Quanta Services, Inc. (NYSE:PWR) Shares Bought by Howard Capital Management Inc.

Key Points

• Howard Capital Management Inc. has increased its stake in Quanta Services by 9.9%, owning a total of 10,899 shares valued at approximately $2.77 million.
• Analysts have set a range of price targets for Quanta Services, with Goldman Sachs maintaining a "buy" rating and raising their target to $414.00.
• Quanta Services announced a quarterly dividend of $0.10 per share, with a payout ratio of 6.45%, indicating a stable return for investors.

Howard Capital Management Inc. lifted its holdings in Quanta Services, Inc. (NYSE:PWR - Free Report) by 9.9% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 10,899 shares of the construction company's stock after buying an additional 980 shares during the period. Howard Capital Management Inc.'s holdings in Quanta Services were worth $2,770,000 at the end of the most recent reporting period.

Several other hedge funds have also recently made changes to their positions in the business. Banque Transatlantique SA bought a new position in shares of Quanta Services during the fourth quarter valued at approximately $25,000. Quarry LP purchased a new stake in shares of Quanta Services during the fourth quarter valued at $26,000. Cullen Frost Bankers Inc. bought a new position in shares of Quanta Services in the first quarter worth about $25,000. OLD Second National Bank of Aurora purchased a new position in Quanta Services in the 1st quarter worth about $42,000. Finally, University of Texas Texas AM Investment Management Co. bought a new stake in Quanta Services during the 1st quarter valued at about $43,000. 90.49% of the stock is currently owned by hedge funds and other institutional investors.

Quanta Services Stock Performance

NYSE:PWR traded down $10.95 during midday trading on Friday, hitting $395.18. The company's stock had a trading volume of 2,094,000 shares, compared to its average volume of 1,116,995. Quanta Services, Inc. has a fifty-two week low of $227.08 and a fifty-two week high of $424.94. The company has a debt-to-equity ratio of 0.59, a current ratio of 1.37 and a quick ratio of 1.26. The firm has a market cap of $58.59 billion, a P/E ratio of 61.17, a P/E/G ratio of 2.79 and a beta of 1.08. The firm's 50 day moving average is $375.39 and its 200-day moving average is $319.00.

Quanta Services (NYSE:PWR - Get Free Report) last posted its quarterly earnings results on Thursday, July 31st. The construction company reported $2.48 EPS for the quarter, beating the consensus estimate of $2.44 by $0.04. The company had revenue of $6.77 billion for the quarter, compared to analyst estimates of $6.55 billion. Quanta Services had a net margin of 3.73% and a return on equity of 18.41%. The firm's revenue was up 21.1% on a year-over-year basis. During the same period in the prior year, the company earned $1.90 earnings per share. Equities analysts anticipate that Quanta Services, Inc. will post 9.34 earnings per share for the current fiscal year.

Quanta Services Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, July 11th. Shareholders of record on Tuesday, July 1st were given a $0.10 dividend. This represents a $0.40 annualized dividend and a yield of 0.1%. The ex-dividend date was Tuesday, July 1st. Quanta Services's dividend payout ratio is currently 6.19%.

Analyst Upgrades and Downgrades

PWR has been the topic of a number of research reports. Wall Street Zen raised shares of Quanta Services from a "hold" rating to a "buy" rating in a research report on Friday, June 27th. JPMorgan Chase & Co. increased their price objective on Quanta Services from $345.00 to $392.00 and gave the stock a "neutral" rating in a research note on Tuesday, July 22nd. TD Cowen lifted their target price on Quanta Services from $335.00 to $355.00 and gave the company a "buy" rating in a research report on Wednesday, May 7th. Northland Capmk downgraded Quanta Services from a "strong-buy" rating to a "hold" rating in a research report on Wednesday, July 2nd. Finally, UBS Group lifted their price objective on Quanta Services from $413.00 to $474.00 and gave the company a "buy" rating in a report on Friday, July 25th. Eleven research analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $379.32.

About Quanta Services

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.