NEW YORK (TheStreet) -- Are there quality growth stocks out there? TheStreet's Gregg Greenberg discusses a few of them with Edward Painvin, portfolio manager for the Chase Growth Fund.Painvin's first pick is Visa ( V - Get Report), which is up over 50% in the last year and, as Greenberg pointed out, is now trading at 22 times next year's earnings. While it may seem expensive, Painvin notes that Visa controls 22% of the personal consumption market, and the move from cash and checks to plastic is only going to grow in the coming years. Precision Castparts ( PCP) is another name his fund continues to like. The company makes parts for Boeing's ( BA - Get Report) 787 Dreamliner and Airbus's A380. Of the $200 million Dreamliner, about $10 million of that cost went to parts from Precision Castparts. Painvin says production is expected to increase to 10 planes per month by the end of the year, a significant boost from the current five to seven plane rate. The fund also likes Actavis ( ACT), after its recent acquisition of Warner Chilcott ( WCRX), which should help extends its specialty brands, especially among women. Finally, one of his favorite picks is Thermo Fisher Scientific ( TMO - Get Report), despite the 70% run in the past year. While it may seem extended, Painvin said the earnings and price momentum measurements remain favorable. He also pointed out that Thermo Fisher should add $1 to its 2014 earnings per share figure with its focus on food safety, water treatment, and scientific development. These focuses are in long-term secular trends and should continue to reward shareholders down the road. -- Written by Bret Kenwell in Petoskey, Mich. Follow @traderboy23
TheStreet’s Fundamentals of Investing Course will teach you the keys to making the right decisions in any market.
TheStreet’s Personal Finance Essentials Course will teach you money management basics and investing strategies to help you avoid major financial pitfalls.
TheStreet Courses offers dedicated classes designed to improve your investing skills, stock market knowledge and money management capabilities.
More from Opinion
Pinterest's Earnings Report Doesn't Justify Pressing the Panic Button
The social media platform's guidance isn't that bad in light of its spending and growth strategy, and some of its first-quarter numbers were pretty solid.
Cisco: Despite Another Strong Quarter, Stock Could Stall
High valuations and earnings growth supported primarily by share repurchases suggest that Cisco's stock may take a break from its recent run-up.
Disney's Earnings: A Five-Year Growth Story Is Unfolding
Should Disney execute well on its transition plan over the next few years, an investment in the stock at current levels will likely be properly justified, proving the forward earnings multiple of 20x to be overly conservative.
Forget 'Connected Cars,' VW Could Make a Killing Building Disconnected Ones
There may be a good market for people who don't want cars that can follow them around.
Square Tumbles as Results Are Not Enough to Support Sky-High Valuations
To get behind Square's stock at a staggering forward EV-to-EBITDA of 72x, investors expect to be impressed by the company's results. This does not seem to have been the case in the most recent quarter.