Howard Capital Management Inc. Boosts Holdings in Quanta Services, Inc. $PWR

Howard Capital Management Inc. increased its holdings in Quanta Services, Inc. (NYSE:PWR) by 14.9% in the third quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 15,910 shares of the construction company’s stock after purchasing 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.

A number of other large investors also recently added to or reduced their stakes in the business. Vanguard Group Inc. increased its holdings in shares of Quanta Services by 1.9% in the second quarter. Vanguard Group Inc. now owns 17,756,682 shares of the construction company’s stock worth $6,713,446,000 after buying an additional 339,383 shares during the period. JPMorgan Chase & Co. increased its stake in Quanta Services by 0.7% in the 2nd quarter. JPMorgan Chase & Co. now owns 6,821,962 shares of the construction company’s stock worth $2,579,259,000 after purchasing an additional 49,334 shares during the period. State Street Corp lifted its position in Quanta Services by 0.4% in the second quarter. State Street Corp now owns 6,007,287 shares of the construction company’s stock valued at $2,271,235,000 after purchasing an additional 24,669 shares during the last quarter. Geode Capital Management LLC boosted its stake in shares of Quanta Services by 4.1% during the second quarter. Geode Capital Management LLC now owns 3,873,293 shares of the construction company’s stock valued at $1,458,362,000 after purchasing an additional 152,823 shares during the period. Finally, DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main grew its holdings in shares of Quanta Services by 57.2% in the second quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 2,425,436 shares of the construction company’s stock worth $917,009,000 after purchasing an additional 882,209 shares during the last quarter. Hedge funds and other institutional investors own 90.49% of the company’s stock.

Insider Buying and Selling at Quanta Services

In other news, Director Worthing Jackman sold 6,349 shares of the company’s stock in a transaction dated Wednesday, November 5th. The shares were sold at an average price of $450.45, for a total value of $2,859,907.05. Following the sale, the director directly owned 2,730 shares of the company’s stock, valued at $1,229,728.50. This represents a 69.93% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Gerald A. Ducey, Jr. sold 7,653 shares of Quanta Services stock in a transaction dated Thursday, November 6th. The shares were sold at an average price of $446.08, for a total transaction of $3,413,850.24. Following the transaction, the insider directly owned 19,960 shares of the company’s stock, valued at approximately $8,903,756.80. This trade represents a 27.72% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 32,002 shares of company stock valued at $14,295,857 over the last 90 days. 1.10% of the stock is owned by corporate insiders.

Quanta Services Stock Down 1.8%

PWR stock opened at $474.80 on Friday. Quanta Services, Inc. has a fifty-two week low of $227.08 and a fifty-two week high of $489.05. The company has a market capitalization of $70.80 billion, a price-to-earnings ratio of 70.34, a price-to-earnings-growth ratio of 2.34 and a beta of 1.16. The business’s 50 day moving average price is $448.17 and its two-hundred day moving average price is $422.30. The company has a debt-to-equity ratio of 0.66, a quick ratio of 1.30 and a current ratio of 1.34.

Quanta Services (NYSE:PWR) last released its quarterly earnings results on Thursday, October 30th. The construction company reported $3.33 earnings per share for the quarter, beating the consensus estimate of $3.24 by $0.09. The company had revenue of $7.63 billion for the quarter, compared to analyst estimates of $7.41 billion. Quanta Services had a return on equity of 18.74% and a net margin of 3.74%.The firm’s revenue was up 17.5% on a year-over-year basis. During the same period in the previous year, the company posted $2.72 earnings per share. As a group, analysts forecast that Quanta Services, Inc. will post 9.34 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of equities research analysts recently commented on PWR shares. Truist Financial upped their price target on shares of Quanta Services from $472.00 to $521.00 and gave the company a “buy” rating in a report on Wednesday, October 8th. Weiss Ratings upgraded shares of Quanta Services from a “hold (c+)” rating to a “buy (b-)” rating in a report on Monday, January 12th. Citigroup raised their target price on Quanta Services from $526.00 to $540.00 and gave the stock a “buy” rating in a research note on Monday. Sanford C. Bernstein lowered their price target on Quanta Services from $432.00 to $428.00 and set a “market perform” rating for the company in a research report on Friday, December 19th. Finally, Mizuho set a $415.00 price objective on Quanta Services in a research report on Tuesday, October 28th. Thirteen analysts have rated the stock with a Buy rating and seven have given a Hold rating to the company. According to MarketBeat, Quanta Services presently has a consensus rating of “Moderate Buy” and a consensus price target of $462.00.

Quanta Services Company Profile

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.