I had the same, toppedby a Leupold VXII 6-18x40 target dot. The Howa 1500, in my opinion, was likely the best value of the factory centerfires. I had no problem holding 1/2MOA with 36-64gr loads. It was initially acquired to be a prairie dog gun although I never got to actually shoot prairie dogs with it it basically just ended up being a range toy.
I liked it so much that I ended up getting a 308 in the same platform.