Trueblood Wealth Management LLC Takes $362,000 Position in Quanta Services, Inc. (NYSE:PWR)

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

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

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on the stock. Truist Financial assumed coverage on shares of Quanta Services in a research report on Thursday, March 14th. They issued a “buy” rating and a $301.00 target price for the company. Stifel Nicolaus upped their price target on shares of Quanta Services from $237.00 to $252.00 and gave the stock a “buy” rating in a research note on Friday, February 23rd. Evercore ISI initiated coverage on shares of Quanta Services in a research note on Tuesday, February 13th. They set an “outperform” rating and a $237.00 target price for the company. DA Davidson increased their target price on shares of Quanta Services from $190.00 to $225.00 and gave the company a “neutral” rating in a research note on Wednesday, February 28th. Finally, The Goldman Sachs Group upped their price target on shares of Quanta Services from $227.00 to $259.00 and gave the company a “buy” rating in a research report on Monday, February 26th. Three investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $239.54.

Insider Transactions at Quanta Services

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

Quanta Services Stock Performance

Quanta Services stock traded up $0.05 during mid-day trading on Thursday, reaching $259.80. The company had a trading volume of 739,375 shares, compared to its average volume of 950,521. The company has a 50 day moving average of $224.33 and a 200-day moving average of $201.52. The firm has a market cap of $37.87 billion, a price-to-earnings ratio of 51.84 and a beta of 1.10. Quanta Services, Inc. has a 52 week low of $153.74 and a 52 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.

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

Quanta Services Dividend Announcement

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

Quanta Services Company 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.