Bank of America Corp DE Raises Stock Position in Quanta Services, Inc. $PWR

Bank of America Corp DE increased its position in shares of Quanta Services, Inc. (NYSE:PWR) by 35.6% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor 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’s holdings in Quanta Services were worth $1,208,672,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently bought and sold shares of PWR. Bank of Nova Scotia increased its position in shares of Quanta Services by 16.9% during the third quarter. Bank of Nova Scotia now owns 17,360 shares of the construction company’s stock worth $7,194,000 after purchasing an additional 2,507 shares in the last quarter. BNP Paribas boosted its position in shares of Quanta Services by 3.0% in the 3rd quarter. BNP Paribas now owns 23,750 shares of the construction company’s stock worth $9,728,000 after purchasing an additional 699 shares in the last quarter. Aquatic Capital Management LLC purchased a new position in Quanta Services during the 3rd quarter worth $1,885,000. Alliancebernstein L.P. increased its position in Quanta Services by 4.4% during the 3rd quarter. Alliancebernstein L.P. now owns 213,154 shares of the construction company’s stock valued at $88,335,000 after buying an additional 9,043 shares in the last quarter. Finally, Ameriprise Financial Inc. increased its position in Quanta Services by 11.3% during the 3rd quarter. Ameriprise Financial Inc. now owns 382,047 shares of the construction company’s stock valued at $158,427,000 after buying an additional 38,934 shares in the last quarter. Hedge funds and other institutional investors own 90.49% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on PWR shares. JPMorgan Chase & Co. raised their price target on Quanta Services from $515.00 to $627.00 and gave the stock an “overweight” rating in a report on Friday, February 20th. Bank of America lifted their price objective on shares of Quanta Services from $500.00 to $610.00 and gave the stock a “buy” rating in a research note on Friday, February 20th. Sanford C. Bernstein boosted their price objective on shares of Quanta Services from $471.00 to $515.00 and gave the company a “market perform” rating in a report on Tuesday, February 24th. Robert W. Baird raised their target price on Quanta Services from $490.00 to $606.00 and gave the stock an “outperform” rating in a research note on Friday, February 20th. Finally, Cantor Fitzgerald lifted their price target on Quanta Services from $520.00 to $630.00 and gave the stock an “overweight” rating in a research report on Friday, February 20th. Seventeen investment analysts have rated the stock with a Buy rating and seven have given a Hold rating to the stock. Based on data from MarketBeat.com, Quanta Services currently has a consensus 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 company has a 50 day simple moving average of $507.05 and a two-hundred day simple moving average of $454.73. The stock has a market cap of $86.00 billion, a price-to-earnings ratio of 84.53, a PEG ratio of 2.54 and a beta of 1.10. The company has a current ratio of 1.14, a quick ratio of 1.09 and a debt-to-equity ratio of 0.58. Quanta Services, Inc. has a 12 month low of $227.08 and a 12 month high of $576.86.

Quanta Services (NYSE:PWR) last issued its earnings results on Thursday, February 19th. The construction company reported $3.16 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.02 by $0.14. The firm had revenue of $7.84 billion during the quarter, compared to analysts’ expectations of $7.38 billion. Quanta Services had a net margin of 3.61% and a return on equity of 18.10%. The firm’s revenue was up 19.7% compared to the same quarter last year. During the same quarter last year, the company posted $2.94 earnings per share. Quanta Services has set its FY 2026 guidance at 12.650-13.350 EPS. As a group, analysts predict that Quanta Services, Inc. will post 9.34 earnings per share for the current 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.