How Quanta Services Inc (PWR) Stacks Up Against Its Peers

Due to the fact that Quanta Services Inc (NYSE:PWR) has gone through falling interest from hedge fund managers, logic holds that there was a specific group of hedgies who were dropping their positions entirely in the third quarter. It’s worth mentioning that George Hall’s Clinton Group sold off the biggest stake of the “upper crust” of funds studied by Insider Monkey, comprising close to $3.1 million in stock. Ben Levine, Andrew Manuel and Stefan Renold’s fund, LMR Partners, also cut its stock, about $2.3 million worth.

Let’s go over hedge fund activity in other stocks – not necessarily in the same industry as Quanta Services Inc (NYSE:PWR) but similarly valued. We will take a look at Seaboard Corporation (NYSEAMEX:SEB), Validus Holdings, Ltd. (NYSE:VR), Genesee & Wyoming Inc (NYSE:GWR), and AGCO Corporation (NYSE:AGCO). This group of stocks’ market caps resemble PWR’s market cap.

As you can see these stocks had an average of 16 hedge funds with bullish positions and the average amount invested in these stocks was $255 million. That figure was $318 million in PWR’s case. AGCO Corporation (NYSE:AGCO) is the most popular stock in this table. On the other hand Seaboard Corporation (NYSEAMEX:SEB) is the least popular one with only 10 bullish hedge fund positions. Quanta Services Inc (NYSE:PWR) is not the most popular stock in this group but hedge fund interest is still above average. This is a slightly positive signal but we’d rather spend our time researching stocks that hedge funds are piling on. In this regard AGCO might be a better candidate to consider taking a long position in.

Disclosure: None