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Truist initates Quanta Services, Inc. (PWR) rating to a Buy

Quanta Services, Inc.’s recent filing unveils that its EVP and General Counsel WAYNE DONALD unloaded Company’s shares for reported $0.29 million on Mar 27 ’24. In the deal valued at $261.94 per share,1,101 shares were sold. As a result of this transaction, WAYNE DONALD now holds 40,065 shares worth roughly $10.63 million.

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Then, WAYNE DONALD sold 595 shares, generating $142,568 in total proceeds. Upon selling the shares at $239.61, the EVP and General Counsel now owns 41,954 shares.

Before that, WAYNE DONALD sold 904 shares. Quanta Services, Inc. shares valued at $218,596 were divested by the EVP and General Counsel at a price of $241.81 per share. As a result of the transaction, WAYNE DONALD now holds 43,225 shares, worth roughly $11.47 million.

Truist initiated its Quanta Services, Inc. [PWR] rating to a Buy in a research note published on March 14, 2024; the price target was $301. A number of analysts have revised their coverage, including TD Cowen’s analysts, who remained covering the stock and in late February has reiterated a ‘”an Outperform”‘ rating for it. Evercore ISI began covering PWR with “an Outperform” recommendation on February 13, 2024. KeyBanc Capital Markets revised its rating on January 10, 2024. It rated PWR as “a Sector weight” which previously was an “an Overweight”.

Price Performance Review of PWR

On Monday, Quanta Services, Inc. [NYSE:PWR] saw its stock fall -2.23% to $265.43. Over the last five days, the stock has lost -1.51%. Quanta Services, Inc. shares have risen nearly 23.00% since the year began. Nevertheless, the stocks have risen 54.69% over the past one year. While a 52-week high of $272.87 was reached on 05/13/24, a 52-week low of $153.74 was recorded on 01/23/24. SMA at 50 days reached $253.74, while 200 days put it at $210.84. A total of 0.74 million shares were traded, compared to the trading of 0.95 million shares in the previous session.

Levels Of Support And Resistance For PWR Stock

The 24-hour chart illustrates a support level at 262.72, which if violated will result in even more drops to 260.01. On the upside, there is a resistance level at 270.57. A further resistance level may holdings at 275.71. The Relative Strength Index (RSI) on the 14-day chart is 57.97, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at 7.12, which suggests price will go up in the next trading period. Percent R suggests that price movement has been bullish at 27.04%. Stochastics %K at 87.22% indicates the stock is a selling.

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