First Hawaiian Bank has decreased its position in Quanta Services by 2.3% in the second quarter, according to a recent filing with the Securities & Exchange Commission. The bank sold 291 shares, leaving them with 12,247 shares of Quanta Services stock, which were valued at $2,406,000 at the end of the quarter.
Other institutional investors and hedge funds have also been buying and selling shares of Quanta Services recently. Greenwich Wealth Management increased their stake by 0.6% during the first quarter, TCI Wealth Advisors raised their stake by 33.1%, Moody Lynn & Lieberson raised stake by 1.0%, Highview Capital Management increased their stake by 1.0%, and Commonwealth of Pennsylvania Public School Empls Retrmt SYS raised their stake by 0.3%. Overall, hedge funds and institutional investors now own 87.86% of Quanta Services.
Quanta Services, Inc. is traded on the New York Stock Exchange under the ticker symbol PWR. The company has a market capitalization of $29.44 billion and is in the construction industry. Its stock price has ranged from a low of $123.25 to a high of $212.82 in the past year.
Quanta Services recently reported its quarterly earnings, with EPS of $1.47, which fell short of analysts’ estimates of $1.53. The company generated $5.05 billion in revenue for the quarter, surpassing analyst expectations of $4.69 billion. Quanta Services has a net margin of 3.16% and a return on equity of 15.48%. Sell-side analysts predict that the company will post EPS of 6.47 for the current fiscal year.
Additionally, Quanta Services announced a quarterly dividend, which will be paid on October 13th. Stockholders of record as of October 2nd will receive a $0.08 dividend. The ex-dividend date is September 29th. The dividend yield is currently 0.16% with a dividend payout ratio of 8.16%.
In insider news, EVP Donald Wayne sold 5,000 shares of Quanta Services stock on September 1st. The average sale price was $210.92, resulting in a total value of $1,054,600. Following the sale, Wayne now owns 41,323 shares, valued at $8,715,847.16. Corporate insiders own 1.20% of the company’s stock.
Analysts have been weighing in on Quanta Services. StockNews.com gave the stock a “hold” rating, while Northland Securities raised their price target. DA Davidson gave a “neutral” rating, and Credit Suisse Group and UBS Group both raised their price targets. The stock has an average rating of “Moderate Buy” and a consensus price target of $205.27, according to data from MarketBeat.
Quanta Services is a global infrastructure solutions provider for the electric and gas utility, renewable energy, communications, and pipeline and energy industries. The company’s services include the design, construction, maintenance, and repair of electric power infrastructure, installation of smart grid technologies, and the design and installation of commercial and industrial wirings.