Hedge Funds Have Never Been This Bullish On Quanta Services Inc (PWR)

We hate to say this but, we told you so. On February 27th we published an article with the title Recession is Imminent: We Need A Travel Ban NOW and predicted a US recession when the S&P 500 Index was trading at the 3150 level. We also told you to short the market and buy long-term Treasury bonds. Our article also called for a total international travel ban. While we were warning you, President Trump minimized the threat and failed to act promptly. As a result of his inaction, we will now experience a deeper recession (see why hell is coming).

In these volatile markets we scrutinize hedge fund filings to get a reading on which direction each stock might be going. Although the masses and most of the financial media blame hedge funds for their exorbitant fee structure and disappointing performance, these investors have proved to have great stock picking abilities over the years (that's why their assets under management continue to swell). We believe hedge fund sentiment should serve as a crucial tool of an individual investor’s stock selection process, as it may offer great insights of how the brightest minds of the finance industry feel about specific stocks. After all, these people have access to smartest analysts and expensive data/information sources that individual investors can't match. So should one consider investing in Quanta Services Inc (NYSE:PWR)? The smart money sentiment can provide an answer to this question.

Is Quanta Services Inc (NYSE: PWR)a buy, sell, or hold? Hedge funds are getting more bullish. The number of long hedge fund bets improved by 12 in recent months. Our calculations also showed that PWR isn't among the30 most popular stocks among hedge funds(click for Q4 rankings and see the video at the end of this article for Q3 rankings).

To the average investor there are dozens of gauges stock market investors have at their disposal to size up their holdings. Two of the most useful gauges are hedge fund and insider trading activity. We have shown that, historically, those who follow the best picks of the top investment managers can outclass their index-focused peers by a solid amount (see the details here).

[caption id="attachment_193032" align="aligncenter" width="399"] William Harnisch of Peconic Partners LLC[/caption]

We leave no stone unturned when looking for the next great investment idea. For example we recently identified a stock that trades 25% below the net cash on its balance sheet. We read hedge fund investor letters and listen to stock pitches at hedge fund conferences, and go through short-term trade recommendations like this one . We even check out the recommendations of services with hard to believe track records. Our best call in 2020 was shorting the market when S&P 500 was trading at 3150 after realizing the coronavirus pandemic's significance before most investors. With all of this in mind let's take a glance at the fresh hedge fund action regarding Quanta Services Inc (NYSE:PWR).

What have hedge funds been doing with Quanta Services Inc (NYSE:PWR)?

Heading into the first quarter of 2020, a total of 44 of the hedge funds tracked by Insider Monkey held long positions in this stock, a change of 38% from the third quarter of 2019. By comparison, 27 hedge funds held shares or bullish call options in PWR a year ago. With the smart money's positions undergoing their usual ebb and flow, there exists a few notable hedge fund managers who were upping their holdings significantly (or already accumulated large positions).

Among these funds,Peconic Partners LLCheld the most valuable stake in Quanta Services Inc (NYSE:PWR), which was worth $221.5 million at the end of the third quarter. On the second spot was Lyrical Asset Management which amassed $164.5 million worth of shares. Citadel Investment Group, Greenhaven Associates, and Millennium Management were also very fond of the stock, becoming one of the largest hedge fund holders of the company. In terms of the portfolio weights assigned to each position Peconic Partners LLC allocated the biggest weight to Quanta Services Inc (NYSE:PWR), around 45.18% of its 13F portfolio.Brightlight Capitalis also relatively very bullish on the stock, dishing out 12.4 percent of its 13F equity portfolio to PWR.

Consequently, specific money managers were leading the bulls' herd. Brightlight Capital, managed by Vadim Rubinchik, initiated the most outsized position in Quanta Services Inc (NYSE:PWR). Brightlight Capital had $16.4 million invested in the company at the end of the quarter. Andrew Byington'sAppian Way Asset Managementalso made a $10 million investment in the stock during the quarter. The other funds with new positions in the stock are Donald Sussman'sPaloma Partners, Paul Marshall and Ian Wace's Marshall Wace LLP, and Ryan Tolkin (CIO)'s Schonfeld Strategic Advisors.

Let's check out hedge fund activity in other stocks similar to Quanta Services Inc (NYSE:PWR). We will take a look at Zynga Inc (NASDAQ:ZNGA), Capri Holdings Limited (NYSE:CPRI), SolarWinds Corporation (NYSE:SWI), and Choice Hotels International, Inc. (NYSE:CHH). This group of stocks' market values resemble PWR's market value.

[table] Ticker, No of HFs with positions, Total Value of HF Positions (x1000), Change in HF Position ZNGA,48,953368,8 CPRI,40,1033626,-1 SWI,15,2527306,2 CHH,16,124873,-6 Average,29.75,1159793,0.75 [/table]

View table hereif you experience formatting issues.

As you can see these stocks had an average of 29.75 hedge funds with bullish positions and the average amount invested in these stocks was $1160 million. That figure was $959 million in PWR's case. Zynga Inc (NASDAQ:ZNGA) is the most popular stock in this table. On the other hand SolarWinds Corporation (NYSE:SWI) is the least popular one with only 15 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. Our calculations showed thattop 20 most popular stocksamong hedge funds returned 41.3% in 2019 and outperformed the S&P 500 ETF (SPY) by 10.1 percentage points. These stocks lost 17.4% in 2020 through March 25th but beat the market by 5.5 percentage points. Unfortunately PWR wasn't nearly as popular as these 20 stocks and hedge funds that were betting on PWR were disappointed as the stock returned -25.3% during the same time period and underperformed the market. If you are interested in investing in large cap stocks with huge upside potential, you should check out thetop 20 most popular stocksamong hedge funds as many of these stocks already outperformed the market so far this year.

Video: Click the image to watch our video about the top 5 most popular hedge fund stocks.

Disclosure: None. This article was originally published atInsider Monkey.

Related Content

How to Best Use Insider Monkey To Increase Your Returns

26 English Speaking Non Extradition Countries in the World

11 Common Illegal Hustles to Make Money Fast

我们不想这么说，但我们告诉过你。2月27日，我们发表了一篇题为“衰退即将来临：我们现在就需要旅行禁令”的文章，预测当标准普尔500指数(S&P 500 Index)在3150水平交易时，美国经济将陷入衰退。我们还告诉你�谐。郝诠�.我们的文章还�娼构事眯小５蔽颐蔷婺愕氖焙乩势兆芡嘲淹步档阶畹停挥醒杆俨扇⌒卸Ｓ捎谒牟蛔颐窍衷诮怀「畈愦蔚乃ネ�(看看他为什么会来)。

在这些动荡的市场中，我们仔细查看对冲基�瓯ㄎ募粤私饷恐还善钡淖呤啤＞」艽痛教逯冈寤压撸导钊耸庑┩蹲收叨嗄昀吹难」赡芰芮�(这就是他们管理下的资产不断�脑我们认为，对冲基�贸晌蹲收吖善毖≡讨械囊桓ぞ撸赡芪底畲厦硕蕴囟ü善钡母惺芴峁┝松羁痰募狻１暇梗庑┤擞涤懈蹲收呶薹ū饶獾淖畲厦治桶汗�/信息源。�嗣鞘欠每悸峭蹲视诠愦锓�(纽约证券交易所市场代码：PWR)？聪�樾晕飧馓峁┮桓浮�

广达服��(纽约证券交易所市场代码：PWR)是�故浅钟校慷猿寤涞酶涌凑恰＝父矗猿寤费鹤⒌氖吭�12次。我们的计算还显示，PWR并不是对冲基�钍芑队�30只股票之一(点�募径扰琶榭幢疚哪┪驳牡谌径扰琶悠�)。

对于普通投资者来说，有几十种衡量股市投资者持有的股票的标准。最有用的两�勘曜际嵌猿寤谀唤灰谆疃Ｎ颐且丫っ永飞峡矗切┳匪娑ゼ锻蹲示碜罴蜒≡耍芄槐戎甘刈⒌耐懈叱倍�(详见这里的细节)。

[标题id=“附件_193032”对齐=“对齐中心”宽度=“399”]Peconic Partners LLC的William Harnisch[/说�p>

在寻找下一�蹲实阕邮保颐遣还艘磺小＠纾颐亲罱⑾至艘恢槐绕渥什赫砩系木幌纸5%的股票。我们阅读对冲基�收叩男偶⒃诙猿寤樯�股票推介，并阅读类似于此的短期交易建议。我们�媚岩韵嘈诺母偌锹祭床榭捶诺慕ㄒ椤Ｎ颐窃�2020年的最佳表现是�谐。笔北曜计斩�500指数(S&P 500)在多数投资者意识到冠状病毒�械闹匾院杉鄞锏�3150点。考虑到所有这些，让我们来看看有关广达服��(纽约证券交易所市场代码：PWR)的新的对冲基��

对冲基�愦锓�(纽约证券交易所市场代码：PWR)�裁矗�

进入2020年第一季度，内层猴跟踪的对冲基�灿�44只持有多头头寸，较2019年第三季度��38%。相比之下，一年前，有27只对冲基�蠵WR的股票�强凑瞧谌āＫ孀胖悄芑耐反缇送ǔ５恼锹洌幸恍┲亩猿寤碚诖�哿舜反�)。

在这些基�琍econic Partners LLCheld是广达服��(QuantaServicesInc.)最有价值的股份，第三季度末，该公司价值2.215亿美元。第二位是抒情资产管理公司，它积累了价值1.645亿美元的股票。Citadel InvestmentGroup、GreenhaveAssociates和MillenniumManagement也非常喜欢这只股票，成为该公司最�猿寤腥酥弧＞头峙涓扛绲耐蹲首楹先ㄖ囟裕琍econic Partners LLC将最�胤峙涓愦锓�(纽约证券交易所市场代码：PWR)，约占其13F投资组合的45.18%，光�疽蚕喽钥春酶霉善保�13F股权组合的12.4%分配给PWR。

�囟ǖ幕砹斓甲排Ｈ骸９饷�(Brightlight Capital)由瓦迪姆·鲁��(Vadim Rubinchik)管理，开创了广达服��(纽约证券交易所代码：PWR)中规模最�炯径饶饷�(Brightlight Capital)对该公司进行了1，640�耐蹲省０驳侣场ぐ荻�(AndrewByington)的Appian Way资产管理公司(Appian Way Asset Management)也在本季度对该股进行了其他持有新头寸的基�ㄌ颇傻隆に账孤�(Donald Sussman)的Paloma Partners、保罗·马歇尔(Paul Marshall)和伊�炙�(Ian Wace)的MarshallWace LLP，以及RyanTolkin(CIO)的Schonfeld战略顾问。

让我们来看看其他股票的对冲基�热鏠uantaServicesInc(纽约证券交易所市场代码：PWR)。我们将看看Zynga公司(纳斯达克市场代码：ZNGA)、Capri控股有限公司(纽约证券交易所市场代码：CPRI)、SolarWinds公司(纽约证券交易所代码：Swi)和�频旯使尽�(纽约证券交易所：CHH)。这组股票的市值与PWR的市值相似。

[表]有头寸的HFS编号，高频头寸的总价值(X 1000)，高频位置ZNGA的变化，48，953368，8 CPRI，40，1033626，-1 SWI，15，2527306，2 CHH，16，124873，-6平均，29.75，1159793，0.75[/表]

如果�侍猓朐诖瞬榭幢怼�

如你所见，这些股票平均有29.75只对冲基�锌凑峭反纾蹲收庑┕善钡钠骄�1.16亿美元。就压水厂而言，这一数字为9.59亿美元。Zynga公司(纳斯达克市场代码：ZNGA)是本表中最受欢迎的股票。另一方面，SolarWinds公司(纽约证券交易所市场代码：Swi)是最不受欢迎的公司，只有15�堑亩猿寤纭９愦锓约证券交易所市场代码：PWR)并不是该集团最受欢迎的股票，但对冲基�巳と匀桓哂谄骄健Ｕ馐且桓哉娴男藕牛颐悄富ㄊ奔溲芯慷猿寤诙诨墓善薄Ｎ颐堑募扑阆允荆猿寤钍芑队那�20只股票在2019年的回报率为41.3%，比标准普尔500指数ETF(S&P 500 ETF)高�1�值恪Ｕ庑┕善痹�2020年至3月25日下跌17.4%，但比市场高��值恪２恍业氖牵琍WR几�姓�20只股票那么受欢迎，而那些押注PWR的对冲基�耍庵还善蓖诨乇饰�25.3%，表现不如市场。如果你有兴趣投资具有巨�星绷Φ拇桑阌Ω每纯炊猿寤钍芑队那�20位股票，�岳矗庑┕善钡谋硐忠丫耸谐　Ｊ悠担旱慊劭次颐枪赜谇�5名最受欢迎的对冲基�钡氖悠怠�

披露：无。这篇文章最�凇澳谀缓镒印鄙戏⒈淼摹�

相关内容

如何最好地使用内幕猴子来�愕幕乇�

世界上26�⒂锏姆且晒�

11种常见的非法聚光灯快速赚钱

免�形姆胗商谘斗刖峁┲С郑煌径苑胄畔⒌淖既沸曰啃运斐傻娜魏嗡怀械Ｈ魏卧�