Trueblood Wealth Management LLC Sells 476 Shares of Quanta Services, Inc. (NYSE:PWR)

Trueblood Wealth Management LLC lowered its holdings in Quanta Services, Inc. (NYSE:PWR) by 28.2% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,214 shares of the construction company’s stock after selling 476 shares during the period. Trueblood Wealth Management LLC’s holdings in Quanta Services were worth $309,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Brighton Jones LLC purchased a new position in Quanta Services during the fourth quarter valued at approximately $298,000. Union Bancaire Privee UBP SA purchased a new position in shares of Quanta Services during the fourth quarter valued at about $46,364,000. Kestra Private Wealth Services LLC grew its position in shares of Quanta Services by 85.0% in the 4th quarter. Kestra Private Wealth Services LLC now owns 4,752 shares of the construction company’s stock worth $1,502,000 after buying an additional 2,184 shares during the period. Savant Capital LLC grew its position in shares of Quanta Services by 2.7% in the 4th quarter. Savant Capital LLC now owns 6,516 shares of the construction company’s stock worth $2,059,000 after buying an additional 170 shares during the period. Finally, Equitable Trust Co. purchased a new stake in Quanta Services during the 4th quarter valued at about $206,000. Institutional investors own 90.49% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on PWR. BMO Capital Markets set a $352.00 price target on shares of Quanta Services in a report on Friday, May 2nd. Truist Financial reduced their price objective on shares of Quanta Services from $398.00 to $324.00 and set a “buy” rating on the stock in a research report on Tuesday, April 8th. DA Davidson lifted their price objective on shares of Quanta Services from $295.00 to $305.00 and gave the stock a “neutral” rating in a research note on Friday, May 2nd. Roth Capital upgraded shares of Quanta Services to a “strong-buy” rating in a report on Thursday, February 20th. Finally, Citigroup dropped their price target on Quanta Services from $366.00 to $342.00 and set a “buy” rating on the stock in a research note on Friday, April 25th. Six investment analysts have rated the stock with a hold rating, fourteen have issued a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat.com, Quanta Services presently has an average rating of “Moderate Buy” and a consensus price target of $347.35.

Quanta Services Price Performance

Shares of NYSE PWR opened at $355.76 on Thursday. Quanta Services, Inc. has a fifty-two week low of $227.08 and a fifty-two week high of $365.88. The business has a 50 day moving average price of $312.08 and a two-hundred day moving average price of $304.75. The company has a quick ratio of 1.19, a current ratio of 1.30 and a debt-to-equity ratio of 0.56. The firm has a market cap of $52.75 billion, a PE ratio of 59.00, a price-to-earnings-growth ratio of 1.41 and a beta of 1.07.

Quanta Services (NYSE:PWR) last announced its quarterly earnings results on Thursday, May 1st. The construction company reported $1.78 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.72 by $0.06. The business had revenue of $6.23 billion for the quarter, compared to the consensus estimate of $5.88 billion. Quanta Services had a return on equity of 18.00% and a net margin of 3.82%. The business’s revenue was up 23.9% on a year-over-year basis. During the same quarter last year, the business posted $1.41 EPS. Sell-side analysts expect that Quanta Services, Inc. will post 9.34 earnings per share for the current fiscal year.

Quanta Services Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, July 11th. Stockholders of record on Tuesday, July 1st will be given a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a dividend yield of 0.11%. The ex-dividend date is Tuesday, July 1st. Quanta Services’s dividend payout ratio (DPR) is presently 6.45%.

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.