The Potential Rise in the Price of Quanta Services Inc. (PWR) following insiders activity


Quanta Services Inc.’s recently made public that its EVP and General Counsel WAYNE DONALD unloaded Company’s shares for reported $3.8 million on Mar 06. In the deal valued at $163.68 per share,23,214 shares were sold. As a result of this transaction, WAYNE DONALD now holds 50,367 shares worth roughly $ 7.85 million.

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Then, WAYNE DONALD sold 14,476 shares, generating $2,357,996 in total proceeds. Upon selling the shares at $162.89, the EVP and General Counsel now owns 49,647 shares.

Before that, FOSTER VINCENT D sold 14,948 shares. Quanta Services Inc. shares valued at $1,778,896 were divested by the Director at a price of $119.01 per share. As a result of the transaction, FOSTER VINCENT D now holds 204,925 shares, worth roughly $31.94 million.

Cowen reiterated its Quanta Services Inc. [PWR] rating to an Outperform in a research note published on Monday, December 27, 2022; the price target was $165. PT values the company’s stock at a premium of 5.53 to its Monday closing price. A number of analysts have revised their coverage, including Goldman’s analysts, who decreased its forecast for the stock in mid September from “a Buy” to “a Neutral”. Argus began covering PWR with “Buy” recommendation on July 15, 2022. UBS revised its rating on June 13, 2022. It rated PWR as “a Buy” which previously was an “a Neutral”.

Price Performance Review of PWR

On Monday, Quanta Services Inc. [NYSE:PWR] saw its stock fall -0.94% to $155.87. On the same session, the stock had its day’s lowest price of $154.85, but rose to a high of $157.96. Over the last five days, the stock has lost -4.59%. Quanta Services Inc. shares have risen nearly 9.38% since the year began. Nevertheless, the stocks have risen 28.76% over the past one year. While a 52-week high of $168.75 was reached on 02/23/23, a 52-week low of $106.33 was recorded on 01/05/23. SMA at 50 days reached $151.38, while 200 days put it at $140.37. A total of 0.9 million shares were traded, compared to the trading of 1.7 million shares in the previous session.

Levels Of Support And Resistance For PWR Stock

The 24-hour chart illustrates a support level at 154.49, which if violated will result in even more drops to 153.12. On the upside, there is a resistance level at 157.60. A further resistance level may holdings at 159.34. The Relative Strength Index (RSI) on the 14-day chart is 48.18, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at -1.96, which suggests price will go down in the next trading period. Percent R suggests that price movement has been low at 60.13%. Stochastics %K at 49.46% indicates the stock is a holding.

How much short interest is there in Quanta Services Inc.?

A steep rise in short interest was recorded in Quanta Services Inc. stocks on Jan 12, 2023, dropping by -0.11 million shares to a total of 4.37 million shares. Yahoo Finance data shows the prior-month short interest on Dec 14, 2022 was 4.48 million shares. There was a decline of -2.52%, which implies that there is a negative sentiment for the stock. In spite of short shares comprising just 3.47% of the overall stock float, the days-to-cover ratio (short ratio) fell to 4.49.

Quanta Services Inc. [PWR] – Who Are The Largest Shareholders?

In filings from The Vanguard Group, Inc., it is revealed that the company now owns 15,151,666 shares, or roughly 10.60% of the outstanding PWR shares. In other words, the investor’s shares have risen by 32,440 from its previous 13-F filing of 15119226.0. Additionally, BlackRock Fund Advisors increased 5.01% of its stake after which the total value it holdings stand at $1,223,761,431, while Peconic Partners LLC added 0.57% of its stake to hold $897.86 million in the firm. Over the last quarter, SSgA Funds Management, Inc. sold -7,297 shares of Quanta Services Inc., while JPMorgan Investment Management, I sold 328,123 shares. At present, Fidelity Management & Research Co is holding 4,072,755 shares valued at $657.34 million. Geode Capital Management LLC owned 2,971,700 shares of the company at the time of its most recent 13F filing, worth $479.63 million.

According to FactSet, Quanta Services Inc.’s share price will average $177.87 in the next year, based on opinions of analysts polled by the firm. This is up nearly 14.39 percent from its previous closing price of $157.35. Analysts expect Quanta Services Inc. stock to reach the higher price of $192.00, while the lowest price estimate is $150.00. However, 18 analysts have rated PWR stock as an Overweight in their predictions for 2023.


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