Howard Capital Management Inc. Increases 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% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 9,919 shares of the construction company’s stock after buying an additional 2,686 shares during the quarter. Howard Capital Management Inc.’s holdings in Quanta Services were worth $3,135,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Wealthspire Advisors LLC raised its position in Quanta Services by 1.9% in the fourth quarter. Wealthspire Advisors LLC now owns 2,034 shares of the construction company’s stock valued at $643,000 after purchasing an additional 37 shares during the period. First Horizon Advisors Inc. raised its position in Quanta Services by 36.9% in the fourth quarter. First Horizon Advisors Inc. now owns 646 shares of the construction company’s stock valued at $204,000 after purchasing an additional 174 shares during the period. Pinnacle Financial Partners Inc raised its position in Quanta Services by 4.6% in the fourth quarter. Pinnacle Financial Partners Inc now owns 51,939 shares of the construction company’s stock valued at $16,401,000 after purchasing an additional 2,302 shares during the period. Navellier & Associates Inc. raised its position in Quanta Services by 6.0% in the fourth quarter. Navellier & Associates Inc. now owns 62,402 shares of the construction company’s stock valued at $19,722,000 after purchasing an additional 3,525 shares during the period. Finally, VisionPoint Advisory Group LLC purchased a new stake in Quanta Services in the fourth quarter valued at $272,000. Hedge funds and other institutional investors own 90.49% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on the company. Roth Mkm assumed coverage on Quanta Services in a research report on Friday. They issued a “buy” rating and a $350.00 target price on the stock. Northland Securities restated an “outperform” rating and issued a $328.00 target price (up previously from $280.00) on shares of Quanta Services in a research report on Friday, November 1st. Stifel Nicolaus lifted their price objective on Quanta Services from $374.00 to $388.00 and gave the company a “buy” rating in a research note on Wednesday, January 22nd. Roth Capital raised Quanta Services to a “strong-buy” rating in a research note on Thursday. Finally, Citigroup dropped their price objective 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 analysts have rated the stock with a hold rating, sixteen have issued a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $331.53.

Quanta Services Trading Down 4.1 %

PWR opened at $269.75 on Friday. Quanta Services, Inc. has a 12 month low of $221.07 and a 12 month high of $365.88. The stock has a market capitalization 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 current ratio of 1.30 and a quick ratio of 1.19. The business has a fifty day moving average price of $316.02 and a 200 day moving average price of $305.58.

Quanta Services (NYSE:PWR) last released its quarterly earnings data on Thursday, February 20th. The construction company reported $2.74 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.62 by $0.12. The business had revenue of $6.55 billion during the quarter, compared to analysts’ expectations of $6.61 billion. Quanta Services had a return on equity of 18.00% and a net margin of 3.82%. Sell-side analysts expect that Quanta Services, Inc. will post 9.34 earnings per share for the current fiscal year.

Quanta Services Company 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.