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

Wolverine Asset Management LLC acquired a new position in shares of Quanta Services, Inc. (NYSE:PWR - Free Report) in the third quarter, according to the company in its most recent disclosure with the SEC. The firm acquired 4,000 shares of the construction company's stock, valued at approximately $1,193,000.

Other institutional investors have also recently added to or reduced their stakes in the company. EntryPoint Capital LLC purchased a new position in shares of Quanta Services in the first quarter valued at approximately $25,000. Cambridge Trust Co. acquired a new position in shares of Quanta Services in the first quarter worth $26,000. Valley Wealth Managers Inc. purchased a new stake in shares of Quanta Services during the second quarter worth $33,000. Quest Partners LLC acquired a new stake in shares of Quanta Services in the second quarter valued at $35,000. Finally, CarsonAllaria Wealth Management Ltd. purchased a new position in Quanta Services in the second quarter valued at $38,000. Institutional investors and hedge funds own 90.49% of the company's stock.

Quanta Services Trading Down 0.0 %

PWR traded down $0.10 during trading on Wednesday, hitting $327.17. 941,705 shares of the company's stock were exchanged, compared to its average volume of 896,897. The stock has a 50 day moving average price of $298.84 and a 200 day moving average price of $276.79. Quanta Services, Inc. has a 1 year low of $179.57 and a 1 year high of $335.00. The company has a current ratio of 1.23, a quick ratio of 1.19 and a debt-to-equity ratio of 0.58. The firm has a market cap of $48.29 billion, a P/E ratio of 60.36 and a beta of 1.01.

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

Quanta Services Announces Dividend

The firm 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. 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 dividend payout ratio (DPR) is 6.64%.

Insider Activity at Quanta Services

In other news, insider Karl W. Studer sold 23,357 shares of the firm's stock in a transaction that occurred 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 of the company's stock, valued at approximately $2,875,791.81. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 1.10% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

A number of analysts have weighed in on PWR shares. Northland Securities restated an "outperform" rating and issued a $328.00 price target (up from $280.00) on shares of Quanta Services in a research note on Friday, November 1st. Citigroup raised their price objective on shares of Quanta Services from $302.00 to $348.00 and gave the stock a "buy" rating in a report on Friday, October 4th. Jefferies Financial Group began coverage on Quanta Services in a report on Wednesday, September 4th. They set a "hold" rating and a $256.00 price target for the company. TD Cowen lifted their target price on shares of Quanta Services from $280.00 to $335.00 and gave the company a "buy" rating in a report on Tuesday, October 15th. Finally, Wolfe Research began coverage on shares of Quanta Services in a research report on Thursday, September 19th. They issued an "outperform" rating and a $313.00 price objective for the company. Four equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company's stock. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $314.27.

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.