Howard Capital Management Inc. Acquires 3,029 Shares of Quanta Services, Inc. (NYSE:PWR)

Howard Capital Management Inc. increased its holdings in shares of Quanta Services, Inc. (NYSE:PWR) by 231.8% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,336 shares of the construction company’s stock after purchasing an additional 3,029 shares during the period. Howard Capital Management Inc.’s holdings in Quanta Services were worth $1,102,000 at the end of the most recent quarter.

Several other institutional investors have also modified their holdings of the business. Artisan Partners Limited Partnership raised its position in Quanta Services by 384.9% in the 4th quarter. Artisan Partners Limited Partnership now owns 2,438,653 shares of the construction company’s stock valued at $526,261,000 after buying an additional 1,935,786 shares during the last quarter. Norges Bank acquired a new stake in Quanta Services in the 4th quarter valued at approximately $335,777,000. Public Employees Retirement Association of Colorado raised its position in Quanta Services by 20,298.9% in the 4th quarter. Public Employees Retirement Association of Colorado now owns 1,057,681 shares of the construction company’s stock valued at $228,248,000 after buying an additional 1,052,496 shares during the last quarter. Swedbank AB acquired a new position in shares of Quanta Services during the 1st quarter worth approximately $227,218,000. Finally, Capital World Investors increased its position in shares of Quanta Services by 10.7% during the 1st quarter. Capital World Investors now owns 6,643,733 shares of the construction company’s stock worth $1,726,042,000 after purchasing an additional 643,011 shares during the last quarter. Institutional investors own 90.49% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on the company. Northland Securities upped their price objective on Quanta Services from $264.00 to $280.00 and gave the company an “outperform” rating in a report on Friday, August 2nd. The Goldman Sachs Group increased their target price on Quanta Services from $259.00 to $286.00 and gave the stock a “buy” rating in a report on Tuesday, May 28th. TD Cowen increased their target price on Quanta Services from $270.00 to $280.00 and gave the stock a “buy” rating in a report on Thursday, August 8th. Jefferies Financial Group assumed coverage on Quanta Services in a report on Wednesday. They set a “hold” rating and a $256.00 target price on the stock. Finally, Citigroup increased their target price on Quanta Services from $299.00 to $302.00 and gave the stock a “buy” rating in a report on Monday, July 22nd. Four investment analysts have rated the stock with a hold rating and ten have given a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $284.50.

Quanta Services Price Performance

Quanta Services stock opened at $247.90 on Friday. The company has a current ratio of 1.30, a quick ratio of 1.25 and a debt-to-equity ratio of 0.45. The company has a market capitalization of $36.29 billion, a PE ratio of 48.04 and a beta of 1.01. Quanta Services, Inc. has a 12 month low of $153.74 and a 12 month high of $286.87. The stock has a 50-day moving average price of $259.33 and a two-hundred day moving average price of $258.84.

Quanta Services (NYSE:PWR) last issued its quarterly earnings data on Thursday, August 1st. The construction company reported $1.90 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.75 by $0.15. Quanta Services had a return on equity of 16.29% and a net margin of 3.59%. The company had revenue of $5.59 billion during the quarter, compared to the consensus estimate of $5.51 billion. During the same period last year, the company earned $1.47 earnings per share. The firm’s revenue was up 10.8% compared to the same quarter last year. Analysts expect that Quanta Services, Inc. will post 7.78 EPS for the current year.

Quanta Services Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, October 11th. Stockholders of record on Tuesday, October 1st will be given a dividend of $0.09 per share. The ex-dividend date is Tuesday, October 1st. This represents a $0.36 dividend on an annualized basis and a dividend yield of 0.15%. Quanta Services’s dividend payout ratio (DPR) is 6.98%.

Insider Transactions at Quanta Services

In other news, CEO Earl C. Jr. Austin sold 130,000 shares of the firm’s stock in a transaction dated Wednesday, August 14th. The stock was sold at an average price of $262.21, for a total transaction of $34,087,300.00. Following the completion of the transaction, the chief executive officer now directly owns 593,402 shares in the company, valued at $155,595,938.42. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other Quanta Services news, insider Karl W. Studer sold 23,357 shares of Quanta Services stock in a transaction that occurred on Wednesday, August 21st. The stock was sold at an average price of $270.51, for a total value of $6,318,302.07. Following the completion of the sale, the insider now directly owns 10,631 shares in the company, valued at $2,875,791.81. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Earl C. Jr. Austin sold 130,000 shares of Quanta Services stock in a transaction that occurred on Wednesday, August 14th. The stock was sold at an average price of $262.21, for a total value of $34,087,300.00. Following the completion of the sale, the chief executive officer now owns 593,402 shares of the company’s stock, valued at $155,595,938.42. The disclosure for this sale can be found here. Insiders sold 202,357 shares of company stock worth $53,115,572 over the last ninety days. 1.10% of the stock is owned by insiders.

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.