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

Wolverine Asset Management LLC cut its holdings in Quanta Services, Inc. (NYSE:PWR) by 50.0% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The fund owned 2,000 shares of the construction company’s stock after selling 2,000 shares during the quarter. Wolverine Asset Management LLC’s holdings in Quanta Services were worth $632,000 at the end of the most recent reporting period.

Several other institutional investors have also recently modified their holdings of the company. Geneos Wealth Management Inc. raised its stake in shares of Quanta Services by 0.7% in the fourth quarter. Geneos Wealth Management Inc. now owns 4,167 shares of the construction company’s stock worth $1,317,000 after purchasing an additional 29 shares during the last quarter. Commonwealth Financial Services LLC raised its stake in shares of Quanta Services by 2.6% in the fourth quarter. Commonwealth Financial Services LLC now owns 1,152 shares of the construction company’s stock worth $364,000 after purchasing an additional 29 shares during the last quarter. HB Wealth Management LLC raised its stake in shares of Quanta Services by 0.9% in the fourth quarter. HB Wealth Management LLC now owns 3,323 shares of the construction company’s stock worth $1,050,000 after purchasing an additional 31 shares during the last quarter. Moody Lynn & Lieberson LLC raised its stake in shares of Quanta Services by 0.5% in the fourth quarter. Moody Lynn & Lieberson LLC now owns 6,141 shares of the construction company’s stock worth $1,941,000 after purchasing an additional 32 shares during the last quarter. Finally, Resurgent Financial Advisors LLC raised its stake in shares of Quanta Services by 0.7% in the third quarter. Resurgent Financial Advisors LLC now owns 4,773 shares of the construction company’s stock worth $1,423,000 after purchasing an additional 33 shares during the last quarter. 90.49% of the stock is currently owned by hedge funds and other institutional investors.

Quanta Services Stock Performance

Shares of Quanta Services stock opened at $269.75 on Friday. Quanta Services, Inc. has a one year low of $221.07 and a one year high of $365.88. The company has a market cap of $39.82 billion, a price-to-earnings ratio of 44.73, a PEG ratio of 1.41 and a beta of 1.05. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.19 and a current ratio of 1.30. The business’s 50 day moving average price is $316.02 and its 200 day moving average price is $305.58.

Quanta Services (NYSE:PWR) last announced its quarterly earnings data on Thursday, February 20th. The construction company reported $2.74 EPS for the quarter, topping analysts’ consensus estimates of $2.62 by $0.12. Quanta Services had a return on equity of 18.00% and a net margin of 3.82%. The firm had revenue of $6.55 billion for the quarter, compared to the consensus estimate of $6.61 billion. On average, research analysts predict that Quanta Services, Inc. will post 9.34 EPS for the current year.

Wall Street Analyst Weigh In

PWR has been the subject of several research analyst reports. Truist Financial reduced their price objective on Quanta Services from $399.00 to $398.00 and set a “buy” rating for the company in a research note on Thursday, January 16th. Stifel Nicolaus lifted their price target on Quanta Services from $374.00 to $388.00 and gave the company a “buy” rating in a research report on Wednesday, January 22nd. Northland Securities reiterated an “outperform” rating and set a $328.00 price target (up from $280.00) on shares of Quanta Services in a research report on Friday, November 1st. Daiwa Capital Markets initiated coverage on Quanta Services in a research report on Friday, December 6th. They set an “outperform” rating and a $355.00 price target for the company. Finally, Roth Capital upgraded Quanta Services to a “strong-buy” rating in a research report on Thursday. Four investment analysts have rated the stock with a hold rating, sixteen have issued a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $331.53.

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.