Wolverine Asset Management LLC Takes $1.19 Million Position in Quanta Services, Inc. (NYSE:PWR)

Wolverine Asset Management LLC acquired a new stake in shares of Quanta Services, Inc. (NYSE:PWR) during the 3rd quarter, according to its most recent disclosure with the SEC. The fund acquired 4,000 shares of the construction company’s stock, valued at approximately $1,193,000.

Several other large investors have also bought and sold shares of the company. Peregrine Asset Advisers Inc. raised its holdings in Quanta Services by 0.6% in the 3rd quarter. Peregrine Asset Advisers Inc. now owns 15,928 shares of the construction company’s stock worth $4,749,000 after acquiring an additional 89 shares during the last quarter. Ashton Thomas Securities LLC purchased a new stake in shares of Quanta Services in the 3rd quarter worth $96,000. Legacy Capital Wealth Partners LLC purchased a new stake in Quanta Services in the 3rd quarter worth $749,000. Arrow Financial Corp increased its stake in Quanta Services by 76.1% in the 3rd quarter. Arrow Financial Corp now owns 3,181 shares of the construction company’s stock worth $948,000 after buying an additional 1,375 shares in the last quarter. Finally, Assetmark Inc. boosted its holdings in shares of Quanta Services by 7.3% during the 3rd quarter. Assetmark Inc. now owns 5,781 shares of the construction company’s stock valued at $1,723,000 after purchasing an additional 392 shares during the last quarter. 90.49% of the stock is owned by institutional investors.

Insider Buying and Selling

In other Quanta Services news, insider Karl W. Studer sold 23,357 shares of the business’s stock in a transaction on Wednesday, August 21st. The shares were sold at an average price of $270.51, for a total transaction of $6,318,302.07. Following the completion of the sale, the insider now owns 10,631 shares in the company, valued at $2,875,791.81. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Insiders own 1.10% of the company’s stock.

Wall Street Analyst Weigh In

PWR has been the subject of a number of analyst reports. JPMorgan Chase & Co. started coverage on shares of Quanta Services in a report on Monday, October 7th. They issued a “neutral” rating and a $297.00 price target for the company. Citigroup raised their target price on shares of Quanta Services from $302.00 to $348.00 and gave the stock a “buy” rating in a research report on Friday, October 4th. Jefferies Financial Group initiated coverage on shares of Quanta Services in a report on Wednesday, September 4th. They set a “hold” rating and a $256.00 price objective on the stock. Northland Securities reaffirmed an “outperform” rating and issued a $328.00 price target (up from $280.00) on shares of Quanta Services in a report on Friday, November 1st. Finally, Truist Financial lifted their price objective on shares of Quanta Services from $319.00 to $358.00 and gave the stock a “buy” rating in a research note on Wednesday, October 9th. Four analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $314.27.

Quanta Services Stock Performance

Shares of NYSE PWR opened at $327.37 on Wednesday. The company has a market cap of $48.32 billion, a PE ratio of 60.40 and a beta of 1.01. Quanta Services, Inc. has a 12 month low of $173.62 and a 12 month high of $335.00. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.23 and a quick ratio of 1.19. The company has a 50-day simple moving average of $297.41 and a 200-day simple moving average of $276.44.

Quanta Services (NYSE:PWR) last released its earnings results on Thursday, October 31st. The construction company reported $2.72 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.46 by $0.26. The firm had revenue of $6.49 billion during the quarter, compared to the consensus estimate of $6.56 billion. Quanta Services had a net margin of 3.54% and a return on equity of 16.71%. Quanta Services’s revenue was up 15.5% compared to the same quarter last year. During the same period in the previous year, the firm earned $2.08 earnings per share. On average, equities analysts anticipate that Quanta Services, Inc. will post 7.88 earnings per share for the current year.

Quanta Services Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, October 11th. Investors of record on Tuesday, October 1st were paid a $0.09 dividend. The ex-dividend date of this dividend was Tuesday, October 1st. This represents a $0.36 dividend on an annualized basis and a dividend yield of 0.11%. Quanta Services’s dividend payout ratio (DPR) is presently 6.64%.

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.