Wolverine Asset Management LLC Invests $622,000 in Quanta Services, Inc. $PWR

Wolverine Asset Management LLC bought a new stake in Quanta Services, Inc. (NYSE:PWR) during the 3rd quarter, Holdings Channel reports. The firm bought 1,500 shares of the construction company’s stock, valued at approximately $622,000.

Several other institutional investors have also added to or reduced their stakes in the company. Norges Bank bought a new position in Quanta Services during the 2nd quarter worth $675,802,000. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main increased its position in Quanta Services by 57.2% during the second quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 2,425,436 shares of the construction company’s stock worth $917,009,000 after acquiring an additional 882,209 shares during the period. Select Equity Group L.P. raised its stake in Quanta Services by 69.3% in the 2nd quarter. Select Equity Group L.P. now owns 1,017,123 shares of the construction company’s stock worth $384,554,000 after purchasing an additional 416,395 shares in the last quarter. Vanguard Group Inc. boosted its holdings in Quanta Services by 1.9% in the 2nd quarter. Vanguard Group Inc. now owns 17,756,682 shares of the construction company’s stock valued at $6,713,446,000 after purchasing an additional 339,383 shares during the period. Finally, Allspring Global Investments Holdings LLC grew its position in shares of Quanta Services by 150.6% during the 2nd quarter. Allspring Global Investments Holdings LLC now owns 419,098 shares of the construction company’s stock worth $156,026,000 after purchasing an additional 251,845 shares in the last quarter. 90.49% of the stock is currently owned by institutional investors.

Insider Activity at Quanta Services

In other Quanta Services news, insider Gerald A. Ducey, Jr. sold 7,653 shares of the business’s stock in a transaction on Thursday, November 6th. The shares were sold at an average price of $446.08, for a total transaction of $3,413,850.24. Following the sale, the insider owned 19,960 shares of the company’s stock, valued at approximately $8,903,756.80. The trade was a 27.72% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Bernard Fried sold 4,000 shares of the company’s stock in a transaction on Monday, November 3rd. The stock was sold at an average price of $452.19, for a total transaction of $1,808,760.00. Following the transaction, the director owned 12,493 shares of the company’s stock, valued at $5,649,209.67. This trade represents a 24.25% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders sold 32,002 shares of company stock valued at $14,295,857. Company insiders own 1.10% of the company’s stock.

Quanta Services Price Performance

Quanta Services stock opened at $466.97 on Friday. The company has a debt-to-equity ratio of 0.66, a quick ratio of 1.30 and a current ratio of 1.34. Quanta Services, Inc. has a 52 week low of $227.08 and a 52 week high of $480.93. The stock has a market capitalization of $69.63 billion, a P/E ratio of 69.18, a price-to-earnings-growth ratio of 2.26 and a beta of 1.16. The stock has a fifty day moving average of $441.10 and a 200-day moving average of $416.26.

Quanta Services (NYSE:PWR) last announced its quarterly earnings data on Thursday, October 30th. The construction company reported $3.33 earnings per share for the quarter, topping the consensus estimate of $3.24 by $0.09. Quanta Services had a return on equity of 18.74% and a net margin of 3.74%.The business had revenue of $7.63 billion during the quarter, compared to the consensus estimate of $7.41 billion. During the same period in the prior year, the company earned $2.72 EPS. Quanta Services’s revenue for the quarter was up 17.5% on a year-over-year basis. Quanta Services has set its FY 2025 guidance at 10.330-10.830 EPS. On average, sell-side analysts expect that Quanta Services, Inc. will post 9.34 earnings per share for the current fiscal year.

Analyst Ratings Changes

PWR has been the subject of a number of analyst reports. The Goldman Sachs Group set a $495.00 price target on shares of Quanta Services in a research report on Monday, November 24th. Weiss Ratings raised Quanta Services from a “hold (c+)” rating to a “buy (b-)” rating in a report on Monday, January 12th. Argus set a $540.00 target price on Quanta Services in a report on Friday, October 31st. Sanford C. Bernstein decreased their price target on Quanta Services from $432.00 to $428.00 and set a “market perform” rating on the stock in a research report on Friday, December 19th. Finally, Truist Financial upped their price objective on shares of Quanta Services from $472.00 to $521.00 and gave the stock a “buy” rating in a research report on Wednesday, October 8th. Fourteen investment analysts have rated the stock with a Buy rating and ten have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $449.57.

About Quanta Services

Quanta Services, Inc is a leading specialty contractor that provides comprehensive infrastructure solutions for the electric power, pipeline and energy, and communications markets. Headquartered in Houston, Texas, the company delivers engineering, procurement, construction, installation, maintenance and repair services that support the development, modernization and ongoing operation of critical energy and communications networks.

In the electric power sector, Quanta works on transmission and distribution systems, substation construction and grid modernization projects that include integration of renewable generation and energy storage.