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

Central Pacific Bank Trust Division bought a new stake in Quanta Services, Inc. (NYSE:PWR) in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor bought 3,817 shares of the construction company’s stock, valued at approximately $990,000.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. Private Ocean LLC purchased a new position in Quanta Services during the first quarter worth about $26,000. Salomon & Ludwin LLC purchased a new position in Quanta Services during the first quarter worth about $26,000. Hazlett Burt & Watson Inc. raised its holdings in Quanta Services by 47.3% during the fourth quarter. Hazlett Burt & Watson Inc. now owns 162 shares of the construction company’s stock worth $34,000 after purchasing an additional 52 shares in the last quarter. Newbridge Financial Services Group Inc. purchased a new position in Quanta Services during the fourth quarter worth about $34,000. Finally, Valley National Advisers Inc. purchased a new position in Quanta Services during the fourth quarter worth about $41,000. 90.49% of the stock is owned by hedge funds and other institutional investors.

Quanta Services Trading Up 0.1 %

Shares of PWR traded up $0.14 during mid-day trading on Tuesday, reaching $254.80. The company had a trading volume of 648,347 shares, compared to its average volume of 932,193. The stock has a market cap of $37.30 billion, a price-to-earnings ratio of 49.38 and a beta of 1.03. The firm has a fifty day simple moving average of $268.36 and a 200-day simple moving average of $242.85. Quanta Services, Inc. has a fifty-two week low of $153.74 and a fifty-two week high of $286.87. The company has a current ratio of 1.36, a quick ratio of 1.32 and a debt-to-equity ratio of 0.50.

Quanta Services (NYSE:PWR) last issued its earnings results on Thursday, May 2nd. The construction company reported $1.23 EPS for the quarter, beating analysts’ consensus estimates of $1.09 by $0.14. Quanta Services had a net margin of 3.57% and a return on equity of 16.25%. The business had revenue of $5.03 billion for the quarter, compared to the consensus estimate of $4.96 billion. On average, sell-side analysts anticipate that Quanta Services, Inc. will post 7.69 EPS for the current fiscal year.

Quanta Services Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, July 12th. Stockholders of record on Monday, July 1st will be paid a $0.09 dividend. This represents a $0.36 dividend on an annualized basis and a dividend yield of 0.14%. The ex-dividend date of this dividend is Monday, July 1st. Quanta Services’s dividend payout ratio is presently 6.98%.

Analysts Set New Price Targets

A number of research analysts have issued reports on the stock. Citigroup increased their target price on shares of Quanta Services from $275.00 to $285.00 and gave the company a “buy” rating in a report on Monday, April 22nd. B. Riley increased their price target on shares of Quanta Services from $246.00 to $286.00 and gave the company a “buy” rating in a research report on Friday, May 3rd. Argus raised their target price on shares of Quanta Services from $285.00 to $310.00 and gave the stock a “buy” rating in a research report on Thursday, May 30th. The Goldman Sachs Group raised their target price on shares of Quanta Services from $259.00 to $286.00 and gave the stock a “buy” rating in a research report on Tuesday, May 28th. Finally, Truist Financial restated a “buy” rating and set a $305.00 target price (up previously from $301.00) on shares of Quanta Services in a research report on Monday, May 6th. Three equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $268.85.

About Quanta Services

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.