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

Wolverine Asset Management LLC lessened its position in Quanta Services, Inc. (NYSE:PWR) by 50.0% during the 4th quarter, Holdings Channel.com reports. The institutional investor 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 quarter.

Several other institutional investors and hedge funds have also recently modified their holdings of PWR. Alkeon Capital Management LLC raised its holdings in shares of Quanta Services by 62.5% in the 3rd quarter. Alkeon Capital Management LLC now owns 650,000 shares of the construction company’s stock valued at $193,798,000 after buying an additional 250,000 shares during the period. Union Bancaire Privee UBP SA purchased a new stake in shares of Quanta Services in the 4th quarter valued at $46,364,000. International Assets Investment Management LLC raised its holdings in shares of Quanta Services by 29,655.3% in the 3rd quarter. International Assets Investment Management LLC now owns 148,479 shares of the construction company’s stock valued at $44,269,000 after buying an additional 147,980 shares during the period. Public Sector Pension Investment Board raised its holdings in shares of Quanta Services by 81.7% in the 3rd quarter. Public Sector Pension Investment Board now owns 279,089 shares of the construction company’s stock valued at $83,210,000 after buying an additional 125,530 shares during the period. Finally, Meitav Investment House Ltd. acquired a new position in Quanta Services during the 3rd quarter worth $27,430,000. Hedge funds and other institutional investors own 90.49% of the company’s stock.

Wall Street Analysts Forecast Growth

PWR has been the subject of several analyst reports. Guggenheim initiated coverage on Quanta Services in a research note on Wednesday, January 8th. They set a “neutral” rating for the company. Northland Securities reissued an “outperform” rating and set a $328.00 target price (up from $280.00) on shares of Quanta Services in a research note on Friday, November 1st. Truist Financial lowered their target price 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. Daiwa Capital Markets initiated coverage on Quanta Services in a research note on Friday, December 6th. They set an “outperform” rating and a $355.00 target price for the company. Finally, Citigroup lowered their target price on Quanta Services from $394.00 to $371.00 and set a “buy” rating for the company in a research note on Wednesday, January 29th. Four investment analysts have rated the stock with a hold rating, sixteen have issued a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $331.53.

Quanta Services Stock Performance

Shares of PWR stock opened at $269.75 on Friday. The company has a market cap of $39.82 billion, a price-to-earnings ratio of 44.73, a price-to-earnings-growth ratio of 1.41 and a beta of 1.05. The stock has a 50 day simple moving average of $316.02 and a 200-day simple moving average of $305.58. Quanta Services, Inc. has a 12-month low of $221.07 and a 12-month high of $365.88. The company has a current ratio of 1.30, a quick ratio of 1.19 and a debt-to-equity ratio of 0.56.

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

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.