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

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

Other large investors have also added to or reduced their stakes in the company. Versor Investments LP bought a new stake in shares of Quanta Services during the 3rd quarter valued at $406,000. Principal Financial Group Inc. grew its stake in Quanta Services by 5.6% during the third quarter. Principal Financial Group Inc. now owns 207,720 shares of the construction company’s stock worth $61,932,000 after buying an additional 11,012 shares in the last quarter. Asio Capital LLC acquired a new position in shares of Quanta Services in the 3rd quarter valued at approximately $2,715,000. Waverton Investment Management Ltd lifted its holdings in shares of Quanta Services by 6.5% during the 3rd quarter. Waverton Investment Management Ltd now owns 41,963 shares of the construction company’s stock worth $12,509,000 after acquiring an additional 2,557 shares during the period. Finally, Synovus Financial Corp increased its stake in Quanta Services by 34.0% in the third quarter. Synovus Financial Corp now owns 7,206 shares of the construction company’s stock valued at $2,148,000 after acquiring an additional 1,830 shares during the last quarter. Institutional investors and hedge funds own 90.49% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have weighed in on PWR. Northland Securities reaffirmed an “outperform” rating and issued a $328.00 target price (up previously from $280.00) on shares of Quanta Services in a report on Friday, November 1st. Robert W. Baird boosted their target price on Quanta Services from $320.00 to $333.00 and gave the stock an “outperform” rating in a research note on Friday, November 1st. Daiwa Capital Markets began coverage on shares of Quanta Services in a research report on Friday, December 6th. They set an “outperform” rating and a $355.00 price objective for the company. Daiwa America upgraded shares of Quanta Services to a “strong-buy” rating in a research report on Friday, December 6th. Finally, TD Cowen upped their price target on shares of Quanta Services from $280.00 to $335.00 and gave the stock a “buy” rating in a report on Tuesday, October 15th. Four analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, Quanta Services presently has a consensus rating of “Moderate Buy” and an average price target of $324.19.

Quanta Services Stock Up 0.3 %

Quanta Services stock 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 company has a quick ratio of 1.19, a current ratio of 1.23 and a debt-to-equity ratio of 0.58. The company has a market capitalization of $49.76 billion, a PE ratio of 62.20 and a beta of 1.06. The firm’s fifty day moving average is $329.35 and its 200 day moving average is $296.78.

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

Quanta Services Increases Dividend

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

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.