Bank of America Corp DE Acquires 765,822 Shares of Quanta Services, Inc. $PWR

Key Points

• Bank of America Corp DE raised its stake in Quanta Services by 35.6%, acquiring 765,822 shares in Q3 to hold 2,916,540 shares (about 1.96%) worth roughly $1.21 billion.
• Quanta beat expectations with quarterly EPS of $3.16 vs. $3.02 and revenue of $7.84B (vs. $7.38B), with revenue up 19.7% year‑over‑year, and management set FY2026 guidance of EPS 12.650–13.350.
• Analysts are largely bullish (17 Buy, 7 Hold) with an average target of $576.55 following recent price‑target increases from firms including Truist, Argus and TD Cowen.

Bank of America Corp DE raised its holdings in Quanta Services, Inc. (NYSE:PWR - Free Report) by 35.6% during the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 2,916,540 shares of the construction company's stock after acquiring an additional 765,822 shares during the quarter. Bank of America Corp DE owned approximately 1.96% of Quanta Services worth $1,208,672,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also made changes to their positions in the business. Rothschild Investment LLC grew its holdings in shares of Quanta Services by 2.8% in the third quarter. Rothschild Investment LLC now owns 850 shares of the construction company's stock worth $352,000 after purchasing an additional 23 shares during the last quarter. Northwestern Mutual Investment Management Company LLC lifted its holdings in Quanta Services by 0.5% during the 3rd quarter. Northwestern Mutual Investment Management Company LLC now owns 4,750 shares of the construction company's stock valued at $1,968,000 after buying an additional 23 shares in the last quarter. Wealth Alliance LLC boosted its position in Quanta Services by 1.4% in the 3rd quarter. Wealth Alliance LLC now owns 1,636 shares of the construction company's stock valued at $678,000 after buying an additional 23 shares during the period. Petros Family Wealth LLC grew its stake in Quanta Services by 2.2% in the 3rd quarter. Petros Family Wealth LLC now owns 1,101 shares of the construction company's stock worth $456,000 after acquiring an additional 24 shares in the last quarter. Finally, Montag A & Associates Inc. grew its stake in Quanta Services by 15.2% in the 3rd quarter. Montag A & Associates Inc. now owns 182 shares of the construction company's stock worth $75,000 after acquiring an additional 24 shares in the last quarter. 90.49% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

PWR has been the subject of several research analyst reports. Truist Financial reaffirmed a "buy" rating and set a $643.00 price target (up from $548.00) on shares of Quanta Services in a research note on Friday, February 20th. Weiss Ratings upgraded Quanta Services from a "hold (c+)" rating to a "buy (b-)" rating in a report on Monday, January 12th. Argus upped their target price on Quanta Services from $540.00 to $650.00 and gave the stock a "buy" rating in a report on Tuesday, February 24th. TD Cowen increased their price target on Quanta Services from $425.00 to $570.00 and gave the stock a "buy" rating in a research report on Monday, March 2nd. Finally, Sanford C. Bernstein raised their price target on Quanta Services from $471.00 to $515.00 and gave the company a "market perform" rating in a research note on Tuesday, February 24th. Seventeen analysts have rated the stock with a Buy rating and seven have given a Hold rating to the company's stock. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $576.55.

Quanta Services Stock Performance

Shares of NYSE:PWR opened at $574.81 on Tuesday. The firm has a 50 day moving average of $507.05 and a 200 day moving average of $454.73. The company has a quick ratio of 1.09, a current ratio of 1.14 and a debt-to-equity ratio of 0.58. The company has a market capitalization of $86.00 billion, a price-to-earnings ratio of 84.53, a price-to-earnings-growth ratio of 2.54 and a beta of 1.10. Quanta Services, Inc. has a 52 week low of $227.08 and a 52 week high of $576.86.

Quanta Services (NYSE:PWR - Get Free Report) last announced its earnings results on Thursday, February 19th. The construction company reported $3.16 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.02 by $0.14. The business had revenue of $7.84 billion for the quarter, compared to analysts' expectations of $7.38 billion. Quanta Services had a return on equity of 18.10% and a net margin of 3.61%.The business's revenue for the quarter was up 19.7% on a year-over-year basis. During the same quarter last year, the firm earned $2.94 EPS. Quanta Services has set its FY 2026 guidance at 12.650-13.350 EPS. On average, sell-side analysts predict that Quanta Services, Inc. will post 9.34 earnings per share for the current fiscal year.

Quanta Services 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.

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