William Harnisch’s Peconic Partners is Buying These 5 Stocks

1. Quanta Services, Inc. (NYSE:PWR)

Peconic Partners’ Stake Value: $513,410,000

Percentage of Peconic Partners’ 13F Portfolio: 51.37%

Number of Hedge Fund Holders: 40

As of Q2 2021 filings, William Harnisch’s Peconic Partners owned over 5.6 million shares of PWR worth $513.4 million which is 51.37% of the fund’s total portfolio. The fund is the biggest stakeholder in Quanta Services, Inc. ( NYSE:PWR).

ClearBridge Investments talked about Quanta Services, Inc. (NYSE:PWR) in its second-quarter investment letter. Here is what the fund said:

“To highlight this diversification and our active approach, we will discuss a stock that we added this quarter that are wellpositioned for some of the changes we think are underway: Quanta Services.

Quanta Services is a specialty engineering and construction company that will be a major beneficiary of the multidecade power infrastructure investment we expect to be made to support the energy transition. Based on our estimates, electric transmission capacity needs to triple or quadruple over the next 30 years to meet the demand for a net-zero economy. It is very rare to find investment runways of this length and magnitude, and we think the duration and sustainability of this growth are not reflected in Quanta’s current price. Specifically, we think Quanta’s revenues can triple over the next 20 years, which is well above what the stock currently embeds. This growth could be especially powerful if Quanta is able to expand profit margins as management currently expects, but any combination should allow our investment to compound at an attractive rate in one of the biggest transitions in history.”

The hedge fund sentiment around Quanta Services, Inc. (NYSE:PWR) is positive as 40 out of the 873 hedge funds owned stakes in the company as of Q2. According to Insider Monkey’s database, the same number stood at 33 out of the tracked 866 funds in the preceding quarter.

You can also take a look at the 11 Best Quantum Computing Stocks To Invest In and 11 Best Artificial Intelligence and Robotics Stocks To Buy According To Hedge Funds

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