The buying and selling of stock by a company’s insider give investors a sense that the stock will rise or fall in the future. Quanta Services, Inc. shares valued at $6,318,341 were sold by Studer Karl W on Aug 21 ’24. At $270.51 per share, Studer Karl W sold 23,357 shares. The insider’s holdings dropped to 10,631 shares worth approximately $3.26 million following the completion of this transaction.
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Also, Studer Karl W purchased 15,538 shares, netting a total of over 4,205,099 in proceeds.
Before that, Karl W Studer had added 7,819 shares to its account. In a trade valued at $2,097,436, the Officer bought Quanta Services, Inc. shares for $268.25 each.
As published in their initiating research note from JP Morgan on October 07, 2024, Quanta Services, Inc. [PWR] has been a Neutral and the price target has been revised to $297. Analysts at Wolfe Research started covering the stock with ‘”an Outperform”‘ outlook in a report released in mid September. As of September 04, 2024, Jefferies has initiated its “Hold” rating for PWR. Earlier on August 08, 2024, TD Cowen resumed its rating. Their recommendation was “a Buy” for PWR stock.
Analyzing PWR Stock Performance
During the last five days, there has been a surge of approximately 2.88%. Over the course of the year, Quanta Services, Inc. shares have jumped approximately 42.26%. Shares of the company reached a 52-week high of $312.52 on 10/08/24 and a 52-week low of $187.27 on 01/23/24. A 50-day SMA is recorded $273.99, while a 200-day SMA reached $252.00. Nevertheless, trading volume fell to 0.59 million shares from 0.58 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 303.24, which, if violated, would cause prices to drop to 299.48. In the upper region, resistance lies at 309.37. The next price resistance is at 311.75. RSI (Relative Strength Index) is 72.25 on the 14-day chart, showing overbought technical sentiment. Moving Average Convergence Divergence (MACD) is at 6.79, which suggests the price will increase in the coming days. Percent R is at 25.89%, indicating bullish price movement. Stochastics %K at selling indicates that the stock is to be held.
