Trueblood Wealth Management LLC Has $534,000 Position in Quanta Services, Inc. (NYSE:PWR)

Trueblood Wealth Management LLC increased its position in shares of Quanta Services, Inc. (NYSE:PWR) by 3.9% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,690 shares of the construction company’s stock after acquiring an additional 64 shares during the quarter. Trueblood Wealth Management LLC’s holdings in Quanta Services were worth $534,000 as of its most recent SEC filing.

Other large investors have also recently bought and sold shares of the company. Legacy Investment Solutions LLC acquired a new position in shares of Quanta Services in the 3rd quarter valued at $31,000. Prestige Wealth Management Group LLC bought a new position in shares of Quanta Services during the 3rd quarter valued at about $30,000. Versant Capital Management Inc lifted its holdings in shares of Quanta Services by 62.5% during the 4th quarter. Versant Capital Management Inc now owns 117 shares of the construction company’s stock valued at $37,000 after purchasing an additional 45 shares in the last quarter. MidAtlantic Capital Management Inc. acquired a new position in shares of Quanta Services in the 3rd quarter valued at approximately $41,000. Finally, Eastern Bank acquired a new stake in Quanta Services during the 3rd quarter worth approximately $44,000. Institutional investors own 90.49% of the company’s stock.

Quanta Services Stock Performance

Shares of NYSE PWR opened at $337.10 on Monday. Quanta Services, Inc. has a 12 month low of $187.27 and a 12 month high of $350.19. The stock has a 50 day moving average of $329.35 and a 200-day moving average of $296.78. The company has a current ratio of 1.23, a quick ratio of 1.19 and a debt-to-equity ratio of 0.58. The company has a market capitalization of $49.76 billion, a P/E ratio of 62.20 and a beta of 1.06.

Quanta Services (NYSE:PWR) last issued its quarterly earnings data on Thursday, October 31st. The construction company reported $2.72 earnings per share for the quarter, beating the consensus estimate of $2.46 by $0.26. The company had revenue of $6.49 billion for the quarter, compared to analyst estimates of $6.56 billion. Quanta Services had a net margin of 3.54% and a return on equity of 16.71%. The company’s revenue was up 15.5% on a year-over-year basis. During the same period in the prior year, the firm earned $2.08 earnings per share. As a group, equities research analysts predict that Quanta Services, Inc. will post 7.9 EPS for the current year.

Quanta Services Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, January 13th. Stockholders of record on Thursday, January 2nd were paid a dividend of $0.10 per share. The ex-dividend date was Thursday, January 2nd. This represents a $0.40 dividend on an annualized basis and a dividend yield of 0.12%. This is a positive change from Quanta Services’s previous quarterly dividend of $0.09. Quanta Services’s dividend payout ratio (DPR) is 7.38%.

Analysts Set New Price Targets

A number of equities research analysts recently commented on the stock. Northland Securities restated an “outperform” rating and set a $328.00 price objective (up from $280.00) on shares of Quanta Services in a report on Friday, November 1st. Citigroup upped their price objective on Quanta Services from $348.00 to $394.00 and gave the stock a “buy” rating in a research report on Monday, December 9th. Guggenheim initiated coverage on Quanta Services in a research note on Wednesday, January 8th. They issued a “neutral” rating on the stock. Daiwa America raised shares of Quanta Services to a “strong-buy” rating in a research note on Friday, December 6th. Finally, TD Cowen boosted their price objective on shares of Quanta Services from $280.00 to $335.00 and gave the stock a “buy” rating in a research report on Tuesday, October 15th. Four investment analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Quanta Services has an average rating of “Moderate Buy” and an average target price of $324.19.

Quanta Services 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.