Trueblood Wealth Management LLC Buys Shares of 1,679 Quanta Services, Inc. (NYSE:PWR)

Trueblood Wealth Management LLC bought a new stake in shares of Quanta Services, Inc. (NYSE:PWR) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund bought 1,679 shares of the construction company’s stock, valued at approximately $362,000.

Several other large investors have also recently made changes to their positions in PWR. Panagora Asset Management Inc. raised its position in shares of Quanta Services by 79.1% in the 1st quarter. Panagora Asset Management Inc. now owns 11,464 shares of the construction company’s stock worth $1,509,000 after acquiring an additional 5,063 shares in the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS increased its position in Quanta Services by 6.6% during the 1st quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 19,067 shares of the construction company’s stock valued at $2,509,000 after buying an additional 1,181 shares in the last quarter. Great West Life Assurance Co. Can increased its position in Quanta Services by 2.6% during the 1st quarter. Great West Life Assurance Co. Can now owns 26,648 shares of the construction company’s stock valued at $3,655,000 after buying an additional 668 shares in the last quarter. Raymond James Trust N.A. increased its position in Quanta Services by 8.3% during the 1st quarter. Raymond James Trust N.A. now owns 4,949 shares of the construction company’s stock valued at $652,000 after buying an additional 379 shares in the last quarter. Finally, Blair William & Co. IL increased its position in Quanta Services by 21.7% during the 1st quarter. Blair William & Co. IL now owns 16,156 shares of the construction company’s stock valued at $2,126,000 after buying an additional 2,884 shares in the last quarter. 90.49% of the stock is owned by institutional investors.

Analysts Set New Price Targets

PWR has been the topic of several recent analyst reports. Citigroup upped their target price on Quanta Services from $234.00 to $237.00 and gave the company a “buy” rating in a research report on Friday, January 26th. Stifel Nicolaus boosted their price target on Quanta Services from $237.00 to $252.00 and gave the company a “buy” rating in a research note on Friday, February 23rd. TD Cowen boosted their price target on Quanta Services from $205.00 to $270.00 and gave the company an “outperform” rating in a research note on Tuesday, February 27th. DA Davidson boosted their price target on Quanta Services from $190.00 to $225.00 and gave the company a “neutral” rating in a research note on Wednesday, February 28th. Finally, Evercore ISI began coverage on Quanta Services in a research note on Tuesday, February 13th. They set an “outperform” rating and a $237.00 price target on the stock. Three equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $239.54.

Quanta Services Stock Up 0.0 %

Quanta Services stock traded up $0.05 during midday trading on Thursday, reaching $259.80. The company’s stock had a trading volume of 739,375 shares, compared to its average volume of 950,521. Quanta Services, Inc. has a fifty-two week low of $153.74 and a fifty-two week high of $262.01. The company has a quick ratio of 1.44, a current ratio of 1.47 and a debt-to-equity ratio of 0.58. The company has a market cap of $37.87 billion, a P/E ratio of 51.84 and a beta of 1.10. The business has a 50-day simple moving average of $224.33 and a 200-day simple moving average of $201.52.

Quanta Services (NYSE:PWR) last posted its earnings results on Thursday, February 22nd. The construction company reported $2.04 EPS for the quarter, topping analysts’ consensus estimates of $1.83 by $0.21. Quanta Services had a return on equity of 16.46% and a net margin of 3.57%. The business had revenue of $5.78 billion for the quarter, compared to analysts’ expectations of $5.19 billion. During the same quarter in the previous year, the firm earned $1.54 earnings per share. The business’s revenue was up 31.0% compared to the same quarter last year. On average, research analysts expect that Quanta Services, Inc. will post 7.63 earnings per share for the current fiscal year.

Quanta Services Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, April 17th. Investors of record on Tuesday, April 9th will be given a $0.09 dividend. This represents a $0.36 annualized dividend and a yield of 0.14%. Quanta Services’s dividend payout ratio (DPR) is presently 7.19%.

Insider Activity at Quanta Services

In related news, EVP Derrick A. Jensen sold 18,500 shares of the business’s stock in a transaction dated Tuesday, February 27th. The stock was sold at an average price of $236.90, for a total value of $4,382,650.00. Following the transaction, the executive vice president now owns 263,725 shares in the company, valued at approximately $62,476,452.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Quanta Services news, Director Worthing Jackman sold 9,572 shares of Quanta Services stock in a transaction that occurred on Wednesday, February 28th. The stock was sold at an average price of $237.31, for a total value of $2,271,531.32. Following the sale, the director now owns 7,486 shares of the company’s stock, valued at approximately $1,776,502.66. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Derrick A. Jensen sold 18,500 shares of the business’s stock in a transaction that occurred on Tuesday, February 27th. The stock was sold at an average price of $236.90, for a total value of $4,382,650.00. Following the sale, the executive vice president now directly owns 263,725 shares in the company, valued at approximately $62,476,452.50. The disclosure for this sale can be found here. Insiders have sold 47,125 shares of company stock worth $11,270,215 in the last quarter. Company insiders own 1.20% of the company’s stock.

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.