Bank of America Corp DE Has $1.89 Billion Stock Holdings in Quanta Services, Inc. $PWR

Key Points

• Bank of America increased its Quanta Services stake by 5.4% in the first quarter, owning 3.44 million shares worth approximately $1.89 billion, or 2.3% of the company.
• Quanta reported strong quarterly results, with revenue up 41.1% year over year to $9.56 billion and EPS of $4.24, beating analyst expectations. Management raised its 2026 guidance, supported by a record $53.4 billion backlog.
• Institutional investors own 90.49% of Quanta’s stock, while insiders have been selling; insiders sold roughly $123.2 million worth of shares in the latest quarter. The stock trades at a demanding valuation of about 90 times earnings.

Bank of America Corp DE lifted its holdings in Quanta Services, Inc. (NYSE:PWR - Free Report) by 5.4% in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 3,444,711 shares of the construction company's stock after buying an additional 175,184 shares during the quarter. Bank of America Corp DE owned about 2.30% of Quanta Services worth $1,891,215,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in PWR. Cetera Investment Advisers grew its stake in Quanta Services by 5.8% in the first quarter. Cetera Investment Advisers now owns 74,134 shares of the construction company's stock worth $40,701,000 after purchasing an additional 4,087 shares during the period. Evoke Wealth LLC purchased a new position in Quanta Services in the fourth quarter worth about $368,000. Sequoia Financial Advisors LLC raised its holdings in Quanta Services by 3.1% in the 4th quarter. Sequoia Financial Advisors LLC now owns 130,436 shares of the construction company's stock worth $55,052,000 after acquiring an additional 3,966 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. lifted its holdings in shares of Quanta Services by 9.9% during the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 50,602 shares of the construction company's stock valued at $21,357,000 after purchasing an additional 4,568 shares in the last quarter. Finally, Lebenthal Global Advisors LLC lifted its stake in Quanta Services by 9.8% during the 4th quarter. Lebenthal Global Advisors LLC now owns 9,277 shares of the construction company's stock valued at $3,915,000 after acquiring an additional 830 shares during the period. Institutional investors own 90.49% of the company's stock.

Insider Transactions at Quanta Services

In related news, CAO Paul Nobel sold 4,000 shares of the stock in a transaction that occurred on Monday, May 4th. The stock was sold at an average price of $756.98, for a total transaction of $3,027,920.00. Following the completion of the transaction, the chief accounting officer directly owned 8,080 shares of the company's stock, valued at approximately $6,116,398.40. This represents a 33.11% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Earl C. Jr. Austin sold 25,992 shares of Quanta Services stock in a transaction that occurred on Tuesday, May 5th. The stock was sold at an average price of $770.71, for a total value of $20,032,294.32. Following the completion of the sale, the chief executive officer directly owned 16,508 shares in the company, valued at approximately $12,722,880.68. The trade was a 61.16% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 159,992 shares of company stock worth $123,244,714 over the last quarter. 0.60% of the stock is owned by company insiders.

Quanta Services Price Performance

Shares of NYSE:PWR opened at $659.11 on Friday. The firm has a market cap of $98.91 billion, a price-to-earnings ratio of 90.41, a P/E/G ratio of 2.21 and a beta of 1.21. The firm has a fifty day moving average price of $681.24 and a 200 day moving average price of $611.83. Quanta Services, Inc. has a fifty-two week low of $363.01 and a fifty-two week high of $788.75. The company has a debt-to-equity ratio of 0.57, a quick ratio of 1.09 and a current ratio of 1.14.

Quanta Services (NYSE:PWR - Get Free Report) last announced its quarterly earnings results on Thursday, July 30th. The construction company reported $4.24 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $3.31 by $0.93. The company had revenue of $9.56 billion for the quarter, compared to the consensus estimate of $8.61 billion. Quanta Services had a net margin of 3.67% and a return on equity of 18.64%. Quanta Services's revenue for the quarter was up 41.1% compared to the same quarter last year. During the same period in the previous year, the firm posted $2.48 EPS. Quanta Services has set its FY 2026 guidance at 16.450-16.950 EPS. As a group, sell-side analysts expect that Quanta Services, Inc. will post 12.8 earnings per share for the current fiscal year.

Quanta Services declared that its board has approved a stock buyback plan on Friday, May 22nd that allows the company to buyback $1.00 billion in shares. This buyback authorization allows the construction company to reacquire up to 0.9% of its stock through open market purchases. Stock buyback plans are usually a sign that the company's leadership believes its shares are undervalued.

Quanta Services Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, July 13th. Investors of record on Wednesday, July 1st were given a $0.11 dividend. This represents a $0.44 dividend on an annualized basis and a dividend yield of 0.1%. The ex-dividend date was Wednesday, July 1st. Quanta Services's payout ratio is currently 6.04%.

Quanta Services News Summary

Here are the key news stories impacting Quanta Services this week:

• Positive Sentiment: Q2 results significantly beat expectations. Quanta reported $9.56 billion in revenue, up 41.1% year over year, versus the $8.61 billion consensus estimate. Adjusted diluted EPS was $4.24, well above estimates near $3.30 and up from $2.48 a year earlier. Quanta Services Reports Second Quarter 2026 Results
• Positive Sentiment: Management raised full-year 2026 guidance across key metrics. The company now expects adjusted EPS of $16.45-$16.95 and revenue of $39.3-$39.7 billion, above consensus forecasts of approximately $13.78 EPS and $35.0 billion in revenue. Quanta Projects 2026 Revenue as Backlog Supports Raised Outlook
• Positive Sentiment: Record backlog improves revenue visibility. Total backlog reached $53.4 billion, including $33.6 billion of remaining performance obligations, supporting management’s more confident outlook and signaling sustained demand for power and infrastructure projects.
• Positive Sentiment: Cash generation was robust. Quanta produced $1.1 billion in operating cash flow and $0.9 billion in free cash flow during the quarter, while adjusted EBITDA reached $1.1 billion. These results provide additional financial flexibility to fund growth and capital returns. Quanta Services Posts Record Q2 Results and Boosts Outlook
• Neutral Sentiment: Valuation remains demanding. Following the rally, PWR trades at roughly 90 times earnings based on the provided data, leaving the stock sensitive to any slowdown in backlog conversion, project execution, or future guidance.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on PWR. Mizuho set a $645.00 price target on Quanta Services in a report on Monday, July 20th. Oppenheimer upgraded shares of Quanta Services from a "market perform" rating to an "outperform" rating and set a $800.00 price target on the stock in a research report on Thursday, May 28th. Evercore boosted their price objective on shares of Quanta Services from $635.00 to $800.00 and gave the company an "outperform" rating in a research report on Friday, May 1st. Sanford C. Bernstein raised their target price on Quanta Services from $538.00 to $725.00 and gave the stock a "market perform" rating in a report on Tuesday, May 5th. Finally, Citigroup upped their price target on Quanta Services from $640.00 to $733.00 and gave the stock a "buy" rating in a research report on Monday, April 27th. Seventeen analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the company's stock. According to MarketBeat.com, Quanta Services has a consensus rating of "Moderate Buy" and an average price target of $745.55.

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.

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