Wolverine Asset Management LLC Takes Position in Quanta Services, Inc. (NYSE:PWR)

Wolverine Asset Management LLC acquired a new position in Quanta Services, Inc. (NYSE:PWR) during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 4,000 shares of the construction company’s stock, valued at approximately $1,193,000.

Several other hedge funds and other institutional investors have also modified their holdings of the stock. Vanguard Group Inc. boosted its stake in shares of Quanta Services by 0.6% in the 1st quarter. Vanguard Group Inc. now owns 16,341,230 shares of the construction company’s stock valued at $4,245,452,000 after purchasing an additional 105,355 shares in the last quarter. Wealth Enhancement Advisory Services LLC boosted its position in Quanta Services by 5.7% during the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 36,862 shares of the construction company’s stock worth $9,366,000 after acquiring an additional 1,981 shares during the last quarter. Cetera Investment Advisers boosted its position in Quanta Services by 115.0% during the 1st quarter. Cetera Investment Advisers now owns 39,274 shares of the construction company’s stock worth $10,203,000 after acquiring an additional 21,003 shares during the last quarter. Czech National Bank raised its stake in shares of Quanta Services by 8.9% during the 2nd quarter. Czech National Bank now owns 27,827 shares of the construction company’s stock worth $7,071,000 after purchasing an additional 2,264 shares in the last quarter. Finally, EverSource Wealth Advisors LLC raised its stake in Quanta Services by 892.2% in the 1st quarter. EverSource Wealth Advisors LLC now owns 1,012 shares of the construction company’s stock valued at $262,000 after acquiring an additional 910 shares during the period. Institutional investors and hedge funds own 90.49% of the company’s stock.

Quanta Services Stock Down 0.7 %

Shares of NYSE:PWR opened at $327.37 on Wednesday. Quanta Services, Inc. has a 52-week low of $173.62 and a 52-week high of $335.00. The firm has a market capitalization of $48.32 billion, a P/E ratio of 60.40 and a beta of 1.01. The stock has a 50 day moving average price of $297.41 and a 200-day moving average price of $276.44. The company has a debt-to-equity ratio of 0.58, a quick ratio of 1.19 and a current ratio of 1.23.

Quanta Services (NYSE:PWR) last posted 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 return on equity of 16.71% and a net margin of 3.54%. The company had revenue of $6.49 billion during the quarter, compared to analyst estimates of $6.56 billion. During the same quarter last year, the company earned $2.08 EPS. The firm’s revenue for the quarter was up 15.5% on a year-over-year basis. As a group, equities research analysts anticipate that Quanta Services, Inc. will post 7.88 EPS for the current fiscal year.

Quanta Services Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, October 11th. Investors of record on Tuesday, October 1st were issued a $0.09 dividend. This represents a $0.36 annualized dividend and a dividend yield of 0.11%. The ex-dividend date was Tuesday, October 1st. Quanta Services’s payout ratio is currently 6.64%.

Wall Street Analyst Weigh In

PWR has been the topic of a number of research analyst reports. JPMorgan Chase & Co. assumed coverage on Quanta Services in a research note on Monday, October 7th. They issued a “neutral” rating and a $297.00 price target on the stock. Wolfe Research began coverage on Quanta Services in a report on Thursday, September 19th. They set an “outperform” rating and a $313.00 target price on the stock. Northland Securities reissued an “outperform” rating and set a $328.00 target price (up from $280.00) on shares of Quanta Services in a report on Friday, November 1st. UBS Group raised their price objective on Quanta Services from $313.00 to $367.00 and gave the company a “buy” rating in a research note on Wednesday, October 23rd. Finally, Jefferies Financial Group began coverage on Quanta Services in a research note on Wednesday, September 4th. They issued a “hold” rating and a $256.00 price objective on the stock. Four equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $314.27.

Insider Buying and Selling

In related news, insider Karl W. Studer sold 23,357 shares of Quanta Services stock in a transaction on Wednesday, August 21st. The stock was sold at an average price of $270.51, for a total value of $6,318,302.07. Following the completion of the sale, the insider now owns 10,631 shares of the company’s stock, valued at $2,875,791.81. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. 1.10% of the stock is currently owned by corporate insiders.

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.