Howard Capital Management Inc. Buys 2,060 Shares of Quanta Services, Inc. $PWR

Howard Capital Management Inc. raised its stake in Quanta Services, Inc. (NYSE:PWR) by 14.9% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 15,910 shares of the construction company’s stock after acquiring an additional 2,060 shares during the period. Howard Capital Management Inc.’s holdings in Quanta Services were worth $6,593,000 as of its most recent SEC filing.

Several other large investors have also recently modified their holdings of PWR. Copia Wealth Management increased its stake in Quanta Services by 509.1% during the 2nd quarter. Copia Wealth Management now owns 67 shares of the construction company’s stock valued at $25,000 after purchasing an additional 56 shares in the last quarter. SOA Wealth Advisors LLC. grew its holdings in shares of Quanta Services by 159.3% during the second quarter. SOA Wealth Advisors LLC. now owns 70 shares of the construction company’s stock valued at $26,000 after buying an additional 43 shares during the last quarter. Darwin Wealth Management LLC bought a new stake in shares of Quanta Services during the second quarter valued at approximately $26,000. Activest Wealth Management raised its holdings in Quanta Services by 94.1% in the 3rd quarter. Activest Wealth Management now owns 66 shares of the construction company’s stock worth $27,000 after acquiring an additional 32 shares during the last quarter. Finally, Solstein Capital LLC lifted its position in Quanta Services by 185.7% in the 2nd quarter. Solstein Capital LLC now owns 80 shares of the construction company’s stock valued at $30,000 after acquiring an additional 52 shares in the last quarter. Hedge funds and other institutional investors own 90.49% of the company’s stock.

Quanta Services Price Performance

NYSE PWR opened at $474.80 on Friday. The company has a 50-day moving average price of $448.17 and a 200-day moving average price of $422.30. Quanta Services, Inc. has a 52 week low of $227.08 and a 52 week high of $489.05. The company has a quick ratio of 1.30, a current ratio of 1.34 and a debt-to-equity ratio of 0.66. The firm has a market capitalization of $70.80 billion, a P/E ratio of 70.34, a PEG ratio of 2.34 and a beta of 1.16.

Quanta Services (NYSE:PWR) last announced its earnings results on Thursday, October 30th. The construction company reported $3.33 EPS for the quarter, beating analysts’ consensus estimates of $3.24 by $0.09. Quanta Services had a net margin of 3.74% and a return on equity of 18.74%. The business had revenue of $7.63 billion during the quarter, compared to analysts’ expectations of $7.41 billion. During the same period in the prior year, the company earned $2.72 earnings per share. The firm’s revenue was up 17.5% on a year-over-year basis. Equities research analysts anticipate that Quanta Services, Inc. will post 9.34 earnings per share for the current year.

Insider Buying and Selling

In other news, insider Gerald A. Ducey, Jr. sold 7,653 shares of the company’s stock in a transaction on Thursday, November 6th. The stock was sold at an average price of $446.08, for a total value of $3,413,850.24. Following the completion of the sale, the insider directly owned 19,960 shares in the company, valued at $8,903,756.80. This represents a 27.72% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, EVP Donald Wayne sold 14,000 shares of Quanta Services stock in a transaction on Thursday, November 6th. The shares were sold at an average price of $443.81, for a total value of $6,213,340.00. Following the transaction, the executive vice president owned 34,575 shares in the company, valued at $15,344,730.75. This trade represents a 28.82% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders have sold 32,002 shares of company stock valued at $14,295,857. Company insiders own 1.10% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have commented on the company. Jefferies Financial Group decreased their price target on Quanta Services from $517.00 to $506.00 and set a “buy” rating for the company in a research note on Tuesday, January 13th. Cantor Fitzgerald started coverage on Quanta Services in a research report on Friday, January 23rd. They issued an “overweight” rating and a $520.00 target price for the company. Argus set a $540.00 price target on shares of Quanta Services in a report on Friday, October 31st. Sanford C. Bernstein decreased their price objective on shares of Quanta Services from $432.00 to $428.00 and set a “market perform” rating for the company in a report on Friday, December 19th. Finally, Robert W. Baird set a $490.00 price objective on shares of Quanta Services in a research report on Friday, October 31st. Thirteen research analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $462.00.

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.