Investors can expect a company’s stock to rise or fall based on the buying and selling of stock by its insiders. Quanta Services, Inc. shares valued at $288,396 were sold by WAYNE DONALD on Mar 27 ’24. At $261.94 per share, WAYNE DONALD sold 1,101 shares. The insider’s holdings dropped to 40,065 shares worth approximately $10.34 million following the completion of this transaction.
Also, WAYNE DONALD sold 595 shares, netting a total of over 142,568 in proceeds. Following the sale of shares at $239.61 each, the insider now holds 41,954 shares.
Before that, WAYNE DONALD had sold 904 shares from its account. In a trade valued at $218,596, the EVP and General Counsel traded Quanta Services, Inc. shares for $241.81 each. Upon closing the transaction, the insider’s holdings decreased to 904 shares, worth approximately $11.15 million.
As published in their initiating research note from Truist on March 14, 2024, Quanta Services, Inc. [PWR] has been a Buy and the price target has been revised to $301. Analysts at TD Cowen resumed the stock at ‘”an Outperform”‘ outlook in a report released in late February. As of February 13, 2024, Evercore ISI has initiated its “an Outperform” rating for PWR. Earlier on January 10, 2024, KeyBanc Capital Markets downgraded its rating. Their new recommendation was “a Sector weight” for PWR stock which previously was a “an Overweight”.
Analyzing PWR Stock Performance
During the last five days, there has been a drop of approximately -0.11%. Over the course of the year, Quanta Services, Inc. shares have jumped approximately 19.56%. Shares of the company reached a 52-week high of $265.82 on 04/04/24 and a 52-week low of $187.27 on 01/23/24. A 50-day SMA is recorded $236.20, while a 200-day SMA reached $204.40. Nevertheless, trading volume fell to 0.61 million shares from 0.75 million shares the previous day.
Support And Resistance Levels for Quanta Services, Inc. (PWR)
According to the 24-hour chart, there is a support level at 253.89, which, if violated, would cause prices to drop to 249.78. In the upper region, resistance lies at 260.17. The next price resistance is at 262.34. RSI (Relative Strength Index) is 60.15 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at -2.36, which suggests the price will decrease in the coming days. Percent R is at 47.37%, indicating low price movement. Stochastics %K at holding indicates that the stock is to be held.
Is Quanta Services, Inc. subject to short interest?
Stocks of Quanta Services, Inc. saw a sharp steep in short interest on Mar 15, 2024 dropping by 90000.0 shares to 3.3 million. Data from Yahoo Finance shows that the short interest on Feb 15, 2024 was 3.39 million shares. A decline of -2.73% in short interest reflects a positive sentiment towards the stock. Despite the fact that short shares comprise just 3.27 of the overall float, the days-to-cover ratio (short ratio) decline to 3.27.
