Howard Capital Management Inc. Raises Stock Holdings in Quanta Services, Inc. (NYSE:PWR)

Howard Capital Management Inc. increased its stake in shares of Quanta Services, Inc. (NYSE:PWR) by 37.1% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 9,919 shares of the construction company’s stock after purchasing an additional 2,686 shares during the quarter. Howard Capital Management Inc.’s holdings in Quanta Services were worth $3,135,000 as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in the stock. Swedbank AB raised its stake in Quanta Services by 4.6% in the third quarter. Swedbank AB now owns 960,081 shares of the construction company’s stock valued at $286,248,000 after buying an additional 42,579 shares during the last quarter. Eastern Bank purchased a new stake in Quanta Services in the third quarter valued at about $44,000. International Assets Investment Management LLC raised its stake in Quanta Services by 29,655.3% in the third 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 last quarter. IFM Investors Pty Ltd raised its stake in Quanta Services by 1.8% in the third quarter. IFM Investors Pty Ltd now owns 29,663 shares of the construction company’s stock valued at $8,844,000 after buying an additional 534 shares during the last quarter. Finally, Assenagon Asset Management S.A. raised its stake in Quanta Services by 10.9% in the third quarter. Assenagon Asset Management S.A. now owns 5,349 shares of the construction company’s stock valued at $1,595,000 after buying an additional 526 shares during the last quarter. 90.49% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

PWR has been the topic of several analyst reports. Daiwa Capital Markets initiated coverage on Quanta Services in a report on Friday, December 6th. They set an “outperform” rating and a $355.00 target price on the stock. Guggenheim initiated coverage on Quanta Services in a report on Wednesday, January 8th. They set a “neutral” rating on the stock. Truist Financial dropped their target price on Quanta Services from $399.00 to $398.00 and set a “buy” rating on the stock in a report on Thursday, January 16th. Stifel Nicolaus raised their target price on Quanta Services from $374.00 to $388.00 and gave the stock a “buy” rating in a report on Wednesday, January 22nd. Finally, Roth Capital raised Quanta Services to a “strong-buy” rating in a report on Thursday. Four investment analysts have rated the stock with a hold rating, sixteen have given a buy rating and two have given a strong buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $331.53.

Quanta Services Stock Performance

NYSE PWR opened at $269.75 on Friday. The company has a market cap of $39.82 billion, a PE ratio of 44.73, a price-to-earnings-growth ratio of 1.41 and a beta of 1.05. The stock’s 50 day simple moving average is $316.02 and its 200-day simple moving average is $305.58. Quanta Services, Inc. has a 1-year low of $221.07 and a 1-year high of $365.88. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.30 and a quick ratio of 1.19.

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

Quanta Services Profile

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.