.80% of the stock is currently owned by institutional investors.
Insiders Place Their Bets
In other news, VP Dorothy Upperman sold 4,074 shares of the business’s stock in a transaction dated Wednesday, June 7th. The shares were sold at an average price of $183.87, for a total transaction of $749,086.38. Following the completion of the sale, the vice president now owns 13,078 shares of the company’s stock, valued at $2,404,651.86. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, EVP Derrick A. Jensen sold 100,000 shares of the company’s stock in a transaction on Monday, May 8th. The shares were sold at an average price of $169.36, for a total transaction of $16,936,000.00. Following the completion of the sale, the executive vice president now owns 282,225 shares of the company’s stock, valued at $47,797,626. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, VP Dorothy Upperman sold 4,074 shares of the stock in a transaction dated Wednesday, June 7th. The shares were sold at an average price of $183.87, for a total transaction of $749,086.38. Following the completion of the sale, the vice president now owns 13,078 shares of the company’s stock, valued at $2,404,651.86. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 247,074 shares of company stock worth $42,242,506. Company insiders own 1.20% of the company’s stock.
Analyst Ratings Changes
A number of brokerages have issued reports on PWR. The Goldman Sachs Group upped their price target on shares of Quanta Services from $150.00 to $171.00 and gave the company a “neutral” rating in a research note on Monday, April 17th. Northland Securities boosted their price target on Quanta Services from $171.00 to $190.00 in a research note on Thursday, May 18th. StockNews.com started coverage on Quanta Services in a research note on Thursday, May 18th. They issued a “hold” rating for the company. DA Davidson upped their target price on Quanta Services from $160.00 to $170.00 in a research report on Tuesday, May 9th. Finally, KeyCorp raised their price target on shares of Quanta Services from $174.00 to $190.00 in a research report on Monday, April 24th. Two analysts have rated the stock with a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $177.91.
Quanta Services Stock Down 0.5 %
PWR opened at $193.71 on Thursday. The company has a fifty day moving average of $176.47 and a two-hundred day moving average of $161.57. The stock has a market capitalization of $28.12 billion, a price-to-earnings ratio of 57.14 and a beta of 1.07. Quanta Services, Inc. has a fifty-two week low of $117.53 and a fifty-two week high of $195.14. The company has a debt-to-equity ratio of 0.74, a quick ratio of 1.58 and a current ratio of 1.63.
Quanta Services (NYSE:PWR – Free Report) last released its quarterly earnings results on Thursday, May 4th. The construction company reported $1.09 earnings per share for the quarter, topping analysts’ consensus estimates of $0.94 by $0.15. Quanta Services had a return on equity of 15.72% and a net margin of 2.86%. The company had revenue of $4.43 billion during the quarter, compared to analysts’ expectations of $4.08 billion. On average, research analysts expect that Quanta Services, Inc. will post 6.42 earnings per share for the current year.
Quanta Services Dividend Announcement
The business also recently declared a quarterly dividend, which will be paid on Friday, July 14th. Investors of record on Monday, July 3rd will be issued a $0.08 dividend. This represents a $0.32 annualized dividend and a yield of 0.17%. The ex-dividend date is Friday, June 30th. Quanta Services’s payout ratio is presently 9.44%.
About Quanta Services
Quanta Services, Inc provides infrastructure solutions for the electric and gas utility, renewable energy, communications, and pipeline and energy industries worldwide. 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.
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