Howard Capital Management Inc. Expands Holdings in Quanta Services, Inc.

Howard Capital Management Inc. has significantly increased its position in shares of Quanta Services, Inc. (NYSE:PWR - Free Report) by 37.1% during the fourth quarter. According to the latest 13F filing with the Securities and Exchange Commission (SEC), the fund now owns a total of 9,919 shares of the construction company's stock after acquiring an additional 2,686 shares in that quarter. The current value of Howard Capital Management Inc.'s holdings in Quanta Services stands at approximately $3,135,000 based on the most recent SEC filing.

Quanta Services Stock Updates:

• Quanta Services is positioned as an Infrastructure Power Grid play.

Several other hedge funds have also recently altered their investment strategies concerning Quanta Services. For instance, Swedbank AB boosted its stake in Quanta Services by 4.6% during the third quarter and now holds 960,081 shares valued at $286,248,000 after purchasing an additional 42,579 shares. Additionally, Eastern Bank took a new position in Quanta Services during the same quarter valued at about $44,000. International Assets Investment Management LLC made a notable increase of 29,655.3% in its stake, holding 148,479 shares valued at $44,269,000 after acquiring an additional 147,980 shares.

IFM Investors Pty Ltd also raised its stake by 1.8%, now owning 29,663 shares valued at $8,844,000 after an additional purchase of 534 shares. Lastly, Assenagon Asset Management S.A. increased its stake in Quanta Services by 10.9%, resulting in ownership of 5,349 shares worth $1,595,000 after buying 526 additional shares. Currently, about 90.49% of Quanta Services' stock is owned by hedge funds and institutional investors.

Analyst Opinions on Quanta Services

Quanta Services (NYSE:PWR) has been discussed in several analyst reports recently. For example, Daiwa Capital Markets initiated coverage, giving the stock an "outperform" rating and a target price of $355.00 on December 6th. Conversely, Guggenheim initiated their coverage with a "neutral" rating. Truist Financial adjusted their target price from $399.00 to $398.00, maintaining a "buy" rating, while Stifel Nicolaus raised their target to $388.00 and confirmed a "buy" rating in a report published on January 22nd. Roth Capital also promoted Quanta Services to a "strong-buy" rating in their latest analysis. Overall, four investment analysts have issued hold ratings, sixteen have given buy ratings, and two analysts have provided strong buy ratings for the stock. According to MarketBeat.com, the company has an average rating of "Moderate Buy" with a consensus target price of $331.53.

Quanta Services Stock Performance Overview

As of the last trading day, NYSE PWR opened at $269.75. The company boasts a significant market cap of $39.82 billion, a price-to-earnings ratio of 44.73, and a price-to-earnings-growth ratio of 1.41, with a beta value of 1.05. The stock’s 50-day simple moving average is $316.02, while its 200-day simple moving average stands at $305.58. Quanta Services recorded a 1-year low of $221.07 and a high of $365.88. The company shows a debt-to-equity ratio of 0.56 and maintains a current ratio of 1.30 and a quick ratio of 1.19.

Quanta Services last reported its earnings on February 20th, where they announced an earnings per share (EPS) of $2.74 for the quarter, surpassing the consensus forecast of $2.62 by $0.12. The return on equity stood at 18.00%, and the net margin was 3.82%. Total revenue for the quarter reached $6.55 billion, slightly below the estimated $6.61 billion. Analysts anticipate that Quanta Services, Inc. will achieve an EPS of 9.34 for the current fiscal year.

About Quanta Services, Inc.

Quanta Services, Inc. offers comprehensive infrastructure solutions for a range of industries, including electric and gas utilities, renewable energy, communications, and pipeline sectors across the United States, Canada, Australia, and internationally. Their Electric Power Infrastructure Solutions segment specializes in a variety of services, including the design, procurement, construction, and maintenance of electric power transmission and distribution infrastructure, as well as the installation of smart grid technologies.

For those looking for more detailed information about hedge funds' activities with Quanta Services, various financial resources can be consulted to stay updated on the latest trends.

Quanta, Investment, Stocks